Because I do see that the rate of travel expenses in the second quarter is relatively high compared to the previous quarter, including last year.

Aug 18, 2023 / receipt, needs a key / Eddie Wang, other | earnings call 2023-08-18 | transcript 92d0f9d9-7fa7-465c-ac5e-d949d986921a | chars 23630-23775 | segment 24

The desire to spend remained healthily with customer visits clearly picking up, and the active Super VIP customers increased by 13%, accounting for 42% of our online spending.

Feb 23, 2023 / receipt, needs a key / Eric Shen, CEO | earnings call 2023-02-23 | transcript 382f21cf-7b75-407b-a375-5f29e549729d | chars 2214-2389 | segment 2

Apparently, post-pandemic, we did see faster than expected recovery in spending in apparel and other discretionary items. And on the ground, you will see a lot of people feeling more comfortable with moving or traveling around. So they do have strong demand for apparel categories. We've seen positive growth of customer members as well as conversion rate. So that's on the consumption side.

Feb 23, 2023 / receipt, needs a key / Joyce Ju, other | earnings call 2023-02-23 | transcript 382f21cf-7b75-407b-a375-5f29e549729d | chars 19830-20221 | segment 20