In the past week, the cross-border e-commerce sector has seen some significant developments. From record-breaking sales on Amazon Prime Day to new features on TikTok Shop and updates on Temu’s expansion in Europe, here are the key highlights:
Amazon Prime Day Sets New Sales Record
During the two-day Prime Day event, online sales in the US reached a record $14.2 billion, according to a report by Adobe Analytics. Amazon reported that this year’s Prime Day sales hit an all-time high, with a higher number of items sold compared to previous years. The surge in sales was driven by back-to-school shopping, with online sales in the electronics category increasing by 61%. Amazon also announced investments of billions of euros in Europe, covering logistics, cloud infrastructure, and research and development, creating thousands of new job opportunities.
TikTok Shop Introduces New Features
TikTok Shop in Southeast Asia has implemented a "limit order" rule to ensure sellers can effectively manage their order processing capacity. Sellers with high delay fulfillment rates or order cancellation rates will be restricted from receiving new orders until their operational performance returns to normal. Additionally, TikTok Shop has launched the "lowest price guarantee" label in Malaysia to enhance price transparency and competitiveness for sellers.
Temu Expands in Europe
Temu, a rising player in the cross-border e-commerce market, has opened up its semi-hosted model to European entities. This move allows businesses with European entities to register on the platform, with specific registration dates for Germany, Italy, France, Spain, and the UK. The expansion aims to attract more sellers and provide a diverse range of products to customers in Europe.
Other Platform Updates
- Alibaba’s Taobao introduces global free shipping for apparel, directly offering free shipping to overseas consumers.
- Lazada implements new return and refund policies in Malaysia to enhance customer experience.
- Shopee launches the "5 Day Delivery" logistics channel in Thailand for faster order fulfillment.
- Walmart maintains its position as the top retailer in the US, with sales reaching $533 billion.
- Google plans to acquire Flipkart for $15 billion to enter the Indian e-commerce market.
Industry Insights and Data
- The global warehouse robotics market is projected to grow steadily, reaching $164.5 billion by 2031.
- French consumers show a high satisfaction rate of 93% in online shopping, with the e-commerce market ranking second in Europe.
- Italian e-commerce market is thriving, with the home and living sector experiencing the fastest growth, reaching a market value of €44 billion.
These developments highlight the dynamic nature of the cross-border e-commerce landscape, with platforms introducing new features, expanding into new markets, and adapting to changing consumer preferences. As the industry continues to evolve, businesses must stay informed and agile to capitalize on emerging opportunities and meet the demands of the ever-evolving market.