US

Amazon’s New Account Protection Plan

As Amazon’s Prime Day approaches on July 16-17, Amazon has announced a new “All Site Account Protection Program” (AHA) for professional sellers. This program provides sellers with a 72-hour grace period to resolve issues that could otherwise result in account suspension. Sellers must maintain a high account status rating, meet order volume requirements, and avoid any fraudulent activities to qualify. Amazon’s new measures aim to safeguard sellers’ accounts during critical sales periods like Prime Day. Participation in the AHA program is advised for eligible sellers to secure their accounts.

Amazon’s New Brand Flagship Store Tools

Amazon has launched new tools and features for brand flagship stores to enhance private traffic management. These tools include a quality rating report, which categorizes stores into “low/mid/high” tiers based on metrics like average stay time. Stores with high-quality ratings see significantly higher sales. Additional key metrics include average bounce rate, average dwell time, and new store visitors. Sellers can leverage these metrics to improve user experience, increase conversions, and optimize promotional strategies.

Globe

UK Compliance Update for Amazon Sellers

Amazon UK has announced a new requirement for sellers to provide Import Entry Numbers (IEN) for goods entering its fulfillment centers starting January 1, 2024. This measure aims to ensure compliance and transparency in goods importation. Sellers must submit IEN information within 60 days of goods arriving at the fulfillment center. Additionally, sellers must update IENs for historical shipments and retain records for six years. This new regulation emphasizes the importance of robust record-keeping and compliance with UK import laws.

Italian Port Workers Strike

Italian port workers are set to strike in early July, potentially disrupting port operations across the country. Despite six months of contract negotiations, no agreement has been reached between the transport unions and employers. The unions demand a new collective labor agreement with improved economic terms to restore workers’ purchasing power. The strike is expected to impact all ports in Italy, and shippers and logistics providers are advised to monitor the situation closely. Companies should adjust their transportation plans accordingly to mitigate the impact of the strike.

H&M Reports Q2 Financial Results

Hennes & Mauritz AB (H&M) has released its financial results for Q2 2024, reporting a 3% increase in net sales to SEK 59.605 billion. Despite some market instability in early June, H&M saw an 11% increase in gross profit and a 52% rise in post-tax profit. The company remains focused on achieving its long-term profitability goals. For the first half of the year, H&M reported a slight increase in net sales and significant growth in operating profit. The group aims to maintain a 10% operating profit margin for the full year of 2024.

E-Bike Brand URTOPIA Secures Funding

E-Bike brand URTOPIA has announced the completion of a Series A funding round, raising over $10 million. The funding will support the expansion of URTOPIA’s sales network, technology development, and the construction of a dedicated factory. Founded in 2021, URTOPIA integrates advanced AI technology into its E-Bikes, offering personalized and intelligent riding experiences. The brand’s flagship product, featuring ChatGPT integration, has achieved significant success on the crowdfunding platform Indiegogo. URTOPIA’s core technology includes an IoT system and control algorithms that enhance performance and efficiency.

Gen Z’s Shopping Habits Driven by TikTok and Influencers

Generation Z in the Asia-Pacific region heavily relies on TikTok and influencers for fashion trends, according to a KPMG report. The study surveyed 7,000 consumers across 14 markets, revealing that nearly half of Gen Z respondents prefer social commerce (63%) and livestreaming commerce (57%) for their shopping experiences. The fusion of social media and e-commerce is pivotal in engaging this digitally native generation, with platforms like TikTok and Instagram playing significant roles. Brands are adapting their supply chain strategies to focus on social commerce to meet Gen Z’s preferences. This trend underscores the importance of influencer marketing and social media presence for brands targeting young consumers.

AI

AI Automation in Ocean Freight Industry

New York-based startup Ship Angel has secured $5 million in funding to revolutionize the ocean freight industry through AI automation. The company, founded in 2023, provides an AI-powered platform that optimizes freight shipping processes for beneficial cargo owners (BCOs). The funding round was led by Glasswing Ventures and Newark Venture Partners, with participation from Bienville Capital, Socii Capital, and Plug and Play. Ship Angel has introduced two new AI-powered solutions: Contract Amendment Guard, which tracks changes in surcharges and transit times, and Invoice Audit, which identifies inconsistencies in invoices. These tools aim to enhance efficiency, supply chain performance, and data accuracy, addressing the industry’s current reliance on manual data processing.

AI-powered Startup Raises $27M for Regulatory Compliance Automation

An AI-powered startup has secured $27 million to automate regulatory compliance checks. This funding will enhance the startup’s AI capabilities, streamlining compliance processes for businesses. Investors are optimistic about the potential to reduce regulatory burdens. The startup aims to expand its market presence with the new investment. This move signifies growing confidence in AI’s ability to simplify regulatory frameworks.

AWS Invests $50M in Public Sector Generative AI Innovations

AWS has committed $50 million to support generative AI innovations in the public sector. This investment focuses on developing AI solutions for government and public services, aiming to enhance efficiency and innovation. The initiative includes grants, training, and resources for AI projects. This commitment underscores AWS’s dedication to advancing AI technologies. The program seeks to drive significant improvements in public sector operations through AI.

Apple Offers Free AI Training for Developer Academy Students

Apple is offering free AI training for students at its Developer Academy. This initiative aims to equip students with advanced AI skills, focusing on fostering innovation and creativity in AI development. The program includes courses on machine learning, data science, and AI ethics. This training is part of Apple’s broader commitment to education and technology advancement. It represents a significant effort to prepare the new generation of AI developers.