Amazon: Forging new social shopping frontiers
Amazon collaborates with Snap for in-app shopping: Amazon announced a partnership with Snap to create a social shopping experience on Snapchat. Users in the U.S. can now view real-time pricing, Prime eligibility, delivery estimates, and product details for items advertised on Snapchat and sold by Amazon or independent sellers on its platform.
Expanding social e-commerce with Meta: Following a recent collaboration with Meta, Amazon now allows complete purchase processes for its products on Facebook and Instagram platforms, though this service is currently exclusive to U.S. users. Amazon is also exploring social e-commerce with its Inspire feature, aiming to compete with TikTok.
Temu: Revolutionizing e-commerce logistics
Temu introduces ocean shipping to cut costs: Temu has partnered with renowned shipping companies like Matson, Zim, CMA CGM, Maersk, and COSCO to implement transcontinental shipping via ocean freight. This strategy aims to reduce logistics costs by 30%-60% compared to air freight.
TikTok: Reporting impressive market performance
TikTok Shop reported significant growth in payment GMV and order volume across six major categories during the Black Friday event:
Impressive growth in women’s and children’s apparel: TikTok Shop’s Black Friday campaign in the U.S. showcased a substantial 144% increase in payment GMV for the women’s and children’s clothing category, accompanied by a 135% rise in order volume.
Men’s apparel and sportswear see significant surge: The men’s clothing, sportswear, and sleepwear category witnessed remarkable growth, with payment GMV soaring by 173% and a matching 173% hike in order volume.
Home and outdoor goods accelerate: The home and outdoor category reported a 113% growth in payment GMV and a 106% increase in order volume, indicating strong consumer interest in these products.
Footwear and accessories climb steadily: The footwear and accessories segment experienced a 120% growth in payment GMV and a 134% uptick in order volume, highlighting its popularity during the sales event.
Fast moving consumer goods (FMCG) category flourishes: The FMCG category demonstrated robust performance with a 162% jump in payment GMV and a significant 170% increase in order volume.
Digital electronics category leads with highest growth: The digital electronics category stood out with an extraordinary 281% increase in payment GMV and a 230% rise in order volume, outperforming all other categories.
Others: Diverse developments across the sector
eBay unveils three consumer trends for seasonal business boost: eBay has identified three key consumer trends: a focus on cost with occasional splurges, a preference for sustainable consumption, and openness to trying new or lesser-known brands. These insights aim to prepare sellers for the year-end peak season.
Wayfair announces Cyber7 promotion: Wayfair informed its suppliers that its Cyber Monday promotion in North America will be extended to seven days, starting two days earlier than planned, to allow customers more time for holiday shopping.
Forever 21 launches on SHEIN: Forever 21, under Authentic Brands Group, debuted on SHEIN’s website, featuring over 300 best-selling items and 126 exclusive co-branded styles, marking an expansion into new design territories.
Walmart CEO anticipates deflation in U.S.: In its Q3 earnings call, Walmart’s CEO Doug McMillon projected potential deflation in the U.S. in the coming months, despite currently higher prices for food and general merchandise compared to last year.
