Last week
What is happening in the cross-border e-commerce circle
Let's take a look together
Corporate Information
◆TikTok e-commerce will launch a self-operated "fully managed" model
A number of industry insiders revealed to Ebang Power that TikTok e-commerce will have multi-directional changes: TikTok e-commerce has adjusted its cross-border business, and the project team codenamed "S" will launch a self-operated "fully managed" model, that is, merchants are only responsible for supply, and the platform solves the problems of traffic and product operation.
◆Amazon will review seller accounts once a year Violators will be suspended
Recently, Amazon US updated the latest announcement, that is, in response to the requirements of the US federal law "Consumer Notice Act" (hereinafter referred to as the "Act"), which will take effect on June 27, 2023, Amazon is taking corresponding steps to verify the relevant seller information that meets the requirements of the Act, and in this process, Amazon will take strict measures to protect the data security of sellers. According to the announcement, the bill requires third-party sellers who sell in Amazon's US stores and meet the requirements of the corresponding provisions of the law to provide relevant business information, and stipulates that Amazon is obliged to collect, verify and disclose relevant information. To that end, Amazon updated the Services Business Solutions Agreement to align with the new law. According to the regulations, Amazon will conduct an annual information verification for sellers who meet the requirements to ensure the timeliness and accuracy of the seller's business information, which also means that most sellers have to face an annual "second review". Sellers need to take relevant actions according to the content of the email within the specified time, otherwise according to the requirements of the new law, sellers will risk being suspended if they do not complete account verification in time.
◆Shopee gives employees a 5% raise
Recently, Shopee's parent company Sea (Donghai Group) said that after the company turns a profit, employees who joined on or before March 31 will receive a 5% salary increase from July this year. Sea founder Forest Li said the company has achieved "self-sufficiency" because its cash balance is now increasing, not decreasing, every quarter, ahead of schedule to meet the goals it set last year.
◆eBay Canada announced the launch of a genuine authentication service for trading cards
eBay Canada has announced that it will launch a genuine authentication service for trading cards, eBay will cooperate with CGC and CSG (a well-known international card rating agency) to authenticate trading cards priced above $250 at no additional cost to buyers and sellers. Certified transaction cards will have a blue "Authenticity Guarantee" badge. From the operation process of the eBay certification service, once the buyer places an order, the item will be shipped to eBay's certification body in Canada for inspection. Trading cards undergo multiple checks by CGC or CSG. Before packaging, CGC or CSG also checks the transaction card against the details published in the listing. Once verified, the transaction card will be placed in a larger penny sleeve and sealed with an identity verification sticker and a QR code linking the authentication details. The transaction card is then placed in a pouch and delivered safely to the buyer with discreet and secure tracking shipping. If the buyer requests a return and the buyer's permission is obtained, the transaction card will be resent to the certification body for verification during the return process.
◆SHEIN announced that it will promote the platform model SHEIN Marketplace in the global market
SHEIN officially announced that it will promote the platform model SHEIN Marketplace in the global market. Its "platform" model has been tested in Brazil, and will be launched in the US market and further rolled out to the global market. SHEIN, which previously focused on its own brands, has launched a new platform model, SHEIN Marketplace, which is similar to Amazon, allowing merchants to operate their own stores and brands on the platform. According to SHEIN, a global, integrated platform will be established to allow local and international third-party merchants to settle in addition to operating its own brands to meet customers' needs for product diversity. The SHEIN Marketplace will allow sellers to gain real-time insights from SHEIN and learn from the company's on-demand production and demand measurement capabilities. Sellers will also benefit from SHEIN's extensive customer base, seamless product delivery process, and exposure to SHEIN's global brand marketing and social media channels.
◆Walmart WFS officially covers the Canadian site
Walmart Global E-commerce recently announced that WFS officially covers the Canadian site in addition to the US station. Walmart's first-party data shows that the transaction value of goods shipped using WFS has increased by an average of 50%, and WFS has received numerous praise in the United States. After the launch of WFS Canada, sellers can enjoy shorter delivery times and improve consumer experience. If the seller is not yet on the Canadian site, they will need to complete the platform onboarding application process first. After successfully settled, sellers who have passed the WFS qualification review of the Canadian station and meet the relevant requirements of the relevant attributes of the product can unlock the use of the Canadian WFS. Canada WFS Product Requirements: Perishable or regulated products are prohibited; The maximum weight of the product is 150 lbs; The maximum size of the product is 96 inches. Now, for sellers who have opened WFS in Canada, Walmart has launched two blockbuster limited-time offers: free storage fees at the end of September 2023; From April 1 to July 31, 2023, WFS items sold will receive a 5% discount on logistics costs.
◆Shopee opens its May advertising incentive program
Shopee issued an announcement that the advertising incentive plan began in May 2023, and the campaign will be opened from May 1 to May 31, 2023, merchants can recharge ads on various channels, and if the cumulative recharge in the month reaches any file requirements, they can get the corresponding level rewards. Applicable to Malaysia site, Philippines site, Thailand site, Singapore site, Vietnam site, Brazil site, Mexico site, Taiwan Shopee and other sites. It is understood that the system will settle at the end of the month, and the advertising reward will be issued to the merchant's advertising account in early June 2023, which will be directly reflected in the merchant's advertising balance; This promotion reward is only available to stores that have never used ads before May 1, 2023 and recharge for the first time in the month. If the seller participates in new user activities such as platform new recruitment in the current month and becomes a new advertising user, as long as the merchant's advertising fund first recharge occurs in the current month, he can also get the cumulative recharge rebate for new users of advertising recharge.
◆Shopify lays off 20% of its workforce and sells its logistics business It will focus on core e-commerce products
On the occasion of Shopify's first quarter 2023 earnings report, its founder and CEO Tobias Lütke issued an open letter, announcing the sale of most of the platform's logistics business to logistics company Flexport, at the same time, Shopify will also cut about 20% of its workforce (about 2,000 people), and affected employees will receive at least 16 weeks of severance pay, which is also Shopify's second large-scale layoff since July last year.
◆Wish's revenue in the first quarter of 2023 was $96 million, down 49% year-on-year
ContextLogic, Wish's parent company, has announced its financial results for the first quarter of 2023. During the reporting period, Wish's revenue was $96 million, down 49% year-over-year; Net loss was $89 million, compared to a net loss of $60 million in the same period last year; Adjusted EBITDA was a loss of $62 million, compared to a loss of $40 million in the year-ago quarter. Wish's first-quarter core market revenue was $28 million, down 69% year-over-year; ProductBoost revenue was $8 million, down 43% year-over-year; Logistics revenue was $60 million, down 29% year-over-year. Joe Yan, CEO of Wish, said, "Based on our vision for the future of our business, our Board of Directors last month approved a $50 million share repurchase program. We believe this share repurchase program will support our efforts to unlock the long-term value and opportunity we see. In addition, Wish expects revenue for the second quarter of 2023 to be in the range of $91 million to $102 million; adjusted EBITDA expects a loss of $60 million to $75 million.
◆In April, the total number of visits to Lazada/Shopee sites reached 670 million
Data analysis website Similarwed recently released the number of visits (desktop + mobile) and related data of various e-commerce platforms in Southeast Asia in April 2023. In April, Lazada/Shopee sites (Malaysia, Singapore, Philippines, Thailand, Indonesia, Vietnam) received a total of 670 million website visits, down 1.3% from 679 million in the previous month.
◆ In Q1 2023, MercadoLibre's net profit increased by 208.5% year-on-year
Latin American e-commerce platform MercadoLibre announced financial results for the first quarter ended March 31, 2023. During the reporting period, the company's net income was US$3.073 billion, an increase of 58.4% year-on-year, net profit reached US$65 million, an increase of 208.5% year-on-year; operating profit was US$340 million, an increase of 145% over the same period of the previous year (US$139 million); and operating profit margin was 11.2%, higher than 6.2% in the same period last year.
◆Cdiscount's revenue plummeted in the first quarter of 2023
Recently, Cdiscount's parent company, Casino Group, released its financial report for the first quarter of 2023. In the first quarter of 2023, Cdiscount's total GMV was €712 million, down 15% year-on-year, and Cdiscount's revenue was only €324 million, down 24.2% year-on-year compared to €909 million in the same quarter last year.
◆AliExpress opened 5 positions in a month
Local cross-border e-commerce AliExpress announced that it will cooperate with Cainiao to add 5 new official warehouses in China, covering platform self-operators and fully managed merchants. After opening a position, the number of AliExpress Choice preferred warehouses increased to 10, and the number of preferred warehouses that platform merchants can choose to settle in increased to 13, adding tens of thousands of square meters in total area, providing more warehouse space for merchants.
◆Indian e-commerce Meesho started the third round of layoffs
Vidit Atre, founder and CEO of Indian social e-commerce platform Meesho, announced in an email to employees that it would lay off 251 employees, which is 15% of the total number of employees. All terminated employees will receive a severance allowance that includes a one-time severance pay for 2.5 to 9 months (depending on the employee's tenure and position), ongoing insurance benefits, job placement support, and stock options, as shown in the email.
◆"Nautical Chart Information" received more than 10 million yuan in angel round financing
Guangzhou Haiguo Tuzhi Information Technology Co., Ltd. (hereinafter referred to as "Haiguo Information") completed an angel round of financing of more than 10 million yuan, jointly invested by Wuhai Capital and Qianhai Kunpeng Capital. This round of funds will be mainly used for AIGC's core technology and equipment research and development, high-level talent construction, marketing and expansion.
◆PayPal Revenue in the first quarter of 2023 was $7.040 billion
Payment service provider PayPal announced the company's financial results for the first quarter of fiscal 2023. According to the report, PayPal net revenue for the first quarter was $7,040 million, up 9% from $6,483 million in the year-ago quarter, and up 10% year-over-year excluding the impact of currency changes. During the reporting period, the company's net income was $795 million, an increase of 56% compared to $509 million in the same period last year.
Russian e-commerce Joom will close inactive and inactive accounts
Russian e-commerce platform Joom issued a notice on the closure of inactive and inactive accounts. The notice said that there are currently a large number of poorly performing accounts on the platform. In order to adapt to Joom's new growth strategy, the platform will gradually close these accounts in the coming period. This account cleanup will involve the following types of accounts: the account has not completed the KYC process; Poor overall account performance, with an overall refund or cancellation rate of 7% or more, and multiple products with poor reviews; Low sales volume, no orders for the account in the last 90 days or 30 days after starting operations, or total account sales of less than $100. Meanwhile, sellers whose accounts are closed will receive payments after a 90-day payment delay. If the seller wants to return to the Joom platform to sell, they must log in merchant.joom.com re-register, and the account can only be activated after the platform review. Joom said that if the seller's account meets one of the above conditions, it may indicate that the seller is not much interested in selling on JOOM, and the value of these accounts to Joom's customers is insignificant. The platform believes that working with sellers who are active and focused on running the platform will ultimately benefit both buyers and sellers.
◆Lianlian International SHEIN US platform payment announced
In order to help more cross-border sellers settle in the SHEIN platform, achieve an efficient and stable business model, and unlock more global business opportunities, LianLian International takes the lead in supporting the SHEIN US platform to provide collection services for third-party sellers who settle on the platform, with ultra-fast arrival speed, lower collection costs and a new collection experience. It is understood that SHEIN is a cross-border B2C fast fashion e-commerce platform, according to data recently disclosed to investors by official executives, the platform's revenue reached $22.7 billion in 2022 and a net profit of about $700 million. In order to meet the needs of customers for product diversity, SHEIN, which was previously led by its own brand, aims to build the newly launched open platform SHEIN Marketplace into a global integrated platform, which was successfully implemented in March this year - SHEIN officially launched its platform model in Brazil. Following Brazil, SHEIN has also made an official announcement of its US platform model recently.
◆Lark Station Dongguan Cang, announced the Jumia platform sticker single delivery business
Skylark Station announced that its Dongguan warehouse has launched the Jumia platform for posting and dropshipping, which supports one-click submission and packaging, one-piece dropshipping and replacement, and batch stockpiling. It is understood that Jumia is an African e-commerce platform with business covering 9 countries in Africa: Nigeria, Egypt, Kenya, Uganda, Senegal, Morocco, South Africa, Ghana and Côte d'Ivoire. Last year, after opening the Jumia interface, Skylark Station undertook Jumia orders for a period of time, but due to the poor overall experience, Skylark Station chose to temporarily close, and after going to Jumia Dongguan warehouse on the spot to investigate and optimize the warehouse delivery process, Skylark Station decided to continue to undertake the jumia platform sticker business. Jumia platform Seko direct mail currently has 6 distribution points in China, which are located in Dongguan, Guangzhou, Hong Kong, Xiamen, Yiwu and Hangzhou. When submitting the cross-border warehouse system of Skylark Station, please select Dongguan Jumia Warehouse, and currently only Dongguan Warehouse handles orders on the Jumia platform.
◆J&T International opened a cross-border special line in Japan
J&T International has opened a cross-border special line (general cargo/special cargo) in Japan, with flights running five times a week, and the delivery warehouse is located in Shanghai and Dongguan for door-to-door pickup. The main customs clearance ports are in Osaka and Tokyo, and the IOR mode customs clearance supports dry food (such as dry food such as flour, cold peel, noodles, packaged nuts, etc.), and charged products (such as Bluetooth headsets, speakers, sweepers, lithium battery products built into tools, etc.). Japan's local fast local delivery service system provides sellers with timely and high-quality delivery services, covering the whole territory of Japan without remote surcharges; The whole time limit is 4-7 working days.
Domestic information
◆The cumulative number of declarations of Henan's "single window" cross-border e-commerce exceeded one billion
It was learned from Henan Electronic Port Co., Ltd. that with the expansion and upgrading of Henan's "single window" and the rapid development of cross-border e-commerce in the province, since Zhengzhou was approved as a national cross-border e-commerce comprehensive pilot zone in 2016, up to now, the overall business volume of cross-border e-commerce enterprises in Henan Province has exceeded 1 billion through Henan's "single window".
◆Tianjin Port cross-border e-commerce B2B exports exceeded 38 billion yuan in the first quarter
According to Tianjin Customs statistics, in the first quarter of this year, the B2B export volume of cross-border e-commerce at Tianjin Port was 38.26 billion yuan, an increase of 8.4 times year-on-year. In order to help the development of enterprises, Tianjin Customs adheres to the principle of "platform + industry" to promote the high-quality development of cross-border e-commerce B2B exports, "one-to-one" to help key enterprises transform and upgrade, and "one enterprise, one policy" to accurately carry out policy publicity; Actively connect with traditional industries and e-commerce platforms, solve difficulties and blocking points in deep integration, and expand marketing channels through new formats to consolidate market share; Focus on customs clearance facilitation, open a "green channel", provide enterprises with one-stop services such as advance declaration, direct loading on arrival, priority inspection, etc., and create a high-quality business environment.