Amazon ranked first in GMV fault in the first half of the year; TEMU is triggering a new round of price wars; MSC acquires a UK logistics company!

Amazon's first GMV fault in the first half of the year

On September 6th, according to publicly available data, cross-border research shows that Amazon's Gross Merchandise Volume (GMV) for the first half of 2024 reached $350 billion, leading Shopify's $128.1 billion and achieving the top spot in the gap. Among the four small dragon platforms for China's overseas expansion, Alibaba's AliExpress has a GMV of 30 billion US dollars; SHEIN's GMV is $30 billion; The GMV of Pinduoduo (TEMU) is $20 billion; The GMV of TikTok SHOP is $10.7 billion.

According to the situation of GMV in the first half of the year, the top 20 are Amazon, Shopify, Wal Mart, Shopee, eBay, AliExpress, sheen, Maxtor, TEMU Lazada、OZON、Wildberries、TikTok SHOP、Zalando、trendyol、Wayfair、Etsy、Coupang、otto、Jumia。

Temu is triggering a new round of price wars

On September 6th, market analysis firm Cube Asia released a study indicating that Temu's entry into the Thai market may trigger a new round of price wars. Cube Asia's research found that Temu's branded products only account for 12% of its product selection. And a large part of the product categories on established platforms come from official stores (so-called "malls"), operated by brands or authorized distributors.

Cube Asia stated that Southeast Asian consumers have become accustomed to low-priced Chinese goods, and Temu directly connects manufacturers and wholesalers (mainly in China) with customers around the world, thus providing lower prices than existing platforms. For existing platform sellers, in order to maintain market space, they need to be prepared for price wars.

MSC acquires a UK logistics company

On September 6th, Medlog, a subsidiary of Mediterranean Shipping (MSC), completed the acquisition of Maritime Group, a British logistics company. Both parties did not disclose the value of the transaction. According to the announcement, with the support of Medlog's new investment, Maritime Group will continue to operate under its existing brand, and the management team led by John Williams will remain unchanged.

Newegg's revenue for the first half of the year was 618 million US dollars

On September 6th, Newegg, a US e-commerce platform, announced its financial report for the first half of 2024. As of June 30th, Newegg's revenue for the first half of the year was 618.1 million US dollars. The following is a summary of Newegg's financial performance for the first half of the year: revenue of $618.1 million; GMV is 746.7 million US dollars; Gross profit of 63.1 million US dollars; The net loss was $25 million, compared to $29.3 million in the same period last year.

Amazon will have 9.7 million sellers

On September 6th, it was reported that Amazon expects to have 9.7 million sellers by the end of 2024, of which 1.9 million will be active sellers. Currently, seller sales account for 60% of Amazon's total sales. Amazon's product catalog exceeds 12 million, including books, media, wine, and various services, with a total product quantity of over 350 million.

In 2024, 839900 new sellers have entered the market, with approximately 3700 new sellers added every day, and this number continues to rise. By the end of this year, it is estimated that the total number of new sellers will surge to 1350500. More than 2 million active sellers are thriving on Amazon, with slightly varying numbers of Amazon sellers in different countries/regions.

COSCO Shipping and TCL Launch New Cooperation

On September 6th, the launch ceremony of the cooperation between COSCO Shipping and TCL's North American warehousing business was held in Fontana, California, USA. This is an important part of the strategic cooperation between COSCO Shipping and TCL's end-to-end logistics business, which will further optimize TCL's supply chain management in the North American market, improve logistics efficiency, enhance service experience, and help TCL expand into the North American market. It is reported that the overseas warehouse is located in the Los Angeles area of California on the west coast of the United States, adjacent to the Port of Los Angeles and Los Angeles Airport. Its business scope covers the entire cross-border logistics chain, and all services are supported by advanced digital systems to achieve real-time tracking and monitoring, helping TCL achieve fast and reliable product delivery in North America.