In a striking turn of events, Tencent‘s WeChat app seems to have made a lot of progress in e-commerce, leveraging its short video and live streaming features. In 2023, these features propelled the app to nearly triple its gross merchandise volume (GMV), a clear indication of the growing trend of integrating social media and online shopping.

This was possible thanks to WeChat’s video section, known as Channels

The heart of this growth lies in WeChat’s video function, known as Channels. In 2023 alone, Channels saw a staggering 244% increase in orders compared to the previous year. This success story was shared at the annual Open Class Pro developer conference in Guangzhou, though the exact GMV figures were kept under wraps. This surge in e-commerce activity underscores the strategic foresight of Tencent’s CEO, Pony Ma Huateng, who, back in 2022, had identified short video as the future of the company.

Despite the impressive growth, WeChat’s e-commerce turnover still trails behind giants like Kuaishou and Douyin. However, Tencent isn’t deterred. It’s betting big on capturing a significant share of the market, leveraging WeChat’s vast user base of 1.34 billion. This strategy seems to be paying off, as WeChat Channels has become a major force not just in e-commerce, but also in advertising for Tencent.

The company is not resting on its laurels. Plans are underway to expand the live-streaming e-commerce team, diversify product categories, and enhance the WeChat Pay infrastructure. These moves are poised to solidify Tencent’s position in the online retail space. Interestingly, as of mid-2022, Channels had more active users than Douyin and Kuaishou, a testament to its growing popularity.

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China‘s online shopping giants, Taobao and JD.com, recently rolled out new refund policies that have sparked a wave of concern among sellers. These policies allow customers to receive refunds for products without returning them under certain circumstances. This change follows the lead of Pinduoduo, another major player in the Chinese e-commerce market.

This policy indicates a shift towards a more consumer-friendly approach

The shift towards a more consumer-friendly approach comes as these platforms battle for dominance in a highly competitive market. Alibaba, the parent company of Taobao, has always aimed to simplify doing business. However, this new policy is seen as a double-edged sword.

From the consumer’s perspective, this is a significant win. It offers an added layer of protection and confidence when shopping online. For instance, Tang Guangyao, a software developer from Beijing, expresses a preference for Pinduoduo due to its robust consumer protection policies.

But for sellers, the situation is more complex. There’s a genuine fear that some customers might exploit this policy. A 33-year-old owner of an apparel shop on both Taobao and JD.com voices concern that this could particularly hurt sellers of high-quality goods, as they face higher costs with increased refund claims. This fear is echoed across social media platforms like Douyin and Weibo, where sellers express frustration and worry about the potential for policy abuse.

Despite these concerns, Taobao and JD.com have measures in place to safeguard against misuse. Refund decisions on these platforms will be based on various indicators, including the merchant and buyer’s track records and big data analysis. Moreover, Taobao has provided an appeal option for merchants who feel they have been wronged by this policy.

However, analysts like Zhang Yi of iiMedia caution against a one-size-fits-all approach. Pinduoduo’s success with this policy stems from its focus on budget-priced goods, making the costs more bearable. For platforms like Taobao and JD.com, where a broader range of products and prices exist, the implications could be more challenging.

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Recently, JD.com, a major player in the Chinese e-commerce market, achieved a significant legal victory over its rival Alibaba. A court in Beijing ruled in favor of JD.com, ordering Alibaba to pay a hefty sum of $141 million for engaging in unfair market practices. This decision marks a pivotal moment in the fiercely competitive world of online retail in China.

Alibaba has been pressuring its online merchants recently

For years, Alibaba had been pressuring online merchants to choose exclusively between its platform and others – a practice known as “picking one from two”. This tactic, while common, was deemed monopolistic and harmful to competition. The ruling against Alibaba is a clear message that such practices will no longer be tolerated.

JD.com welcomed the court’s decision, viewing it as a win for fair competition. They argue that practices like Alibaba’s not only harm competitors but also limit choices for brands, merchants, and consumers. The verdict could pave the way for a more level playing field in the e-commerce sector, encouraging healthier competition and innovation.

This case is part of a broader movement in China to regulate monopolistic behaviors in the tech industry. In 2021, Alibaba faced a record fine for similar practices, signaling the government’s commitment to reining in the power of tech giants.

Interestingly, both JD.com and Alibaba recently introduced a “refund only” policy, a strategy to enhance consumer trust and satisfaction. This policy, first implemented by Pinduoduo, another e-commerce contender, allows consumers to keep purchased goods even if they file a complaint. Such moves suggest that the e-commerce giants are not just competing on price and product range but also on customer service and trust.

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Alibaba Group Holding’s recent leadership shake-up is a strategic move to reinforce its position as a top player in China’s e-commerce landscape. With the appointment of Eddie Wu Yongming as the head of Taobao and Tmall Group (TTG), Alibaba is not just changing faces; it’s signaling a deeper commitment to integrating advanced technology into its business model.

Rivals such as Pinduoduo have taken over a significant consumer market

Eddie Wu, who also leads Alibaba’s cloud unit, brings a tech-savvy approach to the company’s e-commerce operations. This change arrives at a critical moment when Alibaba faces intense competition from PDD Holdings, known for its budget-friendly platform Pinduoduo. Alibaba, once a pioneer in the online marketplace, has seen a dilution in its e-commerce focus as it expanded into various sectors. This diversification, while broadening its business scope, has opened doors for rivals like Pinduoduo to capture a significant market share by offering deep discounts and value deals.

Alibaba’s response to this challenge is a clear signal of its intent to revitalize its e-commerce strategy. By emphasizing artificial intelligence and consumer-centric operations, the company aims to streamline its services, potentially leading to lower operating costs for merchants and, subsequently, better margins for Alibaba. This approach is expected to involve algorithm-driven traffic distribution, similar to Pinduoduo’s strategy, making the platform more efficient and less labor-intensive.

However, Alibaba’s journey hasn’t been smooth sailing. The company has experienced considerable internal changes, including a major restructuring into six independent groups and the departure of key executives. These shifts, while part of its evolution, have created a sense of uncertainty about its direction.

Moreover, Alibaba’s bet on Chinese consumers ‘upgrading’ their spending habits didn’t pan out as expected, primarily due to the economic slowdown following the end of strict pandemic measures in China. This scenario favored Pinduoduo, which capitalized on the growing trend of value-for-money shopping.

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JD.com, China’s leading e-commerce player, is extending its reach beyond its domestic borders. The company has recently introduced an express delivery service that connects consumers in North America and Europe. This move comes at a crucial time as JD.com grapples with a slowdown in its home market.

This will open new growth avenues for the company

Launching from Shenzhen and Guangzhou, JD Logistics (JDL), the logistic arm of JD.com, is now offering its services to 23 countries, including heavyweights like the USA, Canada, Mexico, the UK, France, and Germany. This expansion is not just about reaching new customers; it’s a lifeline for the company as it seeks new growth avenues.

JD.com is known for its premium offerings, but the economic downturn in China has led to reduced consumer spending on luxury and non-essential goods. This shift in consumer behavior has pushed companies like JD.com to look outward for stability and growth.

Interestingly, the expansion also heats up the competition with Cainiao, Alibaba’s logistics sector. JD.com’s foray into Hong Kong and Macau with speedy delivery services marks a direct challenge to Cainiao’s operations. But it’s not just about competition. JD.com’s expansion reflects a broader trend of Chinese companies looking to globalize as the domestic market becomes increasingly challenging.

The company’s founder, Richard Liu Qiangdong, has been vocal about the need for change and improvement. His candid admission of past mismanagement and the company’s inefficiencies highlight the internal challenges JD.com faces. But with Liu’s determination not to “lie flat,” there’s a sense of optimism for the future.

JD.com’s global push could be a game-changer, not just for the company but for the global e-commerce landscape. As JD.com spreads its wings, it will be interesting to see how this bold move plays out in the competitive world of international e-commerce.

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Chinese app TikTok is taking one more major leap into Indonesia’s e-commerce market. In another striking US$1.5 billion deal, TikTok is set to become a key player in the Indonesian digital commerce space by acquiring a significant stake in GoTo Gojek Tokopedia’s e-commerce unit. That is, if all goes smoothly this time.

Temu and Shein hold control over the online shopping scene in Indonesia

This move marks TikTok’s re-entry into Indonesia’s e-commerce, following a temporary suspension by regulators. The investment is not just a financial transaction; it’s a statement of intent. TikTok is ready to tap into Indonesia’s booming online shopping sector, currently led by fast-growing platforms like Shein and PDD Holdings’ Temu.

The deal has sent ripples through the market, with GoTo’s shares experiencing an 8.3% drop post-announcement. Analysts are closely watching to gauge the impact this partnership will have on the market landscape.

The transaction details reveal TikTok’s plan to acquire 75.01% of Tokopedia, Indonesia’s largest e-commerce platform, for US$840 million, integrating its TikTok Shop business in Indonesia. This pilot partnership, closely monitored by regulators, is a significant step for both companies.

Indonesia, with a population of over 270 million and a high rate of social media engagement, presents a fertile ground for TikTok’s expansion. The company boasts 124 million users in Indonesia, and this deal could transform this user base into a significant e-commerce revenue stream.

The deal, expected to close by early 2024, includes a US$1 billion promissory note from TikTok to Tokopedia, ensuring operational funding. TikTok’s commitment to inject over US$1.5 billion into this venture over time underscores its dedication to establishing a strong foothold in the region.

With Indonesia’s e-commerce industry projected to grow from US$62 billion to approximately US$160 billion by 2030, TikTok’s strategic investment positions it at the forefront of this expanding market. This move signifies a major shift, not just for TikTok and GoTo, but for the entire e-commerce landscape in Southeast Asia.

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There’s a new buzz in the world of e-commerce, and it’s all about Temu, a fresh face from China, shaking up the traditional American dollar store scene. With its clever use of social media influencers and an array of budget-friendly products, Temu isn’t just another online store; it’s a trendsetter at the moment.

The budget platform is giving tough competition to Dollar Stores

Imagine finding everything from chic $10 shirts to quirky $4 home decor at the tap of a screen. Temu’s approach is simple yet effective – offer what people want at prices they can’t resist. And it’s working. As of last month, they’ve snagged nearly 17% of the U.S. market share in the discount sector.

But why is Temu grabbing headlines and market share alike? It’s their knack for understanding the modern shopper. In today’s fast-paced world, people are looking for quick, easy, and affordable shopping solutions. Temu delivers this by cutting out the middleman, connecting consumers directly with manufacturers. This isn’t just shopping; it’s smart shopping.

Moreover, Temu’s strategy aligns perfectly with the current economic climate. As prices soar and wallets tighten, Temu offers a haven for the budget-conscious, proving that you don’t have to spend big to live big. This philosophy is reshaping consumer behavior, challenging the dominance of traditional dollar stores.

What’s particularly intriguing about Temu’s rise is its impact on the retail landscape. It’s not just about offering low prices; it’s about creating an experience – one that’s fun, engaging, and rewarding. This approach has sparked a shift in how people view discount shopping, turning it from a necessity into a desirable activity.

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Alibaba, a big name in online shopping in China, is changing its game. The new boss, Eddie Wu, says the company is going to focus a lot on artificial intelligence (AI). They want to be the place where all sorts of businesses come for help with AI.

Alibaba is splitting into six units, including e-commerce, cloud computing & entertainment.

Wu shared this big plan at a conference where many internet big shots and government people were listening. He’s the new CEO and he’s looking to shake things up. Alibaba is known for its shopping sites like Taobao, but Wu believes AI is the future.

They’re not just talking about AI; they’re getting their hands dirty with it. Alibaba has a cloud service, like a giant digital storage space, which is now a big deal in China for AI stuff. They’ve even made their own version of ChatGPT. It’s called Tongyi Qianwen, and it’s a big step for Alibaba in the AI world.

Wu thinks that soon, AI will be a part of everything we do – at work, at home, everywhere. Alibaba wants to help businesses keep up with changes by using AI. It’s not just about being the top technology company; it’s about making things smarter and easier for everyone.

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Amid growing concerns over potential antitrust actions and an upcoming meeting with the FTC, Amazon is taking a significant step to downsize its private-label offerings. The Wall Street Journal has reported that Amazon will phase out a substantial majority of its clothing brands, dropping 27 out of 30, and will discontinue all private-label furniture lines, including the Rivet and Stone & Beam brands.

Amazon will, however, retain its flagship brands, Amazon Basics & Essentials

The move comes as the e-commerce giant is trying to focus on products that connect with customers. Matt Taddy, VP of Amazon Private Brands, explained, “We always make decisions based on what our customers want,” emphasizing their commitment to value and quality with the flagship brands like Amazon Basics and Amazon Essentials.

Interestingly, three of Amazon’s clothing labels – Essentials, Collection, and Amazon Aware, will remain. While the company has not explicitly linked this retraction to the anticipated FTC lawsuit, the correlation seems more than mere coincidence. Amazon representatives are scheduled to meet with FTC chair Lina Khan and commissioners Rebecca Kelly Slaughter and Alvaro Bedoya next week in a discussion viewed as a last-ditch attempt to forestall legal proceedings. The meeting follows a four-year investigation into Amazon’s alleged anti-competitive behavior, with a separate lawsuit also underway concerning misleading Prime subscriptions.

At the core of FTC’s interest lies Amazon’s engagement with third-party sellers. Reports from 2020 revealed that the company used internal data about these sellers to create in-house products, which led to a decision to cease promoting its in-house brands in search results. This reflects a new era for the retail giant. The coming weeks are likely to reveal more about the implications of this move and how it aligns with the broader legal landscape for Amazon.

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In an effort to tap into the lucrative livestreaming e-commerce market, YouTube is set to launch its first official shopping channel in South Korea on June 30. The move comes as YouTube seeks to diversify its revenue streams and counter the impact of reduced ad spending and competition from emerging platforms like TikTok.

The Share Prices of YouTube shopping competitors in South Korea are being affected

South Korea, known for its thriving livestreaming e-commerce market led by tech giant Naver, presents an ideal test market for YouTube’s entry into this sector. The global launch of the shopping channel in South Korea will serve as a pilot project, with plans to potentially extend its operation beyond the initially planned 90 days.

The shopping channel, primarily conducted in Korean, will feature over 30 prominent brands, including Samsung Electronics, LG Electronics, Baskin-Robbins, Dunkin’ Donuts, Cosme, and Puma. These brands will engage in live streaming sessions to showcase their products and interact directly with consumers, offering a unique (and ultra-modern) shopping experience.

Google Chief Business Officer Philipp Schindler highlighted the significance of this venture, stating that enabling people to shop seamlessly from their favorite creators, brands, and content holds immense potential. With YouTube’s vast user base and reach, the shopping channel has the potential to revolutionize the way people discover and purchase products.

Following the announcement, shares in Naver experienced a 4 per cent decline, while Lotte Shopping, a prominent retailer, witnessed a 3.3 per cent decrease. This demonstrates the impact of YouTube’s entry into the market and the potential disruption it poses to existing players.

Industry analysts at Jingbo Securities predict substantial growth in South Korea‘s live e-commerce market, with projections estimating a rise from 2.8 trillion won (~$2.1 billion) in 2021 to 10 trillion won (~$7.7 billion) in the near future. Currently, Naver dominates approximately 60 percent of the market share, but YouTube’s entrance is expected to promote competition and reshape the industry landscape.

As YouTube ventures into live e-commerce with its innovative shopping channel, it remains to be seen how this new endeavour will shape the future of online shopping in South Korea and potentially expand globally. The fusion of entertainment and commerce could redefine the consumer experience and open up new avenues for brands and creators to connect with their audiences.

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Besides Etsy sellers affected by the sudden shut down of Silicon Valley Bank(SVB), many more American companies and businesses have revealed recently that they were affected by the collapse of SVB. Amongst those banking with SVB, the most notable are Vox Media, Roblox, Roku and Circle.

Vox Media

Let’s start with the most famous one in tech circles, Vox Media. Vox Media is the parent company of The Verge – the popular online technology news outlet based in the United States, Vox – the viral American news and opinion website, and Polygon – the entertainment news website that covers news from the video game industry, as well as movies, comics, television and books.

The New York Times reported that Vox Media had a substantial amount of its operational cash in Silicon Valley Bank. The Vox Media personnel who was familiar with New York Times also told that Vox Media’s credit cards, which Silicon Valley Bank issued, had stopped working on Friday.

The personnel also claimed the company does not expect any disruption to its business yet, including payroll to its employees. Penske Media, Vox Media’s largest shareholder, said in a statement that it was ready if the company required additional capital but added that it didn’t foresee any issues for the time being.

Roblox

Roblox, the 21st century viral online game platform and game creation system, has also been affected by Silicon Valley Bank’s shutdown by regulators. According to Forbes, Roblox Corporation held 5% of its $3 billion in cash (150 million USD) at the bank. However, according to a filing, the video game company said SVB’s collapse will “have no impact” on its day-to-day operations.

Unity

Unity Technologies, the American video-game technology maker widely known for its video game engine, Unity, disclosed to authorities in the country today that the company held less than 5% of its cash and cash equivalents at Silicon Valley Bank and expects “minimal impact” from the bank’s collapse.

However, Unity Technologies has swiftly informed its video game publishers using Unity via email to swiftly update their payout institution from SVB to other banks before March 20, 2023 to avoid delays in payments.

Roku

Roku is an American corporation that offers Roku TV, its hardware digital media players, and a service of releasing streaming media content on its TV players.

Roku showed much concern in its SEC filing. The company reports that 487 million USD of its cash was within SVB, which is 26% of the company’s assets. What is more worrying is that Roku’s deposits with Silicon Valley Bank are largely uninsured. At this time, Roku does not know to what extent the company will be able to recover its cash on deposit at SVB.

Circle

American Cryptocurrency firm Circle, the owner of stablecoin USDC, had a massive 3.3 billion USD invested with Silicon Valley Bank, the company revealed in a tweet. That’s around 8 per cent of the company’s total $40 billion, which is held elsewhere.

Circle, stated in a statement, “Like other customers and depositors who relied on SVB for banking services, Circle joins calls for continuity of this important bank in the U.S. economy and will follow guidance provided by the state and Federal regulators.”

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Etsy, the American e-commerce platform famous for DIY handmade or vintage items and craft supplies, is reportedly struggling to pay its sellers on time after the collapse of Silicon Valley Bank(SVB) yesterday.

Sellers on the Etsy platforms reported on Reddit and Twitter today that payments that were due to be credited to their bank accounts yesterday have not been credited by Etsy. In turn, Etsy has sent out an immediate email informing affected sellers, there is a delay in issuing payments to its sellers of the platforms, and the company is currently working with its other payment partners to resolve the matter as soon as possible. 

No concrete day or date was mentioned for how long the delay would last, so it is assumed that Etsy sellers’ funds they earned from selling their products on the website have been withheld by Etsy indefinitely. Thus, this is the first major effect of the SVB bank collapse that has impacted the general American consumer market.

Upon receiving the email, sellers were expressing their concern and anger on social media. Some sellers also went out to report the Etsy payment delays to news outlets such as NBC News, claiming that the Etsy delays will have a “catastrophic effect” on their business. 

NBC quotes American small business owner, Owen McKinney, who runs Kentucky Country Home laser engraving business, that he relies on Etsy’s deposits to pay for items like shipping costs and materials. Because of the Etsy delay, he had already reached out to one of his suppliers to delay an order for materials that he needed for next week.

As per official info online until 31 December 2022, Etsy had over 100 million items in its marketplace and the online marketplace for handmade and vintage goods connected 7.5 million sellers with 95.1 million buyers. In the fiscal year of 2022, Etsy garnered revenue of US$2.6 billion and registered a net loss of US$694 million, as a blitz scaled tech startup. 

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Chinese tech conglomerate, Alibaba is known locally and globally for its e-commerce online trading platforms which have enabled a more globalised economy in the 2010s and 2020s. Recently, Alibaba-owned Southeast Asian online shopping platform, Lazada, has gone through a management reshuffle and has appointed a new CEO for the Lazada company.

As of Jun 3rd, the new chief executive officer for Lazada in the Southeast Asian region is Mr James Dong, replacing former CEO, Chun Li. 

Dong was a former associate partner at McKinsey & Co and a proud MBA graduate from Cambridge University. He had served as the head of globalization strategy and corporate development at Alibaba Group and as a business assistant to group CEO Zhang before joining Lazada as its CEO for Thailand in 2018.

In 2019, Dong was then appointed for CEO for Lazada Vietnam as well while still holding the position of CEO for Lazada Thailand. During his term as CEO, he oversaw a push to bolster logistics and improve operations to cope with rising orders at the height of the pandemic. Between June and August of 2021, at the peak of the fourth wave of Covid-19 in Vietnam, Lazada’s orders in the country quadrupled from a year earlier, Bloomberg reported, quoting Dong.

“Since James joined Lazada in 2018, he has quickly delivered success in his various roles,” the company said in its statement.

Dong has since passed on the Vietnam top role to Kaya Qin and had continued on as CEO for Thailand, where he led the launch of a new social commerce platform.

Chun Li, the former CEO of Lazada for the entire Southeast Asian market since 2020, has now been delegated a new role as advisor to Lazada Group Chairman Jiang Fan and stay on the company’s board, according to a company statement.

The Lazada brand has recently been facing fierce competition in the Southeast Asian market with rapidly growing e-commerce sites in the region such as Shopee and JD. Despite these growing concerns, the Lazada brand is reportedly looking for expansion into the European market as well to continue growing its business operations.

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Hekka.com is a direct-to-global consumer online retailer. Devoted to improving customer service, meeting customers’ requirements, and striving to exceed the customer’s expectations, Hekka provides consumers with a rich variety of products and resources like consumer electronics, fashion and apparel, health and beauty, toys and gifts, sports, and outdoors, automobiles accessories, etc. 

The hekka shopping festival 2022 is now live on their website. Under this festival, you can get up to a 49% discount on popular brands. Moreover, under the shopping festival, you will get free shipping on all storewide orders. So make sure to check out their deals and discounts at hekka.com.

For more information on such exciting deals and offers check out our deals hub.

* Please Note: When you buy something using the links in our articles, we may earn a small commission at no cost to you.

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PayPal, one of the leading and well-known online payments platforms, is in advanced talks to acquire digital pinboard platform Pinterest for $45 billion. The development was first reported by Bloomberg, citing people aware of the matter but didn’t want to be identified.

If the deal goes through, then it will mark the biggest acquisition of a social media company so far. Currently, Microsoft’s acquisition of LinkedIn for $26.2 billion in the year 2016 is the biggest transaction in this category.

A source aware of the development has said that PayPal is offering $70 per share for the acquisition of Pinterest, mostly in stock. If everything goes as expected for the online payments provider, then the deal could be announced early next month when PayPal reports its quarterly earnings.

However, do note that the deal isn’t certain yet and the terms associated with it could get changed. As the news surfaced online, the shares of PayPal fell while Pinterest saw a surge in its shares.

With the acquisition of Pinterest, PayPal would be able to capture more of the e-commerce growth as online shoppers are following influencers on platforms. It will also help the company diversify its income with advertising revenue.

Pinterest was valued at about $13 billion when it went public in 2019 and since then, the company saw a huge spike in users looking for crafts and DIY project ideas because of the COVID-19 pandemic. The company has warned about slowing user growth, especially in the US, as lockdowns eased.

The price offered by PayPal for the acquisition of Pinterest, founded in 2010, is 62 times the social media company’s earnings before interest, taxes, depreciation, and amortization over the last 12 months.

PayPal has turned towards acquisition to boost its e-commerce offerings. In 2019, the company purchased Honey Science for $4 billion, and earlier this year, it acquired Japan-based Buy-Now-Pay-Later (BNPL) firm Paidy for $2.7 billion. It has also acquired return-service provider Happy Returns in May this year.

In related news, Pinterest co-founder Evan Sharp announced last week that he would step down as the company’s chief creative officer to join LoveFrom, a firm led by Jony Ive, known for designing many Apple products.

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India has proposed banning flash sales on e-commerce platforms and preventing affiliates of the e-commerce entity from being listed as sellers, in a bid to tighten rules that could severely hurt the prospects of Amazon and Walmart’s Flipkart in the country.

The proposed rules from the Ministry of Consumer Affairs come amid complaints by brick-and-mortar retailers that foreign e-commerce players are bypassing Indian laws by using complex business structures. They are raising their voice against the alleged unfair practices by Amazon and Flipkart to expand their operations in India.

The rules say that e-commerce companies should not hold flash sales in India. For those who are unaware, flash sales are hugely popular during the festive season but have faced anger among offline sellers who say they cannot compete with the deep discounts online.

It also adds that e-commerce firms must also ensure that none of their “related parties and associated enterprises” are listed as sellers on their shopping websites, and no related entity should sell goods to an online seller operating on the same platform.

Similar to the recent IT rules, India is also proposing the e-commerce firms appoint a Chief Compliance Officer, a nodal contact person for 24×7 coordination with the law enforcement agencies, and officers to ensure compliance to their orders as well as a resident grievance officer for redressing of the grievances of the consumers on the e-commerce platform.

With the new rules, Amazon, Flipkart, and other similar e-commerce platforms may be prohibited from running their private label brands as it asks firms to ensure that none of their related and associated parties are listed on their platforms as sellers for selling to customers directly.

Currently, India does not allow e-commerce firms to hold inventory or sell items directly to consumers. To bypass this, the companies are operating through joint ventures with local companies that operate as inventory-holding firms.

In response, Amazon has said that it is reviewing the proposed policies while Flipkart hasn’t commented on the matter. The proposal, which is applicable to both Indian and foreign players, is open for public consultation until July 6.

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Amazon has just announced a 250 million US Dollars fund that will be set up in India. This large fund will be targeting small to medium scale businesses to bring digitalization to these firms, and bringing innovation into areas like agri-tech and health tech in India.

According to a TechRadar report, the fund was announced in the opening session of Amazon India’s flagship event Smbhav. During this event, Andy Jassy, AWS CEO and incoming CEO of Amzon, and Amit Agarwal, Global Senior VP and Country Head, Amazon India showcased the company’s long term commitment towards India’s Aatmanirbhar Bharat effort, an initiative from the local government to become more self reliant. Furthermore, the e-commerce giant also announced its plans to digitally empower and bring 1 million offline retailers and neighborhood stores online.

In other words, the company aims to bring these sellers to its online marketplace by 2025 through the ‘Local Shops on Amazon’ programme. Notably, the announcement from the company also arrives amid reports of the local government drafting policy that is against foreign e-commerce based firms. Similarly, the company’s CEO Jeff Bezos announced its plans on investing 1 billion US Dollars at the maiden edition of Amazon Smbhav event to digitally enable 10 million Micro, Small and Medium enterprises (MSMEs) back in January 2020.

This would have created e-commerce exports worth 10 billion US Dollars and create about 1 million additional jobs in India by the year 2025. Amit Agarwal further added that “The launch of the Smbhav Venture Fund aims to attract best ideas and empower entrepreneurs in the country to partner in this vision. Additionally, our initiatives to on-board 1 million offline shops on Amazon.in and digitally empower the North East region will accelerate the progress towards a digital and self-reliant India.”

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One of the world’s biggest online shopping bonanza, which is held in China on 11th November every year, called Double 11 or Singles’ Day sale, kicked off today at midnight in China and impressive sales numbers are now being revealed.

As per the report coming from SCMP, Alibaba Group Holding managed to sell products worth 372.3 billion yuan or $56.3 billion in the 10 days leading up to the main event. So far, it has generated sales worth $38.4 billion today, i.e. 11th November.

Do note that the numbers mentioned above are just for the sales generated through the platform owned by Alibaba. The reason behind such massive numbers is that the sales started early this year, from 1st November. Also, many shoppers are now preferring to make their purchases online because of the COVID-19 pandemic.

The report also mentions that Alibaba is claiming this year’s Singles’ Day to cover over two million new products on the platform — twice the number compared to last year. The company is also claiming that transactions per second peaked at 583,000 this year.

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Alibaba also says that within 111 minutes of sales kicking off on 1st November, around 100 brands managed to sell products worth 100 million yuan. On the other hand, JD.com claims that its sales on 1st November were 90 percent higher compared to last year. The company’s transaction volume also reached 200 billion yuan and that is just through the first 10 minutes on 11th November.

Because of the COVID-19 pandemic, e-commerce transactions have increased in China. As per the report from the Ministry of Commerce, China’s online retail sales reached 5.15 trillion yuan in the first half of the year, representing a rise of 7.3 percent compared to the same period last year.

If you want to take a look at some of the most interesting and best deals during the Singles’ Day (Double 11) sale in China, head over to our Double 11 deals page.

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With the Indian government drafting new e-commerce policies, tech giants like Google and Amazon may face new harsher rules. The new policies are being drafted to help local startups in the region while also having government oversight on how big corporations handle data.

The new e-commerce policy drafts have been in the making for at least two years now, through which, the government will appoint a new regulator. This regulator will ensure fair practice and competition within the industry and will have broad access to information resources. The new policy drafts have been prepared by the ministry of commerce department for the promotion of industry and internal trade.

According to proposed rules, the government will have mandated access to online companies’ source codes and algorithms. In other words, the ministry wants access to internal workings of big corporations to ensure against “digitally induced biases.” India’s digital economy is a booming market with a massive user count number in half a billion. Furthermore, it is still growing with notable areas being content streaming, online payments, e-retailers, and even social media platforms.

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In these aforementioned areas, global corporations are ruling the market with a massive dominance, making it harder for local startups to enter the market. Just recently, the government had banned 59 Chinese applications over security issues and the newly proposed policies are along the same lines. In the draft, it is mentioned that “there’s a tendency among some of the leading companies to exercise control over most of the information repository.”

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(Via)

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E-commerce and the process of buying products online or offline grown tremendously over the past couple of years. This has led many brands to focus more on own their websites or partner with major e-retail sites to sell online. Now, Bose is also following the same route as the company has issued a statement that it is closing down all of its retail stores in the US, Australia, Japan, and Europe.

The main reason for this as the company stated was due to the fact that most of its speakers, headphones and other audiophilic products were being bought online. This makes the point of physical stores rather obsolete and cumbersome. Notably, the first Bose physical retails store opened back in 1993 and has numerous locations in both shopping centers and malls across the globe.

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According to Bose, a total of 119 stores will be shut down over the course of the next few months. However, approximately 130 physical stores will still remain open in various other countries like China, United Arab Emirates, South Korea and a few Southeast Asian regions like India. The company is even offering “outplacement assistance and severance to employees” that will lose their jobs when such physical stores close.

Currently, Bose sells its entire lineup online through Amazon, Best Buy, Target, Apple Stores and various other third party retailers. This includes its signature noise cancelling headphones and its renowned home audio systems to even portable Bluetooth speakers. The company with its stores aimed to deliver a way for customers to experience its products without purchasing first, but the booming growth of e-commerce has since made it outdated.

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(Source)

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With the immense growth of e-commerce on a global scale, an awful lot of inventory and packaging are sent on one way trips. This results in a large amount of waste being gathered and resources being drained. But now, a startup by the name of LivingPackets has developed a reusable box that might replace the conventional cardboard boxes we see being used every day.

THE BOX

Interestingly, the reusable form of packaging has been dubbed THE BOX. And apart from its reusability, it also arrives with an integrated E Ink display, which seeks to replace traditional shipping labels. One of THE BOX’s main highlight feature is the fact that it can be used up to 1,000 times before needing a replacement.

To make THE BOX viable, LivingPackets also included the E Ink display which only consumes power when the label changes. Thus, it is also energy efficient, whilst also featuring environmental sensor to measure the temperature, humidity, and shocks. It can also connect to the internet allowing THE BOX to be tracked via an app.

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Viability

According to LivingPackets, the production cost of the reusable box is around 100 times more than a conventional cardboard box. However, the company further added that it could actually savs customers (major e-commerce firms and rather any company with inventory) money in the longer run. Additionally, THE BOX even helps reduce CO2 emissions (Carbon Dioxide) and other wastes if it is reused properly.

LivingPackets with THE BOX is planning on developing an ecosystem through which it charges its customers for its services, not the reusable box itself. Customers can also send packages using a smartphone app by selecting a carrier and method of delivery. Thus, it would even enable delivery brands to save money with the reusable form of packaging.

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(Via)

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Startups in India have raised a record 14.8 billion US Dollars in 2019 alone. It marks a major year on year growth from 10.6 billion US Dollars back in 2018.

According to Tracxn, a research firm, Tech related startups in India this year had participated in over 1,185 financial rounds. In this, about 459 of these were Series A (1st stage startups after conceptualisation) or later rounds raised the amount from 917 different investors. Notably, about 81 of these financial dealings were in between the sizes of 25 million to 100 million US Dollars.

On the other hand, early-stage startups also participated in pre-Series A financial rounds and raised upwards of 6.9 billion US Dollars. This is a bit more than double of last year’s 3.3 billion US Dollars, according to reports from a venture debt firm named InnoVen Capital.

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Furthermore, 128 startups in India also got publicly listed which attracted a record number of international investors in 2019. This is indicative of the Southeast Asian country’s strong growth which is on a steady climb. To paint a broader picture, Indian startups only raised about 550 million US Dollars at the start of the decade back in 2010.

Initially, these startups were more inclined towards western trends, in which they provided e-commerce solutions and ideas to the market. Now, they are highly diversified and take on all sorts of fields tackling anything under the Sun. Reportedly, there a 150 educational and learning app startups, 160 fintech startups, 82 ride hailing services (Similar to Uber), 42 insurance firms, and a lot more.

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(Via)

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Chinese e-commerce giant Alibaba has set a new sales record for its annual Singles Day sale, posting a sales figure of over $30.8 billion, up 27 percent compared to last year. This year’s Singles Day sale has been by far the largest-ever to date. Just 15 hours and 49 minutes into the spending spree, transactions on the platform leapfrogged that of 2017’s tally of $25 billion.

The Singles Day sale, which is also called “Double 11”, is the world’s biggest online sales event which also outstrips the sales of U.S. shopping holidays Black Friday and Cyber Monday combined. It was originally a novelty student holiday to celebrate being single, countering Valentines Day but has since grown into a 24-hour online retail frenzy on November 11.

However, this 27 percent growth also marked the company’s lowest annual increase in the history of Singles Day sale. The slowdown came on the heels of Alibaba’s weakest revenue growth since seven quarters ago and a cut in annual revenue forecast. However, the company’s revenues are still increasing at a healthy rate of 54 percent year-over-year.

Alibaba has also faced new challenges this year, such as new rivals in the market, a slowing economy and its stock dropping 16% thanks to China’s trade war with the US.

Some 180,000 brands are available in the shopping blitz, which includes top technology companies such as Xaomi, Apple, and Dyson, among others. Apart from China, the company has also expanded the event to the Western market, with downloads of its app AliExpress surging in the US and UK.

Alibaba has also tapped into physical stores and is poised to “digitize the whole consumer retail market.” Since the last two years, the company has been jostling with close rival JD.com to snap up strategic partnerships with brick-and-mortar retailers to reach more consumers.

The company also has its sights set on international consumers. This year, merchants from over 200 countries participated in Singles’ Day, including those on Alibaba’s Southeast Asia-based Lazada platform.

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This Singles Day sale is expected to be the company’s final November sale with founder and chairman Jack Ma at the helm as Daniel Zhang will take over as chairman next year.

(Source)

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JD.com, one of the largest online retailer in China, has today announced the launch of Toplife — an e-commerce platform for luxurious products. It aims to bring the personalised shopping experience of luxury brick-and-mortar stores to e-commerce.

Toplife, as per the company, is a new, exclusive full-price online shopping platform. It wants to be the go-to platform for high-end global brands to reach affluent Chinese customers directly.

The platform will allow brands to set-up their flagship stores that they can customize. Brands will have complete control regarding every aspect of their flagship store’s appearance.

Toplife will feature a wide range of luxury and high-end stores from category-leading global brands covering fashion, jewellery, watches, health and beauty, home furnishings, cosmetics, and electronics.

Brands which opts to use this new platform will get value-added services from JD.com, including premium 24-hour a day customer support and fulfilment, and precision brand-building and marketing resources.

Some of the leading brands which have already joined Toplife include La Perla, Emporio Armani, Rimowa (LVMH), B&O Play and Trussardi. More brands are expected to get listed on the platform in the coming weeks.

The warehouse is located in JD’s advanced “Asia No. 1” fulfilment centre, which features technologies such as dust-free sealed spaces, strict temperature and humidity controls, robotics, and advanced security systems.

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To provide the overall luxury shopping experience, Toplife will be offering rapid and secure product delivery through JD’s self-operated nationwide logistics network. Customers will get JD Luxury Express, the white-glove delivery service that is currently available in major cities of China.

Toplife will also offer unrivalled customer support and has already formed a new team of in-house fashion consultants specially trained to advise customers of luxury products.

Chinese e-commerce companies have been battling to get the major chunk of the online luxury sector. Alibaba launched Luxury Pavilion in August this year, and with this new Toplife from JD.com, it will be interesting to see who gets the biggest slice of the market.

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