August 2024 - Marketplace News

How online retailers are preparing for the 2024 holiday shopping season

To learn more about what retailers are cooking up prior to the 2024 holiday shopping season, Digital Commerce 360 paneled 23 online retailers.

By July, the most prepared retailers are already planning for the holiday shopping season. To learn more about what retailers are preparing for leading up to the 2024 holidays, Digital Commerce 360 surveyed a panel of 23 online retailers.

Digital Commerce 360, August 26, 2024

E-Commerce Alone Keeps Retail Sales Growing

E-commerce growth is slowing again, but not because shoppers are returning to physical stores. Online shopping accounted for 51 cents of every new dollar spent in retail.

Based on the Department of Commerce data, e-commerce spending in the U.S. was up 6.5% in the second quarter.?That’s a slowdown from both the first quarter and 2023 Q2. Three of the slowest e-commerce growth quarters in the past 15 years occurred within the last two years; 2024 Q2 was one of them.

Marketplace Pulse, August 21, 2024

Dutch online sales expected to increase 8%

Online revenue in the Netherlands is expected to increase 8 percent this year, compared to 2023. Meanwhile, the total retail revenue will increase only 2 percent. This is due to an expected decline in supermarket sales, because of a ban on selling tobacco in those stores.

These data come from the newest Retail Outlook from Dutch bank ING. According to the study, online revenue in the Netherlands increased 6 percent in 2023 compared to a year earlier.

Ecommerce News, August 16, 2024

TikTok Shop increases seller fees in the UK

As of September 2nd, TikTok Shop sellers based in the United Kingdom will need to pay higher commission fees. The fees are being raised from 5 to 9 percent. However, if sellers reach a target number of TikTok Live and shoppable videos, they can reduce these fees.

It is the first time that Tik Tok raises seller fees since the launch of its online marketplace in the United Kingdom in 2022. Back then, the international subsidiary of Chinese company ByteDance announced that it would expand further in Europe.

Ecommerce News, August 08, 2024

Amazon Resale replaces Amazon Warehouse with new rebrand

The resale marketplace's rebrand debuted on a new dedicated homepage on Amazon.

Amazon Inc. announced a rebrand for its online resale marketplaces. The move is designed to make it easier for customers to discover discounted items from top brands.

Amazon Resale, previously called Amazon Warehouse, continues to offer a wide selection of used, pre-owned and open-box products. These options cater to a growing demand for affordable alternatives.

Digital Commerce 360, Aug 20, 2024

Temu declares European marketplace open

Temu officially invites European merchants to register as sellers on its platform. Merchants are responsible for their product assortment, inventory management, and the shipping of sold products. Temu determines the consumer prices for the goods.

Having quickly grown with a consignment model, Temu additionally announced a local-to-local model earlier this year. In this alternative setup, selling partners handle the shipping of products themselves.

Ecommerce News, August 22, 2024

The Rise of Temu and Shein: What It Means for Amazon and Its Sellers

Amazon, with nearly half of its top third-party sellers hailing from China, has long dominated e-commerce. In recent months, it faces a new threat from Chinese marketplaces like Temu and Shein. These platforms are shaking up the industry with ultra-low prices and direct shipping from China, challenging Amazon’s traditional model.

But Amazon is shaking things up too. It’s slashing fees on low-priced clothing and launching a new section for bargain shoppers, offering direct shipping from China to the U.S.

Feedvisor, August 12, 2024

MediaMarkt’s marketplace sales double

Ceconomy, the owner of MediaMarkt and Saturn, has had a strong quarter. Its own online sales increased by almost 10 percent. Additionally, MediaMarkt is growing thanks to external online sales partners: the trading volume on its marketplace has more than doubled in a year.

In the third quarter of its fiscal year, Ceconomy saw revenue increase by 6.6 percent to 4.92 billion euros, with comparable sales growing by 5.2 percent. The company reports “substantial market share gains” in a slightly growing market.

Ecommerce News, August 15, 2024

International and wholesale ecommerce drive Alibaba revenue in Q1

Alibaba’s sharpest growth in its fiscal Q1 came from its international group of retail ecommerce sites, including the global AliExpress, and its international B2B site Alibaba.com.

Global ecommerce marketplace company Alibaba Group had a tough spring quarter — its fiscal Q1 — in its primary China home market, but it still managed a modest revenue gain thanks to its international and wholesale operations.

Digital Commerce 360, Aug 19, 2024

Vinted adjusts policy on shipping options

Vinted has rolled back a proposed update on shipping options after protests from sellers in the United Kingdom. The recommerce marketplace wanted to offer consumers more choices in receiving products, but merchants struggled with this increased freedom.

Vinted had made it impossible for UK sellers to deselect certain shipping options when listing items. As a result, they were forced to work with various shipping companies.

Ecommerce News, August 12, 2024

Ikea is launching second-hand marketplace

Furniture retailer Ikea plans to launch a marketplace where customers can sell their pre-owned Ikea furniture to other consumers. By doing that, it wants to expand its online revenue. The company launched a pilot in Spain and Norway.

The Swedish retailer is well-known for its furniture. Within several countries in Europe, Ikea is the leader in the online furniture market. In an effort to strengthen its online presence, the company has now announced that it plans to open a second-hand online marketplace, called Ikea Preowned.

Ecommerce News, August 27, 2024