Global E-com news. December 2024
Yury Shishkin
CEO & Founder of 24TTL | Stanford SEP | Enhancing online retail through technology and AI
Hello, friends! Here is another digest from my weekly newsletter, featuring updates and innovations in global E-commerce.
Read on to discover the freshest and most exciting trends in online sales.
?? Black Friday Spending Approaches $11 Billion Fueled by eCommerce
Black Friday shoppers spent a record $10.8 billion this year, primarily via online purchases. A report Monday (Dec. 2) from NPR — citing data from Adobe Analytics — notes that this figure is 10% higher than last year’s total, and double the amount of spending from 2017. Between 10 a.m. and 2 p.m. Friday, online shoppers spent $11.3 million per minute, Adobe said.
?? Cyber Monday Hits Record $13.3 Billion in Online Spending with Majority of Sales Driven by Mobile
Adobe released online shopping data for the 2024 holiday season covering Cyber Week, the five-day shopping period from Thanksgiving through Black Friday and Cyber Monday.
?? UAE e-commerce market tipped to reach $25bn by 2029
E-commerce is booming in the UAE and will pass $11bn in sales this year. The thriving market will see growth across the region and a UAE free zone is looking to support businesses and retailers in the sector.
?? Alibaba rolls out another AI tool for marketplace sellers
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Pic Copilot offers 12 AI tools that simplify tasks such as swapping image backgrounds, enhancing photos and videos, enabling virtual try-ons, and generating ad visuals. Alibaba Group continues to introduce new AI tools designed to support U.S. small business sellers on its global marketplace platform.
?? Why digital B2B buyers are frustrated — and what sellers must do to fix it
A significant 87% of Millennial and Generation Z buyers (born in 1981 or later) report dissatisfaction in at least one area, compared to 73% of older buyers (Generation X and Baby Boomers, born before 1981). Digital B2B buyers are a demanding audience with elevated expectations and little tolerance for underwhelming digital sellers.
?? TikTok Shop sales reached 100 million dollars during Black Friday
Black Friday saw more than 30,000 live streams, with home goods, fashion, and beauty products positioning themselves as consumers' favorite categories. One prominent example was Canvas Beauty, a hair care brand that reached $1 million in sales just two hours after going live on TikTok Shop.
?? Why Amazon sellers and retailers are flocking to TikTok Shop despite looming U.S. ban
Amazon sellers are being persuaded to try out TikTok Shop with promises of low fees and steep discounts on products footed by the company, which has also hired talent away from Amazon.
Have a good week ahead!
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