GLOBAL E-COMMERCE NEWSLETTER: ISSUE 10

1. Vietnam’s Prime Minister Requests Amazon's Assistance in Global Supply Chain Integration for Vietnamese Products

During a meeting with Ms. Susan Pointer, Vice President of International Public Policy at 亚马逊 Group (USA), on October 26th, Prime Minister Pham Minh Chinh emphasized the significance of the global digital transformation trend, stressing that Vietnam is actively embracing this shift. Recognizing 亚马逊 's extensive global presence and expertise, the Prime Minister requested 亚马逊 's collaboration on several fronts. These include knowledge sharing on e-commerce and cross-border trade, support in training skilled professionals in e-commerce and cloud computing, exchange of insights on business and system administration, and cooperation in the development of logistics infrastructure and system optimization for Vietnam (thanhnien.vn, 2023).

2. U.S. Court Cases Between Low-Cost E-commerce Rivals Shein and Temu on Hold

Fashion e-commerce rivals SHEIN and Temu have decided to halt their legal disputes in the United States, although the reasons for this truce remain undisclosed. SHEIN had accused Temu of encouraging social media influencers to make negative comments about SHEIN and misleading customers into downloading the Temu app. In response, Temu filed a lawsuit alleging SHEIN 's violation of U.S. antitrust law by pressuring manufacturers not to do business with Temu . Both companies, known for their low-cost, ultra-fast fashion, have denied any wrongdoing in these cases (Hall, 2023).?

3.Amazon's Q3 Revenue Surpasses Expectations, Anticipates Strong Q4 Sales

In a recent report, e-commerce giant 亚马逊 has posted impressive results for the third quarter of this year, reporting revenue of $143.1 billion. This figure has exceeded the earlier expert predictions of $141.4 billion, reflecting 亚马逊 's robust performance.?

As the holiday season approaches in Q4-2023, the platform anticipates even more substantial growth, with revenue projections ranging from $160 billion to $167 billion. Industry analysts believe that 亚马逊 is well-positioned to hit approximately $166.6 billion in revenue for Q4, aligning closely with the midpoint of the company's own expectations (Palmer, 2023).

4. TikTok Seeks E-Commerce Licenses in Indonesia Amidst Regulatory Shifts?

TikTok used to handle the delivery of approximately 3 million packages daily in Indonesia until government regulations forced them to stop. In response to market difficulties, TikTok intends to seek an e-commerce license and is actively investigating the most suitable approach. They are? in discussions with local e-commerce partners, such as GoTo's Tokopedia, while concurrently developing a dedicated TikTok Shop app specifically designed for the Indonesian market (Widianto, Potkin and Widianto, 2023).

5. Over 130,000 Newly Established Enterprises in Vietnam for the First 3 Quarters of 2023

Vietnam has experienced a significant surge in new business registrations during the first ten months of 2023, with over 130,000 new enterprises joining the market. These businesses have collectively registered a total capital of nearly 1,212.6 trillion VND, employing almost 880,000 individuals.

Comparing this data to the same period in 2022, there is a 4.7% increase in the number of newly established businesses, although the registered capital has seen a decrease of 12.1%. Conversely, the number of employees has risen by 5.4%. The average registered capital per newly established business in the first ten months of 2023 stands at 9.2 billion VND, marking a 16.1% reduction compared to the same period in 2022 (Vy -, 2023).