WORLDEF Weekly E-Commerce Newsletter | February 16, 2025
E-Commerce Bulletin | WORLDEF
Prominent news and sectoral developments in the global e-commerce ecosystem...
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| E-COMMERCE NEWS FROM THE WORLD
The European Parliament has approved a revision of Value Added Tax (VAT) regulations, under which online platforms will be held responsible for VAT payments if their sales partners fail to comply. The reform is aimed at combating unfair competition and addressing VAT fraud. Policymakers in Brussels anticipate that businesses will save billions of euros in costs due to this overhaul.
According to GlobalData’s E-commerce Report for 2025, the global e-commerce ecosystem is experiencing sustainable growth, partly due to the influence of these industry giants. As the sector matures, e-commerce behemoths Amazon and Alibaba are expected to focus even more on gaining market share in developing digital economies.
The e-commerce sector in the MENA region experienced a significant 30% growth in 2024, increasing its market value considerably. In the $50 billion ecosystem, the United Arab Emirates (UAE) and Saudi Arabia led the way in this growth. According to a joint report by Flowwow and Admitad, e-commerce in the UAE grew by 7%, while in Saudi Arabia, the sector saw a 9% increase. A marked rise in online orders was observed in these countries, further solidifying their leading position in the sector.
Online shopping platform Temu is altering its supply chain strategy in response to new tariffs imposed by the Trump administration. The company plans to shift a significant portion of its supply chain away from China due to the new tariffs introduced by former U.S. President Donald Trump. This move could result in an increase in prices for the budget-friendly shopping app.
Chinese e-commerce platform Temu is preparing to enter the South Korean market directly, with plans to develop an integrated logistics system for product deliveries in the country. According to a report by the South Korean news agency Yonhap, Temu, the e-commerce brand owned by PDD Holdings Inc., has begun hiring employees for key roles in human resources, management, public relations, marketing, and logistics in South Korea.
Dutch online marketplace Bol.com had a highly successful year in 2024, setting a new record with €5.9 billion in net consumer online sales. The e-commerce platform’s revenue surged by 8.7%, reaching €3.1 billion. Notably, Bol generated more revenue from its direct sales than the combined total of all third-party sellers on its platform. This data suggests that Bol is shifting back to being an online store rather than primarily a marketplace.
E-commerce giant Amazon recorded growth in Germany and the United Kingdom in 2024, surpassing the overall market growth rate. The company reported revenues of €39.6 billion in Germany and €36.7 billion in the UK. Despite competition from Chinese rivals, the American e-commerce powerhouse continues to hold its dominant market position.
Global e-commerce giant Amazon has launched a pilot of its “Amazon Now” service in Bengaluru as competition intensifies in the quick commerce sector. The quick commerce service, Amazon Now, arrives at a time when the expansion of these platforms is gaining popularity, especially among urban consumers.
Shopify, the Canadian e-commerce giant, is gaining momentum as merchants increasingly adopt its AI-driven tools for e-commerce automation and efficiency.
JD.com, one of China’s leading e-commerce platforms, has announced its entry into the meal delivery sector. The company is inviting catering businesses to join its new platform, JD Takeaway. As part of the initiative, businesses that register by May 1 will receive commission-free service until the end of 2025.
Ageras, a provider of accounting, banking and business software solutions, has acquired fellow Danish fintech Storebuddy for an undisclosed sum. Founded in 2013 and headquartered in Copenhagen, Storebuddy offers a Software-as-a-Service (SaaS) solution designed to help digital merchants automate online payments, order reconciliation, payouts, and accounting processes, while also providing a “one-stop-shop” for VAT reporting.
Asia airfreight volumes to the US could partially shift to Europe as a result of changing e-commerce supply chains. There will be a “significant volume decrease” on the China-US airfreight lane if the US de minimis exemption removal plans are enforced - the plans are temporarily suspended - and Europe is well positioned to absorb these volumes, said Milena Milenkovic, regional airfreight manager, Benelux, Flexport.
E-commerce enablement platform Unicommerce is eyeing new growth areas, including customer loyalty programmes and ad-tech solutions, as online orders continue to rise, particularly through quick commerce.
Taager, the leading social e-commerce platform for the MENA region has announced a close of a $6.75m Pre-Series B funding round, led by Africa-focused tech growth fund Norrsken22. According to a statement by the company, the funding round will enable the company to fuel its growth in the Middle East region.
Amazon debuts in physical commerce in Italy with the opening of Amazon Parafarmacia & Beauty in Milan. An innovative store dedicated to personal care, with cutting-edge technology and a selection of exclusive brands. Amazon has decided to get out of the screens to enter the real life of its customers with its first physical store in Italy. On February 12th, in Piazzale Cadorna in Milan, opened Amazon Parapharmacy & Beauty, a store dedicated to personal care products and over-the-counter drugs. A step that may seem unusual for the e-commerce giant, but which in reality follows a very specific strategy.
A report by the e-commerce analytic platform Metric has shown that the total revenue of the five largest e-commerce platforms in Vi?t Nam reached VN?318.9 trillion (US$12.6 billion) in 2024, 37.4 per cent higher than 2023. The 'Overview Report of the Online Retail Market in 2024 and Forecast for 2025' focuses on the five platforms: Shopee, Lazada, TikTok Shop, Tiki and Sendo.
As the battle for eCommerce dominance intensifies, Walmart is making strides in expanding its online presence. The retail giant has elevated its digital sales and profits, cementing eCommerce as a core element of its strategy. But despite these gains, Walmart still faces a daunting challenge: it remains a distant second to Amazon, whose overwhelming online sales continue to set the standard.
WORLDEF Weekly E-Commerce Newsletter | February 16, 2025
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