🤖 TikTok Parent ByteDance Now Has China’s Most Popular AI Chatbot
ByteDance Ltd. has overtaken Baidu Inc. in the race to deliver China’s answer to ChatGPT — at least in terms of popularity.
📌 Doubao, the artificial intelligence-powered chatbot released in August, surpassed Baidu’s Ernie Bot in downloads last year and now has more regular monthly users on iOS in China, according to Sensor Tower data. Ernie got off to the fastest start in the country, but ByteDance has now taken the lead and other rivals are approaching.
ByteDance Ltd. has overtaken Baidu Inc. in the race to deliver China’s answer to ChatGPT — at least in terms of popularity.
📌 Doubao, the artificial intelligence-powered chatbot released in August, surpassed Baidu’s Ernie Bot in downloads last year and now has more regular monthly users on iOS in China, according to Sensor Tower data. Ernie got off to the fastest start in the country, but ByteDance has now taken the lead and other rivals are approaching.
🇸🇦 Saudi Arabia Makes Ambitious Plans to Expand E-Commerce
Saudi Arabia is making expansive plans to become a major national, regional and international market for ecommerce. That’s in spite of access-to-market issues and other barriers to doing business.
📊 Saudi ecommerce topped $10 billion in revenue in 2023, making the country the world’s 28th largest online market. It’s also on par with its regional neighbor, the United Arab Emirates, says a new regional report from Agility Logistics.
Growth in online revenue in Saudi Arabia is forecasted to expand at 13.5% annually through 2027. That’s much faster than the global growth average of 11.2%. Meanwhile, ecommerce sales are expected to meet and exceed $30 billion by 2027 and $44 billion by 2030.
Saudi Arabia is making expansive plans to become a major national, regional and international market for ecommerce. That’s in spite of access-to-market issues and other barriers to doing business.
📊 Saudi ecommerce topped $10 billion in revenue in 2023, making the country the world’s 28th largest online market. It’s also on par with its regional neighbor, the United Arab Emirates, says a new regional report from Agility Logistics.
Growth in online revenue in Saudi Arabia is forecasted to expand at 13.5% annually through 2027. That’s much faster than the global growth average of 11.2%. Meanwhile, ecommerce sales are expected to meet and exceed $30 billion by 2027 and $44 billion by 2030.
👥 In Seoul summit, heads of states and companies commit to AI safety
Government officials and AI industry executives agreed on Tuesday to apply elementary safety measures in the fast-moving field and establish an international safety research network.
📌 Nearly six months after the inaugural global summit on AI safety at Bletchley Park in England, Britain and South Korea are hosting the AI safety summit this week in Seoul. The gathering underscores the new challenges and opportunities the world faces with the advent of AI technology.
Government officials and AI industry executives agreed on Tuesday to apply elementary safety measures in the fast-moving field and establish an international safety research network.
📌 Nearly six months after the inaugural global summit on AI safety at Bletchley Park in England, Britain and South Korea are hosting the AI safety summit this week in Seoul. The gathering underscores the new challenges and opportunities the world faces with the advent of AI technology.
💡 Amazon is Building a Network of Micromobility Hubs in the UK
To make deliveries to customers in the United Kingdom more sustainable, Amazon is increasingly using so-called micromobility hubs. Step by step, the company is revamping its delivery network. The first micromobility hub in Northern Ireland recently opened.
🧷 Micromobility hubs are essentially sorting centers in urban areas. Amazon is busy implementing a network of these hubs in major cities to reduce its reliance on traditional delivery vans and their associated carbon footprint.
To make deliveries to customers in the United Kingdom more sustainable, Amazon is increasingly using so-called micromobility hubs. Step by step, the company is revamping its delivery network. The first micromobility hub in Northern Ireland recently opened.
🧷 Micromobility hubs are essentially sorting centers in urban areas. Amazon is busy implementing a network of these hubs in major cities to reduce its reliance on traditional delivery vans and their associated carbon footprint.
📈 Temu Owner Pinduoduo Says Triples Net Profit in First Quarter
Chinese e-commerce giant Pinduoduo announced Wednesday its net profit for the first quarter more than tripled, as the Temu owner continues to boost its competitiveness in its home market and abroad.
🧷 Pinduoduo is one of China's leading online retailers -- owing largely to its success in reaching consumers in rural areas with a diverse offering of low-cost products.
The company's overseas platform, Temu, has surged since its September 2022 launch to become one of the most popular online shopping sites in the United States, propelled by a marketing strategy that featured multiple prime-time Super Bowl advertisements.
Chinese e-commerce giant Pinduoduo announced Wednesday its net profit for the first quarter more than tripled, as the Temu owner continues to boost its competitiveness in its home market and abroad.
🧷 Pinduoduo is one of China's leading online retailers -- owing largely to its success in reaching consumers in rural areas with a diverse offering of low-cost products.
The company's overseas platform, Temu, has surged since its September 2022 launch to become one of the most popular online shopping sites in the United States, propelled by a marketing strategy that featured multiple prime-time Super Bowl advertisements.
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📊 Alibaba Grows Revenue in Q4 as Net Income Nearly Halves
Alibaba Group Holding Limited announced that it grew revenue 7% year over year in its fiscal fourth quarter ended March 31, 2024, but income from operations decreased 3%. Meanwhile, net income decreased 96% compared to the prior Q4.
📌 For the full year, Alibaba revenue grew 8% over 2022 and operational income increased 13%. Net income increased 9%.
In a statement announcing quarterly earnings, Alibaba attributed the net income drop in the quarter to "a net loss from our investments in publicly-traded companies during the quarter, compared to a net gain in the same quarter last year."
Alibaba Group Holding Limited announced that it grew revenue 7% year over year in its fiscal fourth quarter ended March 31, 2024, but income from operations decreased 3%. Meanwhile, net income decreased 96% compared to the prior Q4.
📌 For the full year, Alibaba revenue grew 8% over 2022 and operational income increased 13%. Net income increased 9%.
In a statement announcing quarterly earnings, Alibaba attributed the net income drop in the quarter to "a net loss from our investments in publicly-traded companies during the quarter, compared to a net gain in the same quarter last year."
💡 Walmart’s 3D E-Commerce Platform Realm is The Retailer’s Latest Metaverse Bet
Launched on Wednesday, the new e-commerce platform from the world’s largest retailer lets people shop digital doubles of select products sold at real-life Walmart stores via virtual bazaars designed to look like outlandish, make-believe worlds. There’s "So Jelly," an underwater universe, "Y"allternative," a frontier where the Wild West meets Gothic aestheticism and “Go Chromatic,” a metallic environment seemingly set in the middle of outer space.
👨🏻💻 Currently, Walmart realm is a website that can be access on a desktop or mobile phone. To shop, users click on various objects in the virtual stores, click an "Add to cart" button, and then a checkout link that takes them to Walmart.com.
Launched on Wednesday, the new e-commerce platform from the world’s largest retailer lets people shop digital doubles of select products sold at real-life Walmart stores via virtual bazaars designed to look like outlandish, make-believe worlds. There’s "So Jelly," an underwater universe, "Y"allternative," a frontier where the Wild West meets Gothic aestheticism and “Go Chromatic,” a metallic environment seemingly set in the middle of outer space.
👨🏻💻 Currently, Walmart realm is a website that can be access on a desktop or mobile phone. To shop, users click on various objects in the virtual stores, click an "Add to cart" button, and then a checkout link that takes them to Walmart.com.
👥 SingPost and Qazpost Forge Strategic Partnership to Advance E-Commerce and Logistics
Singapore Post (SingPost), a leading postal and eCommerce logistics provider in Asia Pacific, and Qazpost, the national postal operator of the Republic of Kazakhstan, today announced a strategic cooperation agreement aimed at boosting eCommerce and logistics, and bolster development in both countries.
💬 "We are excited to partner with Qazpost to jointly explore opportunities for greater collaboration and enhance our postal and logistics sectors. Through our collaboration, we hope to enhance our eCommerce network and unlock new opportunities for both countries," said Li Yu, CEO, International, SingPost.
Singapore Post (SingPost), a leading postal and eCommerce logistics provider in Asia Pacific, and Qazpost, the national postal operator of the Republic of Kazakhstan, today announced a strategic cooperation agreement aimed at boosting eCommerce and logistics, and bolster development in both countries.
💬 "We are excited to partner with Qazpost to jointly explore opportunities for greater collaboration and enhance our postal and logistics sectors. Through our collaboration, we hope to enhance our eCommerce network and unlock new opportunities for both countries," said Li Yu, CEO, International, SingPost.
👥 96% of Europeans Shopped Online in Q1
At least 95.8 percent of European consumers shopped online in the first quarter of this year. In the United Kingdom, that percentage was 93 percent. And in the Netherlanders, 96 percent of consumers shopped online.
📊 These data come from the recently published Consumer Insight Report from AliExpress. The online marketplace surveyed over 8,500 consumers from France, Germany, Spain, the United Kingdom and the Netherlands. Consumers were surveyed about their online shopping habits in the first quarter of this year.
At least 95.8 percent of European consumers shopped online in the first quarter of this year. In the United Kingdom, that percentage was 93 percent. And in the Netherlanders, 96 percent of consumers shopped online.
📊 These data come from the recently published Consumer Insight Report from AliExpress. The online marketplace surveyed over 8,500 consumers from France, Germany, Spain, the United Kingdom and the Netherlands. Consumers were surveyed about their online shopping habits in the first quarter of this year.
🇵🇭 Philippines E-Commerce Payments to Surge by Nearly 20% in 2024
The Philippines e-commerce market is growing at a fast pace and is expected to surge by 19.6% in 2024, driven by growing consumer preference for online shopping and strong internet penetration, reports GlobalData, publishers of EPI.
🧷 GlobalData’s E-Commerce Analytics reveals that Philippine e-commerce market registered a compound annual growth rate (CAGR) of 28.6% between 2019 and 2023 to reach PHP1.1trn ($20.1bn) in 2023. The market is set to reach PHP1.3trn ($24.1 bn) in 2024.
The Philippines e-commerce market is growing at a fast pace and is expected to surge by 19.6% in 2024, driven by growing consumer preference for online shopping and strong internet penetration, reports GlobalData, publishers of EPI.
🧷 GlobalData’s E-Commerce Analytics reveals that Philippine e-commerce market registered a compound annual growth rate (CAGR) of 28.6% between 2019 and 2023 to reach PHP1.1trn ($20.1bn) in 2023. The market is set to reach PHP1.3trn ($24.1 bn) in 2024.
🇩🇪 One in Three Germans Shops on Temu
Marketplaces with origins in Asia have gained significant popularity in Germany over the past year. Recent research indicates that nine out of ten German consumers are familiar with these platforms, and 43 percent purchase items from them. Especially Temu is on the rise.
📌 This is reported by ECC KÖLN, a subsidiary of the renowned German IFH KÖLN (Institut für Handelsforschung), in its periodic Trend Check Handel.
The brand awareness of Asian marketplaces in Germany increased by 13 percentage points over the past year, from 78 to 91 percent. The usage of these shopping platforms grew from 32 percent to the mentioned 43 percent. Among younger consumers, the percentage is even higher: more than half (51 percent) of German consumers aged 18 to 29 shop on Asian marketplaces.
Marketplaces with origins in Asia have gained significant popularity in Germany over the past year. Recent research indicates that nine out of ten German consumers are familiar with these platforms, and 43 percent purchase items from them. Especially Temu is on the rise.
📌 This is reported by ECC KÖLN, a subsidiary of the renowned German IFH KÖLN (Institut für Handelsforschung), in its periodic Trend Check Handel.
The brand awareness of Asian marketplaces in Germany increased by 13 percentage points over the past year, from 78 to 91 percent. The usage of these shopping platforms grew from 32 percent to the mentioned 43 percent. Among younger consumers, the percentage is even higher: more than half (51 percent) of German consumers aged 18 to 29 shop on Asian marketplaces.
📝 Alibaba's E-Commerce Platform AliExpress Signs David Beckham as Brand Ambassador
AliExpress, an e-commerce unit owned by Chinese giant Alibaba, has announced that it has signed former England captain and soccer icon David Beckham as its global brand ambassador.
🧷 The move comes as AliExpress looks to rival the expanding global presence of PDD Holdings' Temu service and online fashion startup Shein and offset waning e-commerce sales in its domestic Chinese market.
Revenues at Alibaba's international division, which includes AliExpress, spiked by 45% year-on-year in the first three months of 2024 to 27.45 billion yuan, dwarfing peers like Tmall and Taobao who rely more on demand in China.
AliExpress, an e-commerce unit owned by Chinese giant Alibaba, has announced that it has signed former England captain and soccer icon David Beckham as its global brand ambassador.
🧷 The move comes as AliExpress looks to rival the expanding global presence of PDD Holdings' Temu service and online fashion startup Shein and offset waning e-commerce sales in its domestic Chinese market.
Revenues at Alibaba's international division, which includes AliExpress, spiked by 45% year-on-year in the first three months of 2024 to 27.45 billion yuan, dwarfing peers like Tmall and Taobao who rely more on demand in China.
📦 Amazon Rejigs Logistics Set-Up as Pressure Grows From US and Chinese Rivals
Amazon has been a relentless driver of change in the ecommerce arena, forcing competitors to try to catch up in a robust push for faster deliveries. But in a twist of the plot, losing ground to Walmart and low-cost Chinese players Temu and Shein, the behemoth has been forced to change strategy.
💡 In the past two years, Amazon rented out its unused warehouse capacity as the pace of ecommerce growth slowed, leveraging its network to accelerate the pace of deliveries. But today the company is gobbling up warehouse space with a voracious appetite, and this year it has taken on over 16 million sq ft of new warehouse space in North America, adding to its already massive 413 million sq ft footprint.
And speed is still a huge factor in the strategy; and Amazon plans to double its same-day fulfilment centers.
Amazon has been a relentless driver of change in the ecommerce arena, forcing competitors to try to catch up in a robust push for faster deliveries. But in a twist of the plot, losing ground to Walmart and low-cost Chinese players Temu and Shein, the behemoth has been forced to change strategy.
💡 In the past two years, Amazon rented out its unused warehouse capacity as the pace of ecommerce growth slowed, leveraging its network to accelerate the pace of deliveries. But today the company is gobbling up warehouse space with a voracious appetite, and this year it has taken on over 16 million sq ft of new warehouse space in North America, adding to its already massive 413 million sq ft footprint.
And speed is still a huge factor in the strategy; and Amazon plans to double its same-day fulfilment centers.
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📈 European Online Retailer Zalando Grows Q1 B2B E-Commerce 13%
In March, Zalando, one of Germany’s biggest online retailers, announced plans to jumpstart its flat business by branching out into B2B.
🧷 The company’s recently launched Zeos business enables Zalando to "shape the European fashion and lifestyle industry beyond its own consumer business," according to an announcement from Zalando. "It makes the company a key enabler for e-commerce transactions beyond Zalando, for example via the About You, ASOS or Otto marketplaces."
Over the past 15 years, Zalando has built an operational logistics and technology backbone tailored to the needs of the fashion and lifestyle industry, the company says. Today, the ecommerce and logistics platforms are part of Zeos.
In March, Zalando, one of Germany’s biggest online retailers, announced plans to jumpstart its flat business by branching out into B2B.
🧷 The company’s recently launched Zeos business enables Zalando to "shape the European fashion and lifestyle industry beyond its own consumer business," according to an announcement from Zalando. "It makes the company a key enabler for e-commerce transactions beyond Zalando, for example via the About You, ASOS or Otto marketplaces."
Over the past 15 years, Zalando has built an operational logistics and technology backbone tailored to the needs of the fashion and lifestyle industry, the company says. Today, the ecommerce and logistics platforms are part of Zeos.
🇩🇪 German Government Backs Ending Customs Exemption
Germany’s Ministry of Finance has expressed support for the abolition of the current customs exemption that benefits Asian marketplaces. AliExpress, Shein, Temu, and other platforms currently enjoy a tax exemption on import packages valued up to 150 euros.
📌 Last year alone, according to official figures, two billion parcels with a value of less than 150 euros reached the EU from other countries. Many of these packages were ordered from Asian marketplaces, which have seen significant growth in Germany and other European countries.
Germany’s Ministry of Finance has expressed support for the abolition of the current customs exemption that benefits Asian marketplaces. AliExpress, Shein, Temu, and other platforms currently enjoy a tax exemption on import packages valued up to 150 euros.
📌 Last year alone, according to official figures, two billion parcels with a value of less than 150 euros reached the EU from other countries. Many of these packages were ordered from Asian marketplaces, which have seen significant growth in Germany and other European countries.
🇳🇬 Nigeria’s E-Commerce Industry Estimated to Hit $14.92bn by 2029
Nigeria’s e-commerce industry has been forecast to grow at a compound annual growth rate (CAGR) of 11.82% to $14.92bn in 2029.
🧷 The industry has been experiencing a boom in recent years, driven by factors like increasing internet penetration, smartphone adoption, and a growing young population.
Edenlife, the food retail business of Nigerian home concierge startup, gave this forecast as it marks a significant step towards national expansion with the launch of its first outlet store in Oniru, Lagos State.
Nigeria’s e-commerce industry has been forecast to grow at a compound annual growth rate (CAGR) of 11.82% to $14.92bn in 2029.
🧷 The industry has been experiencing a boom in recent years, driven by factors like increasing internet penetration, smartphone adoption, and a growing young population.
Edenlife, the food retail business of Nigerian home concierge startup, gave this forecast as it marks a significant step towards national expansion with the launch of its first outlet store in Oniru, Lagos State.
💳 PayPal Is Planning an Ad Business Using Data on Its Millions of Shoppers
PayPal hopes to boost its growth by starting an ad network juiced with something it already owns: data on its millions of users.
📊 The digital payments company plans to build an ad sales business around the reams of data it generates from tracking the purchases as well as the broader spending behaviors of millions of consumers who use its services, which include the more socially-enabled Venmo app.
PayPal has hired Mark Grether, who formerly led Uber’s advertising business, to lead the effort as senior vice president and general manager of its newly-created PayPal Ads division. In his new role, he will be responsible for developing new ad formats, overseeing sales and hiring staff to fill out the division, he said.
PayPal hopes to boost its growth by starting an ad network juiced with something it already owns: data on its millions of users.
📊 The digital payments company plans to build an ad sales business around the reams of data it generates from tracking the purchases as well as the broader spending behaviors of millions of consumers who use its services, which include the more socially-enabled Venmo app.
PayPal has hired Mark Grether, who formerly led Uber’s advertising business, to lead the effort as senior vice president and general manager of its newly-created PayPal Ads division. In his new role, he will be responsible for developing new ad formats, overseeing sales and hiring staff to fill out the division, he said.
💡 Alibaba and Temu Threaten Coupang's E-Commerce Crown in South Korea
Leading South Korean e-retailer Coupang is investing aggressively in response to cutthroat competition both from domestic and new Chinese rivals, even as the mounting costs drive the company into the red.
📌 Coupang's revenue jumped 23% on the year to $7.1 billion for the January-March quarter. Yet the company booked a net loss of $24 million, its first in seven quarters, compared with a $91 million profit a year earlier.
"Commerce in general has been a very competitive market," founder and CEO Kim Bom-suk said in an earnings call in early May.
Leading South Korean e-retailer Coupang is investing aggressively in response to cutthroat competition both from domestic and new Chinese rivals, even as the mounting costs drive the company into the red.
📌 Coupang's revenue jumped 23% on the year to $7.1 billion for the January-March quarter. Yet the company booked a net loss of $24 million, its first in seven quarters, compared with a $91 million profit a year earlier.
"Commerce in general has been a very competitive market," founder and CEO Kim Bom-suk said in an earnings call in early May.