Tiktok's daily transaction volume is growing very slowly, far behind Temu; Amazon employees exposed that they work overtime without compensation; Trump's tariff proposal may cause a surge in the prices of imported goods in the United States
Latest update time：2024-11-11
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Important news
NEWS REMIND
1. In the first nine months of this year, Chinese TV manufacturers accounted for nearly half of Japan's TV market share
2. The report shows that 70% to 80% of consumers in emerging markets are willing to buy electric vehicles
3. The growth rate of European second-hand e-commerce platforms exceeds that of ordinary e-commerce by 50%
4. 35% of Russian consumers plan their autumn shopping in advance, and nearly half of them have a budget of 30,000-50,000 rubles
5. Meikeduo's sales on the first day of Argentina's Cyber Monday promotion in 2024 exceeded 1 million pieces, a year-on-year increase of 40%
6. Amazon Egypt announces the official launch of its 11.11 annual promotion
7. The list of the top 100 influential domestic cross-border e-commerce brands is released
Today's headlines
HEADLINE NEWS
Tiktok's daily transaction volume is growing very slowly, more than 10 times slower than Temu
Now many merchants are flocking to Tiktok's full hosting, and the gross profit has been declining. The profit is suppressed very low. If you don't do it, other merchants' products will be pushed up immediately, and you will have no volume. Merchants actually make hard-earned money. If they want long-term development and higher profits, they can only open POP cross-border stores and local stores. For the emerging platform Temu, Tiktok's daily transaction volume growth is indeed very slow, more than 10 times slower than Temu. (Jingxi)
Cross-border information
CROSS-BORDER NEWS
Many people go overseas to make quick money to pay off debts, and don’t care much about after-sales service and the impact on product reputation.
The Japanese and Chinese adopted different strategies when they entered the UAE market in the early days. The Japanese have a strong system thinking. They not only focus on the export volume of products, but also on the strength of after-sales service and brand management. For example, after a Japanese electronic product enters the market, they will consider how to provide after-sales service locally. Their level of industrialization has been more advanced than that of China from the beginning, and their craftsmanship is more sophisticated. The Chinese who entered the UAE in the early days were different. Many of them were out of adventurous spirit or to repay debts. Their main goal was to sell products as quickly as possible and make quick money to pay off debts, so they didn't care much about after-sales service, which to a certain extent affected the local reputation of the products. (Jingxi)
Amazon employees reveal that they work overtime without compensation during daylight saving time, and their TikTok post attracts widespread attention
Recently, an Amazon employee exposed the company's unfair treatment of night shift workers at the end of daylight saving time on TikTok, which attracted widespread attention. According to the employee, they and their colleagues left the company an hour early after learning that they had to work an extra hour without compensation due to the time change. The post has been viewed more than 4 million times, and many viewers expressed support and shared similar workplace grievances.
Some users pointed out that federal law requires that every hour worked be paid, and suggested that employees consider legal action if they are not paid for extra time. This incident highlights the inconsistency of large employers such as Amazon in handling workplace policies and compensation, especially when it comes to fair pay for night shift workers during daylight saving time adjustments. As the TikTok video continues to be popular, there is a growing demand for workplace fairness, transparency, and consistent treatment across all Amazon facilities (Yien.com)
A young man born after 1995 founded Chengtian International: annual revenue is nearly 700 million, and it will soon go public in the United States
On October 29, 2024, Transten Global Group, founded by a young man born after 1995, submitted an initial public offering (IPO) application to the US Securities and Exchange Commission (SEC), planning to raise no more than US$10 million and list on the Nasdaq with the stock code TTG. The latest financial report shows that as of June 30, 2024, its revenue in the first half of the year was 274.9 million yuan, and its annual revenue was nearly 700 million yuan.
Chengtian International was established on May 18, 2018 and is headquartered in Shenzhen. Its core businesses include cargo consolidation and transportation, logistics warehousing, terminal delivery, overseas e-commerce platform operations, and overseas brand planning and marketing. It is a logistics service provider for international e-commerce platforms such as Pinduoduo, TikTok, AliExpress, Temu, and Amazon. From 2018 to 2019, it developed rapidly, and the warehouse size expanded from the initial four bedrooms and one living room to 3,000 square meters. In 2023, new breakthroughs were made in overseas logistics services, optimizing the problem of last-mile delivery of overseas express delivery. At present, the express delivery business is divided into two major blocks, B2C and B2B, and its services cover 32 countries around the world. It has established local delivery networks in the United States, Canada and other places, and is committed to providing efficient and convenient logistics services to global customers. (Chuhai.com)
Trump's tariff proposal could lead to skyrocketing prices for U.S. imports
The National Retail Federation reported that Trump's tariff proposal will cause the prices of imported products to soar. It is reported that Trump plans to impose a 10% or 20% tariff on all imported products and an additional 60% to 100% tariff on Chinese products. If Mexico does not close the border, a 25% to 100% tariff will be imposed on Mexican goods. These tariffs will make it difficult for retailers to bear and may pass the costs on to consumers.
For example, toy prices will rise by 36.3% to 55.8%, resulting in significant price increases for items such as tricycles, board games and plush toys. The cost per household will increase by up to $7,600 per year, hitting low-income consumers particularly hard. Although some American manufacturers may benefit from protectionist policies, overall, the policy will have a net negative impact on the United States, likely leading to rising inflation, higher interest rates, and pressure on the housing market and related retailers. Trump's tariff policy may also pose challenges to retailers such as dollar stores that rely on Chinese imports. (Yien.com)
The top 100 influential Chinese cross-border e-commerce brands in the third quarter of 2024 are released
Recently, the "Top 100 Chinese Cross-border E-commerce Brand Influence List in the Third Quarter of 2024" jointly released by the National Business Daily and Shenzhen Yishi Technology was officially announced. The list focuses on native cross-border e-commerce brands, with search popularity from July 1 to September 30, 2024 as the main ranking basis, and comprehensively refers to the natural traffic of independent sites and Amazon search volume. In the list, many brands have outstanding performance in their respective fields. Shein has a significant advantage in the clothing category, with a search popularity of 197759.49, an independent site natural traffic of 144488.67, and an Amazon search volume of 90598.20; Anker has made remarkable achievements in the digital field, with a search popularity of 16599.77, an independent site natural traffic of 5542.05, and an Amazon search volume of 1056719.83; Roborock's search popularity in the home appliance category is 6441.47, etc. These brands cover multiple categories including clothing, digital products, home appliances, beauty and personal care products, and are widely distributed in cities including Guangzhou, Shenzhen, Beijing, Shanghai, etc. (Chuhai.com)
Report shows: 70% to 80% of consumers in emerging markets are willing to buy electric vehicles
PwC released the "2024 Automotive Electrification Report" at the 7th CIIE, pointing out that consumers in emerging countries and regions such as China and India are increasingly interested in electric vehicles. The report surveyed more than 17,000 respondents from 27 countries and regions, and deeply analyzed the global consumer acceptance of electric vehicles. The survey results show that more than 60% of consumers surveyed worldwide plan to buy electric vehicles in the next five years, but there are significant differences between different regions.
Especially in emerging markets such as China and India, consumers are particularly interested in electric vehicles, with potential customers accounting for 70% to 80%; in contrast, in conservative markets such as Japan, the potential customer ratio is only 20%. In Europe, Nordic countries are in the lead in electrification development, with the highest electric vehicle ownership rate, while Southern and Central European consumers are more interested than Eastern European consumers. The American market shows a trend of differentiation, with Latin America being very supportive of electric vehicles and sustainable transportation, while American consumers are relatively conservative. (Chuhai.com)
In the first nine months of this year, Chinese TV manufacturers accounted for nearly half of Japan's TV market share
According to Japanese media reports, from January to September 2024, Chinese TV manufacturers accounted for 49.9% of the Japanese market, showing strong growth momentum. Among them, the Hisense brand ranked first with a market share of 40.4%, surpassing Japanese local brands Sony (9.7%), Panasonic (9.0%) and Chinese counterparts TCL (9.5%). In particular, since July, the monthly market share of Chinese TV manufacturers has continued to remain above 50%. This change is due to the cost-effective product strategy of Chinese TV companies. Against the backdrop of the emergence of OLED panels, intensified competition in large screens, and changes in consumer viewing habits, Chinese manufacturers have met the needs of Japanese consumers by balancing performance and price. At the same time, the average selling price of flat-panel TVs in the Japanese market continued to decline, falling by 40% in the first half of 2024 compared with the same period in 2020. (Yien.com)
The growth rate of European second-hand e-commerce platforms exceeds that of ordinary e-commerce by 50%
The latest European sustainable market rankings reveal that e-commerce platforms that sell second-hand goods are growing 50% faster than ordinary platforms. According to the fourth report on sustainable markets released by CBCommerce, second-hand sales or "re-commerce" is accelerating in Europe, and it is expected that by 2025, second-hand sales will account for 12.6% of total online sales in Europe, more than double the amount in 2020. E-commerce platforms account for as much as 72.3% of "re-commerce" transactions. Major platforms such as Vinted, TheRealReal, MPB and BackMarket have performed well in this field and continue to expand every year. (Chuhai.com)
Vietnam becomes the third largest e-commerce market in Southeast Asia
According to the latest annual report "Southeast Asia's e-economy 2024" released by Google, Temasek and Bain & Company, Vietnam's e-commerce market has now reached US$22 billion, ranking third in Southeast Asia, second only to Indonesia (US$65 billion) and Thailand (US$26 billion). It is expected that by 2030, Vietnam's e-commerce market will grow at an average annual rate of 19%, and the total size is expected to reach US$63 billion, surpassing Thailand and becoming the second largest e-commerce market in Southeast Asia. Currently, e-commerce accounts for 60% of Vietnam's digital economy, and the rest mainly comes from services such as ride-hailing, delivery and online media. (Yien.com)
35% of Russian consumers plan autumn shopping in advance, and nearly half of them have a budget of 30,000-50,000 rubles
According to a survey by YandexMarket, more than a third of Russian consumers (35%) plan their shopping ahead of the autumn sales season to save money. The survey covered 1,239 respondents aged 18 and above in 17 regions of Russia. The survey showed that 77% of respondents often pay attention to discounts and promotions, and 32% make purchases based on discounts. Nearly half of the respondents (49%) plan to spend 30,000 to 50,000 rubles on shopping during the big sale, and 27% of the respondents have set aside a budget of 20,000 rubles.
Despite planning, 86% of consumers admitted to making unplanned purchases during promotions. During the "11.11" and "Black Friday" promotions, clothing (40%), electronics (30%) and household goods (20%) were the most frequently ordered items. YandexMarket data shows that the discounts on the five most popular categories of goods during the last "11.11" promotion season were as high as 80%. Most consumers (65%) prefer to choose online or a combination of online and offline shopping. (Chuhai.com)
Meikeduo's sales on the first day of Argentina's Cyber Monday promotion exceeded 1 million units, a year-on-year increase of 40%
According to foreign media reports, the Latin American e-commerce platform Meikeduo sold more than 1 million products on the first day of the 2024 Argentina Cyber Monday promotion, a 40% increase compared to 2023. Cyber Monday is hosted by the Argentine Chamber of Electronic Commerce (CACE) and is the country's largest annual online shopping discount event. The event was officially launched on November 4, attracting more than 1,000 companies to participate, covering 11 major product categories. Meikeduo performed well in this promotion. Within 24 hours of the start of the event, its platform sessions exceeded 24 million times, showing a significant increase in consumer engagement. The peak period occurred at 1 pm, when the platform visits reached the highest level. In addition, more than 59% of transactions were completed through interest-free installments, showing that installment payments are widely popular among Argentine consumers. (Chuhai.com)
Amazon Egypt announces the launch of its annual 11.11 promotion
Recently, Amazon Egypt (Amazon.eg) announced the official launch of its 11.11 annual promotion. The event will be held from November 7 to 12, providing consumers with tens of thousands of discounted products covering more than 30 categories of products, including electronics, fashion, beauty, home and kitchen appliances. During the 11.11 promotion, Amazon.eg users can enjoy discounts of up to 70% on fashion items, 60% on electronics and personal care appliances, up to 50% on daily necessities, and up to 25% on food items. Amazon also launched a variety of flexible payment options, including instant bank offers and installment plans, making it easier for consumers to enjoy the benefits of this big promotion. Prime members will also enjoy more additional benefits during the promotion, including a 10% discount, up to 1,000 Egyptian pounds. (Chuhai.com)
Brazil's streaming market is booming: CTV users surge, advertising is effective
During the Covid-19 pandemic, streaming platforms have risen rapidly to meet family entertainment needs. To attract users, the platform launched a free or low-cost subscription model with ads, which is popular with 45% of Brazilian CTV users. Moreover, 50% of Brazil's digital population are CTV viewers, 12% of households own 4 connected devices, and smart TVs have become mainstream. According to statistics, from January to September 2024, searches for smart TVs increased by more than 200%. 71% of CTV viewers choose to watch a series or movie at one time, and the average household has 8.2 streaming subscriptions, of which 3.5 are free and 4.7 are paid. Families with children have more paid subscriptions on average. It is reported that CTV ads are less disruptive, 62% of viewers remember ads before the show starts, and 36% discover new products through ads. (Yien.com)
Young consumers are gradually adapting to new forms of advertising
The "Youth Survey" jointly conducted by Mediahuis, MediaTest and Wayne Parker Kent reveals young people's views on current topics and media usage habits. The survey shows that young people use their mobile phones for an average of 5 hours a day, including 5.4 hours in the 15-21 age group, and women's screen usage time is higher than men in this group. In terms of advertising attitudes, young people have different views on new and old advertising forms, but they are less resistant to traditional advertising such as newspapers, magazines and outdoor advertising. Three-quarters of young people like cinema advertising, and more than half appreciate podcasts and radio advertising.
Compared with the last survey, young people's negative views on traditional advertising have decreased, and their attitudes towards social media sponsored ads are slightly positive. However, different segments have different attitudes towards non-traditional advertising, such as the negative views of 15-21-year-old men on social media ads have increased. Overall, young people are gradually adapting to new forms of advertising. (Yien.com)
Wildberries "Virtual Photography Studio" is now available
Wildberries has launched the "Virtual Photography Studio", a generative neural network-based service that brings a new experience to sellers with a "Джем" subscription. In this service, sellers can easily create AI model photos of clothing, covering 133 categories of men's and women's clothing. It only takes a few minutes to generate a photo, and sellers can close the tab during the generation process and view it later. Each seller has up to 10 photo generation opportunities per month.
The photography studio is equipped with 20 virtual avatars of different types and body shapes. The AI algorithm can not only automatically select the model's pose and generate the background, but also generate realistic images based on the clothing material, cut, color and other features. In the future, as the neural network continues to learn, the virtual portrait library will continue to expand, providing sellers with more diverse choices and helping their clothing sales business. (Chuhai.com)
Transsion's internal plan revealed, intends to seize the 4G feature phone market
There is a feature phone manufacturer in Shenzhen called Waterward. It made a 4G feature phone for India and produced 30 million units. The cost of this phone is close to $10. The business model in India is $9, and then you pay $1 in installments every month, and the installments will be completed after one year. The operator's signing price for Waterward ODM is about $13, so it is still profitable. Transsion plans to seize this market and the white-label market next year.
(Jingxi)
It’s okay to do business on Amazon this year, but it’s not okay to do business on an independent website
Those who do well on Tiktok and Temu are basically Amazon or traditional players. More than 90% are traditional players. Only those who do trade, Amazon, have multi-channel capabilities, and have the ability to stock inventory can play well. The core of cross-border expansion is that the product must be strong. If the product is not good, the challenge will be great. Crowdfunding cannot be done in China. ECOFLOW chose the United States and Japan because of crowdfunding, which can first recover funds and determine demand, and the R&D cost is high. Amazon's market in Europe is not that big, accounting for half of the United States. There are 1 billion people in Europe and only 300 million in the United States. The consumption power of Europe is also good, and Amazon has not completely taken it over.
(Jingxi)
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