November E-Commerce Digest: Platform Launches, Festive Sales, and Industry Innovations

Welcome to Membrace’s November E-Commerce Digest, where we share the latest happenings shaping the digital retail landscape. Last month, the e-commerce world saw a flurry of activity, from marketplace launches to record-breaking sales. Let's dive into three areas of updates that caught our eye!

1. Platform Launches and Performance:

• MyTradeZone.com's B2B Networking Launch: Bachir Kassir introduces MyTradeZone, connecting over 50,000 B2B companies in a social and trade network.
• Shopify's Q3 Triumph: Shopify Inc. reports a 25% revenue growth to $1.7 billion and a 22% increase in gross merchandise volume (GMV) to $55 billion.
• Michaels MakerPlace Emerges: Michaels enters the online marketplace scene, launching MakerPlace as a competitor to platforms like Etsy Inc.
• Record-Breaking Second-hand Business: Second-hand shopping becomes a billion-dollar business for Amazon in Europe, driven by consumer demand for refurbished and pre-owned goods.

2. Global Market Dominance and Festive Sales:

• Temu Surpasses Shein: Temu outshines Shein in Japan and South Korea, holding the top spot in shopping app rankings.
• Xiaomi's Singles Day Record: Xiaomi achieves a record $3.11 billion in Singles Day sales across various platforms.
• Amazon's Global Upgrades: Amazon enhances Buy with Prime features, introduces order tracking, 24/7 live chats, and expands drop-off sites for returns.
• Black Friday and Cyber Monday Records: U.S. online sales hit $9.8 billion on Black Friday and a staggering $12.4 billion on Cyber Monday.

3. Industry Strategies and Innovations:

• Etaily's Southeast Asia Expansion: Etaily secures $17.8 million in Series A funding, positioning as a 'one-stop solution' for consumer brands entering Southeast Asia.
• Shanghai's 'Silk Road E-commerce' Pilot Zone: Shanghai introduces a strategic initiative for trade connectivity and digital trade promotion.
• Amazon Ventures into Auto Sales: Amazon announces plans for auto dealers to sell cars on its platform, starting with Hyundai in 2024.
• Mercado Libre's AI Against Fraud: Mercado Libre employs AI to detect fraudulent advertisements, reinforcing its commitment to a secure online marketplace.
• Temu's European Delivery Network Expansion: Temu expands its European delivery network through partnerships, aiming to enhance logistics and customer satisfaction.