1. SHEIN Secretly Files Documents in the U.S., Possibly Going Public in 2024
On November 29th, online fast fashion company SHEIN has secretly filed for an IPO in the United States. This could potentially be one of the largest initial public offerings (IPOs) in recent years. According to sources, Goldman Sachs, JPMorgan, and Morgan Stanley have been hired as the lead underwriters for this offering, and SHEIN may go public in 2024. SHEIN was valued at approximately $66 billion in a funding round in May, and it may seek an even higher valuation in the IPO.
Source: First Financial
2. Temu's Traffic Continues to Rise in Multiple European Countries but Conversion Rates Trail Behind Giants like Amazon
On November 29th, according to the latest data from Google search and GWSMagnify, Temu's traffic continues to rise in several European countries, including Greece, the UK, and Poland. However, despite the rapid increase in traffic, conversion rates still lag far behind giants like Amazon.
Data shows that Temu's search volume in Greece began to significantly increase from mid-July this year and surpassed Amazon in September. However, over 90% of Temu's traffic is only browsing and does not result in actual conversions. In the UK, Amazon has 10 million more monthly active users than Temu, with Temu having 15.2 million monthly active users and Amazon having 25.2 million.
On a global scale, Amazon has over 268 million unique visitors, while Temu has only 42 million. Furthermore, Amazon's conversion rate is as high as 56%, while Temu's is only 4.5%, a difference of over 10 times.
Source: AMZ123
3. Amazon Surpasses FedEx and UPS to Become the Largest Courier Company in the United States
On November 29th, according to insiders at Amazon and internal documents, the number of packages delivered by Amazon to U.S. households in 2022 has surpassed that of United Parcel Service (UPS), with further widening of this gap expected this year. Previously, Amazon's package delivery volume surpassed FedEx in 2020. Amazon has become the largest courier company in the United States.
Internal documents show that as of Thanksgiving this year, Amazon has delivered over 4.8 billion packages in the United States, and its internal forecast predicts that the number of deliveries will reach approximately 5.9 billion by the end of this year. UPS previously stated that its domestic delivery volume for this year is unlikely to exceed last year's 5.3 billion. As of May 31, 2023, FedEx's domestic Express and Ground delivery package volume was approximately 3.05 billion.
Source: Cai Liang Society
4. TikTok U.S. to Open Cross-Border Shipping in December? False Information!
On November 29th, some industry insiders in the cross-border e-commerce sector claimed that "TikTok U.S. will open cross-border shipping in December," allowing merchants to ship via the TikTok Shop platform, including Fulfilled By TikTok (FBT) mode and platform doorstep pickup mode.
After multiple confirmations, it was found that this information was false. Currently, TikTok Shop in the U.S. only supports local shipping from overseas warehouses, and the platform strictly cracks down on virtual overseas warehouse shipping.
Source: Seller's Home
5. AliExpress Elected as the Best E-commerce Platform in Spain
On November 29th, the authoritative Spanish portal ADSLZone announced that AliExpress has been elected as the "Best E-commerce Platform in Spain," surpassing well-known e-commerce platforms such as Amazon, Media Market, and PcComponentes. This also signifies the continued rise in AliExpress's position in the European market.
Source: China Foreign Trade Magazine
6. Starting December, Shopee and Lazada Indonesia Sites to Increase Management Fees
On November 29th, Shopee announced on its official website that it would raise seller management fees effective December 1st. This adjustment applies to both Star/Star+ and non-Star category sellers.
Lazada Indonesia will increase seller commission rates starting December 18th, with fees being charged based on the order date rather than the date of order dispatch. The new commission rates are as follows: Class A increased to 6%; Class B increased to 5%; Class C increased to 5%; Class D increased to 3.5%; and Class E increased to 3.5%. Additionally, Lazada will discontinue the "Super Seller" and "Daily Cashback" programs.
Source: DNY123
7. Cathay Pacific Plans to Order 6 Airbus Cargo Aircraft
On November 29th, Cathay Pacific expressed its intention to order 6 Airbus A350 freighters to replace its existing aging Boeing 747 freighters. If confirmed, this choice would signal a rebound for Airbus wide-body freighters. Earlier this year, Cathay Pacific was leaning towards ordering Boeing 777-8F freighters. Subsequently, Cathay postponed its decision on purchasing aircraft by several months.
Source: Reuters
8. Hainan Airlines Cargo and China Post Direct Cooperation Officially Implemented
On November 29th, since the signing of a strategic cooperation agreement between Hainan Airlines Group and China Post, to accelerate the implementation of business cooperation between the two parties, the aviation group's cargo company has led the establishment of a project team to fully promote cooperation with China Post in aspects such as mail transportation, transportation capacity guarantee, and digitalization. Up to now, comprehensive cooperation has been carried out with China Post in mail transportation, transportation capacity guarantee, digitalization, etc.
Since November 2023, Hainan Airlines Cargo Co., Ltd., a subsidiary of the aviation group's cargo company, has taken the lead in direct cooperation with China Post in the belly of passenger aircraft. Through the overall coordination of the project team, the market and guarantee departments of Hainan Airlines Cargo actively cooperated, arranging dedicated personnel to track and monitor the warehousing, loading and unloading, etc., to promptly solve problems and ensure the normal shipment of mail. Finally, breakthroughs have been achieved in direct mail transportation on routes such as Beijing to Brussels, Belgrade, Tokyo, Osaka, etc., and it has carried 12 tons of mail cargo.
Source: Air Cargo Information Express
9. State Post Bureau: Accelerate the Promotion of "Express Delivery Going Global" Project
On November 29th, the State Post Bureau held a director's office meeting, emphasizing the need to focus on improving the industry's cross-border service capabilities, enhancing interoperability, making good use of comprehensive three-dimensional transportation networks, relying on railways, roads, airports, etc., to strive to build a safe, convenient, efficient, green, economical, inclusive, and resilient international postal network. Efforts should be made to enhance circulation capacity, accelerate the promotion of the "Express Delivery Going Global" project, better serve cross-border e-commerce and modern trade, leverage industry characteristics and advantages to better maintain the stability and smoothness of global industrial and supply chains, and make positive contributions to the construction of an open pattern of interconnection at home and abroad and two-way assistance between the East and the West.
Source: State Post Bureau
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Cross-border e-commerce logistics Bai xiaosheng
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