1、Temu's Sales in the U.S. Surged by 840%

On March 8th, it was reported that Temu's growth rate and customer loyalty in the United States continue to rise. Temu's sales in the U.S. increased by 840% between January 2023 and 2024, reaching a staggering 1100% during the 2023 holiday shopping season. In terms of customer loyalty and retention, 28% of users made repeat purchases on the platform 16 months after their initial purchase on Temu, which is twice the rate of Walmart and Target and nearly half of Amazon's.

Source: Earnest Analytics

2、DHL Withdraws from Acquiring DB Schenke

On March 8th, DHL Group announced its withdrawal from the acquisition of DB Schenke. DHL has long been considered a potential buyer of DB Schenke, as rumors of its sale circulated before DB Schenke's official listing. DHL Group CEO Tobias Meyer further stated that DB Schenke was determined to be "unsuitable" for investments in the e-commerce field. He believes that DHL Group has many other avenues for investment and, while interested in the e-commerce sector, DB Schenke is not a suitable fit. DHL Group has better ways to allocate funds for shareholders.

Source: aircargonews

3、DHL Air Freight Volume Decline Slows in Q4 2023

On March 8th, it was reported that DHL Group's air freight volume continued to be affected by reduced demand for air cargo, but showed significant improvement compared to the beginning of the year. The air freight volume in the fourth quarter decreased by 3.6% year-on-year to 433,000 tons. Compared to the same period last year, the third quarter was -12.2%, the second quarter was -13%, and the first quarter was -18.7%. However, due to continued weak freight rates, the global freight forwarding (GFF) sector's air freight revenue in the fourth quarter decreased by 32.5% year-on-year to €1.5 billion. Gross profit also decreased by 45.4% to €230 million. Overall, the group's revenue in the fourth quarter was €21.2 billion, down 10.2% year-on-year.

Source: aircargonews

4、Xi'an Plans to Build Logistics Distribution Center with Russian and Kazakh Partners

On March 8th, Russia, China, and Kazakhstan announced an initiative to improve transportation and logistics infrastructure. According to the newly signed memorandum of understanding, the three-party alliance aims to establish a new transportation warehousing distribution center in Selyatino, Moscow. This strategic move aims to improve freight efficiency and capacity, thereby promoting more robust economic and trade cooperation among the participating countries. Additionally, according to the memorandum, the three parties also plan to strengthen the Xi'an-Khorgos/Alashankou-Selyatino direct route, further developing this China-Kazakhstan-Russia international logistics transport corridor.

Source: Explore New Silk Road

5、COSCO Shipping Overseas Warehouse Project Makes Progress

On March 8th, COSCO Shipping announced that the first batch of goods for its overseas warehouse project had been successfully stored and shelved. This marks the formal realization of the full-chain operation mode for COSCO Shipping's cross-border e-commerce business.

Source: COSCO Shipping Holdings

6、Global Air Freight Demand Increases by 18.4% in January

On March 8th, it was reported that the global air freight market had a strong start in 2024. Global air freight demand, measured in cargo tonne kilometers (CTKs*), increased by 18.4% year-on-year in January 2023 (international demand increased by 19.8%). The growth rate in freight demand was the highest since the summer of 2021. Available air freight capacity (ACTKs) increased by 14.6% year-on-year in January 2023 (international demand increased by 18.2%), mainly due to the growth of belly cargo capacity in the passenger market, which increased by 25.8% year-on-year.

Source:International Air Transport Association (IATA)

7、Source: International Air Transport Association (IATA)

China's Foreign Trade Imports and Exports Grow by 8.7% in the First Two Months On March 8th, it was reported that in the first two months of 2024, China's total import and export value of goods reached 6.61 trillion yuan, an increase of 8.7% year-on-year. Among them, exports reached 3.75 trillion yuan, an increase of 10.3%, while imports reached 2.86 trillion yuan, an increase of 6.7%. The trade surplus was 890.87 billion yuan, an increase of 23.6%. In terms of U.S. dollars, China's total import and export value reached US$930.86 billion in the first two months, an increase of 5.5% year-on-year. Among them, exports reached US$528.01 billion, an increase of 7.1%, while imports reached US$402.85 billion, an increase of 3.5%. The trade surplus was US$125.16 billion, an increase of 20.5%.

Source: General Administration of Customs

8、Source: General Administration of Customs

China Cargo Airlines Opens "Guangzhou-Riyadh" Freight Route On March 8th, it was reported that China International Cargo Airlines successfully launched the "Guangzhou-Riyadh" freight route from Guangzhou Baiyun International Airport. This route is operated using B777-200F aircraft. The opening of this new route will provide an air bridge for the transportation of e-commerce goods between China and Saudi Arabia, further promoting the construction of Guangzhou's international air freight hub and supporting more diversified development of the regional air economy.

Source: Securities Times · e Company

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