1. SHEIN to Launch Resale Platform in Europe and the UK

On June 5th, SHEIN announced that its resale platform will be launched in Europe and the UK, allowing consumers to buy and sell second-hand products from this fast fashion retailer online. The platform, which was launched in the U.S. about two years ago, will first be introduced in France, followed by the UK and Germany.  

Source: aawsat.com

2. TikTok E-commerce Sets H2 U.S. GMV Target Exceeding $12 Billion  

On June 5th, it was reported that TikTok’s GMV target for the U.S. market in the second half of the year is between $12 billion and $13 billion, with the Global Selling (cross-border) business expected to contribute about one-fifth of this total.

 At the beginning of 2024, TikTok announced that one of its major e-commerce goals was to expand its GMV in the U.S. tenfold. According to public data, TikTok currently has 170 million monthly active users in the U.S. TikTok Shop was officially launched in the U.S. in September 2023, and by the end of last year, the daily GMV in the U.S. was $14 million. Given the past performance and the various challenges TikTok faced in the U.S. in the first half of this year, the target for the second half is quite ambitious. With the first half of the year nearly over, TikTok’s e-commerce performance in the U.S. has been underwhelming. Data analysis site Tabcut shows that from January to May 2024, TikTok's total closed-loop GMV in the U.S. was less than $2 billion. If the annual U.S. target of $17.5 billion reported by Bloomberg at the beginning of the year is accurate, only 11% of the GMV target has been achieved in the first five months.  

Source: 36Kr Future Consumption

3. Maersk Raises Full-Year Performance Forecast

   On June 5th, Maersk noted signs of further port congestion, especially in Asia and the Middle East, with container freight rates also rising further. This trend is expected to gradually form and drive strong financial performance in the second half of 2024. Based on this development, Maersk has raised its full-year performance forecast for 2024, now expecting a base EBITDA of $7 billion to $9 billion and EBIT of $1 billion to $3 billion (previously $4 billion to $6 billion and -$2 billion to $0 billion, respectively), and free cash flow of at least $1 billion (previously at least -$2 billion).  

   Source: maersk.com

4. J&T Express Completes Acquisition of 20% Stake in KEX

 On June 5th, J&T Express announced that it had completed the acquisition of a 20% stake in KEX. In April, J&T Express paid the full equity transfer payment to BNS, a wholly-owned subsidiary of MMC, after which KEX began the process of changing its equity registration. Recently, KEX has completed the equity registration change, and the company has obtained the updated registration certificate and other related equity change documents from the competent authorities in Mongolia, now holding a 20% stake in KEX.  

Source: J&T Express

5. SF Express: 1.92 Million Shares Repurchased by End of May

On June 5th, SF Holdings announced that the company began its share repurchase program on April 30, 2024. As of May 31, 2024, the company had repurchased a total of 1.9193 million shares through a dedicated securities account via centralized bidding. The total repurchase amount was approximately RMB 70.4069 million, with the repurchased shares accounting for 0.04% of the company's total share capital. The average transaction price was RMB 36.68 per share.  

Source: SF Group

6. Joe Tsai: Hopes for Double-Digit Growth for Alibaba by March 2027

 On June 5th, Alibaba Group Chairman Joe Tsai expressed to Kam Shing Kwang, Chairman of North Asia and Vice Chairman of Investment Banking for Greater China at JPMorgan, that Alibaba has decided to focus on its core e-commerce and cloud computing businesses, setting a growth target for the next decade. The goal is to restore revenue growth and achieve double-digit growth by the end of fiscal year 2027, which ends in March 2027.  

Source: 36Kr

7. TikTok Shop Cross-Border E-commerce Launches "Hundred-Million Club" Special Policy

 On June 5th, TikTok Shop cross-border e-commerce officially launched the "Hundred-Million Club" special policy. This initiative aims to help an increasing number of cross-border self-operated merchants in the U.S. achieve significant GMV breakthroughs by providing a series of special incentives and resource support. This policy will prioritize key merchants operating cross-border on TikTok Shop in the U.S.

Source: TikTok Shop Cross-Border E-commerce

8. SHEIN's Traffic Increases by 1638% During Hot Sale

On June 5th, it was reported that during Mexico's annual Hot Sale event in 2024, SHEIN's app traffic significantly increased. AT&T Mexico analyzed app traffic on online platforms during the Hot Sale and found that SHEIN's traffic grew by 1638% compared to the previous year, far surpassing other e-commerce platforms. Walmart's traffic increased by 698%, Mercado Libre by 111%, and Amazon by 44%.

On the first day of the Hot Sale event, e-commerce platform app data traffic was at its peak, with SHEIN's traffic increasing by 61% that day. AT&T's research also showed that 51% of Mexican internet users purchased items during last year's Hot Sale event, with the main buyers being between the ages of 25 and 44. The shopping preferences and purchasing power of this demographic contributed to SHEIN's strong growth in the Mexican market.

Source: Chuhai.com

9. Amazon Launches "Price Discount" Promotion Tool

On June 5th, Amazon announced the launch of a new promotion tool called "Price Discount." This tool allows sellers to set a discounted price for products for a period of 1-30 days (1-14 days for Australia) and display a strikethrough price on the page. It enables limited-time promotions with a specified quantity of inventory at the discounted price. The tool has a low threshold for use and is currently available to all sellers on all sites, offering discounts to all customers.

Source: Amazon Global Selling

10. Miravia Summer Super Sale Coming Soon

    On June 5th, it was announced that Miravia's Summer Super Sale is about to take place. The pre-sale period will be from June 19th to June 23rd, and the official sale period will be from June 24th to June 30th. The main features of the sale include limited-time night discounts, price difference refunds, multi-item savings within the same store, and cross-store discounts.  

Source: Miravia

11. COSCO Shipping Mexico Express Successfully Launches

On June 5th, the fully loaded "Xin Dalian" vessel successfully docked at Ensenada Port, Mexico, marking the successful launch of the COSCO Shipping Mexico Express (WSA5) route. On the same day, COSCO Shipping signed three memorandums of understanding (MOUs) with Hisense and Hutchison Ports for the Hisense Monterrey Factory warehousing project, the Hutchison Ensenada Yard project, and the Hisense Tijuana Factory inbound logistics project. These agreements aim to promote fully digital supply chain cooperation, further strengthening integration with customers' industrial chains, thus opening a new chapter in the development of COSCO Shipping's business in Mexico.

Source: COSCO Shipping

12. China-Kazakhstan Logistics Cooperation Base Exceeds 6,000 China-Europe Trains  

On June 5th, it was reported that over the ten years since the China-Kazakhstan (Lianyungang) Logistics Cooperation Base began operations, more than 6,000 China-Europe (Central Asia) trains have been launched, with a total volume exceeding 530,000 TEUs (531,000 TEUs). Currently, over 80% of daily consumer goods imported from China and exported minerals and grains from Kazakhstan are distributed through this base. It has cultivated over 20 types of specialized cargo trains, including those for auto parts, books, household appliances, and ferroalloys, significantly promoting connectivity and trade between China and Central Asian countries.  

Source: CCTV News, Shopify E-commerce Independent Station

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