1. SHEIN Officially Enters the South Korean Market

On June 21, online fashion retailer SHEIN announced its official entry into the South Korean market, with actress Kim Yoo-jung endorsing its brand Dazy. The SHEIN Korea website officially went live at the end of April.

Source: Jiemian News

2. Amazon Plans to Expand Its Logistics Infrastructure

On June 21, Amazon announced plans to invest 10 billion euros in Germany to expand its logistics network and cloud infrastructure nationwide. This year, Amazon will create 4,000 new jobs at three distribution centers: one in North Rhine-Westphalia, opening in late summer 2024; one in Thuringia, opening in May 2024; and one in Großenkneten, Lower Saxony, opening in August 2023.

Source: Amazon

3. Kuehne + Nagel Collaborates with Etihad Cargo on Capacity Cooperation

On June 21, it was announced that Etihad Cargo has established a direct online booking integration with Kuehne + Nagel, providing freight forwarders with real-time capacity and pricing information from the Etihad Cargo network.

This integration uses advanced web services developed jointly by both companies, offering Kuehne + Nagel instant visibility of available capacity and dynamic pricing through Etihad Cargo’s Instant Quote (IOR) tool, enhancing transparency, flexibility, and efficiency for faster bookings.

Source: Global Air Cargo

4. Global Top 20 E-commerce Platforms Announced

On June 21, traffic statistics website SimilarWeb updated the rankings of the world’s most popular e-commerce shopping sites. The top 20 list mostly includes popular platforms for cross-border sellers, with the following e-commerce platforms: Amazon, eBay, AliExpress, Temu, Rakuten, Ozon, Etsy, Wildberries.ru, Amazon.de, Walmart.com, Avito.ru, Amazon.co.uk, Amazon.in, Shopee.co.id, Mercadolivre.com.br, eBay.co.uk, Allegro.pl.

Source: EBN

5. Shopify Upgrades Address Autofill Feature on Checkout Page

On June 21, it was announced that Shopify has upgraded the address autofill feature on its checkout page, making the checkout process quicker for customers and significantly simplifying backend management for merchants. With continuous upgrades and optimizations to the Shopify system, the address autofill settings, previously found under "Settings" > "Checkout," have now been moved to a more intuitive checkout and account editor. Merchants can now enable or adjust the address autofill feature in just a few easy steps within this editor, providing customers with a smoother, more efficient shopping experience.

Source: Shopify E-commerce Platform

6. Shopee Singapore Site Adjusts Local Fulfillment Product Shipping Policy

On June 21,it was announced that Shopee Singapore will adjust the Days To Ship (DTS) for local fulfillment in-stock products starting from July 10, 2024 (local time), to enhance the buyer's purchasing experience, encourage better seller performance, and increase competitiveness in the market. Pre-sale products are not affected.

Specifics are as follows: Orders paid by 2:00 PM* will have a DTS of 1 day, meaning orders confirmed by 2:00 PM must be shipped within 1 business day and must be dispatched on the same or the next shipping business day. Orders paid after 2:00 PM* will have a DTS of 2 days, meaning orders confirmed after 2:00 PM must be shipped within 2 business days and must be dispatched on the same day or within the next two shipping business days.

Source: Shopee

7. Mercado Libre Mexico Lowers Sales Commission

On June 21, it was announced that Mercado Libre Mexico has officially launched Classic Listing, allowing sellers to choose a lower sales commission model to enhance product price competitiveness and reduce operating costs. Opening a store on Mercado Libre has no monthly rent or deposit fees; instead, Mercado Libre charges a sales commission based on the product category only after a sale is made. Currently, Classic and Premium are the two sales commission models offered by Mercado Libre.

Source: EBN

8. Philippine Department of Trade and Industry Seeks Enhanced Cooperation with TikTok to Promote MSME Development

On June 21, the Philippine Business Mirror reported that Philippine Trade and Industry Secretary Pascual led a delegation to Singapore to meet with TikTok representatives to discuss e-commerce cooperation. Secretary Pascual stated that TikTok has played an active role in "empowering" Philippine micro, small, and medium enterprises (MSMEs). The cooperation between the Department of Trade and Industry and TikTok is a "key step" in the development of Philippine e-commerce, which will significantly boost the growth and development of the digital market in the Philippines, benefiting businesses, consumers, and the overall economy.

The Department of Trade and Industry's statement emphasized that TikTok is a "proactive" partner in shaping the development of e-commerce in the Philippines. The Department appreciates TikTok's Safety Enforcement Tools (TSET) and will actively discuss with TikTok the establishment of a content creation academy to nurture Filipino creative talent, paving the way for deeper digital integration in the Philippines.

Source: Department of Trade and Industry

9. Best Inc. Reaches Final Privatization Agreement

On June 21, Best Inc. announced that it has signed a privatization merger agreement with a buyer consortium, with an acquisition price of $2.88 per American Depositary Share (ADS), representing a 25.2% premium over the closing price on the day before Best Inc. received the privatization offer. The acquisition price also represents approximately 30.9% and 28.7% premiums over the closing prices of the past 15 and 30 trading days, respectively, and a 25.2% premium over the closing price on June 18, the day before the merger agreement was signed. The transaction is expected to be completed in the third quarter of 2024. Upon completion, Best Inc. will delist from the New York Stock Exchange and become a wholly-owned private company.

Source: Best Inc.

10. Time:Matters Expands Air Express Business in Shanghai

On June 21, it was announced that German express logistics company time:matters will open a courier station at Shanghai Pudong International Airport this month, handling courier and air freight shipments.

The courier station, built in partnership with the cargo terminal operator Shanghai Pudong International Airport Cargo Terminal Co., Ltd. (PACTL), is expected to reduce cargo handling time by up to two-thirds and allow time:matters to offer flexible, customized services. The station is designed to optimize the monitoring and handling speed of time-critical and sensitive cargo.

Source: Global Air Cargo

11. COSCO Shipping Holdings Launches First Full-Chain Integrated Logistics Station in South China

On June 21, it was announced that COSCO Shipping Holdings has successfully launched the Fangchenggang Integrated Logistics Station under the "Xiangchangda" project, which focuses on full-chain container management in South China. As the first full-chain integrated logistics station in the South China region, this project primarily caters to the import and export goods and customer needs in Fangchenggang. It provides a series of value-added services, including bulk-to-container conversion, container transshipment, container storage, container repair, and stacking, effectively enhancing customer container loading efficiency and user experience.

Source: COSCO Shipping Holdings

12. Vietnam Proposes VAT on Cross-Border E-Commerce Platform Imports

On June 21, it was reported that Vietnamese legislators are proposing to impose a value-added tax (VAT) on goods imported via cross-border e-commerce platforms. If the proposal is approved, Vietnam will follow the example of Thailand and the Philippines in implementing similar measures. Currently, in Vietnam, imported goods valued at less than $39 are exempt from import taxes and VAT. Thailand and the Philippines have already implemented or proposed measures to levy VAT on low-value imported goods. Since May, Thailand has imposed a 7% VAT on all imported goods transported via postal services, while the Philippines imposes VAT and customs duties on imported goods valued over $200 and seeks to levy VAT on "digital service" transactions through cross-border e-commerce platforms.

If the proposal is approved, it will increase the competitiveness of Vietnamese manufacturers and small businesses on cross-border e-commerce platforms while helping to control the influx of low-value goods into Vietnam and promoting local industry development.

Source: Chuhaiwang

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Public Account: Cross-border E-commerce Logistics Baixiaosheng