1. TEMU's 2024 US GMV to Reach $25 Billion

On July 4, eMarketer released the list of the top five e-commerce platforms in the US for 2024: Amazon, eBay, Temu, TikTok Shop, and Walmart. According to eMarketer and Marketplace Pulse forecasts, Amazon’s third-party seller sales this year will reach $325 billion, and eBay’s sales will be around $35 billion, almost the same as in 2022 and 2023.

Temu has set a sales target of $60 billion this year, with the US market accounting for 40%, or about $20-25 billion. Although it only sold in the US when it launched in September 2022, its sales in Europe may now surpass those in the US. TikTok aims to expand its TikTok Shop e-commerce business in the US to $17.5 billion this year. If Temu and TikTok achieve their targets this year, they will surpass Walmart in market rankings.

Source: Cross-border E-commerce Logistics

2. Lege Shares Plans to Sell Part of its Overseas Warehouses

On July 4, Lege announced that its overseas subsidiary, 6075 Lance, LLC, plans to sell its overseas warehouse in Florida to a subsidiary of EQT Exeter. The warehouse has a building area of about 350,000 square feet. The transaction has been approved by the board of directors but still requires a 30-day due diligence period. The sale aims to recover funds to support the construction of other overseas warehouses in East Ellabell, USA, and the West Coast, which is expected to have a positive impact on the company’s financial status.

Source: Lege

3. JD Airlines Opens New “Ezhou-Manila” Route

On July 4, a JD Airlines cargo plane loaded with cross-border e-commerce goods took off from Ezhou Huahu International Airport in Hubei and landed at Ninoy Aquino International Airport in Manila, the capital of the Philippines, after a 3-hour and 50-minute flight. This marks the official opening of JD Airlines’ “Ezhou-Manila” international cargo route. This route will operate five flights per week, using Boeing 737-800 BCF cargo planes, transporting cross-border e-commerce goods, Southeast Asian fruits, seafood, and other import and export goods.

Source: JD Logistics

4. FedEx Launches Same-Day Delivery Service

On July 4, FedEx Group announced that it would provide same-day delivery service to Hong Kong for fresh fruits from Gyeongsangbuk-do, South Korea. The service will be available on four weekly flights from Incheon to Hong Kong. This allows local consumers in Hong Kong to enjoy seasonal Korean products.

FedEx leverages its comprehensive intra-Asia air network to offer this service through its existing Incheon to Hong Kong flights, operating four times a week. The cold chain facilities at FedEx’s Incheon hub maintain the quality and freshness of these temperature-sensitive goods before transportation. Upon arrival at FedEx's Hong Kong counters, the goods will be offloaded and delivered directly to customers in the city center.

Source: FedEx

5. JD Express Opens Special China-France Olympic Route

On July 4, JD Express International announced the launch of a special China-France route to ensure hassle-free delivery for consumers during the Olympics. From July 2 to August 2, customers sending packages from China to France can receive a 30% discount voucher. JD Express also offers free insurance coverage, allowing consumers to enjoy full compensation for any loss or damage without paying extra for insurance.

Source: JD News

6. May Air Cargo Demand Remains Strong

On July 4, according to the latest data from the International Air Transport Association (IATA), air cargo demand in May saw a significant increase across all regions, benefiting from trade growth, booming e-commerce, and shipping capacity constraints. Compared to May 2023, total air cargo demand (measured in cargo tonne-kilometers) increased by 14.7% (with international demand up by 15.5%). This marks the sixth consecutive month of double-digit year-over-year growth. Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 6.7% (international by 10.2%) compared to May 2023.

Source: Cross-border E-commerce Logistics

7. Shopee Increases Commission Fees for Thailand Site

On July 4, Shopee Thailand announced that to incentivize sellers to provide better consumer experiences, the commission fees for overseas warehouses, third-party warehouses, and Nanning warehouses will be uniformly increased by 2.14% starting from July 12, 2024. After the adjustment, the PFF (Multi-Shipping Store) SLS orders from overseas and Nanning warehouses will rise to 8.56%, making them the highest commission items currently.

The seller commission rate (including VAT) on this site will also be increased by 2.14%, making the new commission rate 8.56%, the same as the SLS order commission for Multi-Shipping Stores. Additionally, Shopee specifies that sellers participating in either FSS or CCB activities can continue using the previous rates, and the increased 2.14% will not apply to them.

Source: Shopee

8. Shopify Updates Return Approval Process

On July 4, Shopify announced updates to its return approval process, adding exchange product and return fee features. When customers submit a return request, merchants will receive an email notification for review and can approve or reject the request in the Shopify backend. Upon approving the return request, merchants can add exchange products and send shipping instructions and any return labels to customers via email, thus mitigating marketing losses and promoting product sales. Merchants can also add return shipping fees and product restocking fees during the approval process, which will be automatically included in the return settlement.

Source: Shopify Independent E-commerce

9. Ozon Active Buyers See Significant Growth

On July 4, Ozon released key data: in 2023, Ozon invested 10 billion in the construction and operation of pickup points, increasing their number by 2.6 times to over 50,000. They invested 97 billion in warehouse construction, with 31 warehouses expected to be completed in Russia and CIS regions by the end of 2024. As of the first quarter of 2024, the number of active buyers reached 49 million, a significant increase compared to 8 million in the same period in 2019.

Source: Ozon

10. DHgate to Upgrade Shipping Rules for Overseas Routes

On July 4, DHgate announced that to standardize platform shipping rules and ensure a better shopping experience for buyers, the platform will upgrade its shipping rules for overseas routes on July 22, 2024. This includes upgrading the shipping fee templates for overseas routes. Only merchants with overseas warehouse permissions (where the order item is stocked overseas) can use overseas routes for shipping, and the overseas routes that support shipping will be based on the merchant's overseas warehouse qualifications and country permissions.

Source: DHgate

11. Turkish Airlines Orders Four 777 Freighters

On July 4, Turkish Airlines announced the purchase of four Boeing 777 freighters to further expand its cargo capacity. This aircraft type has a capacity of 102 tons and a range of 9,200 kilometers. Over the past decade, Turkish Airlines has been expanding its cargo fleet, rising from the 22nd largest cargo airline with a 1.7% market share in 2015 to the 4th largest with a 5.8% market share in 2023.

Turkish Airlines currently has a cargo fleet of 25 aircraft, including eight Boeing 777 freighters, twelve Airbus A330s, two Boeing 747s, and three A310s. In December 2023, Turkish Airlines also ordered five Airbus A350 freighters and has the option to order 20 more.

Source: Cross-border E-commerce Logistics

12. CMA CGM Introduces PSS on Multiple Routes

On July 4, CMA CGM announced the implementation of a Peak Season Surcharge (PSS) from July 1, 2024 (loading date) until further notice. The surcharge will apply to all cargo from mainland China, Taiwan, Hong Kong, and Macau to Mombasa, Kenya, and Dar es Salaam, Tanzania, at a rate of $300 per TEU. Additionally, CMA CGM informed customers about the latest updates on PSS from the Mediterranean to West Africa for Turkey and Egypt, effective from July 15, 2024 (loading date).

Source: CMA CGM

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Public Account: Cross-border E-commerce Logistics Baixiaosheng