1、2024 Fortune Global 500 Released

On August 6, the latest Fortune Global 500 list for 2024 was released. This year, the total revenue of the companies on the Fortune Global 500 list amounts to approximately $41 trillion, equivalent to one-third of the global GDP, representing a slight increase of about 0.1% compared to last year. Notably, Amazon has returned to the second position on the list. Meanwhile, Pinduoduo has made its debut, ranking 442nd with a revenue of $34.98 billion. Over the past year, Pinduoduo's market value has surpassed Alibaba's for the first time. JD.com, ranked 47th, has entered the top 50 for the first time. Among the 500 companies, including those from Taiwan, China has a total of 133 companies on the list. In the cross-border e-commerce logistics sector, six companies made it to the list: JD.com (47th), Alibaba Group (70th), China Post (83rd), COSCO Shipping (256th), SF Express (415th), and Pinduoduo (442nd).

Source: Fortune

2. GoodCang's Global Warehouse Network Expands Rapidly

On August 6, following a recent interview with the People’s Daily about GoodCang’s German warehouse, GoodCang announced further global expansion. With the "million+" new scale, GoodCang helps clients expand overseas during peak seasons. As of July this year, with the continuous expansion of GoodCang's US and European warehouses and the opening of warehouses in Savannah and Dallas, the total warehousing area in North America has reached 950,000 square meters. The total global warehousing area has exceeded 1.6 million square meters (approximately 17 million square feet), bringing GoodCang closer to its "second million project."

Source: GoodCang

3. Cainiao's AliExpress European Warehouse Order Volume Grows by 200%

 On August 6, as the "Olympic economy" continues to heat up, the number of orders from consumers in France, especially in the Paris region, has significantly increased. AliExpress and Cainiao's cross-border e-commerce cargo exports have reached new highs. In July this year, the order volume from Cainiao’s European warehouses increased by more than 200% compared to May, mainly benefiting from the European Championship and Olympic Games traffic. Currently, Cainiao’s European warehouses cover seven countries, including Spain, France, and Germany, integrating functions such as collection, sorting, consolidation, and warehousing. They offer same-day delivery for orders placed in the morning, ensuring stable delivery times of "global five-day delivery" during major events and promotions.

Source: Cainiao

4. J&T Express's Logistics Park Project in Zhengzhou Air Cargo Hub Nears Completion

On August 6, it was reported that the J&T Express logistics park project in the Zhengzhou Air Cargo Hub is nearing completion and has entered the warehouse equipment installation stage. This warehouse will become the largest customized logistics warehouse in the central six provinces. The project covers nearly 180,000 square meters (approximately 269 acres) with a total investment of about 1.8 billion yuan. The logistics park is expected to handle 2.6 million items per day when fully operational, with an annual revenue forecast of 3 billion yuan, indirectly creating about 3,000 jobs.

Source: Zhengzhou Daily

5. DPD China Officially Opens Special Goods Express Channel to Europe and the UK

On August 6, DPD China, in collaboration with Henan Post, launched a new express product, "E-Speed Treasure." Leveraging frequent flights, it ensures efficient domestic transportation, making "E-Speed Treasure" the choice for e-commerce users nationwide during the peak season for direct shipments to the EU and the UK. This new express line breaks the limitations of traditional cargo channels, supporting the delivery of special goods for the first time, marking a significant innovation for DPD China. The route flies from Zhengzhou (CGO) directly to Luxembourg (LUX), with five flights per week. The flights transfer at Luxembourg, utilizing its position as a major European transportation hub to quickly distribute to LGG, LHR, and AMS ports. The destinations cover the UK and 26 EU countries, with pick-up locations including Guangzhou, Shenzhen, Xiamen, Yiwu, and Shanghai, as well as local collection in Henan. Delivery to the UK is within 5-7 days and to the EU within 7-10 days.

Source: DPD International Express

6. Dianxiaomi ERP Connects with AliExpress Overseas Fulfillment

On August 6, it was announced that Dianxiaomi ERP has completed integration with AliExpress overseas fulfillment services, supporting bulk collection and listing, significantly improving efficiency. Sellers joining the AliExpress overseas fulfillment model can use Dianxiaomi ERP to achieve integrated management of key business processes such as orders, procurement, and warehousing, gaining real-time control over business operations and enhancing operational efficiency.

Source: Dianxiaomi

7、TikTok Shop Adjusts Commission Rate to 9% in the UK

On August 6, it was announced that TikTok Shop will raise its seller commission fee in the UK from 5% to 9%, effective September 2, 2024. The platform emphasized its commitment to building "the marketplace of the future" by prioritizing the development of live streaming and short video content. Additionally, TikTok Shop introduced a "Seller Task" program. Under this program, UK sellers who produce a "target number of TikTok live streams or shoppable videos" will have the opportunity to reduce their fees. As part of the program, sellers can collaborate with TikTok creators to achieve these goals. TikTok Shop stated that these incentives aim to encourage sellers to expand their audience through live streaming and shoppable videos.

Source: TikTok Shop

8. Shopify Updates Store Editor Features

On August 6, it was reported that Shopify has upgraded its online store editor features, allowing meta fields to be used as dynamic sources. This update helps merchants seamlessly link custom data to their online stores, providing customized storefront appearances and functions for different markets. Before adding dynamic sources, merchants need to add meta fields. Meta fields can be understood as "custom fields" used to store specialized information not typically captured by Shopify's backend, such as numbers, colors, sizes, and related products. Adding meta fields helps merchants display relevant information in their stores, which can be done in Shopify's online store editor.

Source: Shopify Independent E-commerce

9. Amazon Canada to Charge Advertising Management Fees

On August 6, Amazon announced that starting August 15, 2024, it will charge advertising management fees for ads placed on its Canadian site. Notably, Amazon has already been charging management fees for advertising in France, Italy, Spain, the UK, Austria, and Turkey. The current management fee rates in these regions are: Canada 3%, UK 2%, Italy 3%, France 3%, Spain 3%, Austria 5%, and Turkey 7.5%. These rates may vary based on seasonal and timing factors.

Source: Amazon

10. Etsy to Trial Membership Service in the US Market

On August 5, Etsy announced that it will launch its first membership program (Etsy Insider) for US users in September. The program will invite selected target customers and will be offered as a closed beta service. Participating buyers can choose to purchase annual or quarterly memberships, enjoying exclusive benefits such as free shipping and special discounts. Etsy has not yet disclosed the specific cost of the membership program, but Etsy's Chief Operating and Marketing Officer Raina Moskowitz mentioned that the monthly subscription fee for the membership service will be approximately the price of a latte, around $3-$9. Additionally, Moskowitz stated that the company will not roll out the membership program on a large scale initially but will decide whether to expand it to the entire US market based on consumer feedback during the test period.

 Source: Etsy

11. Maersk Raises Earnings Guidance for the Third Time

On August 5, global shipping giant Maersk released its preliminary second-quarter earnings report. Preliminary data shows that Maersk's unaudited revenue for the second quarter of 2024 was $12.8 billion, with basic EBITDA of $2.1 billion and basic EBIT of $756 million (reported EBIT of $963 million). Due to the prolonged disruption of global shipping caused by the Red Sea conflict, which is expected to last until at least the end of 2024, combined with strong container market demand, Maersk has again raised its full-year guidance for 2024. Maersk now expects basic EBITDA to be between $9 billion and $11 billion, and EBIT to be between $3 billion and $5 billion (previously $7 billion to $9 billion and $1 billion to $3 billion, respectively), with free cash flow of at least $2 billion (previously at least $1 billion). The global container market volume growth forecast for 2024 has also been raised to 4%-6% (previously 2.5%-4.5%).

Source: Maersk

12. Amazon to Generate 20% of Sun Country Airlines' Revenue 

On August 6, it was reported that although Amazon's flight activities have decreased recently, Sun Country Airlines' freight revenue slightly increased in the second quarter. It is expected that in one year, when the retail giant supplies more Boeing 737-800 freighters to the airline, freight revenue will significantly increase. Chief Financial Officer Dave Davis stated in an earnings call that starting from mid-2025, Sun Country's freight division will become a larger part of Amazon's business. By 2026, the freight division's revenue is expected to account for nearly 20% of Amazon's total revenue, compared to about 10% in 2024.

Source: Cross-border E-commerce Logistics Baixiaosheng

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