1. SF Express Opens New Airside Logistics Center with SATS

On October 21, SF Express held the grand opening ceremony for its Singapore airside logistics center at SATS Airfreight Terminal Core A, located at Changi Airport. The new center will significantly reduce customs clearance time from 4-6 hours to 1.5-2 hours, enhancing SF Express' cargo sorting and transshipment capabilities in Singapore. It will also help expand SF's logistics network across Southeast Asia and globally.  

SF Express Vice President Zhang Ji stated, "As a close neighbor to China, Singapore links South Asia and Oceania, boasting significant geographical advantages. With its advanced logistics operations and facilities, Changi Airport has become a crucial global logistics hub."  

Source: SF Express Group  

2. SHEIN Customer Base Soars by 138.8% in First Eight Months  

On October 21, it was reported that SHEIN's customer base grew significantly in the first eight months of 2024, with an increase of 138.8% by August, according to credit card data from Earnest. This growth underscores SHEIN's strong global appeal and supports the successful implementation of its "500 City Industry Belt" initiative to bring Chinese manufacturing to the world.  

Source: Earnest  

3. Four Major Courier Giants Release Latest Financial Reports

On October 21, SF Express, YTO Express, Yunda Express, and STO Express, all listed on the A-share market, released their September financial reports.   SF Holdings reported a combined revenue of ¥24.827 billion from its express, logistics, supply chain, and international businesses, representing a 9.01% year-on-year increase. Express delivery revenue reached ¥18.260 billion, a 4.75% increase. Business volume was 1.141 billion parcels, up 12.64%, while international and supply chain revenue was ¥6.567 billion, up 22.89%.  

YTO Express reported ¥5.047 billion in express product revenue for September, a 19.57% increase. Business volume reached 2.312 billion parcels, up 28.03%.  

Yunda Express recorded ¥4.083 billion in revenue for its express services, a 6.75% increase, with a total of 2.036 billion parcels, up 21.99%.  

STO Express achieved ¥4.033 billion in revenue, a 16.91% increase, with 1.998 billion parcels delivered, up 21.93%.  

Source: Express Magazine  

4. Temu Breaks into the Top 20 E-commerce Retailers in the U.S.

On October 21, a survey conducted by BCG and the World Retail Congress showed that 60% of retail innovation leaders prioritize investment in e-commerce, particularly in third-party marketplaces and social commerce. Temu, a fast-growing platform from Asia, has entered the top 20 largest e-commerce retailers in the U.S., with an average product price 50% lower than Amazon. Its large in-app discount campaigns boast a conversion rate of 10%, far exceeding the industry average of 2%.  

Source: YiLan Business  

5. Amazon to Adjust Return Policy for Large and Heavy Items  

On October 21, Amazon announced a significant change to its return policy for large and heavy items starting from October 30, 2024. Goods weighing over 31.5 kg or with a longest side (including packaging) of 175 cm will no longer be handled by Amazon warehouses. Sellers under the Fulfilled by Merchant (FBM) system will need to manage these returns themselves, including pick-up and customer refunds. This policy will affect Amazon's German, Spanish, French, and Italian marketplaces.  

Source: Amazon  

6. TikTok Shop's GMV in the U.S. Grows 124%

On October 21, TikTok Shop announced its fall sale results, showing strong overall growth in the U.S. market. Paid GMV surged by 124%, live-streaming GMV by 111%, and short video GMV by 120%. Both self-managed and fully-managed business models hit record-high single-day GMV, with self-managed sales increasing by 144%, live-streaming by 133%, and fully-managed by 166%.  

Source: TikTok Shop Cross-Border E-Commerce  

7. European Cross-Border E-commerce Sales to Reach €326 Billion

On October 21, a new study by Cross-Border Commerce Europe (CBCommerce) predicted that European cross-border e-commerce will generate €326 billion in sales in 2024, with 69% of these transactions coming from online marketplaces like Amazon, Alibaba, and eBay. The top 100 cross-border e-commerce platforms will account for €197 billion in sales, with Amazon, AliExpress, eBay, and Etsy leading the way.  

Source: CBCommerce  

8. Lazada Thailand Launches Fully-Managed Service

On October 21, Lazada Thailand upgraded its fully-managed service to help local businesses with strong supply chains and price advantages seize the billion-dollar e-commerce market. Under this model, merchants only need to supply and ship products, while the platform manages operations, marketing, and promotions. According to Momentum Works, Lazada held a 30% market share in Thailand's e-commerce market last year, ranking second only to Shopee.  

Source: Lazada  

9. eBay Germany Launches Top-Service Label

On October 21, eBay announced the launch of a new Top-Service label for the German market, aimed at enhancing sellers' competitiveness and sales opportunities. Eligible products will automatically receive the label without additional registration or fees. Sellers must meet eBay's top-rated seller criteria and provide traceable logistics for items over €10, fixed-price listings, and free shipping within Germany to qualify.  

Source: eBay  

10. Hong Kong and Zhuhai to Collaborate on International Cargo Business

On October 21, Hong Kong's Chief Executive John Lee Ka-chiu delivered the 2024 Policy Address, announcing measures to consolidate Hong Kong’s role as an international aviation hub. The Hong Kong government will expand its aviation network, especially in collaboration with Belt and Road countries, and work with Zhuhai Airport to strengthen cargo services, creating synergy between the two regions.  

Source: Zhuhai News  

11. European Cargo Airlines Launch New Route

On October 21, European Cargo Airlines launched a new cargo route connecting Urumqi, China, to Cardiff, UK, primarily carrying cross-border e-commerce parcels. This marks the first international cargo route from Urumqi to Cardiff.  

Source: China Daily  

12. ONE Introduces and Upgrades Asia Routes

On October 21, Ocean Network Express (ONE) introduced the MD5 route connecting the Mediterranean and Asia, with stops in Barcelona, Singapore, and Shanghai. The company also upgraded its Pacific Northwest route (PN3), splitting it into two separate routes (PN3 and PN4) to shorten transit times and improve punctuality.  

Source: ONE  

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