CLUTCH ACKNOWLEDGES SECOMM AS A TOP 2022 ECOMMERCE DEVELOPERS IN VIETNAM

Let’s take a look at some notable eCommerce news this week with SECOMM!

Tiki replaced the Chairman of the Board, appointed 2 new CEOs

More than a month after the announcement that Tiki’s founder and CEO had resigned, the Vietnamese eCommerce marketplace has formally presented two new CEOs.

Tiki announced two new CEOs in a press statement on August 15: Mr. Richard Trieu Pham, General Director of Tiki Co., Ltd. (Tiki); and Ms. Vu Thi Nhat Linh, General Director of TikiNow Logistics (TNSL); Mr. Tran Ngoc Thai Son, Founder and CEO of Tiki, has become Chairman of the Board of Tiki Global Pte. Ltd.

Richard Trieu Pham has been the Chief Financial Officer (CFO & President) of Tiki since 2019. He assisted Tiki in improving the financial system to worldwide standards, and was in charge of establishing FinTech, InsurTech, and the ticketing platform Ticketbox. He is also the driving force behind Tiki’s successful series E funding in 2021 from significant investors such as AIA, UBS, Mirae Asset-Naver, and others.

Ms. Vu Thi Nhat Linh has been with Tiki since 2015 and has handled many key management positions. From 2018 to 2022, she will be in charge of Tiki implementation and development. Ms. Linh has been the deputy general director of TikiNow Logistics since 2022, overseeing Tiki’s supply chain, warehousing, delivery, and after-sales systems.

Notably, Mr. Tran Ngoc Thai Son was elevated to and served as Chairman of the Board of Tiki Global Pte. Ltd., a Singapore-based company.

According to Mr. Son, the hiring of two new executives is part of the enterprise’s HR strategy to retain and recruit bright, conscientious, and imaginative employees.

ShopBack fined over data leak that affected over 1.4 million users

E-commerce cashback platform ShopBack has been fined $74,400 by Singapore’s data privacy watchdog for a data breach that affected over 1.4 million of its customers.

According to the Personal Data Protection Commission (PDPC), ShopBack’s customer database was stolen by a hacker and put up for sale on an online forum in November 2020. These included the e-mail addresses of about 1.4 million users, 840,000 names, 450,000 mobile numbers, 300,000 bank account numbers, and the partial credit card information of about 380,000 users.

At the time of the incident, ShopBack hosted its customer database on virtual servers in an Amazon Web Services (AWS) cloud environment. It employed 12 people whose responsibilities included making sure that the keys to the servers were secure.

On June 4, 2019, a senior member of the team accidentally saved a key’s software code in a private repository on GitHub, a platform that allows developers to store and manage their code. The key in question had full administrative privileges. The error was discovered by a team member two days later and the key’s code was removed from GitHub.

“However, it remained viewable in GitHub’s ‘commit history’, which records all changes and previous versions of code uploaded on GitHub,” said PDPC in its report.

On June 21 of that year, the key was to be deleted and replaced by a new key as part of routine security measures.

The same employee, however, failed to fully disable and remove the old key after creating a new one. As a result, the compromised key could still be used to access ShopBack’s servers until about 15 months later.

Alibaba intend to hire 2,000 graduates as tech rules loosen

Alibaba’s Taotian Group, which includes its Taobao and Tmall retail platforms, put out a massive recruitment ad targeting graduates, per a post on its WeChat account. 

There are over 2,000 positions across various cities in China — including Beijing, Shanghai, and Hangzhou — up for grabs for those who graduate between November this year and October next year. The type of roles Taotian is hiring for runs the gamut, including those in technical roles, design, sales, and logistics.

The company did not list the salaries but Alibaba was the best-paying tech company in China with an average $5,000 salary, according to the careers platform Maimai, the South China Morning Post reported in June 2022.

Alibaba’s massive recruitment drive comes at an opportune time for China’s young graduates as youth unemployment runs rife. China’s unemployment rate for those in the 16 to 24-year-old bracket hit a record high of 21.3% in June — meaning one in five youths were unemployed. The situation got so bad that Beijing suspended the publication of the data from July onwards, citing a need to review its methodology. 

It’s not just the Taotian Group. Parent company Alibaba Holdings is also on a hiring spree, announcing in May that it plans to recruit 15,000 new employees this year. 

The development is a reversal after waves of job cuts in China’s tech sector following a regulatory crackdown that started in 2020 and wiped $1.1 trillion off the market value of its Big Tech firms. But the Chinese authorities are now cozying up to the same companies it had cracked down on as the economy struggles to recover from three years of on-off COVID-19 lockdowns. 

Shopee gets ‘power up’ to combat TikTok Shop

During the business results conference on August 15, Sea President and CEO – Forrest Li stated that the eCommerce landscape is undergoing a time of various user involvement via livestream, short video, influencer affiliate marketing, and so on.

Mr. Li believes that it provides new opportunities to grow and prosper. Given this good trend and success, Sea has been and will continue to boost its investment in Shopee in all markets in order to compete with new competitors such as TikTok.

Mr. Li, on the other hand, warned that the investment would have an impact on business performance and might result in losses for Shopee and the group for a period of time.

The competitive pressure comes at a tough moment for Sea, as investors seek a clear profit trajectory following years of hefty losses. Even though Shopee is believed to account for over half of Southeast Asia’s e-commerce market share, the company’s development has slowed since the Covid-19 outbreak.

Sea’s net income reached $330 million in the second quarter of this year, rebounding from a $931 million deficit the previous year. This is the group’s third profitable quarter in a row. However, income increased by only 5.2% to $3 billion, compared to a more than 100% growth during the Covid-19 period. Sales and marketing costs across all divisions were reduced to $493 million, a 49.3% decrease over the same time in 2022.

Shopee’s adjusted EBITDA (earnings before taxes, depreciation and interest) reached 150 million USD, higher than the loss of 648 million USD in the same period last year. Revenue grew 32.3% to $2.32 billion, the slowest rate on record.

Source: Compilation

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Let’s take a look at some notable eCommerce news this week with SECOMM!

Alibaba have 3-year-plan to export good through eCommerce

July 26, 2023 – Alibaba, the world’s biggest business-to-business (B2B) eCommerce marketplace, announced a three-year strategy to extend its footprint in one of Vietnam’s emerging industrial regions with the help of local partners. This is one of the efforts being taken to improve the accessibility of small and medium-sized businesses in Vietnam.

In the run-up to “Super September,” Alibaba has released forecasts for eight titles. According to its insights, “hot” product categories include: pet smart devices, outdoor gear, smart wearables, sports equipment, products and equipment healthy living equipment, industrial equipment, infrastructure equipment, and renewable energy vehicles.

“Vietnamese suppliers on Alibaba are gradually building a reputation with a large number of global buyers, especially in areas where Vietnamese businesses have an advantage such as agricultural products, fashion, horticultural products. Businesses can capture the needs of buyers by leveraging information from our platform, and adapt to changes in demand and sourcing preferences , will definitely develop successfully in the global market,” said Mr. Roger Luo – Southeast Asia Regional Director at Alibaba.

Zilingo – Fashion startup collapsed before becoming a unicorn

Zilingo used to be known as the ‘the morning star’ of the Southeast Asian fashion eCommerce market, nearly becoming a ‘unicorn’ four years ago. However, Zilingo abruptly decided to sell all of its assets to Swiss eCommerce management software supplier – Buyogo AG and nCinga Innovations earlier this year. This put an end to the leadership’s aim of conquering the fashion market, as well as Zilingo’s months-long battle for survival.

Zilingo was worth approximately $1 billion in 2019, but it was unable to survive the pandemic. CFO Ramesh Bafna, COO Aadi Vaidya, and CEO Ankiti Bose all left in 2022. While more than 100 employees left, creditors fought to generate pressure to collect money. 

The two founders and the group of investors intend to construct a new firm to take over Zilingo’s assets, which include the factory, the sourcing business (identifying and evaluating the efficiency of suppliers), and digital platforms. This group of investors will also invest $8 million in Zilingo as part of the arrangement.

Unfortunately, there was no miracle. The above-mentioned successful fundraising campaign of 54 million USD is likely the most outstanding campaign in the history of Zilingo’s birth, existence, and demise.

Like other bigtech that change their leader: BigCommerce names new president

BigCommerce – a popular eCommerce platform, has named Steven Chung, a technology industry veteran and experienced ecommerce sales executive, as its president. Chung will oversee BigCommerce’s sales, marketing, and services organizations. BigCommerce will pay Steven Chung a base salary of $460,000, according to a filing with the SEC.

Prior to joining the BigCommerce, Mr. Chung worked in many leadership positions in eCommerce and technology companies including Delphix Corp., Pagerduty, Inc., Demandware, Inc., OneLogin, Symantec, MicroStrategy, and PwC Consulting.

With so many years of expertise in this billion-dollar industry, it is clear that Steven Chung will set a fresh path for BigCommerce in the future.

Indian eCommerce startup Meesho posts first-ever profit, plans IPO in 12-18 months

Meesho, which was founded by Indian Institute of Technology graduates Vidit Aatrey and Sanjeev Barnwal, clocked more than 1 billion orders in the last 12 months. This Indian eCommerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview.

Meesho competes with Amazon and Walmart’s Flipkart in India’s fast-growing eCommerce market, with its website becoming popular by targeting smaller towns and cities with unbranded products like clothes and cosmetics. It was last valued at nearly $7 billion, PitchBook data shows.

Its revenue between January-June was more than $400 million, and Meesho expects it to cross $800 million by the year end, Chief Financial of officer Dhiresh Bansal told Reuters on Friday. An initial public offering (IPO) is now being planned in the next 12-18 months,  Bansal added.

Source: Compilation

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Let’s take a look at some notable eCommerce news this week with SECOMM!

Project S: The secret plan of TikTok’s holding company to “overthrow” Shein, Amazon

TikTok is expanding its online retail services by selling things through its video app, according to the Financial Times. This comes as TikTok’s holding company – Bytedance, seeks to compete with rivals such as Shein and Amazon.

TikTok UK customers have recently noticed a new purchasing tool called “Trendy Beat” that provides things that have shown to be popular on video. “We are always exploring new ways to enhance the community experience, and we are in the early stages of testing new shopping features,” the business stated.

According to a trustworthy source, Bytedance is preparing to establish “Project S” an online retailer that will compete with quick fashion firms such as Shein, Temu, and even Amazon.

Bob Kang, ByteDance’s eCommerce director, recently flew from Shanghai to London to manage TikTok’s activities in the United Kingdom. It is believed that Project S will employ TikTok’s Trendy Beat function to market products, with ByteDance in charge of generating such items.

TikTok undertook a major restructure last month in an effort to focus eCommerce on current regions such as the United Kingdom and Southeast Asia rather than going on a wide international expansion. Nonetheless, past attempts to replicate Shein and Temu’s model have failed. ByteDance’s shopping apps — Dmonstudio, Fanno, and If Yooou have been closed or neglected. 

As a result, developing Project S using TikTok’s main assets is seen as a promising move, paving the way for a dramatic conflict in the field of eCommerce in the near future.

Brazil’s postal service inks deal with Shopee to sell products to SEA

Brazil’s postal service Correios said on Wednesday it has signed an agreement with Singaporean shopping app Shopee to boost exports of Brazilian products to Southeast Asian markets. The deal aims to help small and medium companies from Brazil export to countries like Indonesia, Malaysia, the Philippines, Singapore, Taiwan, Vietnam and Thailand.

The trade bloc known as the Association of Southeast Asian Nations (ASEAN) is a key partner for the Brazilian economy, with a trade flow of $16.6 billion in the first half of 2022, up 21.3% compared to the same period in 2021, according to the latest data from ApexBrasil. 

With the agreement, companies “with good products and a huge potential” will gain the know-how and access to these markets needed to start the export process, said Eduardo Terra, president of the Brazilian Society of Retail and Consumption. 

The move follows last year’s announcement from Shopee that it had opened five new distribution centers in Brazil. The app has become one of the country’s most-downloaded e-commerce apps since its launch there in 2019, drawing users to its low-cost marketplace.

Temu enters South Korea to set up second Asian market

In September 2022, Temu – Pinduoduo’s（拼多多) cross-border e-commerce platform, made its debut in the US market and quickly climbed to the top of the shopping app charts. Since then, Temu has maintained an astonishing pace of expansion, going online in 23 countries in less than a year, ranking high on most countries’ application charts.

Currently, Temu has successfully entered countries such as Australia, Austria, Belgium, Canada, Finland, France, Germany, Greece, Ireland, Italy, Japan, Luxembourg, Mexico, the Netherlands, New Zealand, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, and the United Kingdom.

On July 1, Temu officially announced its launch in Japan, marking a significant milestone as it enters the Asian market for the first time. Just half a month later, Temu expanded to its second stop in Asia, South Korea, further expanding its presence in the Asian business landscape.

In the South Korean market, Temu continues to focus on offering high cost-effectiveness, with product prices ranging from KRW 1000 to 30,000 (approximately CNY 5 to 168). However, the initial performance in the South Korean market did not meet expectations, ranking 163rd among similar apps in the AppStore, with only 10 ratings and two reviews. The preceding scenario may have occurred because Temu is facing stiff competition from domestic firms such as Coupang and Naver, while Alibaba’s “giant” AliExpress has long held a crucial position in Korea.

Indonesia to ban imported goods below $100 on eCommerce marketplace

The Indonesian Ministry of Trade plans to limit the sales of imported goods on ecommerce platforms as it is revising its regulations on online trade.

Isy Karim, the director general of domestic trade, said that the new rules will serve to protect Indonesia’s MSMEs. 

“There are several policies being revised, one of which involves setting a minimum limit of US$100 per unit of goods traded on marketplaces by foreign merchants,” said Karim, as reported by Katadata. 

He added that the Ministry of Law and Human Rights will harmonize the new policies in August, after which both ministries will schedule the implementation.

As can be observed, social commerce and cross-border commerce are big concerns in Indonesia since TikTok established Project S in the UK, posing a threat to MSMEs in Southeast Asia. TikTok has emphasized, however, that neither Project S nor cross-border eCommerce are now available in Indonesia.

Source: Compilation

Please subscribe to SECOMM to receive weekly eCommerce news!
SECOMM has collected numerous useful experiences in helping businesses construct and grow excellent eCommerce websites after many years of implementing eCommerce for various businesses in many countries.
Contact or call SECOMM’s hotline (02871089908) today for eCommerce consultation!

Let’s take a look at some notable eCommerce news this week with SECOMM!

Vietnam: More than 76,000 sellers say goodbye to the eCommerce marketplace

According to Metric data, the number of sellers on eCommerce marketplace declined dramatically in the first six months of 2023.

In particular, the number of sellers on the eCommerce marketplace declined by 18% in the first six months of 2023, resulting in 76,030. Despite a drop in the number of sellers, overall income on four marketplaces (Shopee, Lazada, Tiki, and Sendo) climbed by 22.5% over the same time in 2022 (TikTok Shop wasn’t launched in the first half of 2022). When TikTok Shop income is included, this ratio rises to 46%, with a total value of 92,745 billion VND and more than 907 million things sold.

As can be observed, competition among sellers on online marketplaces is severe, and the standards for product and service quality will be greater than before. As a result, developing your own e-commerce website is an unavoidable trend for Vietnamese firms looking to maintain revenue in the face of global economic changes and the advent of new buyer habits.

TikTok Shop implemented “Buy now, Pay later” to boost Malaysia eCommerce

TikTok Shop has signed a deal with buy now, pay later firm Atome in Malaysia that will allow consumers to defer payment for their purchases over three or six months. 

“By integrating Atome as a payment option on TikTok Shop, we’re excited to help drive ecommerce growth and support brands of all sizes,” William Yang, head of commercial at Atome said in a statement. 

Atome is operated by Singapore-based Advance Intelligence Group, which raised US$80 million from Warburg Pincus and Northstar Group. 

Atome has stated its intention to exit the Vietnam market due to inefficient company procedures. However, TikTok CEO Shou Zi Chew stated that despite the difficulties in approaching the US market, TikTok would continue to invest billions of dollars in Southeast Asia in the next few years.

Amazon to launch pay-by-palm technology at all Whole Foods stores by year-end

Amazon Global Selling today introduced the ‘Amazon Global Selling Singapore Cross-border Brand Launchpad’ program, in collaboration with Enterprise Singapore (EnterpriseSG) and Singapore Business Federation (SBF), to equip local entrepreneurs with cross-border eCommerce skills and help them access burgeoning opportunities of this sector and build a long-term global business. The program will help over 100 local Singapore micro, small and medium enterprises (MSMEs) to launch and scale their brands through Global Selling in the next two years and help at least 300 Singapore companies to equip them with knowledge sets of cross-border e-commerce through a long-term knowledge collaboration.

“Cross-border e-commerce is becoming increasingly crucial for the success of MSMEs. To fuel their long-term growth, we recognize the significance of local collaborations and local support,” said Anand Palit, Head of Amazon Global Selling, Southeast Asia.

Amazon Global Selling launches its first cross-border eCommerce brand in Singapore

Amazon Global Selling today introduced the ‘Amazon Global Selling Singapore Cross-border Brand Launchpad’ program, in collaboration with Enterprise Singapore (EnterpriseSG) and Singapore Business Federation (SBF), to equip local entrepreneurs with cross-border eCommerce skills and help them access burgeoning opportunities of this sector and build a long-term global business. The program will help over 100 local Singapore micro, small and medium enterprises (MSMEs) to launch and scale their brands through Global Selling in the next two years and help at least 300 Singapore companies to equip them with knowledge sets of cross-border e-commerce through a long-term knowledge collaboration.

“Cross-border e-commerce is becoming increasingly crucial for the success of MSMEs. To fuel their long-term growth, we recognize the significance of local collaborations and local support,” said Anand Palit, Head of Amazon Global Selling, Southeast Asia.

Source: Compilation

Please subscribe to SECOMM to receive weekly eCommerce news!
SECOMM has collected numerous useful experiences in helping businesses construct and grow excellent eCommerce websites after many years of implementing eCommerce for various businesses in many countries.
Contact or call SECOMM’s hotline (02871089908) today for eCommerce consultation!

Let’s take a look at some notable eCommerce news this week with SECOMM!

CEO and founder of TIKI resigns!?

According to DealstreetAsia, Mr. Tran Ngoc Thai Son, CEO of Tiki, has submitted his resignation letter to the company’s board of directors. Mr. Son is also a founder member of this eCommerce platform, which was established in 2010 with the goal of selling English books online.

According to Tech In Asia, Tiki’s loss in 2022 is estimated at about 100 million USD and the company can operate for another 3 years before needing more capital. This makes the IPO may have to wait until 2024 or into 2025.

Tiki’s overall revenue declined by 7% in 2022, but total expenditures climbed by 4% during the same year, resulting in a 39% loss compared to 2021.

Tiki accounted for just 6% of the entire transaction value of eCommerce goods in 2022, compared to 63% for Shopee, 23% for Lazada, and 4% for TikTok Shop and Sendo. 

The occurrence of founders being forced to leave their positions as directors in their companies is not new, such as Zhang Yiming (founder of ByteDance – TikTok), Tan Hooi Ling (founder of Grab), Kevin Aluwi (founder of Gojek), Philip Kuai Jiaqi (founder of JD.com), Dada Nexus & Colin Huang Zheng (founder of Pinduoduo),  etc.

Therefore, the fact that Mr. Tran Ngoc Thai Son left the position of CEO is not necessarily a concern.

Apple launches online store on China’s giant WeChat

Apple launched an online store on Tencent’s WeChat messaging app in China, as the iPhone giant steps up the expansion of its retail channels in one of its most important markets. 

Apple’s WeChat store is in the form of a Mini Program. Users can purchase the full line of Apple products including the latest iPhone 14 range through the Mini Program, Tencent said in a statement. Orders via WeChat are eligible for free shipping, and some users can pay for three-hour delivery. Tencent said that customers can also access some other Apple services, like the trade-in program. 

Apple tightly controls its retail channels, but has been ramping up its presence on China’s biggest internet platforms over the past few years. Apple has an official store on Tmall, the eCommerce site operated by Alibaba . Meanwhile, JD.com , China’s second-largest online retailer, is an official reseller of Apple products. IPhone sales have remained quite resilient in China in spite of a tough market overall. Smartphone sales fell 5% year-on-year in the first quarter of 2023, reaching the lowest first-quarter sales figure since 2014, according to Counterpoint Research. Apple’s iPhone sales grew 6% year-on-year, Counterpoint said. Still Apple is looking to reach more customers. 

Alibaba’s Freshippo debuts largest supply chain center in Shanghai

10 July 2023 – Freshippo, Alibaba Group’s digital intelligence-powered new retail company, has officially launched its supply chain center in Shanghai. The center, located in Pudong New Area of Shanghai, took 3 years to build. It is a comprehensive supply center that integrates the processing of agricultural products, research and development into ready-to-eat food, the cold storage of semi-finished food, a centralized kitchen, and cold chain logistics distribution. As the fresh supply hub for Freshippo in Shanghai, the center not only supports over a hundred of Freshippo Supermarkets, Freshippo X Clubs and other retail store formats in Shanghai, but also covers the whole east China region, including areas such as Nanjing, Suzhou, Hangzhou and Hefei. 

The center leverages automated equipment such as automated guided vehicles (AGV), robotic arms and cross-belt sorters. AGVs use QR code and inertial navigation technologies, which allow them to be deployed on the cloud server during the product sorting process. Based on intelligent algorithms, the vehicles can follow the optimal path and work together to transport unpacked goods. Through this process, the center can sort more than 2.8 million items per day. 

Since its establishment, Freshippo has vigorously developed its fresh logistics supply chain and built a backbone logistics network, putting its seven supply chain centers in northwest, southwest, central and east China into production one after another. Freshippo is devoted to building a large-scale fresh multi-temperature layer logistics system to better serve consumers nationwide.

Amazon and eBay lose UK shoppers to Shein and Temu

According to market research agency GWS, Amazon has seen a million daily mobile shoppers disappear since the beginning of this year, eBay even almost two million. Meanwhile, Shein and Temu are storming the download lists.

Fast-fashion seller Shein saw the number of users double in recent months from one to two million. Meanwhile, Temu managed to attract 3.5 million users per day one month after the British introduction.

Moreover, the newcomer manages to fascinate users the longest, according to the figures from GWS: on average, shoppers spend no less than 18 minutes per day in the app.

Recommerce platform Vinted occupies the second place in this ranking, with 14 minutes of attention. On Amazon, eBay and Shein, shoppers spend an average of 8 minutes per day in the app.

Shein has been targeting Europe since last summer. In May this year, the Chinese company opened its European headquarters in Dublin. In that same month Temu, owned by PDD Holdings from China, also opened an office in the Irish capital. Temu only became active in Europe for the first time this spring.

Please subscribe to SECOMM to receive weekly eCommerce news!
SECOMM has collected numerous useful experiences in helping businesses construct and grow excellent eCommerce websites after many years of implementing eCommerce for various businesses in many countries.
Contact or call SECOMM’s hotline (02871089908) today for eCommerce consultation!

Let’s take a look at some notable eCommerce news this week with SECOMM!

Mystery developer becomes Alibaba’s new CEO

Alibaba has recently completed the most significant leadership transition in its 24-year history. There are relatively few internet signs that disclose the name and personality of Eddie Wu, the recently appointed CEO of Alibaba.

Eddie Wu Yongming’s choice as CEO to succeed Mr. Daniel Zhang startled many, despite the fact that the 48-year-old computer expert worked alongside Jack Ma in the early days of Alibaba’s development. Employees said they had to explore the intranet and research public documents to learn about their new boss.

Wu seemed to be straddling two worlds: a senior coder and a venture investor who now runs a business called VC valued 10 billion yuan ($1.4 billion) with a portfolio consisting of companies in cutting-edge fields like self-driving vehicles and IoT. This characteristic of Mr. Wu has dominated Alibaba in recent years, when it has faced competition in various fields, including AI, cloud computing services, and video entertainment.

Wu’s selection as CEO of Alibaba was not without foreshadowing. Wu was named president of Core Taobao-Tmall Marketplaces; Director of international commerce and local services of Alibaba in March, when former Alibaba chairman Daniel Zhang launched the reorganization and division of Alibaba. Together with Joseph Tsai, Alibaba’s new chairman, Wu will continue a transformation that might be critical to Alibaba’s long-term success.

Luxembourg ranks as top 1 cross-border country in EU

The data comes from the latest Top 16 online cross-border EU countries, which is published yearly by Cross-Border Europe. In this study, Luxembourg ranks as the top cross-border country because of its large market share (80 percent). Additionally, the consumer cross-border confidence level is very high (86 percent).

It also has a large number of cross-border web visitors. According to the report, consumers actively engage in cross-border shopping on platforms like Zalando, Asos, Veepee, FNAC and Amazon.

While the ranking takes online cross-border turnover into account, the market share weighs heavier. For example, the United Kingdom has the highest cross-border turnover with 28 billion euros. However, the market share is substantially lower than the other countries, with 17 percent.

The Netherlands takes the last position in the ranking. Its cross-border market share is 15.2 percent. This amounts to 5 billion euros. This means that Dutch consumers do not buy goods from cross-border online stores that often. This can be attributed to the presence of strong local stores, like Bol.com, Coolblue, Wehkamp and AH. When Dutch consumers do decide to shop cross-border, they often turn to Zalando.

Top 16 online cross-border EU countries in 2022 

1. Luxembourg 
2. Ireland 
3. Austria 
4. Sweden 
5. Norway
6. Switzerland
7. Germany
8. Denmark
9. Portugal
10. Belgium
11. Italy
12. Finland
13. Spain
14. France
15. United Kingdom
16. The Netherlands

TikTok opens its first physical store in London

TikTok Shop UK is opening the doors to its first ever bricks and mortar store on the world famous Oxford Street in London, to showcase the breadth of brands and creators selling on the platform in a real world context. This store is not open to the public, but will be open to existing and prospective merchants and creators to visit from 30th June to 6th July with a particular focus on the tech, home & living and book product categories.

TikTok is the home to a new kind of shopping culture: ‘community commerce’, a unique blend of community, entertainment and shopping. Hashtags like #TikTokMadeMeBuyIt has reached over 60 billion views, making TikTok a destination for people to discover the biggest trending products across beauty, fashion, food, tech and more.

Asia Pacific dominates list of top 50 mobile app publishers in 2022

Asia-Pacific companies dominated Data.ai‘s list of the top 50 publishers based on revenue, taking up 27 slots. Tencent was the leader for the sixth year in a row, while ByteDance climbed five spots to second place thanks to TikTok. Other publishers from the region that performed well in 2022 included NetEase, Baidu, and Bandai Namco.

The only firm hailing from Southeast Asia is Sea Limited, which houses Garena – the game developer behind Free Fire – and ecommerce major Shopee, at the 27th spot. This placed the Singapore tech conglomerate ahead of companies like Amazon, Microsoft, and Konami.

The list does not consider revenue earned from in-app advertising, commerce, or payments outside the Android and iOS app stores.

Most of the top publishers in 2022 also used a mix of one-time purchases and recurring subscriptions to monetize their apps. Out of the top 50 publishers, 42 relied on in-app purchases more than subscriptions.

Please subscribe to SECOMM to receive weekly eCommerce news!
SECOMM has collected numerous useful experiences in helping businesses construct and grow excellent eCommerce websites after many years of implementing eCommerce for various businesses in many countries.
Contact or call SECOMM’s hotline (02871089908) today for eCommerce consultation!