What big and small things happened in the field of going abroad in the latest week (November 11-17)?
Overseas News
TikTok continues to expand its business in the United States
On November 14th, foreign media reported that despite facing a potential US ban, TikTok's recent two trademark applications indicate that it is still striving to expand its business in the US market, including advertising and payment businesses, surpassing traditional social media functions. One of the trademark applications involves an application called "TikTok Go" that supports "catering, retail, tourism, and other online and offline businesses"; Another trademark application involves a service called TikTok PayLater, aimed at following the buy now pay later trend.
2. The baby crib fence sold on Temu platform has been urgently recalled
Recently, the US Consumer Product Safety Commission (CPSC) announced the recall of Baofali's baby crib fences sold in Temu due to the risk of suffocation. It is understood that the product being recalled this time is Baofali four in one ultra-fine fiber baby crib safety fence, with models JJ25B-A1 and JJ25B-A. It is reported that the product is priced between $25 and $30 on the Temu platform.
3. Institution: The sales of the "Four Little Dragons" during the holiday season may reach 21% globally
On November 14th, international market research firm Salesforce predicted that during this holiday season, the purchasing volume of Chinese e-commerce platforms such as Temu, Shein, AliExpress, and TikTok is expected to reach one-fifth (21%) of global e-commerce revenue (excluding China), about 160 billion US dollars.
In November, Chinese sellers accounted for 20% of Amazon's best-selling list
Recently, Amazon released its TOP100 seller ranking for November. On the US website, among the top 100 sellers, 17 are from mainland China and 2 are from Hong Kong, China. Chinese sellers account for nearly one-fifth, second only to the United States in terms of quantity. In August, AnkerDirect, a store under Anker Innovation, ranked second in the top 100 brand stores on Amazon's US website, second only to Pattern, a multi brand distributor store in the United States.
Industry Frontiers
5. Shenzhen strives to achieve an average annual growth rate of 25% in cross-border e-commerce air freight business volume
On November 11th, the Shenzhen Transportation Bureau released the "Work Measures for Promoting the High Quality Development of Modern Logistics Industry (2024-2026)". In terms of optimizing the international logistics clearance environment, Shenzhen proposed to promote cross-border e-commerce enterprises to settle in airports and strive for an average annual growth rate of 25% in cross-border e-commerce air freight business volume; Continuously carry out the 'Sea Airport Smooth Flow Plan' to achieve rapid land clearance of sea ports, airports, and airports.
6. General Administration of Customs: Fujian Province's cross-border e-commerce exports exceeded 140 billion yuan from January to October
On November 14th, data from the Customs Cross border E-commerce Management Platform showed that from January to October this year, the scale of cross-border e-commerce export transactions in Fujian Province reached 145.66 billion yuan, a year-on-year increase of 35.3%, and the export value ranked among the top four in the country. Among them, Fujian's cross-border e-commerce exports to countries jointly building the "the Belt and Road" reached 79.69 billion yuan, up 71.1% year on year, accounting for 54.7% of Fujian's total cross-border e-commerce exports in the same period.
7. The global e-commerce logistics market is expected to grow significantly in size
Technavio recently predicted that the global e-commerce logistics market is expected to grow by $802.3 billion between 2024 and 2028, with a compound annual growth rate of 28.2%. The main factors driving this growth are the increase in cross-border e-commerce activities and the rising trend of small distribution centers in supermarkets. Among the main participants in the market are Chinese companies such as SF Express and Sinotrans.
Company Information
8. Dingdong Maicai has started its overseas journey, with the first stop being Saudi Arabia
On November 13th, according to market information, Dingdong Maicai has officially launched its overseas expansion, with the first stop selected as Saudi Arabia in the Middle East, and is currently recruiting a localization team; An insider from Dingdong Maicai stated that Dingdong Maicai's overseas model mainly sells pre made dishes to local customers, as well as fresh, refrigerated, and department store categories. Subsequently, the person in charge of Dingdong Maicai responded to the public that the relevant business is still in the initial exploration stage and there is currently no further information disclosed.
9. TikTok Shop's US site achieved GMV of 793 million US dollars in October
On November 14th, it was reported that the total merchandise transaction volume (GMV) of TikTok Shop in the United States reached a historical high of 793 million US dollars in October, with a month on month growth rate of 14.6%. Among them, beauty and personal care, women's clothing and underwear, and health categories remain at the forefront, accounting for 39.29% of the total GMV. In addition, the top ten categories all achieved at least 10.3% growth, with fashion accessories and collectibles showing particularly prominent growth trends.
10. Amazon's low-priced store is officially launched
On November 12th, the Amazon low-priced store "Haul" was officially launched. The first batch of open products covers 15 major categories including clothing, jewelry, home furnishings, beauty, electronics, etc., with the vast majority of products priced at $10 or even $7 or less. The project adopts an invitation based investment method, and orders will be fulfilled and delivered by Amazon's warehouses operated in China. Sellers only need to be responsible for sending the goods to Amazon's domestic warehouses.
11. Shopee terminates cooperation with Kerry Logistics subsidiary
On November 14th, Shopee announced that Kerry Express (KEX) will terminate its partnership with the platform and cease providing standard delivery services starting from November 2024. This change is based on adjustments to the commercial cooperation between the two parties. Sellers will no longer be able to select Kerry Express as a logistics option through the Shopee platform, nor will they be able to deliver goods at Kerry Express sites. It is reported that Kerry Express, an indirect non wholly owned subsidiary of Kerry Logistics, is currently one of the largest express delivery companies in Thailand.
12. China Southern Airlines Logistics has 18 overseas express delivery stations
On November 14th, China Southern Airlines Logistics announced that many overseas countries and regions have joined the domestic e-commerce platform's free shipping area this year, resulting in a breakthrough in cross-border e-commerce cargo volume. During the Double Eleven period, the export guarantee of China Southern Airlines logistics at Guangzhou Port increased by over 10% year-on-year. At present, the total number of overseas express delivery stations of China Southern Airlines Logistics has reached 18, and the express service rights have been expanded to mainstream cities such as Europe, America, Australia and New Zealand, Japan and South Korea, Southeast Asia, and Africa.
13. China Post opens the "Yancheng Seoul" all cargo international route
On November 13th, China Post Airlines announced the official opening of the "Yancheng Seoul" international cargo route, operating B737-800F all cargo aircraft with four flights per week on 1/3/5/6, and plans to increase to six flights per week in the future. The main cargo transported will be cross-border e-commerce and local manufacturing enterprise goods. The newly opened "Yancheng Seoul" all cargo international route is the first "Postal Assistance for Overseas Chinese" route.
14. Huolala Announces to Enter Türkiye Market
On November 14, it was reported that Gollala officially launched its operations in Istanbul, Türkiye, marking its first step into Europe, the Middle East and Africa. At present, Huolala has provided services in Asia, Latin America, and 13 markets.
15. Anjun Logistics will build Brazil's first bonded overseas warehouse
On November 12th, it was reported that Yu Keqiang, Director of Strategic Development Department of Anjun Logistics, recently signed a strategic cooperation agreement on behalf of Anjun Company with RIO BRASIL TERMINAL, a port operation company in Rio de Janeiro, Brazil. The two sides plan to create Brazil's first bonded overseas warehouse at the Rio port terminal, providing sea freight stocking logistics services for cross-border online shopping trade in Brazil. In recent years, AliExpress and Xiyin Group have also increased their investments in Brazil.
16. Dunhuang Online "Conveniently Buy One Order 2.0"
On November 14th, the cross-border e-commerce and foreign trade trading platform Dunhuang announced that through data comparison, the platform found that the "Buy One Order" function effectively converted new customers to the store. At present, the platform hopes to expand the group of buyers and merchants for "Buy One Order" and launch "Buy One Order 2.0", allowing more high-quality products and merchants to join "Buy One Order", bringing a better purchasing experience to platform customers.
Capital dynamics
17. SF Holding's listing hearing on the Hong Kong Stock Exchange
On November 11th, the Hong Kong Stock Exchange announced that SF Holdings had passed the listing hearing and released a post hearing data set. On November 6th, according to sources cited by IFR, the IPO fundraising may drop to about $1 billion to $1.5 billion, a decrease from the $2 billion reported last month.
18. Sai's third quarter revenue increased by 30.8% year-on-year
On November 13th, Shopee's parent company Sea announced that its third quarter revenue increased by 30.8% to $4.33 billion, exceeding analysts' expectations of $4.08 billion. Among them, e-commerce revenue increased by 42.6%, reaching 3.18 billion US dollars, exceeding expectations. This quarter, Shopee achieved positive adjusted EBITDA in both Asia and Brazil. The Chairman and CEO of Sea stated that Shopee is expected to achieve a 25% year-on-year growth in GMV for the full year.
19. China's pedestrian robot industry raised more than 5 billion yuan in the first 10 months
According to recent incomplete statistics from the GGII Institute of Robotics Industry, there were a total of 69 financing events in the global humanoid robot industry from January to October 2024, with a total announced financing amount equivalent to over 11 billion yuan. Among them, 56 incidents occurred in the humanoid robot industry in China, with a total amount exceeding 5 billion yuan. It is predicted that by 2024, the market size of humanoid robots in China will reach 2.158 billion yuan, and by 2030 it will approach 38 billion yuan, with an average annual compound growth rate of over 61%.