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Dong Jingyi, a reporter from 21st Century Business Herald, reports from Shanghai

What developments have occurred in the cross-border e-commerce industry in the past week (July 15-21)?

Industry Overview

Maersk: Red Sea hostilities have affected the company's entire shipping network

Maersk said on July 17 local time that the disruption to its container shipping business caused by hostilities in the Red Sea has expanded and its entire shipping network is currently affected. Maersk CEO Kevin Klein said that all of the company's ships that can sail and all previously underutilized ships have now been redeployed to try to fill the capacity gap, but this is still unlikely to meet demand in the coming months.

In the first half of the year, a total of 17,687 new energy vehicles were exported, a year-on-year increase of 13.2%.

According to the latest statistics from the China Association of Automobile Manufacturers, 605,000 new energy vehicles were exported from January to June, a year-on-year increase of 13.2%. Among them, Nezha Automobile exported a total of 17,687 new energy vehicles from January to June, a year-on-year increase of 154%, ranking first among new car manufacturers and fifth in new energy exports.

Sales volume of construction machinery industry recovers, and overseas sales become an important growth point

On July 17, the latest data of the "Excavator Index" jointly released by Sany Heavy Industry and Shugen Internet showed that the operation rate of my country's construction machinery equipment showed signs of recovery. The sales volume of construction machinery products represented by excavators has achieved positive growth for three consecutive months. Among them, going overseas has become a new important growth point for the construction machinery industry.

Zhongtai Securities: China's export share will continue to remain resilient in the second half of the year

Zhongtai Securities Research Report pointed out that since the beginning of this year, China's external demand has continued to be stronger than domestic demand, and exports are the most important support for China's current economy. However, judging from leading indicators such as the May PMI new export order index and the year-on-year growth in export delivery value, there is pressure for marginal slowdown in exports. Driven by overseas inventory replenishment, international organizations such as the WTO predict that global merchandise trade volume will increase in 2024, and China's export pressure mainly comes from the decline in its share from a high level. Looking ahead to the second half of 2024, China's export share will continue to remain resilient.

Company News

Amazon's Prime Day sales hit a record high of $14.2 billion in the U.S.

According to a report from Adobe Analytics, Amazon's two-day Prime Day event saw online sales in the U.S. increase 11% to a record $14.2 billion. Amazon said this year's Prime Day event had record sales, with more items sold in two days than in previous years. Adobe said this year's sales were driven by back-to-school shopping, with two-day Prime Day-related spending increasing 216% compared to daily sales levels in June 2024.

Third-party sellers around the world sold more than 200 million items during Prime Day

On July 18, Amazon announced that during the two-day event of Prime Membership Day 2024, Amazon sold more products than in previous years, making this year's Prime Membership Day the largest in Amazon's history. Among them, third-party sellers around the world also performed well during the event. Including Chinese sellers, global third-party sellers, mainly small and medium-sized enterprises, sold more than 200 million items. This year is also the Amazon Prime Membership Day with the most promotions for small and medium-sized enterprises.

Meituan Takeaway may be officially launched in Riyadh in September or October

It is reported that Meituan Waimai is developing rapidly in Riyadh. The company has recruited many staff members locally and has contacted several international catering operators. The partners under negotiation also include many local restaurants. At the same time, it has reached cooperation with many local rider companies. Against this background, Meituan Waimai may be officially launched in Riyadh in September or October.

Temu France has a 96% repeat customer rate in the past 90 days

Temu France has a high rate of returning customers in the past 90 days, with a high user stickiness of 96%. At the same time, Temu consumers are very active online, spending an average of 2,500 euros per year, while the market average is 1,800, nearly 40% higher than the market average. In addition, Temu's customer base is evenly distributed in terms of gender, and is favored by Generation X and baby boomers, demonstrating its market penetration across age groups.

Temu starts selling branded mobile phones in many countries

According to reports, since June, Temu has started selling branded smartphones in the United States, the United Kingdom, France and other countries and regions. Most branded mobile phones support local overseas shipments, and the platform expects delivery within 8 working days. The branded mobile phones currently sold on the platform are mainly Xiaomi and Samsung. People familiar with these changes said that the branded mobile phones sold are mostly semi-managed products, and the source of goods is mostly inventory models of overseas dealers of various mobile phone brands. Some of the goods are also tail goods exported by Chinese dealers. The platform will subsidize the merchant's supply price to achieve a more advantageous price than competitors.

Alibaba International announces AI progress: implemented in more than 40 e-commerce scenarios, serving 500,000 merchants

On July 16, at an AI-themed sharing session at Alibaba International, Zhang Kaifu, vice president of Alibaba International Digital Business Group and head of AI business, revealed that in the current e-commerce field, cross-border merchants' demand for AI is surging. Data from Alibaba International shows that on average, merchants' AI calls double every two months. In the past year, Alibaba International has established an AI team, tested AI capabilities in more than 40 scenarios, empowered 500,000 small and medium-sized merchants, and optimized 100 million products.

Taobao launches "Global Free Shipping Plan for Large Clothing Products"

It is reported that Taobao has launched the "Global Free Shipping Plan for Large Clothing" overseas project. Taobao Clothing will provide high postage subsidies and free shipping directly to overseas consumers. Merchants have independent pricing and goods rights, and do not need to open another store or consider cross-border logistics. After receiving the order, they only need to send the goods to the domestic shipping warehouse, and the goods will be confirmed upon arrival at the warehouse, with 0 returns, 0 refunds, and 0 freight insurance.

Ant Group and BNP Paribas partner on cross-border payment business

Douglas Feagin, President of Ant International, and Pierre Fersztand, Global Head of Cash Management, Payments, Trade Solutions and Factoring at BNP Paribas, signed a Memorandum of Understanding (MoU) in Zurich on July 3, 2024. The two parties agreed to develop a number of important plans, and BNP Paribas will cooperate with Ant International on digital payments and other businesses. BNP Paribas will cooperate with "Alipay+" operated by Ant Financial to allow merchants in Europe using BNP Paribas' acquiring services to accept payments through "Alipay+".

Pop Mart’s 100th overseas store opens in Jakarta

On July 19, Pop Mart's first store in Indonesia officially opened in Jakarta. In September 2020, Pop Mart's first overseas store landed in Seoul, South Korea. The first store in Indonesia is Pop Mart's 100th store overseas and in Hong Kong, Macao and Taiwan, and is also an important milestone in Pop Mart's overseas business.

Three Sheep's US branch plans to open in September this year

Lu Wenqing, founder of Three Sheep Group, said in a live broadcast recently that the Three Sheep US branch plans to open in Los Angeles, USA in September this year. In January 2024, Three Sheep officially launched TikTok's overseas sales layout, choosing Singapore as the first stop and cooperating with local Singaporean influencers for live broadcasts. Currently, Three Sheep has opened up markets in many countries including Thailand, Malaysia and Singapore. The Hong Kong company is also in preparation and will open soon.

Cross-border big seller Tongtuo Technology officially merged into Huakai Yibai

Recently, Huakai Yibai Technology Co., Ltd. officially completed the acquisition of Shenzhen Tongtuo Technology Co., Ltd., with a transaction amount of up to RMB 700 million. It is reported that Tongtuo Technology was established in 2004 and is headquartered in Shenzhen. The company's main business is B2C, supplemented by small B2B. It provides products to foreign C-end consumers through third-party platforms such as Amazon, Walmart, AliExpress, as well as self-built platforms and independent stations.