Marketplace Talk: August ecommerce news 2024

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Ready to catch up on August ecommerce news? We’ve got you covered!

🛍️ Amazon announces Prime Big deals days return for October 2024

Amazon has confirmed the return of its Prime Big Deal Days in October 2024. Designed to kick off the holiday season, this sale will feature exclusive deals for Prime members across 19 countries.

By leveraging these seasonal sales, Amazon continues to drive record-breaking ecommerce numbers, solidifying its position as the dominant marketplace. This latest move emphasizes Amazon’s strategic focus on maximizing engagement through well-timed shopping events.

"Amazon is strategically leveraging its seasonal sales events like Prime Big Deal Days to capture early holiday shoppers and drive record-breaking ecommerce sales. These well-timed events are not just about deals—they are key moments that help Amazon deepen its engagement with Prime members while solidifying its dominance in the global marketplace."

Jordi Vermeer, VP of Revenue North America

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📌 MediaMarkt's marketplace sales double as Ceconomy posts strong growth

Ceconomy, the parent company of MediaMarkt and Saturn, reported strong third-quarter results, with online sales up nearly 10%. MediaMarkt's marketplace played a significant role, doubling its trading volume compared to the previous year.

The company’s marketplace strategy, which has expanded across several European markets, is on track to achieve its goal of €750 million in GMV by 2026.

Alongside marketplace success, Ceconomy saw profitability improvements and reported its highest-ever Net Promoter Score (NPS). CEO Karsten Wildberger credits the growth to factors like retail media and the boost in TV sales from the European Football Championship.

📈 Dutch online sales set for 8% growth amidst retail shifts

Online sales in the Netherlands are expected to increase by 8% in 2024, driven by pure online sellers who are outpacing multichannel retailers. This growth comes as total retail revenue is predicted to rise by just 2%, with supermarket sales declining due to a tobacco ban.

Despite inflation and rising costs leading to a spike in bankruptcies, the shift to online shopping remains strong as Dutch consumers continue to favor the convenience of ecommerce.

"The expected 8% growth in Dutch online sales this year highlights the enduring strength of ecommerce, even as the broader retail sector faces challenges. Pure online sellers are proving resilient, outpacing multichannel retailers and capitalizing on consumer preferences for convenience. Despite economic pressures, the Dutch market's shift towards online channels shows no signs of slowing, making ecommerce a critical area for continued retail success."

Dex van Hofwegen, Director of Sales EMEA

📲 TikTok Shop to raise UK seller fees as it pushes live commerce

TikTok Shop will increase its UK seller fees from 5% to 9% starting September 2, 2024, as part of its efforts to build the "marketplace of the future."

To help sellers mitigate these higher fees, TikTok is launching a "seller missions" program, which allows sellers to reduce their fees by creating a target number of live or shoppable videos.

Additionally, TikTok plans to launch a co-funded free shipping model to boost order conversions. The platform aims to incentivize content creation and collaboration with influencers, further enhancing its live commerce focus.

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🤖 Zalando invests in AI and records double-digit B2B expansion

Zalando continued to see strong growth in its sports, designer, and beauty categories during Q2 2024, contributing to a 2.8% rise in gross merchandise volume (GMV) to €3.8 billion. With revenue up 3.4% and profitability improving, Zalando’s strategy of expanding its lifestyle offerings and focusing on AI-powered inspiration tools is paying off.

The company is also making significant investments in generative AI, collaborating with OpenAI to enhance its fashion recommendations and customer experiences. Furthermore, Zalando’s B2B segment, powered by its ZEOS platform, grew by 10.3%, showcasing the company’s dual focus on Business-to-Consumer (B2C) and Business-to-Business (B2B) as key growth drivers.

"Zalando’s impressive Q2 growth showcases its ability to innovate in both consumer and business markets. By investing in AI and enhancing its digital infrastructure, Zalando is positioning itself as a key player in the evolving ecommerce ecosystem, ensuring long-term success in a highly competitive landscape."

Niels Floors, VP of Strategic Development

📈 Turkey increases customs taxes to curb cross-border ecommerce

Turkey has introduced higher customs taxes to limit the impact of foreign online stores on its domestic market. Import duties on European goods will rise to 30%, with non-EU duties doubling to 60%.

Additionally, the exemption threshold will drop from €150 to €30, making more foreign purchases subject to taxation. These measures aim to protect local ecommerce businesses from growing competition abroad and to encourage domestic online spending, reflecting a broader trend toward economic protectionism in global ecommerce.

📦 eBay enhances flexibility with new cancellation policy

eBay is rolling out a new cancellation policy that gives buyers more flexibility to cancel orders, provided the seller hasn’t marked them as shipped. Starting August 28, customers will have the ability to cancel purchases at any time before shipping. This change is expected to improve customer satisfaction, with tests showing only a minimal increase in cancellation requests, from 0.9 to 1.1 per 100 transactions.

Sellers are encouraged to accommodate these requests, as doing so has been shown to improve customer loyalty and reduce return requests. eBay will also protect sellers by removing negative or neutral feedback on declined cancellation requests.

🆕 Temu declares European marketplace open

Temu is expanding into Europe, inviting local merchants to join its platform. Sellers can manage their inventory and shipping while benefiting from Temu's growing customer base.

The marketplace is offering an introductory period with no fees or commissions to attract new sellers. Temu has quickly gained popularity across Europe, particularly in Germany, and is looking to strengthen its presence by providing European sellers with an opportunity to tap into the competitive ecommerce market.