GoodsFox Daily News June 13, 2024
1.Mercado Libre Launches Eco-Friendly Product Series
2.Temu's Repeat Customer Attraction Surpasses eBay
3.eBay Launches Official Website eBaymag
4.South Africa to Significantly Increase Procurement Taxes on Temu and Shein
5.TikTok plans to invest $2.1 billion in Malaysia
1.Mercado Libre Launches Eco-Friendly Product Series
Mercado Libre has recently introduced a brand-new series of eco-friendly products to meet the growing environmental demands of consumers. Over 1600 eco-friendly items can be found on Mercado Libre, spanning various sectors such as fashion, healthy food, beauty, and personal care. Notably, bamboo toothbrushes, cloth shopping bags, and diapers are the most popular.
2.Temu's Repeat Customer Attraction Surpasses eBay
According to financial reports, within two years of entering the U.S. market, Temu has attracted more repeat customers than eBay, which has been around for nearly 30 years. A survey conducted in April targeting 1,000 consumers revealed that 34% of respondents stated they shop on Temu at least once a month, surpassing eBay's 29%.
3.eBay Launches Official Website eBaymag To better assist sellers in utilizing the platform, eBay has recently launched the official website eBaymag, which helps sellers efficiently expand their business across multiple sites. The website offers a range of features including inventory synchronization, logistics configuration, category matching, and currency exchange across eBay's various sites. The official site supports multiple languages.
4.South Africa to Significantly Increase Procurement Taxes on Temu and Shein The South African government has recently introduced new regulations. Due to accusations from locals and stakeholders that Shein and Temu exploit tax loopholes to import goods at low prices, starting from July 1, 2024, the South African government will impose a 45% import duty and a 15% value-added tax on foreign e-commerce clothing retailers such as Shein and Temu to protect the interests of local retailers and ensure a fair competitive environment.
5.TikTok plans to invest $2.1 billion in Malaysia
Recently, Malaysia's Minister of Investment, Trade and Industry Tunku Zafrul Abdul Aziz (Zafrul Abdul Aziz) said that with TikTok Global Vice President Hlina through communication and consultation, TikTok parent company byte jumping is ready to invest $ 2.13 billion (about RM 10 billion) in Malaysia, plans to build an artificial intelligence center, to fully catch up with the AI wave.
