This is our regularly weekly news about ecommerce market,here are the most noticeable events happening this week !
01 TikTok, Tokopedia could announce Indonesian e-commerce deal soon
Source:NIKKEI Asia
Talks between ByteDance, the Chinese owner of the popular short video app TikTok, and Tokopedia, the e-commerce division of the Indonesian tech giant GoTo, for a partnership and investment are in the final stages, DealStreetAsia has learned.
A deal may be announced as soon as this week or the next.
There is a possibility that TikTok will pick a small stake in Tokopedia and gradually increase it to a majority stake, according to multiple people familiar with the matter. "Initially, ByteDance wanted a 10% stake in Tokopedia, but GoTo has been pushing them [ByteDance] to take over 50% and let them run the e-commerce part of the business," said a source aware of the development.
02 PayPal shares slide after Amazon drops Venmo as payment option
Source:CNBC
Amazon notified users late Wednesday it will soon stop accepting Venmo as a payment method.
The company said it will no longer let users pay using Venmo beginning Jan. 10, according to a notice sent out to Amazon customers. Amazon will still accept Venmo debit and credit cards, the notice states. Venmo announced the move in a separate notice posted to its website.
“Due to recent changes, Venmo can no longer be added as a payment method,” the company said. “Venmo will remain available to users who currently have it enabled in their Amazon wallet until 01/10/24.”
Shares of PayPal, which owns Venmo, closed down 1.7% on Thursday.
03 Cambodia, Vietnam launch cross-border QR code payment
Source:tuoitrenews
The National Bank of Cambodia (NBC) and the State Bank of Vietnam on 3nd Dec launched the cross-border QR code payment linkage in a boost to business and tourism in both countries .
The launching ceremony was held in Siem Reap in the presence of Chea Serey, Governor of NBC, Nguyen Thi Hong, Governor of the State Bank of Vietnam and representatives of various partner banks.
The launch marked yet another milestone for NBC and the State Bank of Vietnam in the areas of financial innovations, payment systems and cross-border QR payment linkages, the NBC said.
It enables people of both countries to make safe, secure, convenient and affordable cross-border payments using their local currencies.
“The launching of the cross-border payment system between Cambodia and Vietnam is expected to benefit tourists and merchants,” NBC said.
With this, NBC’s Bakong payment system is currently used for making cross-border transactions with Thailand, Laos, and Vietnam.
04 Amazon Slashes Seller Fees on Cheap Apparel
Source:the information
Amazon said Tuesday that it plans to slash the commissions it takes on sales of apparel items under $20. The move coincides with mounting competition from discount online clothing retailers like Shein and Temu.
Amazon currently takes a 17% cut of all apparel sales that outside sellers make through its website, but will reduce that commission to 5% on items priced lower than $15 and 10% for items between $15 and $20 beginning on January 15. Amazon isn’t changing the commissions it charges for other kinds of items.
Amazon announced the change in apparel fees as part of a broader overhaul of its seller fee structure. The company is also lowering the fees it charges sellers for fulfillment while adding new inbound fees that are intended to encourage sellers to send items to multiple warehouses located closer to Amazon customers. Additionally, Amazon is adding a new returns processing fee for most items with high return rates", part of a broader effort at the company to cut down on costs associated with returns.
05 PDD surges on Q3 beat as Temu keeps wooing consumers
Source: seekingalpha
PDD (NASDAQ:PDD) stock rose about 14% in pre-market trading on Tuesday after third-quarter results beat estimates.
Meanwhile, several Chinese stocks were trading in the red during pre-market. E-commerce giant Alibaba (BABA), online retailer JD.com (JD), online entertainment services provider Bilibili (BILI) were all down around 1%, internet search giant Baidu (BIDU) was also in the red.
PDD's growth has exceeded Chinese peers including Alibaba (BABA) underlining how the company has used promotions to attract bargain-searching customers at a time of global economic uncertainty.
In the past six months, PDD's shares have surged about 74%, while Chinese peers such as Alibaba's (BABA) stock has dipped about 1% and JD.com nearly -11% in this period.
Temu — which follows the same strategy of cut-rate pricing used by rival Shein and PDD's domestic app Pinduoduo — has extended operations into several countries. Sales on the site first surpassed Shein's in May in the U.S., beating its competitor by about 20%, as per Bloomberg Second Measure, which analyzes consumers' card transactions.
Conclusion
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