Shein has presented its annual figures for Europe: according to these, the platform recorded a whopping 68% increase in 2023. The Ireland-registered European entity of Shein has reaches a turnover of 7.684 billion Euros, profit after tax has more than doubled to 99.5 million Euro.
What does the marketplace landscape look like in Central and Eastern Europe? Allegro, Heureka, eMAG and Skroutz are strong generalists in the CEE markets. In addition, there are other important players in each country.
The EU has launched formal proceedings against Temu. The EU commission has voiced concerns that Temu is failing to efficiently prevent the sale of illegal or counterfeit products on its platform. Suspended products have been re-appearing on Temu within days of their removal, the comission criticizes.
Amazon has outlined the requirements for its upcoming ‘Low-Cost Store’ in the U.S. The store – Amazon’s answer to Temu – will sell unbranded low-priced items directly from warehouses in China. It is an invite-only marketplace without seller fulfillment. All products must be listed under the brand name ‘Generic’ and meet fixed maximum price points (e.g. necklaces below $10). Special needs products like Baby, Kids and Pets, are not allowed.
Breaking News Amazon is allegedly building a huge brick-and-mortar shopping mall that is supposed to open in the second half of 2025, US e-commerce analyse Brittain Ladd reported. According to his sources, Amazon has been toying with the idea for several years; now it’s finally coming to life – though he doesn’t seem to have information on the location of this new “supercenter” for Amazon. Brittain Ladd More News For their tenth anniversary, Backmarket presented some figures on their business: 15 million customers and 1.800 retailers are using the marketplace, generating nearly 30 million orders worth 2.157 billion euros in 2023. In Germany alone, Backmarket generated a GMV of 300-350 million euro last year, and is aiming for 400 million in 2024. Channelpartner Amazon will change its rules for FBA reimbursment in the European markets from January 15th 2025. Sellers will get an automatical reimbursement for lost items. At the same time the claims window for that will be reduced from 18 months down to 60 days. As the automatic reimbursment system is not foolproof, sellers will have to stay on their toes, ChannelX warns. ChannelX Tik Tok Shop is launching a new service which connects Content Creators who want to sell their own products with fitting manufacturers. The goal: more exclusive products for Tik Tok Shop. Business insider Zalando has launched “Cultural Ties”, a interactive map to streatwear scenes all over Europe. The data basis is Zalando’s very own “Trend Spotter” tool, which assembles the most relevant styles and products in several European fashion capitals. Zalando curious News Fox Intelligence has attempted to estimate the e-commerce market share of marketplaces in the biggest EU markets based on traffic figures. According to their study, marketplaces account for 45-46 percent of online sales in Austria and Italy, for 40-45 per cent in Spain, Germany and the UK, and for 30-32 per cent in the Netherlands and France. A note of caution: The Fox Intelligence estimates are considerably lower than those of several local statistic authorities. LinkedIn Don’t want to miss any news? Subscribe to our weekly newsletter!
Mytheresa has signed a deal to acquire its larger, but insolvent rival Yoox Net-a-porter for 555 million euros. The two platforms will remain separate on the front end side, but work together closely behind the scenes. Together, Mytheresa und YNAP generate a GMV of 3 billion euros.
Christina Schröder left edding and Arvid Gustafsson Krumhorn left AbouYou. MediaMarktSaturn has a new CEO Marketplace. A lot has happened in the marketplace worls in August. Keep up with all Movers & Shakers here!
Breaking News 12 months after its start in the U.S. market, TikTok Shop hat reached an estimated 9-month-GMV of about 4.5 billion USD. This is significantly lower than its original plan to reach 17.5. billion USD in its first full year. According to a research by Marketplace Pulse, this is mostly due to the fact that now major brands are using the platform up to now. Marketpulse More News Second Hand goliath Vinted has opened Vinted Pro in the UK, now professional British businesses can register on the marketplace as sellers. Vinted Pro has already been launched below the radar in Germany and France earlier this year. ChannelX Bol.com is building up Retail Media: the Dutch marketplace has announced “Branded Shelves”, a new campaign format for brands focused on the consideration stage, Jochem Timmers from Channable reported from Bol’s “Let’s Peak” event. LinkedIn Allegro has launched a hungarian platform, Allegro.hu. The marketplace is also already open, but demands slightly different requirements for sellers than allegro.pl. Allegro Happy News ebay Germany has honored six of its best selling partners with the ebay Awards. The jury (which Ingrid is a proud part of) had its work cut out picking the winners from hundreds of high-class applications. Congratulations to all worthy winners! eBay Don’t want to miss any news? Subscribe to our weekly newsletter!
Products of Western sports and fashion brands such as Adidas, Puma, Ray Ban, Nike or Guess have appeared on the marketplace of Shein. Some of the affected brands have already announced legal steps.
Otto has lost over 1.100 seller partners on its marketplace since April 2024, the German business newspaper “Handelsblatt” reports. Nearly 700 sellers were fired from the marketplace by Otto, round about 500 sellers have left the platform on their own account due to frustration over raised fees, technical problems and high return rates.
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