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Wayfair is pulling out of the German market. The German online shop has already closed, and Wayfair marketplace sales partners can no longer reach their contacts. The Berlin office is also being closed, costing all employees there their jobs – unless they move to London or Boston, which Wayfair is offering about half of the workforce.
2024 - an exciting year for the entire marketplace industry draws to a close. Time to look at the greatest news - from ABOUT YOU to Zalando, from Amazon to Temu and many more
New year, new costs: Amazon has published the fees that merchants will have to pay for marketplace sales, storage and shipping in 2025. In addition to the prices, existing structures in individual segments have also been significantly revised.
Zalando, Europe’s largest online fashion retailer, has announced its acquisition of competitor About You, marking a major shakeup in the European fashion e-commerce and marketplace industry. The deal, valued at 1.13 billion Euro, includes a purchase price of 6.50 Euro per About You share - a 107% premium on the stock’s three-month average price.
Black Week 2024 broke records across all platforms, with the fashion and beauty sectors being the top performers. 60% of purchases occurred on marketplaces, with Amazon leading at 85% of users. TikTok Shop generated $100 million in sales in the US and a 179% jump in sales in the UK, while OTTO had its best Black Friday yet.
The Platform Group (TPG) acquired 100 per cent of CHRONEXT, a German retailer and marketplace for luxury watches which filed for insolvency in August.
How could a AI-powered marketplace look like? Perplexity might give as a glimpse of the future. The AI service has introduced a shopping assistant last week, which can help you with complex, multi-step shopping requests. The AI finds answers to shopping prompts like "Find the comfiest headphones" by looking through the assortment of connected Shopify shops. So far, the Perplexity shopping experience…
Amazon shuts down Amazon Fresh in Germany and cooperates with Knuspr instead. Meanwhile, Temu starts selling FMCG products in its U.S. app,
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.
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.