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Google pushes Agentic Commerce forward with a standard protocol
Google has introduced a new open standard called the Universal Commerce Protocol (UPC). Its goal is to accelerate the AI-platform shift in commerce by standardizing processes such as product search and checkout via AI bots. Platforms and retailers including Walmart, Etsy, Shopify, Shopee, Carrefour, Target, Macy’s, Wayfair, and Zalando were involved in its development, as they seek to secure their position within the customer journey. However, it remains unclear whether Google’s clout will be sufficient – and whether other major players such as Amazon, Meta, Alibaba, ByteDance, or OpenAI will support this protocol initiative. More on Google (UCP), Profashionals (marketplaces) and Exciting Commerce (major players).
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Instagram is the leading social commerce platform in Germany
Three in ten German consumers shop via social media. Instagram is used the most: 15 % of Germans buy directly on the platform or via redirects to online shops. Facebook follows with 14 % and YouTube with 11 %. Among 16- to 29-year-olds, TikTok is the third social commerce platform, with an adoption rate of 20 %, according to Bitkom. Read more on Ecommercenews
Shein: Faltering start in brick-and-mortar retail in Paris
Shein’s presence at the BHV Marais department store in Paris has caused major controversy but appears to have generated little revenue. Despite high footfall, sales are reportedly sluggish, partly due to a weaker assortment and smaller discounts than online. As a result, Shein has postponed further in-store rollouts in French department stores. At the same time, an appeals court decision on a potential ban of Shein in France is scheduled for February 5. More on Chip (failure) and FashionUnited (court decision).
Temu’s explosive growth
Around a quarter of all cross-border orders now go to Temu – the same share as Amazon. Back in 2022, Temu’s share was just 1%, according to an IPC study. Together, Amazon and Temu account for nearly half of all cross-border sales. Shein, AliExpress, eBay, and Zalando together make up another quarter. Find out more at Ecommercenews
eBay makes international shipping easier for German sellers
eBay has launched eBay SpeedPAK in Germany, a service that offers sellers a customs-cleared shipping, with import duties already paid. From February 12th onward, new selling fees will also apply on eBay Germany. Read more on Ecommercenews (SpeedPAK) and eBay (fees)
Rumored News
OpenAI eyes Pinterest
Since early January, rumors have repeatedly surfaced that OpenAI is considering the acquisition of Pinterest. If this were to happen, the implications would be significant: OpenAI would gain direct access to hundreds of millions of user-generated content items – highly valuable for AI training. And data is the decisive competitive factor in the AI race. The question Malte Karstan therefore raises is less “why Pinterest?” and more “who’s next?” More on LinkedIn
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