On the bustling streets of Bangkok, TikTok Shop’s Singles’ Day shopping campaign is hard to miss, as large LED screens flash promotions in endless loops. Promotions have been infiltrating people’s lives in other ways, as well. On the ride-hailing app Grab, TikTok Shop’s Double 11 logo appears prominently on the map interface. A promotional blitz … Read more
China is home to US e-commerce giant Amazon.com’s four biggest merchant bases, according to new research, showing the significant role that the world’s second-largest economy continues to play in the global supply chain despite geopolitical tensions. Shenzhen, a technology and factory hub in China’s southern Guangdong province, leads the pack with 102,588 sellers registered on … Read more
A WOMAN was terrified to discover South America’s deadliest scorpion running along her skirting boards at home. Payge Aitchison spotted the Brazilian yellow scorpion in her hallway in Wokingham, Berkshire, but has no idea how it got there. 4 The Brazilian yellow scorpion is South America’s most deadly scorpionCredit: SWNS 4 Payge Aitchison discovered the … Read more
Chinese-founded fast-fashion giant Shein saw profits plunge over 70 per cent in the first half of 2024 due to fierce competition from rivals such as PDD Holdings’ Temu, according to a report by The Information. Revenue growth of the Singapore-registered company slowed to 23 per cent during the period, down from 40 per cent for … Read more
TikTok owner ByteDance has been losing momentum in 2024, with slower revenue growth and narrower profit margins for the first three quarters compared with last year, according to local media. Revenue growth “significantly” slowed for the first nine months of the year, while profit margins slimmed for the first time since 2022, Chinese tech media … Read more
Temu’s website in Vietnam, however, showed that the company’s foray into one of the fastest-growing economies in the region was apparently rushed. It currently supports only English as well as transactions made via credit card and Google Pay, while excluding leading Vietnamese mobile payment service Momo. In affluent Brunei, Temu is available in both English … Read more
As PayPal expands in China, the American digital payments platform expects local merchants selling abroad to see cross-border e-commerce continue to grow despite mounting geopolitical and regulatory challenges. “We are seeing meaningful interest from [Chinese] merchants as they are seeking to expand to go both to Europe as well as the US, and we feel … Read more
“Alibaba may gradually become more attractive to some long-only funds because it is, after all, the largest e-commerce stock in China,” said Shawn Yang, senior analyst at Arete Research. “The expectations of macro improvement may be passed on to these consumer stocks. Alibaba is the largest among them, and its situation is improving.” Alibaba, owner … Read more
The job cuts by online fast-fashion retailer Shein at its Singapore headquarters reflect how the Chinese-founded company is grappling with a series of challenges in the cross-border e-commerce business. Shein has laid off 17 employees as a result of restructuring of its global information technology research and development centre, the company said on Thursday. It … Read more
Lazada’s key advantage in Southeast Asia amid rising competition from new entrants such as PDD Holdings’ Temu and ByteDance’s TikTok lies in technology such as artificial intelligence (AI) and logistics, Lazada Thailand CEO Varitha Kiatpinyochai said on Friday. “With Lazada being part of the Alibaba Group, we can really leverage the best-in-class technology and ecosystem … Read more
