Marketplace Talk - June 2024

Ana Scarabelli
26 Juni 2024
Ready to catch up with June's ecommerce news? We’ve got you covered!
Marketplace Talk June 2024

🌎 Cross-border shopping surge: 52% of UK and US consumers shop overseas

A recent study by Nosto reveals that 52.5% of UK and US consumers have made cross-border online purchases in the past year, with fashion items leading the charge.

Among the 2,000 respondents surveyed, younger shoppers are the most active in international ecommerce, with 67.47% of 35-44 year-olds and 64% of 25-34 year-olds participating. Fashion and accessories dominate cross-border shopping, comprising 70.2% of overseas purchases, followed by sporting goods and hobbies at 57.3%.

Rising domestic prices have prompted 53.4% of consumers to seek more affordable options overseas. However, quality concerns arise when prices are too low, with 65.7% of shoppers wary of placing orders. This price sensitivity highlights the importance of balancing cost and quality in cross-border ecommerce.

"When selling internationally, brands need to ensure that buyers trust them. Providing clear details about returns and taxes is crucial for building that trust. It helps reassure customers who shop across borders that they'll have a smooth experience, from making purchases to handling any issues that might arise.”

Ecommerce Berlin Expo 2024 DexDex van Hofwegen,
Director of Sales EMEA at ChannelEngineChannelEngine-Logo-Horizontal-Default

Here are some free resources to help you conquer these markets: 
📖 From the UK to the EU: A comprehensive guide for ecommerce success
📖 The US marketplace strategy guide


📈 Turkey's ecommerce boom: Inflation fuels doubling of online spending

Turkey's ecommerce spending skyrocketed in 2023, doubling to 1.85 trillion Turkish liras (approximately 53 billion euros) due to inflation and significant autonomous growth, reports the Ministry of Commerce. Despite a 115% increase in spending, the number of transactions provides a clearer growth picture, rising by 22.3% to 5.87 billion units, highlighting robust market expansion compared to stagnant growth in Western Europe.

The Ministry of Commerce anticipates an 84% growth in ecommerce spending this year, driven by 6.67 billion transactions, surpassing European growth forecasts. Currently, 559,412 companies engage in ecommerce in Turkey, with the leading product categories being white goods, household appliances, electronics, and clothing.

"The Middle East represents an unparalleled opportunity for brands aiming to expand, with its ecommerce market outpacing global growth rates and a high internet penetration. Urban centers in countries like the UAE, Turkey, and KSA are ripe for digital sales, offering brands a gateway to tap into affluent and tech-savvy consumer bases.”

Niels Floors-channelengineNiels Floors,
VP of Strategic Development at ChannelEngineChannelEngine-Logo-Horizontal-Default

📖 Unlocking the Middle Eastern ecommerce market: Your blueprint for success


🆕 Tesco launches new marketplace with thousands of third-party products

Tesco has unveiled an online marketplace, integrating around 9,000 third-party products into and the Tesco app. This move aims to make Tesco a comprehensive one-stop shop, offering items in categories such as garden, DIY, homeware, toys, and pet care alongside groceries.

"We were looking at customer searches on our websites and we found things that we just don’t carry in Tesco [stores] or online, and so that prompted a stream of thinking around what we could do to open up that range, to give customers what they’re looking for because they were genuinely looking for all sorts of things.”

Peter Filcek,
Marketplace Director at Tesco

The marketplace, launched on June 4, allows products to be fulfilled directly by suppliers, expanding Tesco's range to meet customer demand for items not traditionally available in their stores. This strategic expansion enables Tesco to better fulfill customer needs.

With 17 vetted sellers, including brands like Tefal and Silentnight, the marketplace ensures high standards for delivery speed, returns, and customer satisfaction. Customers pay separately for third-party items, with delivery fees waived for orders over £50 from the same seller or for Anytime Delivery Saver customers.

🤝 Target partners with Shopify to enhance third-party marketplace


Target has partnered with Shopify to expand its third-party marketplace, Target Plus, by adding new and trendy brands. This collaboration aims to drive online traffic and sales growth, addressing Target’s recent struggles with declining comparable sales and modest digital sales growth. Shopify-affiliated companies can now apply to join Target Plus, offering a wider range of products and boosting Target’s online assortment.

Target’s Chief Guest Experience Officer, Cara Sylvester, highlighted that this partnership will help Target quickly discover and feature hot items on its website, potentially bringing some to physical store shelves.

The move is expected to increase website visits and sales for both marketplace sellers and Target’s own brands. Despite lagging behind competitors like Amazon and Walmart in marketplace revenue and seller numbers, Target Plus has seen significant growth, doubling its seller and product count over the past year.

Read more about Target Plus here.


💵 Chinese ecommerce growth during 618 shopping festival

China's 618 shopping festival saw a 13.6% year-on-year increase in gross merchandise value (GMV) across major ecommerce platforms, according to Analysys.

This growth was led by newer ecommerce players such as ByteDance's Douyin, which experienced a 26.2% surge in GMV, and Pinduoduo and Kuaishou, which saw increases of 17.7% and 16.1%, respectively. In contrast, traditional giants Alibaba and reported GMV growths of 12% and 5.7%.

Despite intense price competition potentially squeezing profit margins, the robust online sales outpaced offline retail growth, reflecting a strong consumer shift towards online shopping.

"Online shopping is picking up speed, especially during events like China's 618 shopping festival, where ecommerce platforms saw big growth. Even with lots of competition online, this boost in online sales beating offline growth shows more people like shopping digitally.”

EmielEmiel Tindemans,
Director of Partnerships APAC at ChannelEngineChannelEngine-Logo-Horizontal-Default

🛍️ New measures on de minimis rules for ecommerce companies in the US


U.S. Customs and Border Protection (CBP) announced new actions to curb the exploitation of de minimis rules for small-value ecommerce orders. These rules, under Section 321 of the U.S. Tariff Act of 1930, allow imports valued up to $800 per person per day without formal customs declarations. This threshold, raised from $200 in 2016, enables shipments to avoid certain import duties and taxes, and has been scrutinized for potential misuse by large-volume shippers like Shein and Temu.

The U.S. House Select Committee on the Chinese Communist Party has investigated these practices, noting that Shein and Temu may account for a significant portion of de minimis imports. With Shein valued at $66 billion in May 2023 and Temu rapidly growing since its 2022 launch, the CBP's enhanced enforcement could impact their U.S. operations. 

CBP has already suspended several customs brokers from its Entry Type 86 Test for compliance risks, demanding remedial action plans before reinstatement. These measures reflect growing Congressional interest in modifying de minimis rules to better suit today's ecommerce landscape.

Published on 26 Juni 2024
Ana Scarabelli
Ana Clara Scarabelli is a Social Media Specialist at ChannelEngine. Ana is passionate about communication, branding, and marketing. She has a background in Journalism, coupled with content marketing experience.
Ana Scarabelli