Amazon: Leading the global e-commerce market
Amazon’s global market share revealed: Recent data from ecommerceBD reveals that Amazon’s US site leads with a staggering 52% share of the company’s global Gross Merchandise Volume (GMV), totaling $693 billion. This is followed by Japan and the UK, each holding about 9%. Together, the top five sites, including Germany and Canada, account for 82% of Amazon’s total GMV.
Installment payments boost high-value sales: Amazon has introduced an installment payment feature for items priced over $50, with options ranging up to 24 installments for products over $500. This move, similar to the installment plans offered on platforms like Taobao, is expected to spur sales for higher-priced items and is generally favorable for sellers.
Emerging competitors: Temu challenges traditional retail
Temu’s rapid rise in the US market: According to Earnest Analytics, Temu now holds 17% of the US discount retail market, outpacing Five Below’s 8% but trailing behind Dollar General’s 43% and Dollar Tree’s 28%. Temu’s growth is attributed to its aggressive low-price strategies, posing a significant threat to traditional dollar stores.
Walmart: Innovating in social e-commerce
Walmart’s ‘Add to Heart’ campaign integrates shopping with entertainment: Walmart has launched a romantic comedy ad series, “Add to Heart,” featuring products from its holiday wish list. This strategy signifies Walmart’s push into social e-commerce, aligning with a trend that sees 43.4% of American consumers shopping via social media platforms like YouTube, Instagram, and TikTok. The US social e-commerce market is projected to grow from $67 billion in 2023 to $101 billion by 2025.
