What fresh news has recently happened in the TikTok and cross-border e-commerce markets? Next, Tuke will take you for a quick look!

——TikTok News

1. TikTok expands its African footprint, choosing Kenya for a new office! Recently, TikTok’s CEO announced in an online meeting with Kenya that, following South Africa, TikTok will set up its second African office in Kenya. Kenya, as a key hub for mobile internet and social media, boasts as many as 63.94 million mobile internet users and 10.55 million active social media users. This move marks TikTok’s further expansion and deepening in the global market.

2. TikTok leads Gen Z’s new shopping trends. The latest report points out that in the Asia-Pacific region, Gen Z is drawing a lot of fashion inspiration from idols and influencers, a trend largely driven by TikTok. Survey data shows that Gen Z considers social commerce (63%) and live commerce (57%) as the most critical components of their shopping experience. This indicates that TikTok is not only a content sharing platform, but also an important force shaping the shopping habits of the younger generation.

3. TikTok Shop helps new merchants set sail! To help newly settled US merchants successfully overcome the challenges of the initial startup period, TikTok Shop has launched a brand new “New Merchant Sailing Plan.” This plan provides three core benefits: First, the official knowledge base will share a series of content to help merchants master the methods of successful operation; second, a special incentive policy will reward merchants for promoting coupons by completing tasks, increasing exposure and sales; additionally, an exclusive community will provide merchants with comprehensive online and offline operational guidance and training, ensuring that merchants can find their place in the TikTok market.

——National Policy Trends

1. Brazil’s new policy: 20% import tax on parcels under $50! Recently, the President of Brazil signed Decree MF-2024/1086, stipulating that from August 1, Brazilian citizens purchasing goods under $50 on cross-border e-commerce platforms in their personal capacity will need to pay a 20% import tax. Notably, for medicines, the tax-free limit remains at $10,000.

2. New changes in the US cosmetics market! Starting July 1, 2024, the US will implement new cosmetics regulations, requiring all cosmetics exported to the US to complete FDA registration before customs clearance and sales. This news has attracted widespread attention in the cross-border e-commerce circle. However, for companies that meet certain conditions, the new rules provide exemption policies, allowing these companies to sell products without FDA registration.

——Trends of Overseas E-commerce Platforms

1. Amazon UK sellers file a collective lawsuit claiming $3.4 billion. According to foreign media reports, Amazon is facing a major collective lawsuit in the UK involving more than 200,000 UK sellers. These sellers are jointly claiming more than £2.7 billion (about $3.4 billion), alleging that Amazon abused its dominant position in providing marketplace services, harming fair competition between third-party sellers and UK consumers.

2. Temu platform faces pressure to comply with EU regulations! Recently, the EU issued a Requests for Information notice to the Temu platform, requiring Temu to detail how it complies with the obligations of the Digital Services Act. If Temu fails to respond as required, it will face fines and must submit a risk report by the end of September. This action stems from complaints by the European Consumer Organization (BEUC), and based on this, the EU is considering initiating legal proceedings.

3. Amazon sellers face the challenge of soaring US shipping rates! Recently, US shipping rates have continued to rise for 12 consecutive weeks, with prices breaking through the key psychological threshold of $10,000. The global shipping market is affected by various factors, including tensions in the Red Sea and severe congestion at European and American ports, which are the main reasons driving the continued rise in shipping rates. Faced with rising costs, Amazon sellers have said that their profits are shrinking. Although the market expects freight rates to stabilize, the possibility of a decline currently seems unlikely. This is undoubtedly a severe challenge for e-commerce sellers who rely on sea freight.

Amazon faces a $3.4 billion collective claim from UK sellers. Image source: world.parhlo

The above is the latest content sharing related to TikTok and the cross-border e-commerce market. What do you think about this?