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TikTok Hot News
1. TikTok Beauty Influences 71% of Users' Purchases
The popularity of TikTok has changed trends in the beauty industry. Research shows that 71% of beauty users say TikTok directly influences their choice of beauty products, and a quarter have purchased beauty products they saw on TikTok, with most of these purchases being spontaneous.
2. TikTok UK Site Raises Seller Commission
Starting September 2, TikTok Shop plans to raise the base commission rate for UK sellers from the current 5% to 9%. To ease the impact of the commission increase, the platform has also launched the "Seller Task" program, encouraging sellers to reduce fees by completing a certain number of livestreams or shoppable video creations.
3. TikTok Southeast Asia Adjusts New Store Assessment Threshold
Starting August 9, 2024, TikTok Southeast Asia cross-border will adjust its new store assessment period policy. The policy focuses on two main directions: increasing support for high-quality merchants and strengthening restrictions on low-quality merchants. The daily order limit for high-quality merchants will increase from 100 orders to 500 orders, providing greater sales space for outstanding merchants; the daily order limit for growing merchants will increase from 60 orders to 100 orders, encouraging development towards high quality.
Image source: TikTok
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Amazon Hot News
1. 77% of Amazon US Searches Are Non-Branded
Latest data shows that in June, 77% of searches on Amazon US were non-branded, but the proportion of branded searches is increasing. In June 2024, 22.9% of searches on Amazon US included brand names, up from 22.6% in the same period last year, with even greater increases in popular categories.
2. Amazon Trials Automatic Seller Listing Modification
Amazon is running a new program using AI features to generate richer product information. If sellers do not take action before the deadline, Amazon's system will default to making changes and automatically publish them after the feedback deadline. However, sellers can still control the published changes.
3. Amazon Launches Labor Day Promotion on August 26
Amazon plans to hold a "Labor Day Promotion" from August 26 to September 3, 2024, using limited-time offers to increase product exposure and sales. Sellers can visit the advertising page, use the "Deal" feature to create new promotions, select eligible ASINs, set the time, and configure offer details before submitting to participate.
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Other E-commerce Platform News
1. Ozon Q2 2024 Turnover Up 70%
Russian e-commerce platform Ozon delivered impressive results in Q2 2024, with total revenue of 122.5 billion rubles, up 30% year-on-year; turnover reached 633.2 billion rubles, up 70% year-on-year; fintech revenue surged 206%. The number of active users increased 74% year-on-year, order frequency rose 40%, and e-commerce GMV grew 60%.
2. Temu Provides EU and UK Authorized Representatives for European Products
Some sellers have received email notifications from TEMU stating that starting August 15, all electronic product packaging sold on European sites must include information for a UK Authorized Representative and an EU Authorized Representative, or risk being removed from the European and UK markets.
3. PayPal Q2 Net Revenue Reaches $7.9 Billion
Payment giant PayPal announced its Q2 2024 results. As of June 30, PayPal's net revenue for the second quarter was $7.9 billion, up 8% year-on-year. PayPal's CEO stated that Q2 and the first half of 2024 saw the best profit margin growth since 2021.
Image source: Ozon
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Policy Changes in Other Countries
1. Bangladesh Government Lifts Social Media Platform Restrictions
The Bangladesh government has recently lifted restrictions on social media platforms such as Facebook, TikTok, and WhatsApp, which is a major benefit for e-commerce entrepreneurs. The State Minister held meetings with representatives of these platforms to discuss lifting restrictions to promote e-commerce, trade, and student learning development.
2. Thailand's Three Major E-commerce Platforms Raise Transaction Fees
Thai media reports that Shopee, Lazada, and TikTok are expected to continue raising transaction fees to increase revenue. CREA experts told partners that Thailand's e-commerce market rates are expected to rise further, narrowing the fee gap between Southeast Asia and the US and Chinese markets.
3. Thailand's Pet Food Market Expected to Reach $3.35 Billion by 2029
In 2024, Thailand's pet food market size is estimated at $2 billion and is expected to reach $3.35 billion by 2029, with a compound annual growth rate of 10.87% during the forecast period (2024-2029). The market is mainly focused on dogs and cats, is fragmented, and the top five companies account for 26.45% of the market.
Image source: Mordor Intelligence
The above is a summary by TuKe of hot news related to TikTok, Amazon, and other overseas marketing topics. We hope it helps everyone with their overseas marketing efforts.
