In addition, most of the shipping slots for May are already booked, and sea routes are only available from late May to early June.
2, the United States plans to launch a 337 investigation on Insta360, Shadowstone Technology responded positively
The U.S. International Trade Commission (ITC) recently voted to initiate a Section 337 investigation into Certain Cameras, Camera Systems, and Accessories Used Therewith (investigation code: 337-TA-1400).
The investigation was prompted by the US camera manufacturer GoPro's filing of a 337 petition with the International Trade Commission (ITC) on March 29, alleging that the cameras, systems and accessories of the Chinese company Shenzhen Shadowstone Innovation Technology Co., LTD. (Insta360) infringed its patent rights.
Insta360 has publicly stated that it plans to resolve the matter through court proceedings and has expressed confidence that it will prevail.
Emerging market dynamics
- The Saudi card payment market will reach $147 billion by 2024
According to a report by GlobalData, the Saudi card payment market is expected to grow by 7.6 percent to reach 550.5 billion riyals ($146.8 billion) by 2024. The card payment market is expected to grow at a CAGR of 6.4% from 2024 to 2028, reaching 705.2 billion riyals by 2028. In terms of card preference, debit cards dominate, accounting for 85% of the total value of card payments in 2023, according to the report.
2, the Philippines strengthened PS/ICC logo review
In order to protect the legitimate rights and interests of consumers, the Philippine Department of Trade and Industry (DTI) has recently increased its supervision of e-commerce platforms, launching a round of strict review actions for product compliance.
It is particularly important that all products sold online must clearly display the PS/ICC logo on the image description page, otherwise they will face removal. It is reported that some products have recently been removed from the platform for not displaying the PS/ICC logo as required.
3.Indonesian e-commerce is expected to grow by 15.5% to 661.9 trillion rupiah in 2024
The Indonesian e-commerce market is growing rapidly and is expected to grow by 15.5% to reach IDR 661.9 trillion in 2024. This is mainly due to the shift in consumers' shopping preferences from offline to online,
as well as the increase in Internet and smartphone penetration. Digital infrastructure and logistics advances are driving the increase in e-commerce activity in second - and third-tier cities. In addition, the Indonesian e-commerce market is expected to grow at a compound annual growth rate of 12.4% during the period 2024-2028.
Platform dynamic overview
- Shopee opens a new logistics center
Southeast Asian e-commerce giant Shopee has announced the opening of a new logistics center in Tocantins, Brazil. The new facility will operate on a last-mile model, aiming to optimize the North-South logistics network connectivity on the Goiania - Belem axis in Brazil for more efficient parcel delivery services.
The new logistics center in Tocantins will be Shopee's second logistics facility in northern Brazil.
Rafael Flores, Shopee's head of logistics expansion, said in a report that with the logistics infrastructure in place, "we hope to further boost the local economy and create jobs and opportunities for our partners."
2.Temu opens OBM entry channel for clothing merchants
According to feedback from merchants, Temu, a cross-border e-commerce platform under Pinduoduo, officially launched the Original Brand Manufacturer Channel (OBM channel), which is a way for brand owners to use their own sales network and marketing strategies to promote and sell their self-produced brand products.
As a new business supply model, OBM channel for domestic single store annual sales of more than or equal to 1 million yuan brand merchants, has been open to men's wear, sports outdoor men's wear, maternity wear three categories of investment.
In addition, merchants must publish more than 50 product SKUs, and the old main store and its sub-stores are not eligible for OBM policy benefits.
