TikTok Shop will open sites in Mexico and Spain to tap into the Spanish-speaking market

TikTok Shop has been conducting a small test of its full closed-loop store business in Mexico since the end of April, and plans to officially open its Mexico site as soon as June.

At present, the business is still in the private testing stage, focusing on local delivery, local entities and local legal persons, mainly for the annual income of more than 100,000 US dollars of local e-commerce platform sellers, but temporarily does not cover maternal and child, food and health care categories.

Meanwhile, TikTok Shop also plans to open a new site in Spain on July 1. The Spanish site will continue to have a local + fully hosted merchant presence model, and invitations have been sent to large sellers on other platforms. In order to support live delivery, TikTok will set up local sample rooms and live broadcast rooms in Spain.

It is worth noting that the Mexico and Spain teams are managed by the same person in charge, and the future plan is to make a tape video to serve users in both markets by opening up the Spanish market.

Recently, the global data and business intelligence platform Statista cited the latest data from the ECDB website shows that SHEIN ranks as the third largest online fashion retailer in the United States,

only after Amazon and Walmart, and ahead of traditional retail giants Macy's and Nike. SHEIN is the only Chinese company among the top five online fashion retailers in the United States.

5, eBay launched a new product research function, sellers can query sales data

According to foreign media reports, eBay has launched a new Product Research feature (Product Research) to provide sellers with up to 3 years of eBay product sales data. It is understood that the feature will only be available for items sold 90 days or earlier.

The data includes the actual selling price of the item, the average selling price, the selling price range, the percentage of sales with free and average shipping, and the number of sellers who have sold the relevant product. With the new feature, sellers can view and compare information on items sold over the past three years to guide them in listing new items and pricing them.

6.Amazon updated its return fees

On May 10, Amazon said that starting June 1, 2024, it will impose a return processing fee on all categories (except apparel and footwear) with a high return rate of items, in order to address return operating costs and reduce waste. This fee applies to items with a return rate above a specific threshold for each category.

Starting in June, sellers will have to pay a processing fee ranging from $1.78 to $2.21 for returned items of small standard sizes that exceed the threshold. For large standard size returned items that exceed the threshold, the price is $2.36 to $5 and above; Prices for large and oversized items have risen further.

7.Lazada upgrades its logistics pricing system Global Plus

On May 10, Lazada, Alibaba's Southeast Asian e-commerce platform, officially launched a new logistics pricing system, Global Plus, open to cross-border merchants. After joining Global Plus, merchants only need to submit the "price without mail" of the product,

and the Global Plus system will automatically calculate the final price of the product after subsidies according to the subsidized price card. Global Plus can enhance the competitiveness of the product market through subsidies, and effectively help merchants to grow sales in overseas markets.

According to Lazada's public data, through the optimization of various logistics arteries, the logistics cost of merchants joining Global Plus can be reduced by up to 78%, improving the competitiveness of goods in the Southeast Asian market while not affecting the gross profit of merchants.Us media: American consumers are increasingly worried about the direction of the economy

Us consumers are increasingly worried about the direction of the economy as inflation remains stubbornly high and interest rates may last longer than initially expected.

The latest consumer confidence survey released by the University of Michigan on the 3rd showed that the overall confidence index fell 13% in May. The index came in at 67.4, the lowest level in six months and well below economists' expectations of 76.2.

The survey said inflation was expected to hit 3.5 per cent in the coming year, up from 3.2 per cent last month. Long-term inflation expectations rose to 3.1 per cent from 3 per cent last month.

Joanne Hsu, director of the survey, said in a statement: "While consumers have reserved judgment over the past few months, they now see negative developments on many fronts. They expressed concern that inflation, unemployment and interest rates could all move in an unfavorable direction over the next year."

The decline in consumer sentiment follows months of data showing that inflation is not on as smooth a path down as many economists had hoped. The core personal consumption expenditures (PCE) index grew at an annualized rate of 4.4 percent in the first three months of the year, well above the Fed's 2 percent target and reversing a sharp slowdown in inflation through the end of 2023.