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Douyin鈥檚 gross merchandise volume (GMV) grew by 46% year over year (YoY) in the 12 months ended July 2024, according to Wei Wenwen, the short-video platform鈥檚 president of ecommerce. Pinduoduo parent PDD Holdings grew revenues by 86% YoY in Q2, although a considerable portion of that growth likely came from Temu鈥檚 breakneck overseas expansion.

While the Biden administration鈥檚 rule wouldn鈥檛 eliminate de minimis entirely, it could drive up costs and lead companies like Temu, Shein, and even Amazon to adjust their strategies. Recognizing the threat of such an action, Temu laid the groundwork for a strategic pivot by building up a significant seller base in the US: Products shipped from US warehouses now account for about 20% of Temu鈥檚 US GMV.

In the long term, PDD aims for Temu to directly compete with Amazon and eBay. And, in the short term, it wants it to surpass Shein鈥檚 gross merchandise volume (GMV) for at least one day by the time of its one-year anniversary on September 1, per Bloomberg. It is off to a good start. Temu generated nearly $200 million in sales in January alone, even before its buzzy Super Bowl ad aired.

The platform鈥檚 popularity with Gen Z shoppers, investments in live shopping, and well-timed promotional events that coincided with Amazon鈥檚 July and October Prime sales put TikTok on the path to achieve its ambitious target of $17.5 billion in US GMV.

TikTok Shop aims to generate as much as $17.5 billion in US GMV this year, which is 10 times what it pulled in last year, per Bloomberg. That massive growth is particularly notable given that TikTok鈥檚 goal in 2023 was to reach $20 billion in GMV worldwide鈥攎ost of which was expected to come from markets outside the US. That strong growth is convincing TikTok it can drive more revenues from sellers.

Here鈥檚 how ad buyers ranked the retail media networks of 14 leading CPG-focused retailers鈥攊ncluding Ahold Delhaize, Albertsons, Amazon, Costco Wholesale, CVS, Instacart, Kroger, Target, and Walmart鈥攁ccording to the attributes they value most.

Amazon is riding the massive retail ecommerce wave in the country, where online transaction values have more than doubled since 2019. We expect Amazon sales to grow by 5.0% through 2023 and another 9.3% by the end of next year. Amazon has aggressively built fulfillment infrastructure in Canada.

Gross merchandise value (GMV) increased 14% year over year (YoY) in Q2 2023, outpacing ecommerce鈥檚 1% growth, per Salesforce data. And demand is strong for Pay Now, which it recently rolled out in Europe: the instant debit option now accounts for about one-third of all transactions in European markets. Klarna is pushing a wide European expansion, launching in 11 markets on the continent since 2020.

Ad revenues as a percentage of GMV reached 1.3% for the entire year, with the company raking in 2.7% of all digital ad spending in Latin America last year. Over 1 billion items were sold on鈥攁nd shipped by鈥擬ercado Libre for the first time in the company's history. That's more than triple the number of items sold and shipped just three years earlier.

Amazon now holds a 22% share of UK online health and beauty, per Kantar. And by 2026, it鈥檚 set to overtake Boots as the UK鈥檚 biggest health and beauty retailer by gross merchandise value (GMV), per Edge by Ascential. High street retailers are fighting back to maintain online market share.

The firm鈥檚 Q4 gross merchandise volume (GMV) increased 19% year over year (YoY), per its annual report. Klarna鈥檚 net losses of SEK 1.9 billion ($188 million) were an improvement from SEK 2.2 billion ($217 million) in Q3 and SEK 4.6 billion ($455 million) in Q4 2021. CEO Sebastian Siemiatkowski said in December that the firm expects to achieve monthly profitability by August or September 2023. Sezzle.

Amazon has long offered used and refurbished goods on its platform, and secondhand offers appear alongside new options on product pages. More recently, Amazon has been testing the luxury resale waters through partnerships with Rent the Runway and consignment store What Goes Around Comes Around. Walmart is taking a dual-pronged approach.

There's some new data from YipitData that reported its May GMV at more than $630 million. That is up from less than $200 million in January and basically zero last summer. It's really in its hyper-growth phase of spending very heavily on customer acquisitions through digital marketing and very heavy discounts.

Key stat: TikTok Shop sold 68.1% of social shopping gross merchandise value (GMV) in February 2024, per the report. Livestream shopping app Whatnot has captured 31% of GMV, while the combined GMV of Instagram Checkout, Facebook Shop, and Flip App amounted to less than 1%. What it means: Consumers aren鈥檛 just using TikTok for social inspiration, they鈥檙e actually making purchases on the platform.