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That drove the two incumbents to join forces: JD.com merchants can now use courier, delivery, and installation services from Alibaba鈥檚 Cainiao, while Tmall and Taobao sellers have the option to use JD.com鈥檚 logistics offerings.

Douyin鈥檚 low-cost shoppertainment strategy has been effective, helping the short-video app gain market share in retail ecommerce sales against giants such as Alibaba and JD.com. Overall Douyin retail ecommerce sales grew 55.0% in 2023, compared with 11.4% for China鈥檚 total retail ecommerce sales, to reach $324.42 billion.

Incoming vice president JD Vance recently said on a podcast that he鈥檚 a big critic of pharma advertising. Vance wasn鈥檛 concerned with drug ads鈥� influence on consumers but rather that media companies don鈥檛 appropriately investigate the drug industry since they rely so heavily on Big Pharma鈥檚 ad dollars. Vance鈥檚 critiques of D2C pharma ads aren鈥檛 the same as Trump鈥檚.

The DOJ brought its search monopoly complaint against Google under the first Trump administration, and JD Vance said the company should be broken up in July. Trump favors fewer content restrictions while also weakening Section 230 of the Communications Decency Act, which protects platforms from being held responsible for their users鈥� speech.

The majority have dealt with at least one issue during a recent virtual care appointment, according to JD Power鈥榮 2024 US Telehealth Satisfaction Study. 4,070 US consumers who used a telehealth service within the past 12 months were surveyed. The survey ran from September 2023 through July 2024.

The DOJ brought its search monopoly complaint against Google under the first Trump administration, and JD Vance said the company should be broken up in July. Trump favors fewer content restrictions while also weakening Section 230 of the Communications Decency Act, which protects platforms from being held responsible for their users鈥� speech.

Digital, traditional, and total media ad spending growth will all accelerate in 2024, although only modestly. The outlook has stabilized for most countries and regions, even if spectacular growth is harder than ever to find.

It will need to do a better job of reaching the nearly half of brick-and-mortar pharmacy customers who say they have not heard of digital pharmacies, per JD Power鈥檚 2024 US Pharmacy Study.

Companies like Alibaba, JD.com, and Meituan are pulling in tens of billions in ecommerce channel ad spending in China, while Amazon has only a limited presence. The opposite is also true: China鈥檚 retail giants are not significant ad publishers in other markets. Latin America is also a vulnerable spot for Amazon. Mercado Libre is building momentum in countries like Brazil, Mexico, and Argentina.

In particular, the retailer鈥檚 embrace of newer marketplaces like Douyin show how sharply momentum has shifted away from previously dominant players Alibaba and JD.com. 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.

This achievement will come in part at the expense of their legacy domestic competitors, as we project Baidu, Alibaba, and JD.com will see middling results this year. Reddit, Spotify, and Apple are also noteworthy. Aside from ad industry giants like TikTok, Amazon, and Instagram, several other names stand out.

Competitors like JD.com and Meituan have been quick to jump on the retail media hype train, and the long tail of 鈥渙ther鈥� is far larger in China than it is in the US ($9.84 billion versus $4.18 billion this year), indicating the extensive range of smaller players that have found success. What does China鈥檚 story tell us about the US鈥� growth potential?

We expect it to leapfrog JD.com next year for second place. Alibaba is the biggest ecommerce company in the world, but its share in China has plummeted over the past 10 years. In 2013, Alibaba controlled 84.1% of China鈥檚 ecommerce market. By 2024, that figure will have dropped below 40%.

KEY STAT: Douyin鈥檚 retail ecommerce sales in China will grow by 60.0% in 2023, far surpassing growth rates seen by Alibaba, JD.com, and Pinduoduo. Executive Summary. Douyin will soon eclipse WeChat in users. By the end of 2025, Douyin will have 877.1 million monthly users to WeChat鈥檚 865.9 million (note that our forecast counts users with multiple accounts as one user only).

Consumers are unsatisfied with their credit card rewards, according to the JD Power 2023 US Credit Card Satisfaction report. Gen Z cardholders were most likely of any generation (41%) to say their credit card rewards aren鈥檛 up to snuff, per a report from i2C and PYMNTS Intelligence.

Pinduoduo鈥檚 early gains in Chinese ecommerce鈥攖hen dominated by the incumbent duopoly of Alibaba and JD.com鈥攃ame from a similar strategy. Rapid global expansion is already underway. In Q1 2023, Temu started rolling out in the predominantly English-language markets of Canada, Australia, and New Zealand.

The top reason for switching card providers is to find a better rewards program, according to JD Power.

More than half (51%) of US consumers can鈥檛 pay off their entire balance each month and accrue interest on the balance, according to a survey from JD Power. This is the highest level in years: The percentage ranged from 40% to 50% between 2018 and 2022, per JD Power. Record-high credit card interest rates have helped propel consumer credit debt to new heights.

Wider adoption is helped by nearly every major Chinese ecommerce and social platform participating in live commerce, including Alibaba鈥檚 Tmall and Taobao, JD.com, Pinduoduo, and WeChat, along with short-video apps Douyin (TikTok鈥檚 sister app in China) and Kuaishou. Other mobile-first markets in Asia-Pacific hold promise for livestreaming ecommerce.

No other market in the world comes close to China when it comes to ecommerce. Its highly competitive digital market has spurred retail innovations that are making their way around the world.

More than half (51%) of US consumers say they can鈥檛 pay off their entire balance and accrue interest each month, according to a survey from JD Power. This is the highest level in years: 40% to 50% said the same between 2018 and 2022. The impact: Issuers need to be wary of rising delinquency rates. Wells Fargo鈥檚 30+ day delinquency rate hit 2.70%, up from 2.39% the prior quarter.

Card-linked plans also enjoy higher satisfaction rates, according to a March JD Power study. American Express, Chase, and Citi landed the top three rankings for installment plan satisfaction; Sezzle, Afterpay, and Affirm earned the lowest scores.

Trucks/SUVs were forecast to account for 78.6% of new-vehicle retail sales in August, per JD Power. Our take: Honda is flipping the script by working on charging infrastructure before ramping up EV sales, diverging from the industry norm of launching EVs first.

Global ecommerce giants Alibaba and JD.com have both begun to build out their AI capabilities. The bottom line: Shopify is smart to make its move into generative AI while it鈥檚 still relatively untapped. As more retailers jump on the bandwagon, Shopify could establish itself as a market leader and possibly even make some money by licensing its product to others.