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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).

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.

Meanwhile, in China: Retailers like JD.com Inc. and state carrier China Mobile took 800 yuan ($118) off the iPhone 14 Pro, ostensibly to push sales. Apple鈥檚 own local website, meanwhile, did not lower its price.

Amazon dominates in the US, but Mercado Libre is a major player in Latin America, and in China, Alibaba, JD.com, and Meituan contribute to ad inventory, our Worldwide Retail Media Ad Spending Forecast 2024 report noted. 5. Retail media will make up more than half of US search ad spend growth. Retail media will drive US search ad spend growth in the US in 2024 and beyond.

The news: Pinduoduo owner PDD鈥檚 Q4 revenues grew 46% year-over-year (YoY) to 39.82 billion yuan ($5.79 billion)鈥攆ar outpacing rivals JD.com and Alibaba. However, that result fell short of Refinitiv estimated revenues of 41.01 billion yuan ($5.96 billion).

Its flagship app, Pinduoduo, was founded in 2015 and rose rapidly to become the country鈥檚 third-largest ecommerce player by sales, after Alibaba and JD.com. At times it has even surpassed them in users, thanks to its aggressive marketing strategy. Temu is PDD鈥檚 first foray into cross-border ecommerce and has targeted the US market first, with Canada up next. 2.

Chinese ecommerce giant JD.com said it would release its own version of ChatGPT鈥擟hatJD鈥攕pecifically for enterprise use by the retail and finance industries. Companies will be able to use ChatJD to generate content including marketing copy and product summaries, power chatbots, and understand user intent, among other applications.

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.

To satiate this intense consumer demand, Alibaba, Baidu, and JD.com are already working on several new AI products, while rumors abound about systems being developed by other Chinese tech giants like Tencent and ByteDance. Regulation has held the market back but may position it for robust future growth.

For example, JD.com is shuttering its Indonesia and Thailand retail ecommerce sites as it shifts focus to supply-chain and logistics services.

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.

ByteDance, Microsoft, and Tencent crossed the $10 billion threshold already, and Kuaishou, Apple, JD.com, and Baidu will join the ranks over the next year or two. By contrast, no platform that primarily features connected TV, entertainment, news, arts and culture, ratings services, or digital audio is anywhere close to that level.

But they do have a very deep-pocketed parent that made very rapid inroads in China with Pinduoduo taking on the big two, JD.com and Alibaba, and it's now up there with them. It actually sells more than JD.com or is on track to very soon. Sara Lebow:. Yeah. Temu is the American arm of Pinduoduo. Yeah. Sky Canaves:. It's a sister app. Yeah. Sara Lebow:. The American sister app of Pinduoduo.