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Revenue opportunities are expanding through cross-border advertising, particularly for European brands targeting US audiences.

Amazon plots Haul expansion in spite of de minimis crackdown: The retailer plans to launch its low-cost marketplace in Europe and Mexico.

Payment providers can enhance these platforms by helping social media players process payments and engage more seamlessly in cross-border commerce. They can also integrate more commerce tools to better meet merchants鈥� needs.

Our take: Tie-ups like this are a smart growth tactic because there is a strong use case for stablecoins for cross-border payments. They help make transfers faster and cheaper. This partnership with FV Bank also signals there is growing momentum for PYUSD.

This report analyzes how digital adoption and evolving consumer habits are reshaping South Korea鈥檚 retail, media, and payments landscape.

Germany鈥檚 digital landscape is evolving fast, driven by shifting consumer behaviors, increasing ecommerce adoption, and changing media habits. Recent data reveals the trends shaping digital spending, retail sales, and more.

Temu parent PDD posted its slowest revenue growth in Q2 since the end of 2021, as it struggles to navigate a weak consumer environment in China and regulatory challenges in the US and other key markets. While PDD鈥檚 Q2 results beat expectations, they show how the company鈥檚 primary strategy of undercutting competitors with cheaper prices is becoming untenable in the current political and macroeconomic landscape.

Italy鈥檚 digital landscape is evolving fast, driven by shifting consumer and media habits and increasing ecommerce adoption. Recent data reveals the trends shaping digital spending, retail sales, and more.

Ecommerce growth is slowing as the market matures, but gains will come from mobile commerce, Gen Z buyers, and high-performing categories.

The news: President Donald Trump signed an executive order to close the so-called de minimis trade loophole, which allows foreign packages valued under $800 to enter the US tariff-free. Effective August 29, all shipments under that threshold鈥攔egardless of origin鈥攚ill be subject to duties based on value and country of origin. The White House already ended the exemption for packages from China and Hong Kong on May 2. Our take: Eliminating the de minimis exemption levels the playing field between international ecommerce sellers and domestic retailers鈥攂ut could also drive up prices for consumers.

emu鈥檚 attempts to tariff-proof its business are running into opposition from regulators and sellers alike. The company has been accused of failing to protect EU users from illegal products. Efforts to woo US sellers to its marketplace are also running aground as companies and merchants refuse to sell products on Temu for less than what they retail for on Amazon. For all its troubles, we expect Temu鈥檚 US ecommerce sales to rise 13.5% this year, which would be the second-fastest rate of growth among the companies we track鈥攂ut a far cry from the triple-digit increases it enjoyed over the past few years. With governments increasingly unfavorable to its business tactics鈥攁nd Amazon increasingly inclined to flex its market power鈥擳emu will need a new playbook to navigate the current era of uncertainty and tariffs.

A trade war between two of the world鈥檚 largest consumer markets would cause significant disruption for consumers, retailers, and brands in Europe.

US Customs and Border Protection.

Trump鈥檚 鈥淟iberation Day鈥� tariffs landed harder than expected. Uncertainty remains, given the pause on reciprocal tariffs for countries willing to negotiate with the US鈥攁long with an escalating trade war with China. Which markets will take the greatest hits? And how might our US forecasts change?

The situation: A perfect storm of consumer pullbacks, rising prices from new tariffs, and the suspension of the de minimis tax exemption will drag US ecommerce sales growth this year to its weakest pace since the Great Recession in 2009. We expect US online sales to grow just 5.0% this year in our moderate tariff scenario, which reflects the current policy landscape. That鈥檚 a 3-percentage-point drop from last year. Looking ahead: We expect ecommerce growth to experience a modest rebound to 5.3% growth in 2026. But more headwinds are on the horizon. The tax-and-spending package known as the 鈥淥ne Big Beautiful Bill鈥� will close the de minimis loophole that lets most packages under $800 enter duty-free from countries outside China and Hong Kong. While that will eliminate the possibility of some workarounds, it could also reshape the economics of cross-border ecommerce鈥攁nd place even more strain on platforms, suppliers, and price-sensitive consumers alike.

The news: Target is testing a factory-direct shipping model that would enable it to offer lower-cost products to customers, per Bloomberg. The model, which lets suppliers ship products directly to shoppers, closely resembles the strategy used by Temu and Shein to keep prices low. Our take: Unfortunately for Target, now is not the best time to increase its reliance on overseas suppliers. While the Temu-Shein model worked spectacularly well for several years, the conditions that fueled their growth鈥攏amely, the de minimis exemption and low tariffs鈥攁re no longer in place.

The news: Temu鈥檚 foothold in the US is shrinking as the company pulls back sharply on advertising. Weekly sales slumped more than 25% YoY between May 11 and June 8, according to Bloomberg Second Measure. Our take: Given the importance of the US market to Temu and its merchants, it鈥檚 possible that its current pause on US ad spending and shift to Europe is a temporary effort to regroup as it searches for a business model more resistant to tariffs and the end of de minimis. At the same time, the longer the pause goes on, the more ground it will cede to Shein and other competitors鈥攁nd the harder it will be to regain market share.

He paused the tariff for 30 days in early February 2025 after Sheinbaum agreed to deploy 10,000 National Guard troops to the border, and in late February announced they would take effect March 4. Brazil: The country鈥檚 ties to BRICS鈥攁n alliance of major emerging economies鈥攈ave made it a tariff target.

The digital landscape in Europe is slowing, but opportunities for advertisers, brands, and retailers still exist. Knowing where to look to achieve the best outcomes will be paramount.

The US-China trade war drives Shein to diversify its sourcing: Shein and Reliance Retail plan to start international sales of India-made Shein-branded clothes within six to 12 months.

The news: Shein鈥檚 and Temu鈥檚 influence in the US is fading quickly as both companies cut ad spending and look to Europe for growth. Our take: Shein and Temu are finding that the billions of dollars they plowed into US advertising have not been enough to secure US customers鈥� loyalty in the face of higher prices. But rather than find ways to extend the longevity of their US businesses, both companies are fleeing to Europe to take advantage of the (currently) more favorable trade environment.

Temu parent PDD鈥檚 profits fell 47% in Q1 as global and domestic challenges pile up: The company鈥檚 operating model is ill-equipped for today鈥檚 protectionist trade policies.

Shein, Temu take advantage of tariff reprieve: Shein is raising prices while Temu resumes China shipments, as both retailers try to undo a sales slump.