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Ad revenues per gross merchandise volume (GMV) rose across all countries, with Argentina narrowing the gap with Brazil and Mexico. Advertising鈥檚 share of GMV was 2.6% in Q2, up from 2.4% in Q1, based on our estimates. Mercado Libre expects that share to accelerate in Q3, and we project its retail media arm will capture 6.9% of digital ad spending in Latin America this year, up from 5.1% in 2024.

A record Q2: The RealReal鈥檚 GMV and revenues reached record highs in Q2, bolstered by a growing user base and an increase in average order value (AOV). The company counted over 1 million active users at the end of the quarter, up 6% YoY. AOV rose 8% YoY to $581, which could indicate that shoppers are buying more per order, or are opting for more expensive items.

GMV rose 40% to $13.3 billion. Earnings per share were $9.74, up nearly 44% and well ahead of the $8.27 forecast. The company also reported 66.6 million unique active buyers, a 25% increase from a year ago.

That uncertainty, along with tariffs, is beginning to chill sales: TikTok Shop鈥檚 US GMV fell by over one-fifth during the week reciprocal tariffs were announced compared with the prior week, per EchoTik data reported by the South China Morning Post. Other markets are beginning to take precedence. With US growth prospects uncertain, ByteDance is hastening its entry into new markets.

Shop Pay global GMV jumped 57% YoY in Q1 2025. Brands are flocking to the buy button as it gains popularity among consumers. Any merchant鈥攅ven those without a Shopify storefront鈥攃an add it to their checkout page, automatically bringing the merchant into the Shopify Payments ecosystem that processes all Shop Pay purchases.

Gross merchandise volumes (GMV) grew by 25.7% year over year (YoY) to $94.46 billion, outpacing FactSet鈥檚 consensus estimate of $93 billion. Revenues accelerated 31.2% YoY to $2.81 billion, topping analysts鈥� expectations of $2.73 billion. Adjusted earnings per share (EPS) jumped to 44 cents, up 29% YoY and well ahead of the expected 35 cents.

TikTok Shop joins Amazon in holding a July sale: The marketplace hopes exclusive discounts on brands like L鈥橭r茅al and live-shopping events will boost GMV.

Without the advantage of de minimis, Shein and Temu would lose their price advantage relative to players like Amazon and Walmart. The two also face growing competition from Amazon, which is challenging Shein and Temu on their own turf with its own low-cost marketplace, Haul, where all products sell for $20 or less.

Amazon can stake a claim as one of Canada鈥檚 top mass merchants, even without having physical stores. It has reached this milestone after more than three years of accelerated retail ecommerce in the country.

TikTok Shop doubles down on livestreaming as ecommerce sales grow: The platform sees an opportunity to grow order frequency and drive more impulse purchases.

Temu pitches Amazon sellers amid growing headwinds in the US: The retailer is recruiting local merchants to offset the impact of the de minimis crackdown, but a slowdown in customer growth poses a bigger challenge.

JD.com similarly highlighted a more than 20% YoY increase in shoppers but refrained from releasing statistics on GMV or buyer numbers. However, both were clear that Beijing鈥檚 trade-in subsidies are boosting demand for home appliances and other electronics. JD.com noted that transaction volumes for 519 home and appliance categories rose 200% YoY.

Douyin鈥檚 ecommerce business has been wildly successful; the app鈥檚 ecommerce GMV crossed the $200 billion mark in 2022, with 76% YoY growth, according to The Information. TikTok鈥檚 GMV in Southeast Asia hit $4.4 billion in 2022, a fourfold increase over 2021. But UK consumers have been less receptive, and TikTok鈥檚 efforts there have come under fire for poor-quality goods and low payouts to influencers.

Alibaba also got a sizable bump from the extended Singles Day shopping season, which helped boost gross merchandise volume (GMV), as well as efforts to extract more revenues from sellers in the form of software service fees and advertising sales. At the same time, Alibaba鈥檚 cross-border influence is growing.

Market leaders Flipkart and Amazon are in a tight race. Amazon and Walmart-owned Flipkart have been neck and neck in generating retail ecommerce sales, with respective market shares of 30.5% and 31.8%. Flipkart will come out slightly ahead, according to our forecast.

Amazon has won over beauty consumers, and brands must follow. Amazon will continue to outpace overall ecommerce growth for just about every beauty subcategory in 2025, with the biggest gains coming from fragrance and haircare.

B) Amazon. C) Walmart. D) Pinduoduo. E) Douyin. Walmart鈥檚 gross merchandise value (GMV) is growing the fastest. Interestingly, Douyin, including TikTok, is No. 2, according to ECDB. May 22, 2025. What鈥檚 the most popular category for graduation gifts this year? A) Electronics. B) Clothes/footwear. C) Toys/hobbies/collectibles. D) Jewelry/accessories.

Amazon will bolster its dominance over holiday shopping. Amazon is poised to lead the ecommerce competition from start to finish. After posting its first $100 billion US holiday season in 2023, Amazon will continue expanding its share of US ecommerce during the 2024 holidays. The company will claim a larger share of online holiday shopping.

The news: Shop Pay鈥檚 gross merchandise volume (GMV) jumped 50% YoY in 2024, per Shopify鈥檚 Q4 2024 earnings release. This volume came from more than 200 million Shop Pay users and represented 38% of Shopify鈥檚 total GMV, up from 33% in 2023. What drove growth: Holiday spend gave Shop Pay a boost: GMV over the Cyber 5 Weekend shot up 58% YoY.

Gross merchandise volume (GMV) grew 14% year over year (YoY), items sold rose 28% YoY, and unique buyers increased 21% YoY鈥攖he fastest growth since the pandemic began. GMV grew 34% YoY in Brazil and 27% YoY in Mexico. Items sold grew 16% YoY in Argentina as consumption patterns trend in a positive direction. Advertising revenues grew 37% YoY, well ahead of 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.