蘑菇AV

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.

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.

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.

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.

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.

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.

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.

While Shopify鈥檚 growth has slowed, and is expected to slow in Q1, it is easy to lose sight of the fact that we expect its US retail ecommerce GMV this year to be roughly double what it was in 2020.

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.

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.

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 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.

US gross merchandise volume (GMV) grew 13.6% YoY, a stark contrast to LVMH鈥檚 stagnation during the same quarter. How we got here: Mytheresa has bucked slowing demand by focusing on the top tier of luxury consumers whose affluence insulates them from economic uncertainty and price hikes.

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.

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.

Klarna鈥檚 gross merchandise volume (GMV) in 2024 totaled $105 billion, almost double its $53 billion in 2020. Klarna鈥檚 revenues totaled $2.8 billion in 2024, and net profit hit $21 million. It boasts 93 million active consumers and 675,000 merchants. We forecast Klarna will reach $41.54 billion in US-only GMV by 2028, up from an expected $30.42 billion this year.

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.