Get up to date with this week's ecommerce headlines from around the globe.
Amazon under investigation by the CMA
Amazon is under investigation by the UK’s Competition & Markets Authority over claims it purposely gives customers a ‘worse deal’, with some of its practices violating competition laws. The company has been accused of distorting competition by putting third-party sellers on the UK marketplace at a disadvantage.
Amazon’s new robots may not be the solution to its high worker injury rates
Ecommerce giant, Amazon, has continued to introduce new robots while serious injury rates continue to increase in the company’s warehouses. Directors have claimed that the introduction of new robots are increasing efficiency while also collaborating with the warehouse workers to limit injury rates. Nonetheless, company records showed that between 2016 and 2019, serious injuries occurred more often in Amazon warehouses with robots than those without them.
Royal Mail International services are now available on eBay
Ebay has partnered with Royal Mail to offer its ‘tracked & signed’, ‘signed’, and ‘standard’ services internationally. Sellers on the platform will now benefit from an easier and simpler process when exporting to Europe and other countries, opening up new markets and customers for eBay and its merchants.
Klarna unveils an $800m fundraising at a valuation of less than $6bn USD
Two years ago, Klarna was valued at $45.6bn, but is now seeing a fading valuation as economic circumstances pose challenges and investors turn away from tech companies. The Canadian Pension Plan Investment Board is set to become a shareholder in the buy-now-pay-later firm, and the injection of this new capital is being undertaken at a pre-money valuation below $6bn.
Shopee opens 5 new distribution centres in Brazil
Singaporean shopping app, Shopee, has recently opened new distribution centres in Brazil in an effort to improve shipping processes and cut lead times. Since its launch in 2019, the app has made a name for itself and has taken a top spot in Brazil’s most downloaded ecommerce apps. The company has been over-achieving in terms of sales estimates and expanding into newer markets including Mexico and Spain.
TikTok abandons plans to expand its live commerce initiative in the EU & US
TikTok has struggled to gain traction on its ecommerce expansion in Europe and the United States. “TikTok Shop” launched in the UK last year, which was its first market outside Asia. It operates by influencers and brands using live broadcasting to sell products through a clickable icon on the screen. Despite livestream commerce being seen as the future of shopping, TikTok’s initiative failed to meet targets in the UK and other expansion plans into other EU countries fell through.
India’s ecommerce market size set to reach $120bn by 2026
India has seen phenomenal growth in its ecommerce market, and has been predicted to grow from $38bn in 2021 to $120bn USD by 2026. The pandemic has accelerated the growth of the ecommerce market, and online shopping has significantly increased mainly due to the internet becoming more accessible and cheaper tariffs in the region.
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