Happy Sunday,
Hereโs a quick roundup of last weekโs news :
Chart of the Week #1 ๐
Metoda is highlighting Temuโs aggressive push โ here at the example of Google auction spend in Europe:
Chart of the Week #2 ๐
Following last weekโs deep dive into the importance of ad spend for Amazon, Meta and Google by Chinese eCom firms โ hereโs a deep dive intoAmazon's reliance on Chinese Sellers by Marketplace Pulse
Scaling Alert: Fully automated global listing improvements ๐บ
Autopilot launched its fully automated listing optimization functions (based on Search Query Performance & PPC Performance data) for all Amazon marketplaces:
๐ง๐ท ๐ฆ๐ช ๐ช๐ฌ ๐ช๐ธ ๐ซ๐ท ๐ง๐ช ๐ฎ๐ณ ๐ฎ๐น ๐ณ๐ฑ ๐ต๐ฑ ๐ธ๐ฆ ๐ธ๐ช ๐น๐ท ๐ฟ๐ฆ ๐ฏ๐ต
โฆ and thatโs on top of full listing optimization automation in ๐บ๐ธ ๐ฆ๐บ ๐จ๐ฆ ๐ธ๐ฌ ๐ฉ๐ช
Shopify 2023 Highlights ๐
Gross Merchandise Volume increased 20% to $235.9 billion, (+$38.7B YoY)
Total revenue increased 26% to $7.1 billion compared to 2022. Within this, Merchant Solutions revenue grew 27% to $5.2 billion, and Subscription Solutions revenue grew 23% to $1.8 billion
Gross Payment Volume was $137.0 billion, which accounted for 58% of GMV processed, versus $106.1 billion or 54% for 2022
Gross profit dollars grew 28% to $3.5 billion in 2023 (+$1.2B YoY)
Gross margin was 49.8% (+0.6%P YoY)
Free cash flow****ย was $905 million (+$1,091M YoY)
Full press release & deep dive here.
Movers & Shakers ๐
Dublin e-commerce accelerator Luzern targets โฌ80m revenues
DTC struggles: โAway lays off 25% of internal staffโ [RetailDive]
Strategy ๐ฆ
US judge sets October 2026 trial for FTC antitrust suit against Amazon [Reuters]
Amazon hides cheaper items with faster delivery, lawsuit alleges [Ars Technica]
Amazon, Mercado Libre may threaten e-commerce competition, Mexican regulator says [Reuters]
Shopifyโs Merchant Solutions Revenues Up 21%, Underpinned by Shopify Payments [PYMNTS]
Shopify President says international business is a โmassive area of growthโ
[CNBC]
What You Need To Know Ahead of Walmart's Earnings Report on Tuesday [Investopedia]
20 Fastest Growing E-Commerce Companies in 2024 [Yahoo Finance]
Alibaba faces reckoning with once-vaunted โnew retailโ strategy [Techcrunch]
The Creator Startupย Takeover List [The Information]
Shein plans Seattle hiring push as logistics units ramps up [The Information]
Wish.com marketplace to be acquired by Qoo10 for 173M cash [Linkedin Joe Zhang]
VF Corp launches strategic review of brand assets, CFO steps down [Retail Dive]
Bergdorf Goodman to run its own e-commerce as parent Neiman Marcus Group drops Farfetch [Retail Dive]
Events ๐ค
Prosper Show, Mar 4-6, Las Vegas, US
ShopTalk, Mar 14-16, Las Vegas, US โ Exhibitor opportunities
Make this week count ๐
Christian