Before this, overseas consumers usually shopped at established retailers such as Amazon and Walmart. According to reports, a TikTok spokesperson confirmed these plans, and TikTok will launch its “Black Friday” promotion at 20:00 New York time on November 23. According to TikTok documents, a promotion called “Cyber Monday” will be launched from November 28 to November 30.

TikTok announced on September 12 that it would officially launch the e-commerce service TikTok Shop in the United States. This business has been tested among American TikTok users for several months.

With this official launch, in addition to short videos and live shopping, TikTok e-commerce has also launched a series of services for merchants and creators, including product display pages, malls, and “affiliate programs” that connect merchants and creators. At the same time, TikTok e-commerce has also launched the “TikTok Fulfillment Plan” (Fulfilled by TikTok) to help merchants store, select, package and deliver goods, as well as a secure payment system developed in cooperation with third parties.

In addition, TikTok will further expand the launch of the “mall” entrance. The “Mall” is located on TikTok’s homepage and can bring more exposure to merchants and products. Currently, 40% of TikTok’s US user interfaces include a “mall” entry, and it is expected that all US users will be able to see the “mall” on the homepage in early October.

A TikTok spokesperson said last week that there are more than 200,000 verified U.S. merchants selling legal products on TikTok Shop, and the business’s goal this year is to sell $20 billion on the global platform (Currently about RMB 145.6 billion) products.

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TikTok has been developing a program to help Chinese merchants sell their goods globally, which has been piloted in the UK and is scheduled to be officially launched to US consumers next month.

Indonesia’s Minister of Small and Medium Enterprises and Cooperatives, Teten Masduki, told local media that he had met with TikTok leaders and expressed concern that launching such a program in the country could hurt small businesses. He also emphasized that TikTok has promised not to do so.

The Indonesian government’s stance makes the country the first to publicly oppose the plan by TikTok, which is trying to replicate the success of shopping platforms like Shein and Pinduoduo’s Temu in Europe and the US.

Anggini Setiawan, TikTok’s head of public relations in Indonesia, said the company has no intention of launching such a platform in the country: “As a responsible company, we made a conscious and deliberate decision not to open up a cross-border business here. This is our commitment to support local micro, small and medium-sized businesses in Indonesia.”

Setiawan added that the current local TikTok Shop model “empowers and benefits local sellers” and that TikTok will continue this practice. The model, which TikTok calls “full-service,” is designed to complement TikTok’s existing e-commerce capabilities by helping local merchants sell their products to local buyers on the TikTok app.

TikTok has built a large user base in Indonesia. The company says its app has 325 million active Southeast Asian users per month, 125 million of which are in Indonesia. In addition, there are 2 million small businesses on TikTok Shop in Indonesia.

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Following the US, Canada and Australia, Temu, the cross-border e-commerce platform of Poundworld, was officially launched in the UK on 21 April, while the European market sections of Germany, France, Italy, the Netherlands, New Zealand and Spain are also in the process of expansion.

By now, the US, Canada, Australia and New Zealand are fully operational. According to the data, TEMU has been on the charts for 170 days in the US, 120 days in Canada, 20 days in Australia and 39 days in New Zealand.

Temu merchants do not have to pay any fees to join. Similar to Poundland in China, Temu also focuses on low prices. Currently, many of the products on Temu’s platform are priced at under $0.90 / £1. Currently, Temu’s main recruiting methods include low prices, free shipping for new registrants, no threshold discounts across the site, and old users bringing in new ones.

According to public information, Temu was founded in 2022 in Boston, meaning “TEAM UP, PRICE DOWN”, and offers its services and products to users through its website (https://temu.com) and its mobile apps (Android / iOS).

At the beginning of the year, Temu was only available in the United States (including Puerto Rico, Virgin Islands, Guam, and Northern Mariana Islands) and Canada, and is expected to expand to more regions.

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Groupon has seen its revenue shrink over the past decade: its core business model has stagnated and its diversification efforts have had little success, leading to declining revenue and continued losses.

The Chicago-based company, which now has a market cap of just $103 million (down 99.4% from its IPO debut), has appointed board member Dusan Senkypl as interim CEO and is running the company’s operations remotely from the Czech Republic.

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Instacart’s sales numbers are another good indicator that the company has a second curve with advertising, and not just with grocery delivery. The company said transactions grew by less than half of overall sales, which were up 16 percent compared with the same period last year. In the fourth quarter, the company saw particularly strong sales growth of 50 percent. Its total profit rose 80 percent in the quarter.

Instacart also announced the launch of a delivery service for small business customers, which it hopes will enrich its business and break away from its traditional grocery delivery business.

The new service, called Instacart Business, will offer items from retailers such as Staples, Costco and Restaurant Depot with home delivery. This will put Instacart in more direct competition with Amazon and Walmart, both of which have customized versions of their websites for business customers.

Instacart’s current launch of the new service comes as the company seeks to go public this year. after closing its most recent round of funding in March 2021, which valued the company at $39 billion after the deal, Instacart has cut its valuation internally several times, with reports last December that it had dropped to $10 billion.

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Walmart wants to bring in strategic investors for Flipkart, but it’s not resistant to large pure-play investment firms either, people familiar with the matter said. For the latest round of funding, Walmart has not yet formally authorized investment bankers to look for strategic investors and larger global investors.

Flipkart is now valued at more than $40 billion, having raised $3.6 billion last year, when it was valued at about $37.6 billion. A Walmart press release responded, “We don’t comment on speculation.”

Walmart invested about $16 billion in Flipkart in 2018, taking a 77% stake, and at the end of 2018 Walmart said it might take Flipkart public within four years. It was reported in April that Flipkart had internally raised its IPO valuation target by a third to $60-70 billion, and that Flipkart would not go public this year; it was aiming to hit the U.S. stock market in 2023.

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The global e-commerce industry will need to overcome two major hurdles – a widely anticipated global recession and the ensuing rise in unemployment – before it can finally get back on track.

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