🌀 Rise of Specialty Marketplaces 🚀

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Recent study and report by BCG analyses the world of Marketplaces launched by Specialty Retailers, Manufactures, and Distributors. The report is backed by a consumer study with 1542 respondents

🌍 Specialty Retailer Marketplaces: Big Wins

• Today, marketplaces account for 67% of global e-commerce sales, up from 40% a decade ago.

• Retailer marketplaces increase SKUs by 63% in their first year.

• 87% of consumers plan to spend the same or more on marketplaces next year.

📈 The Marketplace Evolution

• B2C marketplaces have evolved from all-encompassing stores to niche markets.

• 70% of consumers prefer specialized marketplaces over general stores.

• Trust and perceived better customer service drive this preference.

💡 Successful Specialty Retailer Marketplaces

• Douglas's health and beauty marketplace has doubled e-commerce sales since 2022.

• Decathlon's sports gear marketplace is forecast to hit $1.1B by 2026.

• B&Q’s home improvement marketplace accounts for 41% of its e-commerce sales.

🔧 B2B Marketplaces on the Rise

• B2B marketplaces cater to sectors like food, healthcare, and automotive.

• These marketplaces feature high-quality, trusted sellers.

• Tailored user experiences meet specific buyer needs in large, fragmented markets.

Adobe study among 808 consumers and 251 business owners shows TikTok is now a key search engine for Gen Z.

🔍 TikTok's Rise in Product Discovery

• Over 40% of Americans use TikTok as a search engine.

• Gen Z leads with 64% using TikTok for searches.

• Baby Boomers are less likely to use it, at only 14%.

• Nearly 10% of Gen Z prefers TikTok over Google.

📹 Video Platforms for Discovery

• Google is the top discovery platform for 91% of respondents.

• TikTok follows with 17%, close to Bing and DuckDuckGo.

• YouTube and TikTok are the top video platforms (39% and 17%).

🍳 TikTok’s Expanding Search Uses

• TikTok is no longer just an entertainment app, Users rely on it for diverse discovery needs.

• Consumers search TikTok for new recipes the most. Music, DIY tips, and fashion advice are also popular searches.

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▶🇺🇸 Amazon's new store to compete with Temu, Shein. Amazon announced a new budget storefront at a seller event in China. The store will feature low-cost items like apparel and home goods, competing with Temu and Shein. Product acceptance starts this fall, with shipping times of 9-11 days.

▶🇺🇸 TikTok challenges Amazon Prime Day in July. TikTok Shop will host a "Deals For You Days" event starting July 9, competing with Amazon Prime Day on July 16-17. TikTok offers deals on fashion, beauty, decor, and more. Brands include L’Oréal, Maybelline, and NYX.

▶🇩🇪 eBay Introduces Seller Tools and Updates in Germany. Innovations include an easy-to-use advertising cockpit, product research via app, and eBay Fulfillment enhancements, DHL service and new General Product Safety Regulation.

▶🇺🇸 Amazon Launches Bulk Order Quote and App Hub for its B2B customers: an integrated quoting tool for bulk orders and a "one-stop shop" app hub. These tools aim to simplify cost analysis, bid selection, and resource management for businesses.

▶🇮🇳 Flipkart launches Super.money app. Flipkart has introduced Super.money, a new payments app that provides real cashback for transactions. Currently in beta on the Play Store, the app uses UPI for mobile payments. The app also plans to include secured cards and lending, partnering with DMI Finance, Axis Bank, and Credit Saison India.

▶🇺🇸 Amazon boosts click rate by 20% using AI ads. Amazon's AI tool improves ad click rates by 20%. Used by 30K European sellers, it creates complete ads. AI also aids in keyword research, product text writing, image optimization, and pricing.

▶🇺🇸 Amazon expands Subscribe & Save for sellers. Amazon will include eligible seller-fulfilled products in its Subscribe & Save program from June 27, 2024. This program offers discounts on frequently used products with auto-delivery, boosting conversions and repeat purchases.

▶🇺🇸 TikTok adds Yelp-like features for location pages. TikTok has revamped its location pages to feature categories like food, hotels, and shopping. Users can explore tagged businesses on a map integrated with Apple Maps, enhancing user experience.

▶🇪🇺 Vinted says second-hand firmly embedded. Vinted's research shows 65% of members have at least 25% second-hand items in their wardrobes. Over 40% of members in the UK, Germany, France, and Poland report over 50% second-hand wardrobes.

▶🇪🇸 Zara's 61.8M Items on Vinted Raise Concerns. Zara has 61.8M items on Vinted, highlighting consumer trends and fast fashion’s dominance. Vinted also lists 59.7M H&M, 21.8M Shein, 21M Primark, and 10.2M Mango items. Circular fashion’s impact is debated as overproduction and short desirability cycles persist.

▶🇬🇧 Frasers pitches Asos, Boohoo, and Currys its credit. Frasers Group pitches its credit service, Frasers Plus, to Asos, Boohoo, Currys, and AO. Frasers Plus allows shoppers to pay in three interest-free installments and charges 29.9% APR. Boohoo may soon join. Usage of such services rose during the pandemic.

▶🇹🇷 Shein moves to make Turkey its main supplier. Shein plans to turn Turkey into a big supplier of its fast-fashion clothes in Europe. This move aims to reduce criticism of its use of Chinese labor. The company files for London IPO after U.S. rejection pursuing a £50B listing on the London Stock Exchange, despite Beijing's concerns.

▶🇰🇷 Coupang appoints ex-Microsoft AI specialist. Asha Sharma's experience spans roles at Microsoft, Meta, and Instacart.

▶🇩🇪 Momox achieves record sales of $372M in 2023. Secondhand retailer Momox achieved record sales of $372M in 2023, a 3.2% increase. The book and media sector grew by 7.7%. The fashion segment expanded to France and partnered with About You.

▶🇹🇷 Getir raises $250M and restructures businesses from Mubadala, splits into two units, exits European markets, focusing solely on Turkey, and sees leadership changes.

▶🇬🇧 Deliveroo shares rise on takeover news. Deliveroo shares surged 6% following news that Doordash discussed a potential takeover. Although talks ended over valuation disagreements, analysts predict new bids. Deliveroo's stock, down 50% since March 2021, is now valued at £2.1B.

▶🇮🇳 Zomato gains 57% market share in food delivery. Zomato holds a 57% market share in food delivery, surpassing Swiggy. Goldman Sachs reports Zomato's growth outpaced Swiggy's with a 22% YoY GOV increase. Zomato's profitability strengthens its position in the market.

▶🇺🇸 Grubhub partners with Albertsons for delivery. Grubhub partners with Albertsons, adding nearly 1,800 stores for nationwide grocery delivery. Customers can now order from Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, and Tom Thumb through Grubhub.

▶🇩🇪 Mayd Files for Bankruptcy Amidst Market Challenges. Mayd, the Berlin-based medication delivery service, has declared bankruptcy. Founder Hanno Heintzenberg attributes the failure to market challenges and delays in e-prescription implementation. Competitors like Kurando and First A have also exited the market, signaling a broader industry downturn.

▶🇮🇳 Ola launches grocery delivery on ONDC. Ola is launching grocery delivery on ONDC soon. Currently the second-largest in food orders, it processes 15-20K daily. It aims to compete with Paytm, Swiggy Instamart, Blinkit, leveraging its logistics expertise.

▶🇺🇸 Shipt starts accepting SNAP benefits for groceries. Shipt, owned by Target, now accepts SNAP benefits for grocery deliveries from Target and Meijer. SNAP participants get discounted memberships for $4.99 per month. This move aims to reduce food insecurity and increase access to nutritious foods.

▶🇺🇸 Target partners with Shopify to expand marketplace. This will add brands like Caden Lane and True Classic to Target Plus and possibly stores. Target Plus already has over 2M products from 1,200 merchants. The expansion will help Target offer high-quality, properly-sourced products.

▶🇨🇦 Shopify expands AI Sidekick to attract customers. Shopify launched its AI-powered Sidekick tools to more users. The tools, including chatbots and image editors, aim to attract more customers and boost revenue. The expansion follows a marketing push after recent stock value drops.

▶🇨🇦 Shopify boosts sales with AI upgrades. Shopify announced a series of new AI products at its Shopify Editions event, including tools for personalized customer responses and product categorization. These upgrades aim to enhance merchant productivity and sales.

▶🇺🇸 Amazon's new AI chatbot Metis to rival ChatGPT. Amazon is set to unveil Metis, its new AI chatbot, in September 2024. The chatbot, powered by the Olympus AI model, aims to surpass existing models like ChatGPT in functionality. Metis will feature capabilities in conversational engagement, information retrieval, and image generation.

▶🇮🇩 Shopee admits to breaking Indonesian competition law. Shopee, a major e-commerce firm in Southeast Asia, admitted to breaking competition laws in Indonesia. They agreed to modify their practices after the KPPU found them prioritizing their own courier service. Changes were proposed and approved on June 20.

▶🇩🇪 Alibaba boosts German SMEs with AI and EasyStart. Alibaba.com introduced its EasyStart package and AI tools to help German SMEs with digitalization and global trade. The EasyStart Membership offers a 3-month trial for $9, down from $399. AI tools like Smart Product Listing and Chat Co-pilot enhance digital presence.

▶🇳🇱 Catawiki unveils 'buy now' button for direct purchases. Chief Commercial Officer Frederik de Beer calls it the biggest innovation since Catawiki's founding. This feature allows buyers to purchase items directly up to 24 hours before the auction ends, aiming to increase buyers by tenfold.

▶🇨🇿 Rohlik rolls up $170M for expansion and tech sales. Rohlik raised $170M to expand its European grocery delivery service, aiming to launch in 10 new cities by 2030. The funding will also support its tech licensing plans. With 800K customers in 2023, Rohlik's growth continues.

▶🇩🇪 Hive Technologies raises €28.2M for expansion. Hive Technologies raised €28.2M to expand its operations platform. Founded in 2020, Hive saves commerce brands 17% on costs and boosts revenue by 24%. This round includes €10M venture debt from Atempo Growth. Key investors include Earlybird Venture Capital and Tiger Global.

▶🇩🇪 Platform Group buys Aplanta for plant expansion. Platform Group buys Aplanta, expanding into the $1.7B artificial plant industry. The acquisition will be finalized in July. CEO Dominik Benner aims to grow platform partners and apply TPG's software solutions. Purchase price undisclosed.

▶🇺🇸 Pear Commerce raises $10M for expansion. Pear Commerce, a Minneapolis-based retail ecommerce platform, raised $10M in Series A funding led by Stage 2 Capital. Funds will go towards product development, market expansion, and hiring for three key positions.

That’s all. See you next week in the 🌀Maze!

Your guide through the maze

Artur Stańczuk Chief Strategy Officer at Packhelp, the leading European packaging marketplace. Previously worked ~8 yrs at Bain & Co. In the past, Digital Transformation Director at the leading Polish convenience chain Żabka and Entrepreneur that co-launched 3 startups