#31 - Shopify Foundations in the spotlight!
PayPal First Look. Solar Energy is (finally) getting Online. Temu welcomes international sellers. Ecommerce in Emerging Markets. Shopify Winter Editions 2024. TheShop. Ecommerce Prague 2024 sold out!
Hello hello 👋
What a week! What a week! So much happened, that I won’t be able to give you all the details in one single post. Shopify Editions on Wednesday was fantastic! There are a bunch of B2B new features which I already showed to some clients and will save us a bunch of development time and costs. But today isn’t only about Shopify updates, we have other exciting news and insights to share so make sure you read it all and leave your feedback and ideas in the comment section.
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5 - PayPal First Look
In the competitive e-commerce landscape, PayPal's recent announcement of AI-driven innovations seems more reactionary than revolutionary. Despite being a once dominant player, PayPal's latest features, including a revamped checkout experience, AI-personalized receipts, and an updated consumer app, appear to lack originality and creativity. Critics argue that these updates are merely catch-up attempts to Shopify's more complete checkout offerings. PayPal's strategy suggests an underlying concern about its waning relevance in an industry where speed and innovation are key.
4 - Solar Energy is (finally) getting Online
The solar industry is increasingly recognizing the potential of e-commerce, a trend we've observed firsthand at our agency. In the past three months, there's been a noticeable surge in solar companies seeking robust B2C and B2B e-commerce solutions. This shift aligns with the industry-wide movement towards e-procurement, as highlighted by Kadeer Beg of Sunhub. With solar installations soaring globally, the demand for efficient, online procurement platforms is more pressing than ever. Our experience has shown that these platforms not only simplify procurement processes but also open up new avenues for competitive pricing and broader market access.
3 - Temu welcomes international sellers
Temu, an online retailer affiliated with Pinduoduo's parent company, is expanding its market by welcoming U.S. and European sellers onto its platform, a move confirmed by a company spokesperson and initially reported by Chinese media. Since its U.S. launch in 2022, Temu has quickly risen to prominence, outpacing apps like TikTok and Instagram in download charts, thanks to its low-priced offerings ranging from apparel to household goods. With over 100,000 China-based merchants, Temu claims its direct-to-consumer model eliminates middlemen, offering lower prices. However, this strategy has faced criticism for pressuring sellers on pricing and has attracted scrutiny from U.S. lawmakers over potential exploitation of trade loopholes and concerns about forced labor in its supply chain. Amidst growing tensions, Temu has engaged in legal disputes with rival Shein, highlighting the competitive and contentious environment of e-commerce.
2 - Ecommerce in Emerging Markets
The "Beyond Borders 2024" report by Ebanx forecasts a significant expansion in the digital economy of emerging markets, predicting an addition of 109 million consumers globally in 2024, with India leading by contributing 31%. This growth is outpacing that in developed regions, with e-commerce in emerging markets growing at a 20% annual rate. The report also highlights the vital role of cross-border transactions in economies like Latin America and predicts that emerging markets will account for nearly 40% of global B2B digital payments by 2027. This underscores the increasing influence of emerging markets in the global e-commerce landscape, presenting substantial opportunities for international digital growth and a more balanced global economy.
1 - Shopify Winter Editions 2024
Shopify's Winter Editions 2024 was a BANG! A treasure trove of over 100+ electrifying updates, supercharging the e-commerce experience for merchants and customers alike. For a quick digest of the few announcements from the Walkthrough Demo (video bellow), check out my impromptu summary here. Soon I’ll go into the most thrilling updates in my upcoming LinkedIn monthly blog post, unpacking how these advancements can skyrocket your business, so make sure you subscribe there to get it on your inbox. These editions were themed with the "Foundations" label for its to underline their commitment to enhancing the platform's core for merchants to build upon, focusing on essential features that support growth and innovation. This update solidifies the underpinnings of Shopify technology, reflecting their never ending efforts to democratise commerce and make it more accessible even for B2B and Enterprise companies.
App of the week: TheShop
This week I’ve had a very fruitful meeting with the founder of CEO of TheShop. I’m intrigued about their vision to make product management better and connecting external systems to Ecommerce platforms less chaotic and expensive. Definitely looking forward to test it out and see it in action!
Ecommerce Prague 2024 SOLD OUT!
We did it! 350 people are already making their plans to come to Prague on the 8th of February to learn about business internationalisation through Ecommerce. Not only that, but we’ve announced the final program for the whole event. Here’s what you can count with:
15:00 - 16:00 Registration
16:00 - 16:10 Opening
16:10 - 16:30 Lily Chen (SHEIN) [EN – Live Stream]
16:30 - 17:00 Petr Andrýsek (MADMONQ)
17:00 - 17:30 Jérôme Poussin (Maisons du Monde) [EN]
18:00 - 18:20 Alexandre Bonvin (Audacia) [EN – Live Stream]
18:20 - 18:40 Benjamin Lang (Shopify) [EN]
18:40 - 19:10 Štěpánka Vílová (Factcool)
19:55 - 20:15 Yildiray Bilcig (TePe) [EN – Live Stream]
20:15 - 20:45 Tomáš Braverman
21:00 - 22:00 Masterminds and guided networking
21:00 - 00:00 NOTINO Afterparty
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