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Dear Readers,

It's the middle of July, so what are the three questions on my mind this week?

1. Can anyone please tell or convince me that Prime Day, over four days, was a success? Bloomberg decided that an article on the first day's result was a good idea, but I tend to believe that consumers waited until the last day to see all the deals before making any purchases. Days one and two were down. Extending events leads to dilution of demand from consumers. In China, marketplaces are simplifying and shortening shopping holidays.
2. A trend I am starting to see is that private equity-owned companies are beginning to acquire AI-based bolt-ons. Is this a good thing or desperation by PE funds to help their assets scale and then sell? I suspect that we will see a lot of PE money going into logistics and CPG, which will start buying AI companies that need an exit.
3. Did multinational marketplaces such as Alibaba, Amazon, and others miss out on the Middle East? I ask because the Jahez acquires a 76.56% stake in Qatar’s Snoonu in a $245 million deal, which features entrepreneurs and investors, but there's no mention of Western investment or technology. I wonder if this is a second-order effect of the success that Delivery Hero has had with Talabat that has led to this acquisition?

I would like to thank all the readers who take the time to reply to this email (I spend a considerable amount of time creating this newsletter) and appreciate any comments, even if you disagree with me. All comments are confidential and are not disclosed.

If you'd like to help me, please share this newsletter so I can expand my list.

​Onwards, Hendrik

Marketplaces

Africa

​Jumia replatforms its retail media program to Mirakl Ads to enhance marketplace advertising. Temu launches warehouse in South Africa. For China’s Cross-Border Retailers, Africa Is the New Southeast Asia. Takealot is bringing more exclusive early “Black Friday” deals. MaxAB-Wasoko bets on fintech over ​e-commerce in push for profitable growth across Africa.

China

China’s ‘instant commerce’ price war sees $0.30 drinks and billions in subsidies doled out. - CNBC​

Competition between these companies has intensified this year, with all three expanding their delivery networks and pledging billions in subsidies to merchants and consumers.

​Can JD.com Win Abroad Without Playing Temu's Game? Meituan hits new record with 120M daily delivery orders. JD.com’s $1.4 billion plan heats up on-demand delivery battle with Meituan and Alibaba. Richard Liu and 20 things he wants you to know about JD.com’s future.

​Pinduoduo seizes Meituan's exit to boost group buying amid market challenges. Pinduoduo's split from SF Express sparks logistics chaos: 4-hour queues at pickup points. Shein files for Hong Kong IPO to save London listing, FT reports. Taobao Instant Commerce and Ele.me orders top 80 million a day. Cainiao, STO partner on driverless delivery.

Europe

​Amazon and GoPuff launch 15-minute grocery deliveries in the UK. TikTok Shop sees EU summer sales surge. AliExpress launches hourly delivery in the UK. ASA Ruling on GoBrands Euro Intermediate Holdings SARL t/a GoPuff. Wolt now sees itself at €5 billion in local commerce [in German] Temu opens Nordic door as furniture firms eye broader European reach. Temu attacks: The online discount giant would also break into the European food market. Wildberries Begins Testing AI Shopping Assistant on its Marketplace. Wildberries pilots its own taxi service in Belarus.

P2P retail sales platform Bought acquires Netflea. Online marketplace Apoc Store opens its first shop in London. CarOnSale raises €70M in Series C funding. EU targets low-value imports via e-commerce platforms.

India

​Flipkart takes quick commerce beyond metros, aims for 800 dark stores. Flipkart brings smartphone exchange to quick commerce; scales Prexo and Recommerce. Flipkart Ventures launches Leap Ahead 4.0 to back early-stage startups, Flipkart to buy back $50M in employee stock; 7,500 staff may benefit. Zepto is in advanced ​talks to raise $450-$500M at a $7B valuation: Report.

Amazon’s Quick Commerce Offering Now Live In Delhi. Quick Commerce Battle: Blinkit, Instamart Gain Market Share In Q1. OLX India launches Elite Buyer plan to improve second-hand deals.

Pakistan

Pakistani e-commerce startup Bazaar acquires payments leader Keenu as it pushes into fintech, eyes profitability.

Latin America

​TikTok Shop joins Shein, Temu in LATAM push. Correios launches its marketplace with 500,000 products [in Portuguese]. Pandora embraces the marketplace and joins Mercado Libre [in Portuguese]. Shopee sells twice as much as Black Friday 2024 during 7.7 [In Portuguese].

Middle East

Saudi Arabia's fast-growing startup Ninja secures SAR 1 billion ($250m) funding. Jahez acquires 76.56% stake in Qatar’s Snoonu in $245 million deal. Tamara to provide BNPL payment services to Amazon in the Middle East.

South East Asia and Australia

​Alibaba boosts South Korea's B2B market with Trade Assurance and local support. Korean e-commerce turns outward amid China’s pressing market incursion. Lazada launches overseas solution for medium and large items in Malaysia, Philippines, and Singapore [In Mandarin]. Shopee has a record 7.7 Event [In Mandarin].

JD.com has bought its first logistics hub in Australia. Australian delivery app Easi wronged its new owner (HungryPanda). Bunjang expands into Singapore. British court finds Planned Fare Hike for Indonesia Ride-Hailing App Drivers May Backfire, Economists Warn.

US

​eBay Tests Extended Bidding For Trading Card Auctions - Will Sniping Be A Thing Of The Past? Billy McFarland Is Now Trying to Unload the Fyre Fest Brand on eBay. Lovevery launches secondhand ‘Pre-loved’ marketplace for popular toys. eBay Free-Return Mandate Rolls out in Automotive Parts & Accessories. eBay and Etsy fees raised on Sunday, thanks to USPS. Amazon ups maximum box length for FBA orders.

​99 Ranch Market Links With Temu to Grow E-Commerce Business. Seattle startup (Gone.com) raises $6.3M to pick up your used stuff for free — and turn it into a resale marketplace. DoorDash slams Seattle over driver deactivation law, adds new service fees. Flagship will shutter its marketplace, citing creator disinterest.

Competition Bureau advances investigation of Amazon’s Marketplace Fair Pricing Policy in Canada. Federal Trade Commission Warns Companies to Comply with “Made in USA” Requirements.

One big Thought

We Need To Talk About AI Commerce

Is software going to eat e-commerce? Some thoughts on a topic that is getting a lot of press.

​

Luxury Commerce

The Way Forward for Luxury Starts at the Core: Re-Center on Top-Tier Clients and Its Fundamentals. - BCG

For the first time in over a decade (pandemic aside), the personal luxury market is facing a lack of growth. Aspirational consumers, who now make up 60% of the market, are reducing or pausing their spending, while the wealthiest top-tier clients have reaffirmed their position as the key engine of long-term growth.

Bain: Luxury loses 15 million shoppers as China and US falter. After Beyoncé's boost, Wharton alum seeks investors for luxury handbag brand.

​GCC luxury market has defied global slowdown, says Chalhoub Group’s Jasmina Banda. Why Singapore is emerging as key launchpad for luxury retail in Asia. Birks Group Completes the Acquisition of the Watch and Jewellery Business of European Boutique and Related Debt Financing Amendments. LVMH Set To Sell Its Only U.S. Hotel, the Belmond El Encanto. Heron Preston Buys Back Brand From New Guards Group. Louis Vuitton UK shopper data stolen in cyber attack. Mulberry confirms £20m fundraising amid widening losses.

Fashion and beauty e-commerce

​How AI is driving more online sales for Kendra Scott. VC-Backed Startups That Stitch AI And Fashion Together See Strong Investor Interest. E-commerce in Australia: Will Our Brands Be Overpowered by Global Giants?

​Birkenstock cracks down on fakes in India, court-ordered factory visits held, sources say. Douyin vs. Taobao Rankings Spark Cosmetics Industry Debate in China. Zalora names new CEO. Nike Appoints New Converse CEO. Adidas debuts pet collection on Tmall. Glossier to join TikTok Shop. Secret Sales acquires Vroom & Dreesmann (V&D) and To Be Dressed. New-Off Gets Seed Investment for Secondhand Clothing Service, H&M unveils physical stores and e-commerce in Brazil. Zalando partners with Circ on recycled fashion. Designerex acquired by Queensland-based Sarai family.

AI and Commerce

AWS is launching an AI agent marketplace next week with Anthropic as a partner. - TechCrunch​

The AWS agent marketplace launch will take place at the AWS Summit in New York City on July 15, two people familiar with the development told TechCrunch.

Persuasion Isn't Dead - Susan Shipton​

A good read. In the future, most product stories will have to travel along two parallel tracks before a purchase happens. I’m calling it dual-track persuasion..

​Meta invests $3.5 billion in EssilorLuxottica for its AI glasses push. Tencent Cloud and forGIFT Join Forces to Transform Virtual Fitting in Japan's Fashion Industry. Wave Function has invested in Packsmith.ai,​

​Shopware Launches Agentic Commerce Alliance. The Smart Glasses Gold Rush, Explained ($) Condé Nast and Hearst strike Amazon AI licensing deals for Rufus. Wholesome Goods Acquires Avalanche AI to Power E-Commerce Innovation. New Gen Unveils AI-Native Storefronts with Embedded Payments to Power Agentic Commerce. Amazon considers another multibillion-dollar investment in Anthropic, FT reports.

Advertising

Tourism NZ launches e-commerce campaign via Amazon Ads, Mindshare. - Mi3

A custom storefront has been developed, featuring over 120 exclusive travel deals. These deals encompass flights, accommodations, transportation, packages, and experiences, offering a comprehensive range of options for travelers. Amazon wants access to large budgets.

How Alaska Airlines found a $100M revenue opportunity with Google’s Meridian. - Marketing Dive​

Alaska Airlines and consultancy Adswerve have found a projected increase of addressable advertising revenue that could be worth up to $100 million — an 11% projected increase — by using Google’s open-source Meridian marketing mix model (MMM).

Why HUL Slashed Traditional Ads Yet Spent 40% More on Influencers in India. The TikTokification of retail media: Why short-form video will become the new standard in commerce advertising. Google Ads data shows query length shift post-AI Mode.

Google Ads With Nearby Hotel Placement Units. Target’s Roundel Rolls Out New AI Ad-Buying Tool. Snapchat partners with American Eagle on new map promotion type. Google brings its AI-powered marketing tools to India after ‘Google tax’ repeal.

Logistics is sponsored by Third Person - a new way for brands to discover 3PLs

The mirage of tech panaceas: why route optimization, drones, and AI can't fix a broken business model. Parcels drive 2% global revenue gain for postal operators.

Who is driving J&T Express’s volume surge in 2025? Alibaba’s Cainiao, STO Express forge autonomous vehicle alliance. E-commerce boom: How Chinese freight forwarders are adapting to small package shipping.

CCI Approves Kedaara Capital's Stake Acquisition In Porter. Outpaced and outbid: the squeeze on Southeast Asia’s ecommerce 3PLs.

​TruKKer Secures $15M from Ruya to Support Regional Expansion. Filics secures €13.5M to bring space-saving robotics to more warehouses across Europe. Augmentus secures US$11M Series A+ to scale no-code robotics. InPost acquires Sending [in Spanish]. Logistics startup Leta launches in Ghana. RedBox targets 10,000 smart lockers across MENA by 2030. Passport expands to the UK. Parcel provider Deliver It shuts down.​

Consumer

How to Survive a Million-Dollar Loss. Practical E-commerce​

Beardbrand experienced a significant loss of nearly $1 million across 2023 and 2024. I’ll recap how we managed to survive our worst years in business while remaining 100% bootstrapped. It got bad. Our cash levels dropped to where they were in year one, 2014. We were hemorrhaging money.

​Federalism and Alcohol: A Resurgence of State Power to Regulate Alcohol in E-Commerce on Granholm’s Twentieth Anniversary. Helen of Troy reported a loss in the fiscal first quarter.

Luckin Coffee: From China’s Starbucks Slayer to a U.S. Newcomer. Kirk Tanner was named the new president and CEO of The Hershey Company. New Virginia law protecting reproductive health data prompts Walmart’s online pop-ups. Ferrero Rocher owner to buy cereal giant WK Kellogg in $3.1b deal. ​Captain Fresh Transforms into Public Entity.

A Fake Too Far? Chinese Toy Maker Pop Mart Moves to Trademark Lafufu.

US grocery app allows for real-time price comparison. Gopuff Taps Into viral trend with the launch of 6 7 Water. Aldi Enters E-commerce Space in Australia. Argos integrates an AI-powered visual commerce tool into product pages. REWE pick-up service expects 10 orders per day per store [in German]. Le Coq Sportif sold in bankruptcy proceedings.

DTI unveils E-Commerce Trustmark in the Philippines. Healthy food startup Khetika raises $18M. Ele.me co-founder launches senior travel startup, raises over $13M in Series A funding. OneText raises $4.5M to reinvent shopping by text.

Payments

Saudi Central Bank (SAMA) launched a new e-commerce payments interface. UAE’s Network-Magnati merger forms giant GCC payment player.

Stats and Other Interesting News

E-commerce in Spain increases by over 13%. Germany introduces a mandatory cancellation button. Kazakhstan’s E-Commerce Market Soars 42%, Hits Record $6 Billion in 2024, Azerbaijan earns spot on global e-commerce map. Parspec raises $20M Series A.

The content here is for informational purposes only and should NOT be taken as legal, business, tax, or investment advice. It does NOT constitute an offer or solicitation to purchase any investment or a recommendation to buy or sell a security. The content is not directed to any investor or potential investor and may not be used to evaluate or make any investment.

This was edition number 320, sent on 13 July 2025.