Etsy to acquire second-hand fashion platform Depop; Amazon launches points campaign for Prime Day

Etsy to acquire second-hand fashion platform Depop for $1.625 billion

According to foreign media reports, Etay will acquire the second-hand fashion platform Depop for US$1.625 billion. The final agreement has been signed and the acquisition is expected to be completed in the third quarter of 2021.

Depop was reportedly founded in 2011 as a second-hand fashion e-commerce platform. In 2020, Depop's gross merchandise sales (GMS) and revenue were approximately US$650 million and US$70 million, respectively, both up more than 100% year-on-year. From 2017 to 2020, Depop's GMS grew at an average compound annual growth rate of nearly 80%.

Amazon launches points promotion for Prime Day

Amazon's US site announced that from June 7 to 20, 2021, Amazon will launch a Prime Day consumer points rebate event for buyers. This move is aimed at supporting small sellers.

Prime members who spend $10 at small sellers will receive a $10 promotional credit, which can be used to purchase any product from any seller during Prime Day. An additional 10% cashback can be obtained by using an Amazon Rewards Visa card or Amazon Prime membership card to place an order at a small seller. Amazon is expected to invest more than $100 million in this event.

eBay and StoreON partner to help Latin American SMEs export

Recently, eBay announced a partnership with StoreON, a Colombian e-commerce service center, to help Latin American small and medium-sized enterprise sellers export their products to all parts of the world, especially the United States.

It is reported that the epidemic has forced thousands of small and medium-sized enterprises in Latin America to shift their businesses to online businesses, and they need additional help to increase sales. To this end, as one of the world's largest e-commerce platforms, eBay has partnered with StoreON to help Latin American small and medium-sized enterprise sellers increase their global visibility and sales.

BigCommerce Expands Online Commerce Platform with B2B Edition

It is reported that BigCommerce, a professional foreign trade e-commerce independent station building platform based on SaaS, has launched its B2B version, which is conducive to enhancing the sales experience of B2B enterprise sellers. It is reported that the B2B enhanced version is the latest enhancement launched by BigCommerce after it went public last year to attract a larger user group.

It is understood that by 2023, US B2B e-commerce transactions are expected to reach $1.8 trillion, accounting for 17% of all B2B sales in the country. By 2025, 80% of B2B sales between business sellers and business buyers will come from online.

eBay launches authenticity verification service for luxury bags

It is learned that eBay's luxury bag sales in the first quarter broke a new high. eBay announced the launch of a luxury bag authenticity verification service. Starting today, new and second-hand bags from 16 famous luxury brands (including Saint Laurent, Gucci, Celine, Balenciaga, etc.) priced over $500 will be professionally authenticated.

After eBay launched the authenticity verification service for luxury watches over $2,000, it launched the service for sneakers over $100 at the end of 2020. After the implementation of the authenticity verification program, eBay's sneaker business has grown at a triple-digit rate for several consecutive quarters, and its watch business sales in the first quarter of this year have also accelerated from 16% to 38%.

South Korea's online shopping transaction volume in April was 15 trillion won, up 25% year-on-year

On June 3, according to Yonhap News Agency, preliminary statistics released by the Korea National Statistical Office on the 3rd showed that the total amount of online shopping transactions in South Korea in April increased by 25.2% year-on-year to 15.0904 trillion won, exceeding 15 trillion won for two consecutive months.

In April, online shopping accounted for 27.7% of retail sales. Meanwhile, mobile transactions increased by 34% year-on-year to 10.7303 trillion won. Mobile transactions accounted for 71.1% of total online shopping transactions, up 4.6 percentage points year-on-year.

Spanish shopping app download rankings released, AliExpress surpasses Amazon to rank first

Smartme Analytics recently released an analysis report on Spanish shopping apps for the first quarter of 2021. The report surveyed the usage of shopping apps among 7,000 smartphone users in Spain and counted the top ten shopping apps in terms of downloads.

The report shows that AliExpress has become the most popular shopping app in Spain with 62.5% of downloads, and it is also the app with the largest growth, with downloads increasing by 7.8% year-on-year. Amazon ranks second with 58.1% of downloads, an increase of only 0.4% year-on-year. In addition, second-hand shopping apps are also very popular. Wallapop ranks third with 50.8% of downloads and a growth rate of 0.4%.

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