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TikTok Shop joins Amazon in holding a July sale: The marketplace hopes exclusive discounts on brands like L鈥橭r茅al and live-shopping events will boost GMV.

JD.com similarly highlighted a more than 20% YoY increase in shoppers but refrained from releasing statistics on GMV or buyer numbers. However, both were clear that Beijing鈥檚 trade-in subsidies are boosting demand for home appliances and other electronics. JD.com noted that transaction volumes for 519 home and appliance categories rose 200% YoY.

Temu鈥檚 gross merchandise value (GMV) reached $20 billion in the first half of 2024, surpassing last year鈥檚 $18 billion, per a Chinese media report. Its app was the most downloaded among Gen Zers ages 18 to 24 in the first 10 months of the year, beating out TikTok and Threads by a considerable margin, per Appfigures data cited by Business Insider.

(However, this isn鈥檛 a perfect comparison with credit card issuers鈥擪larna calculates its loss rate as a fraction of GMV rather than loans). Despite losses from the BNPL industry remaining low, it doesn鈥檛 mean BNPL habits aren鈥檛 a cause for concern.

In Q3 2024, Shop Pay facilitated $17 billion in gross merchandise value (GMV), up 42% YoY. Much of this growth is likely from a bump in the number of Shopify merchants and an increase in their sales. But Shopify has also been expanding Shop Pay acceptance outside of its ecosystem, adding to this growth.

Gross merchandise volume (GMV) grew 14% year over year (YoY), items sold rose 28% YoY, and unique buyers increased 21% YoY鈥攖he fastest growth since the pandemic began. GMV grew 34% YoY in Brazil and 27% YoY in Mexico. Items sold grew 16% YoY in Argentina as consumption patterns trend in a positive direction. Advertising revenues grew 37% YoY, well ahead of GMV.

US gross merchandise volume (GMV) grew 13.6% YoY, a stark contrast to LVMH鈥檚 stagnation during the same quarter. How we got here: Mytheresa has bucked slowing demand by focusing on the top tier of luxury consumers whose affluence insulates them from economic uncertainty and price hikes.

The platform鈥檚 popularity with Gen Z shoppers, investments in live shopping, and well-timed promotional events that coincided with Amazon鈥檚 July and October Prime sales put TikTok on the path to achieve its ambitious target of $17.5 billion in US GMV.

And the card鈥檚 annualized gross merchandise volume (GMV) per user grew from $2,500 to over $3,000. And the card鈥檚 growth will also propel the BNPL player鈥檚 overall volume: We expect Affirm鈥檚 US BNPL payment value will total $30.58 billion in 2025.

In our inaugural forecast, Xiaohongshu鈥攁 beauty and lifestyle social media platform鈥攚ill generate a gross merchandise value (GMV) of $31.41 billion, up 50.0% in 2024 versus 2023. Retail livestreaming has reached a major milestone. This year, for the first time, livestreaming will account for 25.4% of retail ecommerce spending.

Still, we expect its US marketplace sales to grow 136.5% this year to $19.39 billion鈥攅xceeding its total GMV in 2023. Go further: Read our report on The US Online Marketplace Shopper.

Beauty and personal care accounted for 22.5% of TikTok Shop鈥檚 gross merchandise value (GMV) as of November 2024, per AfterShip data. TikTok leads social platforms for beauty purchases. More than 44% of social shoppers had made a beauty purchase via TikTok, per our US Social Commerce survey conducted in March 2024, just six months after TikTok Shop launched.

Douyin鈥檚 gross merchandise volume (GMV) grew by 46% year over year (YoY) in the 12 months ended July 2024, according to Wei Wenwen, the short-video platform鈥檚 president of ecommerce. Pinduoduo parent PDD Holdings grew revenues by 86% YoY in Q2, although a considerable portion of that growth likely came from Temu鈥檚 breakneck overseas expansion.

Alibaba was the world鈥檚 No. 1 digital retailer in 2021 with $1.249 trillion in ecommerce gross merchandise value (GMV). Amazon ranked No. 2, with ecommerce GMV of $602.0 billion, while JD.com and Pinduoduo took No. 3 and No. 4, respectively.

Recognizing the threat of such an action, Temu laid the groundwork for a strategic pivot by building up a significant seller base in the US: Products shipped from US warehouses now account for about 20% of Temu鈥檚 US GMV. Shein could send more of its low-cost goods to US warehouses from China to decrease the distance items need to travel once a customer hits the buy button.

But growth in the October sale鈥檚 YoY gross merchandise value (GMV) will be on par with Amazon鈥檚 full-year ecommerce growth (10.4%) and ahead of its holiday season sales growth (9.1%). Click here to view the full forecast for Amazon鈥檚 October sales event. But competitors may gain more from early sales events.

TikTok Shop doubles down on livestreaming as ecommerce sales grow: The platform sees an opportunity to grow order frequency and drive more impulse purchases.

They had planned a 10x, their US GMV in 2024, and I think it's realistic that they could have set a similarly ambitious target for 2025. Essentially the TLDR here is that China's economy is wobbly enough that its poobahs are going to make sure not to do anything that might further imperil its manufacturers and exporters. So I think that they're going to allow TikTok to remain in the United States.

This includes gross merchandise value (GMV), comprising direct sales and third-party marketplace sales. Worldwide, marketplace sales will account for close to two-thirds (65.9%) of Amazon鈥檚 total retail sales by the end of 2023, according to our estimates. The company鈥檚 sales in Canada are up threefold from five years ago.