🌀 Holiday Shopping 2024 ☃️

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Welcome to MarketMaze, the #1 newsletter for staying on top of the latest in Marketplace and E-commerce. Get all the insights you need in just five minutes a week!

🌀This week’s maze:

1. The Big Story 🧠
Holiday Shopping 2024 expectations ☃️

2. Data 📊
Ecommerce divides Europe 🛍️

3. News 📖
🗞🇺🇸 Google Shifts Search Ads Beyond Keywords
🗞🇺🇸 Etsy overhauls leadership with key promotions
🚚🇩🇪 DHL buys majority stake in Brandpath Group
🦄🇨🇳 Alibaba invests $73.5M in Korea's Ably
🦄🇺🇸 Walmart finalizes $2.3B Vizio acquisition

+ over 15 other hot news from the last week you need to know 🔥

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Holiday Shopping 2024 expectations 💼 

Holiday spending to grow 2.5%-3.5%, hitting $979-$989B. NRF and Bain surveys highlight rising e-commerce and cautious shoppers. Retailers face challenges as trends favor personalization and tech-driven inspiration.

🎁 Resilient Spending Drives $989B Forecast

Holiday spending will grow 2.5%-3.5%, reaching $979-$989B, according to NRF.

Growth is driven by middle- and upper-income households, despite inflationary pressures.

Over 50% of shoppers plan to delay purchases into November, complicating inventory planning for retailers.

📈 E-commerce Thrives Amid Declining Retail

E-commerce is expected to grow 5%+, fueled by convenience and competitive pricing.

Traditional retail sectors, including department stores and furniture, will face declines of 1%-5%.

Retailers offering seamless omnichannel solutions are outperforming brick-and-mortar-focused competitors.

🎀 Gift Trends Reflect Media Influence

Clothing (54%), gift cards (44%), and toys (36%) are the top gifting categories, showcasing practicality and sentimentality.

Over 25% of shoppers under 30 are using TikTok and Instagram for gift inspiration, increasing demand for trendy items.

Experiential and personalized gifts are gaining traction across various age groups.

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E-commerce divides Europe 🛍️

E-commerce divides Europe, with the Netherlands leading at 88%. Eurostat's data highlights stark contrasts in online shopping. Western Europe excels, but many Southern and Eastern regions fall short.

📊 Adoption Rates by Region

• In 2023, 21 EU regions saw at least 80% of people shopping online, with 11 in the Netherlands, 4 in Sweden, and 3 in Denmark. The highest rates were in Dutch regions like Utrecht (87.8%), Noord-Holland (86.4%), and Overijssel (85.9%).

• By contrast, 20 EU regions had less than 35% online shoppers, including 6 in Romania, 5 in Italy, and 5 in Bulgaria. Only 2 regions had fewer than 20% – Yugoiztochen, Bulgaria (19.8%), and Guadeloupe, France (18.7%).

• The EU average stands at 58.1%, with most Central and Southern regions in the 45–67.5% range, highlighting a middle ground in e-commerce adoption.

🇺🇸 Google Shifts Search Ads Beyond Keywords. Google is testing keywordless search ads, replacing traditional keywords with search themes and audience signals. Advertisers can input themes like “recliners” instead of bidding on keywords. The full launch may come in 2025.

🇺🇸 Etsy overhauls leadership with key promotions. Etsy promotes Kruti Patel Goyal to chief growth officer, names Lanny Baker CFO, and appoints Brad Minor as CMO. The shakeup follows mixed Q3 results, including $662.4M in revenue but a $30.5M net income drop.

🇫🇷 Mirakl leads marketplace development in 2024. Mirakl named leader in Forrester Wave™ Q4 2024 report. Recognized for AI, Retail Media, seller onboarding. Helps businesses like Saks and Coca-Cola Hellenic innovate with marketplaces. Scored highest in 21 of 33 criteria, simplifying eCommerce growth.

🇺🇸 Alibaba’s Pic Copilot targets US SMEs. Alibaba launches Pic Copilot in the US, an AI design tool for SMEs. It enhances imagery, supports virtual try-ons, and saves $200/user. Black Friday users generated 80K images, boosting sales. Now offers 50 free credits for US SMEs.

🇳🇱 Mollie and PayPal team up for EU payments. Mollie and PayPal join forces to simplify marketplace payments across Europe, offering seamless options like BNPL, local methods, and gift cards, with reduced operational costs through Mollie Connect’s streamlined support and integration.

🇩🇪 DHL buys majority stake in Brandpath Group. DHL acquires a majority stake in Brandpath Group, a cross-border eCommerce fulfilment provider. The deal offers access to DHL's global logistics network and infrastructure, enhancing services for SMBs worldwide.

🌏 FedEx boosts Asia-Europe trade connectivity. FedEx’s new flight connects Asia, India, and Europe faster. It runs 5 times weekly, cutting delivery time by a day. Businesses in tech, auto, and e-commerce will benefit from quicker and seamless logistics.

🇨🇳 Alibaba invests $73.5M in Korea's Ably. Alibaba invests $73.5M in Korea’s Ably to expand globally. Ably, with 8.8M users and $752M revenue, targets Europe. Alibaba sees the deal as strategic, marking its first Korean e-commerce stake. It competes with Pinduoduo and ByteDance.

🇺🇸 Walmart finalizes $2.3B Vizio acquisition. Walmart completed its $2.3B purchase of Vizio to expand its ad business. Vizio’s TV and WatchFree+ streaming tech will integrate with Walmart Connect, positioning the retailer as a strong competitor in the connected TV ad space.

🇩🇪 Fressnapf finalizes Arcaplanet acquisition. Fressnapf acquires Italian pet chain Arcaplanet, adding 560 stores and $760M in sales. Cinven, Arcaplanet's former owner, becomes a minority shareholder. The deal strengthens Fressnapf's European leadership in pet supplies.

🇩🇪 The Platform Group acquires CHRONEXT Group. The Platform Group acquired Chronext on Nov 28, 2024, expanding its luxury watch platform. Chronext's 175K+ global customers and $10K average order value align with TPG's vision for platform-based growth. New plans roll out in 2025.

🇺🇸 Enterpret secures $20.8M to fuel AI growth. Enterpret, an AI feedback intelligence startup, raised $20.8M in Series A led by Canaan Partners. Investors like Kleiner Perkins, Peak XV, and others joined. The funds will scale their no-code AI agents and grow customer-centric solutions.

🇨🇮 HUB2 raises $8.5M to unify Francophone payments. HUB2, an Ivory Coast fintech, raised $8.5M to unify payments in Francophone Africa. Partnering with mobile providers, it aims to simplify transactions via an API. Operating in six nations, HUB2 targets full regional coverage by 2026.

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