🌀 Second-hand gifting in 2024🎁

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🌀This issue’s maze:

1. The Big Story 🧠 
Second-hand gifting in '24🎁 

2. Data 📊 
UK Slow returns impact 📦

3. News 📖 
🗞🇦🇺 Australia advances landmark social media law
🗞🇨🇳 Alibaba unites e-commerce platforms for growth
🚚🇺🇸 DTC brands boost Amazon stores for holidays
🚚🇭🇺 Budapest Airport emerges as e-commerce hub
🦄🇬🇧 Movopack raises $2.5M to launch in the UK
🦄🇳🇱 NORBr secures $3.2M to scale payment services

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

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Second-hand gifting in '24🎁

Second-hand gifting has transformed from a niche practice to a mainstream trend, driven by shifting consumer attitudes toward sustainability, value, and uniqueness. Insights from the DCMN Brand Tracker, Retail Economics/Vinted, and the OfferUp® Recommerce Report 2024 reveal a growing acceptance of pre-owned items as thoughtful and meaningful gifts.

🎁 Second-hand gifts capture holiday spending

60% of adults in the US, UK, and Germany embrace second-hand gifting, with strong adoption in each market.

Sustainability and value drive the trend, as eco-conscious and cost-savvy consumers lead the shift.

Recommerce platforms like OfferUp and Vinted make second-hand gifting easier and more trusted.

🇩🇪 Germans view second-hand as thoughtful

67% believe second-hand gifts can be as meaningful as new ones.

45% perceive a decline in the stigma associated with second-hand gifting.

30% prefer vintage second-hand items over new products.

🇬🇧 UK millennials lead second-hand gifting

60% of UK adults under 44 regularly gift second-hand items.

15% of young adults (18–24) gift second-hand "very often.

"Second-hand gifting significantly decreases among those over 55.

📚 Books and collectibles top preferences

76% are comfortable receiving second-hand books; 72% feel the same about collectibles.

Electronics and kitchen items are less favored, with around 45% acceptance.

Comfort with second-hand gifting aligns with cultural and sustainability trends.

Would you gift or receive second-hand items?

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UK Slow returns impact 📦

The Annual Returns Benchmark Report 2024 by ZigZag and Retail Economics highlights $10B worth of rapid UK e-commerce returns, driven by clothing and footwear, creating logistical and financial challenges for retailers.

📊 Rapid returns strain logistics

- The report found 82.8% of returns occur within 10 days of purchase.

- Over $10B in goods is returned annually, heavily impacting retailer margins.

- Fast-fashion leads return volumes, especially due to sizing issues.

🛍️ High-return categories

- Clothing and footwear have return rates exceeding 50%, far above other categories.

- Furniture and electronics, with higher average order values, see fewer returns but still costly ones.

- Homewares and DIY items have lower return rates, reflecting practicality and fewer sizing concerns.

📦 Returns reshape online sales

- Returns now account for 20% of all non-food online sales in the UK.

- Clothing contributes $38B to annual returns, while home goods add $27.3B.

- Only $102.2B of goods are kept, highlighting the scale of reverse logistics.

👥 Shoppers drive return costs

- Just 11% of shoppers generate 42% of total returns, making them a costly segment.

- Efficient and occasional returners are less burdensome for operations.

- Retailers are exploring strategies to mitigate costs, such as improving sizing accuracy.

Should retailers charge for returns to stay profitable?

🇨🇳 Alibaba unites e-commerce platforms for growth. Alibaba formed a unified e-commerce group, combining Taobao, Tmall, Lazada, and others. The move enhances supply chain synergies, global market access, and AI integration. Alibaba aims to boost SMEs and drive 29% annual revenue growth internationally.

🇦🇺 Australia advances landmark social media law. Australia's House of Representatives passed a bill banning children under 16 from social media. Platforms like TikTok and Instagram face $33M fines for violations. The law awaits Senate approval but faces criticism over privacy and enforcement.

🇺🇸 DTC brands boost Amazon stores for holidays. Direct-to-consumer (DTC) brands are promoting Amazon stores to guarantee holiday deliveries. With tight shopping timelines, brands like Geologie, Foria, and Manscaped use strategies like Prime's two-day shipping to attract last-minute shoppers.

🇦🇪 ChannelEngine partners with Aramex for growth. ChannelEngine and Aramex announced a partnership to expand marketplace access in the Middle East. The collaboration combines ChannelEngine’s integration platform with Aramex’s logistics expertise, streamlining e-commerce operations and enhancing reach.

🇨🇳 Temu undercuts Amazon with 20% price advantage. Temu's pricing cuts Anker headphones by 20% below Amazon. Temu's strategy of no fees helps sellers maintain profits. Meanwhile, Huakai Yibai's Q3 revenue from Temu hit $12.64M, though profits dipped 40% due to rising costs.

🇩🇪 GameStop Exits Germany, Shutting 70 Stores. GameStop is closing all stores in Germany by January 2025, affecting 500 employees. The exit follows closures in Ireland and Switzerland. Online pre-orders for 2025 titles remain uncertain. Shifting gamer habits drive GameStop's struggles.

🇭🇺 Budapest Airport emerges as e-commerce hub. Budapest Airport processes 95M parcels in 2024, 95% from China. Key platforms like Temu and SHEIN rely on its Ferihegy terminal for Central European distribution. Logistics firms thrive, but parcel operators face challenges with the growing volume.

🇺🇸 CIRRO Fulfillment boosts returns efficiency. CIRRO Fulfillment teams up with Loop to enhance returns for retailers. With Loop’s portal, customers can handle returns faster, saving time and costs. This partnership supports over 4,000 brands, improving logistics and customer satisfaction globally.

🇩🇪 DPD Germany expands parcel lockers in 2025. Starting 2025, DPD Germany will expand its cooperation with myflexbox, rolling out over 1,000 parcel stations nationwide. This partnership boosts DPD’s out-of-home strategy and aligns with GLS to offer 20,000 points by 2027.

🇬🇧 Movopack raises $2.5M to launch in the UK. Italian firm Movopack raised $2.5M to launch circular e-commerce packaging in the UK. Backed by 360 Capital, the funding supports eco-friendly solutions as EU rules tighten on packaging. Movopack's reusable design cuts CO₂ by 84%, with Royal Mail as a partner.

🇳🇱 NORBr secures $3.2M to scale payment services. NORBr, a Dutch payment infrastructure provider, secured $3.2M in funding led by Alstin Capital. The funds will enhance NORBr's no-code platform, enabling faster payment integrations, boosting PayOps efficiency, and supporting global market entry efforts.

🇮🇳 ShopDeck raises $8M to expand D2C solutions. ShopDeck raised $8M in funding led by Bessemer Venture Partners. The funds will expand its AI tech, grow its team, and improve services for small sellers in India's tier-2 and 3 cities. Founded in 2018, it competes with Shiprocket and Shipway.

🇦🇺 Fresho raises $17M to expand into the US. Fresho, an Australian food order platform, raised $17M in Series B funding to expand into the US and boost AI-driven solutions. Led by Geoff Tarrant, Fresho plans to revolutionize fresh food supply chains with advanced technologies and global reach.

🇸🇪 Wonderboo launches a fresh e-commerce platform. Wonderboo unveils a sleek e-commerce platform with a new logistics partner. CEO Alexander Duimovich promises faster, smoother shopping. The launch marks a step toward better customer experience for the Swedish dog food company.

🇳🇱 Cargoplot raises $4.2M to optimize logistics. Cargoplot raised $4.2M to enhance logistics for e-commerce. Led by Ubbo Hempenius, the funding will help the Dutch platform provide real-time insights, improve supply chain transparency, and support businesses globally. Founded in 2021, it’s growing fast.

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