🌀 What drives B2C ecommerce growth in Europe? 🏎️

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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 🧠 
What drives B2C ecommerce growth in Europe? 🏎️

2. Data 📊 
German Retailers' Expectations Toward AI🤖

3. News 📖 
🛒 🇺🇸 Amazon delivers with drones in Phoenix area
🛒 🇨🇳 Alibaba brings Singles’ Day shopping to US buyers
👗 🇩🇪 Zalando’s Q3 revenue up by 5%, hits $2.5B
👗 🇪🇺 Shein's Europe Sales Surge 68% in 2023
🍔 🇩🇪 Delivery Hero raises FY 2024 revenue forecast
🗞🇪🇺 Apple faces hefty fines under EU’s strict DMA rules
🗞🇺🇸 Mozilla lays off 30%, drops advocacy division
🦄🇱🇻 Printful merges with Printify amid market hurdles

+ over 25 other news from the last week you need to know 🎁

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The 2024 European E-commerce Report from Eurocommerce reveals new data on rising online sales and shopper behavior across the EU, highlighting critical growth areas and internet adoption rates. B2C turnover is expected to hit €958B in 2024, an 8% rise from 2023. Post-COVID, the sector grew by 2% after a 15% boom during the pandemic. Growth is stabilizing as e-commerce returns to a normal pace.

EU population and internet users continue to rise.

71% of e-users are now e-shoppers, growing every year.

Spending per shopper increases to €3.2K in 2024.

2023 marks 90%+ internet penetration in the EU.

Top countries like Norway and Netherlands near full coverage.

Some regions, like Ukraine and Greece, still lag behind.

E-commerce adoption lags in Poland (64%), Greece (58%), and Italy (50%).

Northern Europe sees near-full e-shopper penetration.

A significant gap exists between developed and developing EU markets.

Categories like Electronics and Food show growing interest.

Clothing and Multimedia dominate online shopping with 48% and 36% penetration.

Emerging categories, including Toys and Sports Gear, present new opportunities.

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EHI Retail Institute (surveyed nearly 200 German retail executives on AI's role in the sector. This study reveals strong AI awareness and optimism, with key insights on adoption barriers and plans for near-future investments.

E-commerce, IT, marketing, logistics, and category management are the top areas for Gen AI adoption.

95.5% agree Gen AI will significantly impact e-commerce.

Retail companies are focusing AI on operations and customer-facing services.

80% are familiar with AI, but 22% don’t understand generative AI.

60% have a rough understanding of generative AI, and 18% are unaware of the term.

A knowledge gap exists for generative AI despite strong AI awareness.

80% plan to invest in AI within two years, highlighting its importance.

59% expect AI to have a larger impact in two years, with 77% seeing it as key beyond five years.

Companies are preparing for AI-driven growth with near-term investments.

Key barriers to AI adoption include staff shortages, privacy concerns, and deadlocked processes.

30% cite staff shortages as a significant obstacle to AI.

Privacy and regulatory challenges, especially EU regulations, are major hurdles.

🇺🇸 Amazon delivers with drones in Phoenix area, offering one-hour delivery for over 50,000 items. The MK30 drone, quieter and rain-resistant, will operate in daylight and favorable weather. The rollout adds to Amazon's Texas operations, while the U.K. and Italy launches are expected by year-end.

🇨🇳 Alibaba brings Singles’ Day shopping to US buyers for the first time, launching major sales on November 8 and running through November 18. Americans can expect discounts up to 90% on tech, home goods, and more. AliExpress aims to offer shoppers an early-season alternative to Black Friday. AliExpress is also inviting US-based merchants to join the platform, with no onboarding fees in an introductory offer.

🇬🇧 AliExpress offers UK shoppers discounts, prizes. AliExpress launched its 11.11 Global Shopping Festival for UK shoppers with discounts of up to 80% on tech, fashion, and more. New features like "Shake & Win" offer prizes, and daily livestreams showcase discounted products.

🇺🇸 Amazon files suit to stop fake review brokers. Amazon and Google sued Bigboostup.com, a fake review website, on Oct 28, 2024. The site allegedly sold fake reviews targeting Amazon and Google platforms. Amazon’s legal actions follow its crackdown in 2023 when it blocked 250M fake reviews globally and took action against 150 review brokers.

🇩🇪 eBay launches monthly payment option in Germany through a single invoice due mid-month. Partnering with Riverty, eBay’s new option adds flexibility and convenience, consolidating all purchases into one statement. The option will fully launch in early 2025.

🇨🇳 Taobao faces backlash over “no-return” refunds. China’s major e-commerce platforms, led by Pinduoduo, face pushback over refund-only policies that let buyers get refunds without returning items. Taobao intercepted 400K requests daily and compensated merchants $42M since August to curb losses from “no-return” refunds.

🇰🇷 Coupang profit slips, Farfetch set for earlier gains. Coupang posted $70M Q3 profit, down from $91M last year, despite beating revenue forecasts with $7.87B. Farfetch, acquired by Coupang in January with $500M in capital, is now set to reach profitability sooner than planned, spending less than expected to achieve gains.

🇺🇸 eBay launches real-time app insights for sellers. It allows sellers to track listing views, impressions, and click-through rates in real-time. Users can access detailed traffic sources and optimize listings directly from the app. This tool, designed to assist high-volume and niche sellers alike, offers crucial metrics to improve sales and efficiency.

🇩🇪 Zalando’s Q3 revenue up by 5%, hits $2.5B. Zalando's Q3 results showed strong gains. Revenue rose by 5% to $2.5B, while GMV climbed 7.8% to $3.8B. B2C sales grew 4.3%, reaching $2.4B, and B2B saw an 11.1% increase. Net profit hit $47M, reversing last year's loss. Zalando confirmed its 2024 outlook, projecting 3-5% GMV growth and adjusted EBIT of $470M. Investments in new brands, logistics in Europe, and the Zalando Assistant help drive engagement and expansion.

🇩🇪 Zalando’s Free Loyalty Program Adds 2.6M Users. The program offers perks like birthday gifts, faster shipping, and early access. Launched in Spain, France, and Austria, it will expand in 2025. Financially, Zalando expects one-time costs for past subscriptions and provisions for points.

🇪🇺 Shein's Europe Sales Surge 68% in 2023. Shein's European sales jumped 68% in 2023 to $8.4B, up from $4.6B. Profit more than doubled, reaching $109M.

🇬🇧 Asos CEO dismisses Shein, Vinted amid $379M loss. Asos posted a $379M loss this year, yet CEO Calamonte remains unfazed by competition from Shein or Vinted. Calamonte believes the fragmented market leaves room for Asos’ customer-focused model. Asos will double its “test-and-react” line, aiming to adapt swiftly to trends.

🇫🇷 LVMH reports Q3 sales dip amid cautious consumers. LVMH’s third-quarter revenue dropped by 3% to $20.8B due to weak demand in China and Japan’s stronger yen. Fashion and leather goods sales fell 5% to $9.96B, while wines and spirits dropped 7% to $1.5B. While European and U.S. sales held steady, China's consumer confidence dipped to pandemic-era lows.

🇺🇸 StockX Co-founder Greg Schwartz to Become CEO, replacing Scott Cutler, who exits amid challenges in sneaker resale. Schwartz aims to refocus on global growth and innovation as the company partners with Walmart and diversifies its offerings. The resale market struggles as sneaker oversupply lowers prices, a trend that’s hurting other resale categories too.

🇦🇺 Uturn launches 17K-item online thrift platform. Last week, Uturn, a second-hand fashion leader in Australia, launched its first online marketplace with over 17,000 items. Uturn’s managing director, describes it as a localised and sustainable shopping solution.

🇩🇪 Delivery Hero raises FY 2024 revenue forecast. Delivery Hero reported 9% YoY GMV growth in Q3 2024, driven by a 25% increase outside Asia. Total Segment Revenue grew 24%, with top segments in MENA and Europe. The company raised its FY 2024 guidance to the high end of GMV and revenue projections, estimating $50-100M in free cash flow.

🇮🇳 Swiggy raises $606M ahead of IPO next week. Swiggy has raised $606M from over 75 anchor investors, including BlackRock and Fidelity, ahead of its $1.35B IPO. This makes it India’s second-largest listing of 2023.

🇪🇺 Wolt and Revolut Partner for Free Wolt+ Membership. Wolt and Revolut have teamed up, offering Revolut’s Premium, Metal, and Ultra subscribers free access to Wolt+, starting in 17 European countries. Through this partnership, subscribers enjoy EUR 0 delivery fees, exclusive discounts, and a convenient way to access local restaurants and retailers.

🇬🇧 Deliveroo Report Shows Spike in Healthy Orders, with salads taking two of the top three spots. Viral food trends also shape consumer preferences, as social media drives demand for Instagram-worthy meals and essentials, which are up by 600% since 2022.

🇳🇱 Just Eat to cut 300 jobs after sales decline. Just Eat will lay off 300 employees globally, affecting 2% of its workforce. This move comes after a 3% dip in Q3 sales, largely due to a 12% drop in the U.S. market. The layoffs will impact roles in services, technology, and logistics, among others.

🇺🇸 Aldi, Gelson's expand Instacart's shelf tech. Instacart’s electronic shelf labels, or ESLs, are now live in Aldi, Gelson’s, and Hornbacher’s. These stores added Instacart's pick-to-light software to improve item-finding and accuracy, Instacart said Thursday. Instacart also plans to expand this tech to their Caper Carts, aiming to boost convenience further.

🇺🇸 DoorDash targets small local grocers for growth. Recent partnerships added over 30 stores to its platform, including Kowalski's in Minnesota and Wegmans in five states. Vice President Fuad Hannon says supporting small grocers has been “a core focus area.” The company says nearly 90% of grocery customers are new to the app.

🇪🇺 Apple faces hefty fines under EU’s strict DMA rules. The company’s iPadOS has been targeted over compliance concerns, as it restricts app developers and limits user options. Apple’s recent tax woes include a $14.4B payment to Ireland and a $1.8B fine over its App Store practices. Under DMA rules, Apple could be fined up to 20% of its annual revenue.

🇺🇸 Mozilla lays off 30%, drops advocacy division. Two key departments, advocacy and global programs, were dropped in a restructuring that aims to enhance impact amid tech challenges.

🇺🇸 TikTok Shop teams with Venmo for holiday deals. From Nov. 30 to Dec. 2, U.S. shoppers can get up to $35 off by paying with Venmo. TikTok Shop's holiday event, "Brand Palooza," will run Nov. 13–27, with major brands offering special discounts.

🇺🇸 Shopify’s new finance suite boosts entrepreneurs, combining Balance, Capital, Credit, Tax, and Bill Pay into a single dashboard. With higher APY rewards, cash-back options, and new repayment flexibility, merchants can access up to $2M in capital.

🇷🇴 eMAG announces Moldova expansion for 2026. The timeline follows Moldova's recent EU accession momentum. eMAG has operated in Bulgaria and Hungary since 2012 and 2013, respectively. Customers in Moldova already connect to EU stores through Posta Romana's EUlivrez service, which handles deliveries from European retailers.

🇺🇸 Retailers foresee boom in 8-ft TVs this holiday season. Demand for 8-ft TVs is surging, with screen sizes up 10x over last year. Lower prices and tech advancements push Best Buy and Samsung to expand XXL screen offerings.

🇺🇸 Carvana hits 2M car sales, ramps up same-day delivery. Carvana reported a 34% year-over-year increase in Q3 sales, moving 108.6K cars. Its growth follows challenges in the used-car market and was boosted by its acquisition of 56 auction sites for $2.2B in 2022. Carvana now offers same-day delivery in 16 states and services over 300 markets, aiming to expand its infrastructure for faster sales and delivery nationwide.

🇺🇸 GoDaddy launches Website Builder API integration to empower third-party platforms like Tailor Brands with new website-building capabilities. With this API, partners can offer GoDaddy's features to users without extensive development. Small businesses gain access to AI-driven tools and marketing insights, bringing affordable, high-quality websites within reach of many.

🇱🇻 Printful merges with Printify amid market hurdles. This move aims to improve efficiency and reach “hundreds of thousands” of users. Financial details are undisclosed, and the leadership assures “clear, transparent” layoffs where roles overlap.

🇺🇸 Pinstripe reshapes secondhand clothing sales in NYC. Sellers bring items to local stores, where staff handle transactions, and the app uses AI to simplify offers. Sellers keep 70% of revenue, while Pinstripe and store partners take 20% and 10%, respectively.

🇩🇪 Thalia acquires online bookseller buecher.de. Germany’s Thalia acquired online bookseller buecher.de as Weltbild, its previous owner, filed for bankruptcy. The sale price remains undisclosed.

🇺🇸 Flash enters U.S. to simplify online shopping. Flash is free but offers a $49/year premium plan with features like AI spam protection and a dedicated shopping inbox. Founded in 2022, Flash has over 1M users in India. Expansion will continue with a global version planned for 2025, backed by upcoming funding.

🇺🇸 Recovery.com secures $5M to expand treatment access. With a 2,013% growth rate over three years, the company already features 15,000 treatment providers. Its Yelp-like review platform offers comparisons and user reviews, aiding informed treatment choices for addiction and mental health care.

🇬🇧 Groov secures $1.9M to expand SME lending. The round, led by Fuel Ventures, aims to expand Groov’s API offerings, giving businesses easier access to capital. Funds will go toward launching new products and building a multi-regional network.

🇪🇪 Miros raises $6.4M to drive AI search in e-commerce. Backed by ex Estonia-president Toomas Hendrik Ilves, Miros aims to cut lost sales and improve product discovery. Their tech improves conversion rates, benefiting partners like Jomashop. CEO Heikki Haldre calls it a revolution for shoppers and sellers alike.

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