The global e-commerce market continues to grow at a prominent pace as many are now constantly connected to the internet. Furthermore, the implementation of new technologies such as 5G connectivity is projected to have a strong impact on market growth as the tech provides a fast and an uninterrupted experience to the user. Moreover, the adoption of smartphones is gaining momentum at a significant rate, thus increasing how exposed customers are to online shopping capabilities. Established organizations and large corporations are now leaning toward developing online businesses due to lower expenditure in communications and infrastructure. According to data provided by Shopify, global e-commerce sales are expected to total USD 5.7 Trillion worldwide in 2022. By 2026, it’s estimated that world retail e-commerce sales will exceed USD 8.1 Trillion and the overall e-commerce share of retail sales will hit 24%. Jowell Global Ltd. (NASDAQ: JWEL), Coty Inc. (NASDAQ: COTY), JD.com, Inc. (NASDAQ: JD), Alibaba Group Holding Limited (NYSE: BABA), BigCommerce Holdings, Inc. (NASDAQ: BIGC)
By region, the Asian-Pacific is expected to remain supreme. Six of the top 10 fastest-growing ecommerce countries in 2019 were from that region, led by India and the Philippines at more than 30% growth and rounded out by China, Malaysia, Indonesia and South Korea. A market closely associated with e-commerce, like the Ecommerce Payment Market. According to data by Renub Research, “the shifting in the digital landscape and online transaction dynamics remain keen to drive the E-commerce payment market in the United States. At the same time, cybersecurity threats continue to evolve rapidly and are expected to challenge the market growth. The segments in the ecommerce platform in the United States are Travel, Consumers Electronic, Clothes and Apparel, Household goods, Health and Beauty, Groceries and Others.”
Jowell Global Ltd. (NASDAQ: JWEL) announced breaking news that, “it has renewed its strategic partnership with Coty Inc. (NYSE: COTY) for the fiscal year 2023. A signing ceremony was held and attended by the management of both parties, including Mr. Xuedong Qiao, General Manager for Consumer Beauty, Coty China, and Mr. Zhiwei Xu, CEO and Chairman of JWEL.
Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Coty serves consumers around the world, selling luxury and mass market products in more than 130 countries and territories, with adidas just one of the world-renowned brands under its management.
The renewal marks the second consecutive year in which JWEL was recognized as a fully authorized distributor for adidas personal care products in China. Since the inception of the partnership in 2022, both JWEL and Coty have accelerated their growth strategies with effective branding and channel resource sharing, significantly increasing the quality of this cooperation. Additionally, JWEL and Coty have also expressed their intention to continue expanding their relationship and collaboration in the entire product value chain from research and development to production and sales.
Mr. Xuedong Qiao, General Manager for Consumer Beauty, Coty China, commented: ‘We are pleased to renew our partnership with Jowell for 2023. The past year has confirmed to us the reliability and commitment of the Jowell leadership team. Now, as we look forward to an important year in our company’s history, the performance of Chinese consumer products market, online e-commerce platform and the omni-channel support provided by Jowell will enable us to achieve our objectives in driving the growth of the adidas brand products.’
Mr. Zhiwei Xu, Chief Executive Officer and Chairman of Jowell Global Ltd, stated: ‘We are very proud of the renewal of this long-term partnership. We have worked diligently to develop and solidify our advantage in sales and distribution channels to better promote the adidas brand and its products in China. For instance, we have taken extensive measures to ensure a leading market position for adidas branded male shower gel products. Furthermore, we plan to reinforce our cooperative relationship and build a future that will benefit all of our stakeholders.'”
Coty Inc. (NASDAQ: COTY) reported back in September an update on the Company’s Skincare strategy, one of Coty’s six strategic growth pillars, with a focus on its Prestige brands. The company will detail its distinct and superior skincare intellectual property, upcoming operational and portfolio milestones, early evidence of success, and Coty’s financial goals through FY25 and beyond. Sue Y. Nabi, Chief Executive Officer of Coty, said: “Coty’s skincare portfolio is one of the most exciting growth areas in our business, with revenues on track to double to $500M–600M by FY25. Our strategy is underpinned by world-recognized brands serving key white space opportunities and consumer needs, 75-years of scientific innovation and leadership, superior patents and distinct intellectual property, and a large and growing team of skincare experts across the organization. We have begun our skincare revolution in Hainan and mainland China, where we are already seeing proof that our brands, formulations, and communication can win over consumers. At the same time, our research & development efforts are focused on the fastest growing consumer needs and health trends. All of this gives us confidence that we can capture significant opportunities in the $150 billion global skincare market.”
JD.com, Inc. (NASDAQ: JD) announced earlier this summer that it renewed the strategic cooperation agreement with Tencent for a period of three years. Tencent will continue to offer the Company prominent Level I and Level II access points on its Weixin platform to provide traffic support, and the two parties also intend to continue to cooperate in a number of areas including communications, technology services, marketing and advertising, and membership services, among others. The value of such cooperation is expected to be paid or spent in cash and in the form of the Company’s shares combined over the next three years. As a part of the total consideration, the Company will issue to Tencent a certain number of its Class A ordinary shares for a consideration of up to US$220 million by reference to prevailing market prices at certain pre-determined dates during the three-year period. The two parties will leverage this mutually beneficial partnership to provide better and more convenient shopping experience for users.
Alibaba Group Holding Limited (NYSE: BABA) announced last month is helping to close the digital divide with artificial intelligence (AI) that aides the elderly and visually impaired gain access to daily services, from transport to online shopping. The Hangzhou-based company is making its platforms more inclusive with options featuring larger fonts, simplified navigation and voice assistance. Its research and innovation institute the DAMO Academy also launched tools powered by AI to close the gap for people in need. More than 85 million disabled and 260 million people over the age of 60 live in China, according to a report published this year by the science and tech research institute China Academy of Information and Communications Technology. By 2050, close to one third of China’s population will be seniors aged over 60, according to the research agency China Development Research Foundation.
BigCommerce Holdings, Inc. (NASDAQ: BIGC) announced in partnership with Snap, Inc., the launch of Snapchat for BigCommerce. BigCommerce merchants of all sizes in the US can now directly integrate their store as a one-stop shop to sync product catalogs and create immersive Snapchat ad campaigns to broaden customer reach, open new revenue streams and ultimately scale their business to the next level. “Giving merchants access to Snapchat’s unique audience of 363 million daily active users opens up incredible opportunities for them to tap into a younger generation of influencers that master impacting a consumer’s purchasing decision,” said Sharon Gee, vice president of revenue growth and general manager of omnichannel at BigCommerce. “For BigCommerce, Snap’s partnership broadens our direct integrations portfolio for omnichannel merchants on the BigCommerce platform, providing access to top performing social, search and marketplace channels from a single platform to sell more and increase revenue. Furthermore, this partnership provides unique benefits to our ecosystem of Omnichannel Certified Partners for merchants on any ecommerce platform via Feedonomics to drive return ad on spend and improve performance on hundreds of growth channels.”
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