Dropshipping News Weekly Update Vol.13
Here are five pieces of dropshipping news for you to catch up with.
1. eBay adds new overseas warehouse service provider "Dajian Yuncang"
On August 19, eBay announced that in order to further expand sellers’ choice of overseas warehouse service providers during peak seasons and to help sellers better expand their large and heavy goods business, it added a new large and heavy cargo supply chain company, Dajian Yuncang, to serves as an overseas warehouse service provider that does data docking with eBay. eBay stated that using eBay data to dock warehouse shipments will help the system accurately identify overseas warehouse suppliers and end-haul logistics services used by sellers, and prevent related transactions from being identified as fake overseas warehouse transactions.
2. PayPal announces cancellation of late payment fees for "buy first, pay later" service
On August 19, it was reported that with the rise of the "buy first, pay later" service and the heating up of market competition, PayPal announced that it would no longer charge late fees to "buy first, pay later" users. PayPal said the policy will take effect in the USA, the UK, and France from October this year. Greg Liszewski, vice president of global payment products at PayPal, said in an interview: "We think late fees hinder the customer experience."
3. Shopee's GMV in the second quarter reached US$15 billion, a year-on-year increase of 87.5%
On August 18, Shopee’s parent company Sea Limited announced its financial results for the second quarter of 2021 as of June 30. In the second quarter, the company's total GAAP revenue was US$2.3 billion, a year-on-year increase of 158.6%; among them, GAAP revenue from e-commerce and other services increased by 174.1% to US$9997 million. In the same period, the company's gross profit totaled $930.9 million, a year-on-year increase of 363.5%; the adjusted total profit before interest, tax, depreciation, and amortization were $24.1 million. In the second quarter, Shopee’s GAAP revenue was $1.2 billion, a year-on-year increase of 160.7%; total orders were $1.4 billion, a year-on-year increase of 127.4%; total merchandise transactions were $15 billion, a year-on-year increase of 87.5%.
4. Etsy Labor Day Promotion is coming soon
August 30 to September 7 is Etsy's Labor Day promotion. Participating sellers must be prepared for a 20% discount and must provide international shipments. Etsy will use emails and other promotional activities to attract traffic and said that the Labor Day promotion is an excellent opportunity for small sellers and shoppers to establish contact.
5. PayPal launches cryptocurrency service in the UK
Starting this week, PayPal will allow UK customers to buy, hold and sell electronic currency. This is the first international expansion of PayPal's encryption service since its launch in the United States last year. PayPal stated that its foray into cryptocurrency is to make it easier for people to participate in the market.