PDD Nov 2024 121.000 call

Heard on the Street: Etsy’s Crafty Niche Has Its Limits

Etsy has been trying to find new ways to draw more sales on its platform, but creativity might have its limits. The company, which also owns second-hand clothing marketplace Depop and musical instrument marketplace Reverb, said the volume of sales through its marketplaces declined 4.1% last quarter on the year, more than analysts had anticipated. For the year, Etsy expects total gross merchandise sales to decline by a low-single digit percentage, which would mark a third year of declines.

Temu Faces EU Probe Over Failure to Stop Illegal Sales

The European Commission, the EU’s executive arm, said it had opened formal proceedings against the Chinese e-commerce platform to assess whether it may have breached Europe’s digital services regulations.

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  European Commission sets its regulatory crosshairs on Temu for illegal product sales

  Engadget
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  Temu to be investigated by EU tech regulators over sale of illegal products

  Reuters

Temu's Southeast Asian foray runs into hurdle in Vietnam after Indonesia ban

Temu, the cross-border shopping platform owned by Chinese e-commerce giant PDD Holdings, faces heightened government scrutiny in Vietnam, posing new challenges for the company's expansion plans in Southeast Asia. The budget-shopping platform, which is legally domiciled in Boston, is applying for formal approval to operate in Vietnam, after its recent launch in the country raised regulatory compliance questions, according to local media outlet Vietnam Net. Temu debuted in Vietnam early in October