As we head towards the Christmas break, we wanted to take time to wish you all the best for the New Year. We hope you get time to spend with your friends and family before what will undoubtedly be a busy and challenging year ahead.
With the economy likely to remain challenged throughout 2024, there is good news for those selling on channels and that is consumers are increasingly turning to them for brand alternatives and value through refurbished and preloved goods.
eBay in particular has reinvented itself in 2023, or rather refocused on it’s roots of value and refurbished items. Amazon are threatening with their fast growing £1bn second chance business across the UK and Europe. But perhaps the biggest threat to the giants of the marketplace world are the relative newcomers – TikTok and Temu.
TikTok shop has exploded in 2023, with almost unbelievable sales figures being publicly shared, such as Nature Spell who reported their 1 millionth sale within a year of launching on the channel. TikTok shop, who headlined at ChannelX World last October, will be one to watch and more importantly adopt as they open new categories in 2024.
Temu is interesting as they now have roughly half the number of daily users that Amazon sees – this means huge numbers of sales are being swallowed up by the upstart and every sale on Temu is one that doesn’t take place on eBay or Amazon. Trading slow shipping for value appears to be paying dividends and flies in the face of immediate gratification that comes with fast delivery.
As always in 2024, we’ll be here to cover the news, views and developments in channel selling, and mark the date in your calendar as the ChannelX World conference will be returning to London on the 9th of October. This will come alongside our regular new coverage, ChannelX TV interviews, reports, webinars and new for 2024 will be VIP ChannelX Dinners (If you’re interested in attending a dinner, please do drop me an email to [email protected] – they’re off the record events for retailers and brands to share expertise and network in an informal setting).
We’ll still be working in the days up until Christmas, but as this will be our final newsletter of 2024, before we take a break over the bank holiday periods, we wanted to wish you seasonal greetings, to thank you for reading, commenting, and emailing in your suggestions and complaints, and wish you a very prosperous New Year.
We can’t wait to meet up again in 2024!
