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Amazon Prime Day to Boost U.S. Online Sales to $23.8 Billion, Adobe Forecasts

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Online sales in the U.S. are projected to reach $23.8 billion during Amazon’s extended 96-hour Prime Day event from July 8 to 11, marking a 28.4% increase compared to last year, according to Adobe Analytics. This surge reflects consumers’ eagerness for strong discounts, especially on back-to-school items like apparel and electronics.

Adobe highlighted that this sales volume is equivalent to “two Black Fridays,” noting that shoppers are increasingly using generative AI tools to hunt for deals and get an early start on their back-to-school shopping. The expansion of Prime Day from 48 to 96 hours also responds to growing competition from retailers like Walmart and Target, who are launching their own promotions during the same period.

Consumers are expected to “trade up” by purchasing higher-priced items such as electronics, sporting goods, and appliances, while choosing more budget-friendly options in categories like home, garden, and groceries. Clothing discounts are forecast to deepen to 24%, up from 20% last year, while electronics discounts may slightly decrease to 22%.

Back-to-school essentials, including backpacks, lunchboxes, headphones, and computers, are also expected to see sales growth. Additionally, the use of Buy Now Pay Later (BNPL) payment options is anticipated to rise slightly to 8% of online spending, up from 7.6% last year.

Adobe’s forecast is based on analysis of 1 trillion visits to U.S. ecommerce sites, covering 100 million SKUs across 18 product categories.

Indonesia Antitrust Agency Grants Conditional Approval for TikTok’s Tokopedia Acquisition

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Indonesia’s antitrust authority, the KPPU, has given a conditional green light to TikTok’s $840 million acquisition of a 75.01% stake in Tokopedia, the country’s largest e-commerce platform. The deal, completed in January 2024, was previously scrutinized for potential monopoly risks.

The KPPU’s approval comes after TikTok and Tokopedia agreed to meet several conditions designed to safeguard fair competition. These include maintaining open access to payment and logistics services and prohibiting predatory pricing practices that could harm market fairness.

During its probe, the agency had flagged concerns over increased market concentration and the possibility of post-acquisition price hikes due to TikTok’s dominant position. The conditions aim to mitigate these risks and promote a balanced digital marketplace.

TikTok expressed respect for the KPPU’s decision and reiterated its commitment to fair competition principles. The KPPU will continue monitoring compliance with the conditions until June 17, 2027, retaining authority to impose sanctions if violations occur.

Greek Retailers Call on EU to Accelerate Fee on Low-Value E-Commerce Parcels

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Greek retailers have urged the European Union to implement earlier than planned a €2 ($2.30) handling fee on low-value e-commerce packages entering the bloc, according to a letter reviewed by Reuters.

The EU had announced in May plans to end the duty-free treatment for consignments valued at €150 or less and impose the new fee starting in 2028, aiming to address the surge of online goods imports, primarily from Asia.

In the letter addressed to EU Trade Commissioner Maros Sefcovic, Stavros Kafounis, president of the Hellenic Confederation of Commerce, requested the fee be applied no later than 2026.

EU customs handled around 4.6 billion low-value parcels in 2024, with 91% originating from China, a figure that doubled from 2023. Approximately 20% of Greek e-commerce sales revenue goes to Chinese platforms, a share expected to grow sharply in the coming years.

Kafounis emphasized that the rapid expansion of major Chinese e-commerce platforms has distorted fair competition within the EU retail market.

Under the proposal, the €2 fee would be charged to online retailers rather than consumers. The measure still requires approval from EU member states and the European Parliament.