Growing Ecommerce – The Retail Growth Podcast
Feed your growth mindset. Ecommerce is growing, and so are the challenges and opportunities for online retailers. In the Growing Ecommerce podcast, Mike Ryan and other smec experts are joined by industry leaders in ecommerce, digital marketing, and data science. By sharing business trends, practical solutions, and best practices, this podcast helps online retailers solve the challenges of tomorrow.
Growing Ecommerce – The Retail Growth Podcast
Q2 Highlights: Wins and losses for Netflix, Amazon, Pinterest, and Google
Can a new low-price, slow-shipping strategy from Amazon truly rival Temu's direct-from-China model? On this episode of Growing ecommerce, host Mike Ryan dissects some of the biggest headlines from Q2 including Amazon's attempt to fight back against Temu, and Netflix's advertising woes, which led to another VP dismissal just one day after earnings were reported. He also discusses how Pinterest's ad deal with Google is shaping up, changes to Meta's remarketing mix, first reactions to Prime Day, and more.Tune in for an episode packed with insights and strategies that are shaping the future of the industry.
Hi, thanks for joining Growing eCommerce. I'm your host, mike Ryan. I'm head of eCommerce Insights at Smarter eCommerce, and today we're going to dig in and look through a series of updates from Q2 and a couple of things popping up at time of recording here in early Q3. We'll talk about everything from Pinterest's partnership with PMAX to Amazon making its own team lookalike, what's going on with ads at Netflix these days and a lot more Just sort of a lightning round. I've done this before, where I talk about two or three news items. I think actually I've got a few more this time. So I've been ambitious by initial standards and I hope you'll enjoy it. All right, let's get into it.
Speaker 1:So I feel like Q2 was. It felt to me like it lasted somehow longer than Q1 did. It felt to me somehow a bit more eventful and there was a lot of headlines in there. So I just want to talk through some of what's been going on lately. Let's start off with Amazon first. I mean, at the time of recording, we just had Prime Day. I don't know really the numbers yet. You will know by the time you're hearing this. You'll know more about how big it was and stuff like that.
Speaker 1:Right now there's sort of a generic statement from Amazon it's our biggest Prime Day ever. Well, of course it always is. This is, to me, one of those kind of meaningless statements like maybe the wrong KPI, like Apple saying it's our thinnest iPad ever, over and over again, quarter after quarter, or release after release. I should say so that doesn't tell me a lot, because it could well be their biggest Prime Day ever and not have been much of a success. What I'm hearing so far in chatter is that it seems like it was a little flat, or not that much of an increment over Prime Day 2023. And that there was stiff competition from Amazon's own brands. There was also a big advertising, like an outage on the ad portal on day one, so it seems like it was a bumpy ride, but we'll find out more.
Speaker 1:What I want to talk to you about quickly, though, is the T-word. We haven't talked about T-Mu in a while, but Amazon and this new offering. They're going to be having this direct from China, offering that kind of copycats what Timu does, and there's been a lot of interesting reportage over the past months in Q2, actually how similar Amazon and Timu and Shein really are, that there's a lot of overlap between their sellers and so people like me who are like I've never bought from Timu but then I'm actually turning around and buying from the same sellers on Amazon and just kind of giving myself a false sense of righteousness when actually I just paid more for the same supply chain for the same. You know everything bad that goes on with those sellers and we know for a long time the share of Chinese sellers on Amazon has been rising and rising and in many ways Amazon made Teemu possible by gradually kind of acclimating Western consumers to the standard of quality that you get on Teemu and you know making just kind of exaggerating that rush to like the lowest price, the bottom price. And you know, quality doesn't matter that much if I can just get a cheaper brand, I don't what brand, I don't care if I can just get at the right price.
Speaker 1:But there's a really interesting piece and I'll share my screen for a second here actually to show you something a really interesting piece though, from joe from marketplace pulse. I really recommend Marketplace Pulse, all their reports, all their articles, and Joe just does great work over there. But he talks about how like Amazon wants to be like Timu, timu wants to be like Amazon To me. It reminds me a little bit of I don't know Batman and Joker and you can guess which one is the Joker. It's not anytime, but it reminds me of that relationship between batman and the joker where they kind of like hate each other and our opposites, yet are the same and they need each other. There's this like yin and yang kind of relationship there. I'm sharing a graphic here and I'll describe it to people listening into the podcast, which is most of the time. But you know joe's marketplace policy just made a simple four box model where he has like the delivery speed on the vertical axis from slow to fast and then he's got the selection size on the horizontal axis from small to large. And you know Amazon in a logic like that, amazon traditionally was really maximally located in the operating hand corner, with-hand corner with the fastest speed possible.
Speaker 1:Traditionally it was always two days, but in a lot of markets and with products that have gone down to the next day or same day, it's just crazy. They're getting faster and faster. They almost invented or they first saw the potential of the digital shelf, this kind of unbounded virtual space where you can stock as many products as possible, and that's closely related, that kind of drive to just increase the assortment, increase the breadth and the depth further and further. That's one reason why they started sourcing so heavily from China, because they could fulfill that kind of that dimension of growth. And so in the end, that's just where they've traditionally been located, and Timo, on the other hand, also has that very broad and deep assortment from China.
Speaker 1:But they've taken this other approach, like, okay, let's not compete on speed, let's compete on pricing. And people think Amazon's cheap. No, amazon's not cheap, not anymore. They don't even know what cheap means anymore. We'll show them that. And so they've used this kind of loophole where they end up. Just how does it work? They like export to Mexico, then re-import back to the US or something, so that they can use this loophole to maximize this model. And you wait a couple of weeks but you get things so dirt cheap.
Speaker 1:So now Amazon is offering a service. They'll basically have that similar team model and it's not going to be as big as at first. They will have a section or an offering in Amazon where you can accept a longer shipping time and you'll get that rock bottom price. And in the first place it's going to be smaller and maybe I don't know what their ambitions are in terms of how big they want to get it and to what extent that cannibalizes their own business and pisses off brands who are sellers on their main marketplace their own business and pisses off brands who are sellers on their main marketplace. But there could be advantages to being a bit more buzzword-like, curated, if that's actually the sense of the smaller assortment, because if you can get that value proposition of very low costs in cases where you don't care how long it takes. But you've got kind of the trust relationship with Amazon. You trust the mediation, you trust that they're not going to, like you know, share your personal data with an enemy state Not enemy, but let's say a frenemy state.
Speaker 1:Yeah, so I think you know, I think it could work out really well for Amazon. I personally would feel way more comfortable taking up that offer from Amazon than I would for Teemu, and there are products where I don't care what it comes, I just want rock bottom pricing. So it could work. Meanwhile, teemu is working on what they call Teemu Local and they're working on beefing up their US fulfillment and their US supply and local and other markets too over time. So they both, both. You know they kind of want to be each other.
Speaker 1:There's this kind of joker and batman logic to it and, you know, I feel like I've seen this happen in other contexts where the value proposition just gets kind of diluted, like I don't know, instagram seizing on reels in response, maybe to like pressure from tiktok or other competitors who in the short form content and maybe they ripped off someone else with reels, I can't remember. But also YouTube seeing like okay, short form content, short form content, let's have YouTube shorts and then like like, in the end it's this kind of soupy thing that emerges where, like, instagram used to be the photo and picture sharing app and then they really like kind of fully mutated into short form video content, even though a lot of users didn't want that. That's not what they were using instagram for. So we'll see how this evolves over time. It's certainly something that I'm watching and I'm going to come back to she and again later. But just this team local thing. Um, while I'm on my soapbox here, I mean, I don't know I did like I couldn't really sleep.
Speaker 1:I looked into this whole situation in Cherry Valley, california. This is a little tangent, but I found it fascinating and you know, sorry to the audio listeners, cause you won't be able to see this, but I'll describe it to you vividly. Okay, in the first image, cherry Valley, california, there's, like you know, some suburbia and some, you know, a little bit of industrial zoned area as well. And then there's this area of just verdant green California in the hillsides, lush green hillsides and like kind of a plane leading into the hills. That's a picture, one on Google Maps. And then image two, exhibit or exhibit A and exhibit B. You can see this massive thing that got built there and it's just, it's unbelievable to scale. This is Sheehan's Logistics Center in California and you know the thing's nearly visible from space. Like it's just crazy how big this is and funny enough to add a little context. Like I guess the photos were taken at different times of year, but suddenly those lush green hill sizes are like this withering brown and reddish and muddy colors and it just looks like an absolute disaster there. I'm sure that's coincidental, but it seems, seems fitting. But Timu will go in a direction like this too. That's why I mentioned that. And when you see things like Timu Local and, by the way, shigen doesn't build this factory, they're not the owner of that. They didn't build it, they just lease it. But they also lease at least one other property in the Midwest very massive place it's like the size of Area 51, these things, they're just huge and we'll see more of that. We'll see more of these Chinese lessors coming in and at least seeing these spaces.
Speaker 1:So the next thing I want to talk with you is about Netflix and their advertising. That's been big news ever since they first announced it and then, when they surprise announced Microsoft as their partner, it's kind of quite a coup for Microsoft. But things haven't been so rosy from there. They just have their earnings as of time recording. It was quite recent. They just had their earnings statement and things are actually really positive for the company in a lot of ways. They are profitable. They're still they're just a big dog. They're by far kind of dominating the streaming space, despite all of the competition that's entered the market and the way that's kind of then reconsolidating.
Speaker 1:Netflix is still netflix in a lot of ways and they you still feel the benefit of the initiative there, whether you crack down on password sharing worldwide, which helped stimulate after that bad flat quarter or negative quarter that they had in terms of subscriber growth, but they've already started preparedness that they won't be sharing subscriber growth in the future anymore. They're backing away from that metric, they are going to stop publicizing that, and this means that investors are going to need other ways to kind of size the company and assess its growth. And I think one reason that Netflix does that is because they are reaching a certain maturity point, saturation point I don't know what the right term is, but they could kind of squeeze the orange one more time with that password crackdown, but then the growth will slow down again in terms of subscribers, and I don't think that they want to spook Wall Street again with something like that. And I don't think that they want to spook Wall Street again with something like that. And so this is why they're kind of trying to change the conversation before that happens. So if your subscriber base isn't growing, I mean, what is your next option for how you're going to grow or show growth? And I mean I think the clearer answer there is monetization and the way that they've pursued monetization like everyone else.
Speaker 1:Um, as eric, sorry for is that how I say his name? I don't know, but I see I only read things I don't. I don't watch a lot of videos about this stuff. But eric he, he says everything is in that network. That's kind of his catchphrase and that's the case with yeah, it really is, everything's in that, including netflix, including Netflix. So let's just look at the numbers there for one second.
Speaker 1:The thing is that we can see that, although Netflix is the big dog in terms of their overall subscriber base and their size and stuff like that, they're actually just a little fish when it comes to advertising. You know, the big three are Hulu, youtube, amazon and, based on data from eMarketer, they're all around like 11, 12% of each of them is like kind of the market and Netflix is down there, below nearly everyone, below, you know, peacock and Disney Plus, even even below Pluto TV and Tubi. They've got, I think it's, 2.7% of the market. So on the bright side, there's nowhere to go but up. But on the other side, I think there are really big challenges changing the way people think about them, reframing their whole business and what they offer.
Speaker 1:Because you know Amazon is able to sell ads or serve ads to people who subscribe, which is kind of crazy, like hey, what do you think about it? But the subscription is not it's. The subscription is prime. It's not a prime video exclusive subscription where you'd have an expectation that you're not going to see ads necessarily. You know, know, that's on top if you want to go ad free. Um, so like they have a much broader proposition than just the streaming and they're able to kind of in that way they're able, they have the leverage to, to monetize deeper and yeah, youtube has been advertising forever, basically, and there there's so many ways of buying youtube ads at this point they're they keep even expanding that more and more.
Speaker 1:So I think the thing with netflix is that they sort of at the outset position themselves is like premium inventory, sky-high cpms, and but now they've really got to actually deliver tech and they've got to go much more in kind of a scaled programmatic direction and they've got to find a way to yeah, like I don't know, personally, I, yeah, I, I really I have this mental model where, like it's locked in my head that netflix is ad free. I, I would be a little upset if suddenly I'd be forced to pay for some advanced package or whatever. But but we're going to see what will happen there. They're really going to have to probably create new plans or find the right balance here. They'll have to do it carefully, because if they want to scale their impressions, then that means it's going to really change the way that users experience Netflix and it could break sort of a unspoken promise or a mental way of thinking about Netflix, like the brand promise whatever blah, blah term you want to call it, because, yeah, that's the way it is. So I'm pretty worried about Netflix in that regard. I think it's just going to take time and the question is how are they going to bridge this on Wall Street between this is taking time to roll out and scale our ads and that's on the order of at least another year, I guess, versus hey, we're no longer even telling you what's going on with subscriber growth. It just leaves a lot of room for uncertainty and we'll have to see how they bridge that jet. And the meanwhile, the day after their earnings report, they canned their VP of ad sales after around about a year or so. That was also a pretty clear sign and they're certainly interested in moving fast here and they'll change up their talents and who they've got as they need to in order to achieve that.
Speaker 1:So next up, I want to talk about meta and yeah, I guess there's an awful lot that we could say about meta. I mean, I saw actually who was this. I think it was like CMO of a brand called Chubbies, I can't remember. I don't really know him that well, but he really illustrated the topic nicely. He had like two screenshots of headlines from modern retail about meta ads within the span of a quarter I think it was even q2 or within the first half of the year, though, and one was like basically, hey, meta is fully recovered from the itt tracking, like, yeah, these, these tracking issues. One headline is super rosy and it's saying, hey, basically it's fully recovered from apple att&T and the iOS 14, all this whole tracking where they just lost so much of their measurement capability.
Speaker 1:It's like you know what they put in the work. They've turned the product around and it's just working again, and then, I don't know, a couple months later, more or less, there's another article saying that Meta seems completely broken and advertisers are losing all faith in it, and this is somehow, like always the story with meta. I don't know what it is about meta in particular, but, or if it's just, advertisers are constantly bullish or bearish. It seems like this sort of toxic relationship, like euphoria and dysphoria, whatever you want to call it, just the highs are too high, the lows are too low. I don't know what of it is advertiser expectation, what of it is just the platform and that. It's like for a platform of this size that it seems buggy. So it's been a whirlwind, and with t-moves activity in there too, I'm not gonna try not to say the t word too many times, but there will be at least one more time. It's just a wild time right now.
Speaker 1:But one thing I want to zoom in on quick about Meta and we'll move on to the next one is that they made a change to the way their existing customer budget catwalks. So this is in regards to advantage plus shopping campaigns, and I think one thing that advertisers have really liked about that. It's a very fully automated campaign which comes with lots of feelings usually, but what they've liked is that you can kind of just decide how much am I going to spend on existing customers compared to new customers? And what I get out of so many conversations these days is just right now it is so hard to just find new customers and find them affordably, and that seems like it's a key priority of just about every CMO out there, and every marketing team is focused on new customers, so it's been really positive thing about Advantage Plus that they allow this.
Speaker 1:Now it could be kind of a case of bungled communications, but they were rolling out in phases. They're rolling the notifications that the existing customer budget cap is gone, and it's not all doom and gloom Like at first. Some people had some very negative reactions, which I understand. I think it makes it much more of a PMAX-like product, where you don't know what you're getting anymore. It is, though, still possible to have this kind of control. It's just now. It lives at a different level. It lives at the ad set level. You need to have different ad sets for existing versus new customers, so you can still manage that. I think it just somehow feels more like a workaround than a feature in a certain way, but, on the other hand, you could argue that that's a more granular way of doing it, and people might appreciate that granularity. So I think it's going to take a little time until this rollout is completed and until advertisers have gotten used to it, to see if it's still performing the way that they expect, if they like this change, if they don't like it. But again, that's something that I'm watching right now.
Speaker 1:We can say a whole lot more about meta, naturally, but I think there's a lot of people talking about meta and many of them know the platform better than I do, so I leave it to them. But I want to tell you instead about a change at Pinterest, and this is interesting because, if I'm not mistaken, like already last year, pinterest said that they were looking at a partnership with Google ads, and then they've kind of formalized this and, if I remember, in February of this year, where basically Pinterest, like everyone else, has become an ad network. What did we say earlier? Everything is an ad network, and that's hard for Pinterest to do in some of their markets because they just don't really have the supply there, they don't have enough to set up a proper ad network with proper inventory in their developing markets, ad network with proper inventory in their developing markets. So what they agreed with Google is that Google ads will serve in the Pinterest app in those markets and that's the way that they'll kind of like bootstrap or kickstart this whole ad network in these markets, this whole ad network in these markets. So yeah, I mean, I had to look at that to see how this is playing out so far over the course of Q2. And what I found was that Google Ads did already start serving some impressions in low volumes in Q1, but this really stepped up in Q2. So it's definitely you know, it started to turn into a topic in Q1, but this really stepped up in Q2. So it's definitely you know, it started to turn into a topic in Q2 and we'll see how it evolves through the year ahead and if at some point I have a question here like how does this partnership end? Does Pinterest kind of wean themselves off of Google ads? Are they going to have a permanent dependence on Google ads in these markets? Or, I don't know, maybe they decide to expand the relationship because they both like it. It's mutually beneficial. They could expand it even into, like more core markets. It's going to be really interesting to see how it evolves.
Speaker 1:So, in my opinion, where this gets interesting, there are a few campaign types from Google ads that can serve ad placements. There's search campaigns, display campaigns, video campaigns and performance max campaigns, but so far I haven't detected signs that Google is serving on any of those, except for PMX. I'll explain why that's interesting in a second. Maybe some of you have an idea about why, but in the first place, I found this activity in nine markets, so that doesn't mean that that's all of the markets that Pinterest considers kind of developing or where they've partnered with Google, but it includes some Gulf markets like United Arab Emirates, oman, let's say, middle Eastern markets, including Israel. There's also some Southeast Asian markets, like small ones like Hong Kong and Singapore, at least geographically small, economically large Philippines, etc. So there's several markets at play here. So it's really interesting to just see where that's rolling out.
Speaker 1:And then the other thing that I'm seeing is that this is almost all serving on Android, and I'm not 100% sure about why that is. I do know that it's quite possible that these markets just have a higher share of Android, but the numbers are quite high. In some cases it's also the sample sizes aren't huge yet, so let's see about that. But in some cases it's really like some accounts at the account level per advertiser. It's sometimes like 90 or 100% Android, which is interesting.
Speaker 1:But let's get back to that PMAX in a quick. This is what I think makes it so interesting, because PMAX placements are really transparent. It is possible to see that this is happening. You can just basically do a report by placement type, but you'll want to see the placement level reporting and then you'll look and see that there are Pinterest things in there and then you can see which app store it is. So you know which version of, whether it's Android or Apple.
Speaker 1:But BMAX doesn't tell you anything but impressions for these placements. It doesn't tell you CPM or costs, clicks, conversions, nothing. None of that's there, and so I think that becomes a little bit problematic, because we know that this relationship is working for Pinterest. It's helping to bootstrap or maybe that's the wrong word but it's helping to kickstart these developing markets. For them, that's definitely a win and I would look out for that on their Q2 earnings once they make them public. We know that it's a win for Google because they must have some kind of financial relationship in here and it's more impressions running through the Google network.
Speaker 1:So my question is is it working for the advertisers? I don't know. There's no way to know, because all we can see is the impression volume and I think advertisers would be pretty happy to serve on Pinterest. Compared to some of the apps that PMAX serves on, it's probably like on more premium ads. But I also think we deserve to know what it costs and if it performs and like it's just total experiments. It's this neat partnership between these two.
Speaker 1:And, by the way, bill Reddy is the CEO of Pinterest and he used to be in charge of e-commerce ads, or commerce ads, including shopping, smart shopping. Pmax was even was probably on the roadmap under his development, under his tenure, rather. So to me it's like he just jumped in a time machine to scratch his own back, because he built technology that is allowing, like his current company, to get a boost. Whether or not it helps advertisers, we just don't know. So anyway, that's Pinterest and PMAX. That's that funny relationship and I mean I want to be positive about it. I think it is a cool placement, I think this is interesting to watch, but how can we know if it's like, imagine it starts expanding? We don't know if it's good or bad for advertisers, it just feels very one-sided.
Speaker 1:All right, I think I've just got one last theme for you today, or one last news item, kind of a news flash or news rundown today. I've been enjoying it and that's let's talk just specifically about Chinese e-commerce for a second. We already have a bit, because it just feels unavoidable these days, but let's just talk about it in a little more detail. I want to talk just about the competition levels that we're seeing on Google Ads and Meta, the competition levels that we're seeing on google ads and meta, and so basically, how, how dominant are these advertisers on there, which is something we've looked at before a bit on this podcast. But give you an update and I want to talk about she and a little bit to somebody new happening.
Speaker 1:So first things first. It's been really interesting like there's a metric that I like to follow, which is I call competitive prevalence, and basically I look at all of the advertising accounts that I have access to and then I look at how the percentage of them, how many of them, are facing account level competitor competition from competitors like Timu, sheehan and also other big advertisers like Amazon, ebay. So what's interesting is, amazon has been like a force of nature here in Europe since about late 2018, q4 2018. But they've actually, in recent quarters, started to show a little bit of downward trajectory. So it seems like I don't know if it's related to the activities of these Chinese e-commerce grabbing up some of that, or if there's stuff Google does on the back ends, or if they're just spending a bit less. I'm not sure, but they've been a little bit less prevalent.
Speaker 1:And Teemu also, like we did, we had a Teemu episode or a couple of Teemu episodes. They peaked in Q4 of last year, you might remember. They were really almost as visible as Amazon at that point and they came down a bit in Q1. And the Q2 update for you is it came down a little bit more. So like about two thirds of advertisers are facing account level competition from Timu right now. So it's down a little bit, but they're not the only ones that I'm watching.
Speaker 1:I think it's been interesting really to see in particular what's going on with AliExpress, because we know from other statements from that company they're very aware of this kind of competition from Timu and that they've been. They got caught with their pants down a little bit too and they look maybe it's not the most flattering comparison for them. So I think they're aware of how much Timu is spending on ads and having a fresh look at that themselves, of how much TUMU is spending on ads and having a fresh look at that themselves. So a couple of things I observed over the course of Q2 was that they were rolling out new localized domains here in Europe. They have sometimes been advertising with those domains and I think the idea is basically that they can increase their look through rate on their ads and stuff like that by having, like that, de or pl or or FR for France, whatever, all these different domains. So they've definitely done some localization but also they're, yeah, competitively in the accounts of like one in five advertisers now about, and they're actually about as active, from what I can tell, as they're more active now rather than they were even in like Q4 last year. So they're definitely testing and trying to scale up. I don't I'm not saying they're going to be the next team overnight, but I think we're going to be seeing more and more of them.
Speaker 1:And then another I just want to quickly call out. There's one I bet you haven't even heard of them. I bet you haven't even heard of them. I bet you haven't. It's this little senior pori and company or I can't, I don't know exactly how little they are really, but it's called light in the box. Um, but one thing I've kind of respected about them they've for years, just quarter after quarter, been super consistent in their resonance and the amount that they're spending in these ad environments and and I'm seeing them finally like they weren't like a wish, like they just came shot up like a rocket and disappeared or something. But I'm seeing them kind of finally show some softness or weakening. So I think that's the little team who that couldn't, probably.
Speaker 1:And then let's just jump over to meta. Really quick, man, it's been crazy in meta. I think the last time that I talked about this they had timu, had massively scaled up their, their meta advertising on some days as high as 20 000 back in like april, um 20 000 ads per day and would get that data through the meta ads library. And then they they were coming down again, but they had their biggest month ever in May. So Q2 was really punishing. They were some days up around 25,000 daily ads again and that was pretty sustained. It was a lot less spiky than last time. So their moving average was around it was over 20,000. For a bit Just unreal to me. They dipped down again, but now at the start of Q3, it looks like they're ramping up again, and that's in the US, by the way those numbers and I just want to mention because yeah, let me just say it the way it is the Wall Street Journal had some terrible reporting about Timu.
Speaker 1:Probably in May. I'd have to look when that was. I'd have to fact check myself. But they were talking about, like Timu staging retreat from the US and being spooked by what happened to TikTok in the US and seeking solace in Europe and the idea, if you're afraid of US lawmakers or regulators or whoever in the US, you'd have to be out of your mind to think that it would be better in Europe. That makes no sense at all and it's also completely not what happens in the end. Like, may was Timu's biggest advertising month ever in the US and there's no signs of them slowing down. They're volatile, that's clear. They're volatile, but they're not slowing down there.
Speaker 1:And yeah, so then, within days of that article, by the way, of the absurd idea that Timu would seek safe haven in Europe. Of all places, europe designated Timu as a VLOP, which to non-EU people stands for Very Large Online Platform, and that means you are subject to the very painful and strict additional on top regulations of the Digital Services Act. So Timu has some fun times ahead in Europe and I think they'll be seeking safe haven in the US. But one thing to mention, by the way no one ever talks about this, but Timu is not only aggressive in Europe and the US. They've also made big pushes in South Korea and Japan. So they're also marketing to non-China and non-Chinese orbit Asian countries as well. So they're looking for growth where they can find it, that's for sure as well. So they're looking for growth where they can find it, that's for sure. So that was the news roundup today.
Speaker 1:If you like that format, let me know. You can leave a comment on YouTube or you can reach out to me on LinkedIn or something like that, because I love to know what helps you, what you like, what you don't like. You can help me, help you, if we just communicate a little bit. It feels sometimes really like a one directional thing in a podcast. I sit in a room talking to myself like a crazy person and I don't know if that's working, but I really appreciate you tuning in. I actually wanted to touch on some pretty bad feedback that the Privacy Sandbox has been getting across Q2. I'll save that for another episode because we're out of time. So thanks very much for listening. If you enjoy this podcast, please recommend it to a friend, leave us a review wherever you're listening, share it on LinkedIn, twitter, x, wherever you are. We really appreciate it helps, and Growing E-Commerce is produced by Smarter E-Commerce, so please check us out at smarter-ecommercecom. Thank you, and I'll see you next time.