Quick Take — US: e-commerce from China, users drop

Temu’s monthly active users, a measure of engagement on its app, plummeted 51 per cent to 40.2 million in the US between March and June, according to data from market intelligence firm Sensor Tower. The number of US shoppers using Shein’s app also dropped over the same period, though not as dramatically. The fast fashion retailer recorded a 12% drop in monthly active users to 41.4 million, according to Sensor Tower. Shein and Temu pioneered a new e-commerce model that revolutionised the retail industry across the western world over the past five years…

Quick Take — Walmart and Amazon are considering adopting their stablecoins

potentially moving the high volumes of cash and card transactions they handle outside the traditional financial system and saving them billions in bank fees.

Stablecoin is a cryptocurrency whose value is tied to a ‘stable’ asset that can be a traditional currency or a commodity. If stablecoin were to be adopted, it would perhaps be the first entirely private-label payment methods (the others rely on banks). As Clara Mentasti points out, it would also be “a threat to monetary sovereignty” (of the US Central Bank).

Meanwhile : Chinese e-commerce giant JD.com tests stablecoins in Hong Kong

Compiled 13 June, updated 19 June 2025

US: inflation-weary consumers stock up on discount stores

As in France and Italy, inflation due to Covid – 19 in the US has left deep traces that have favoured the development of discount formulas, albeit with very different approaches and sales methods. US consumers are also experiencing the political uncertainty sown by the tariffs wanted by Donald Trump. Box stores (wholesale discounters) are depopulating in the US, driven by concerns about the high cost of living. Chris Nichols , CEO of Sam’s Club (Walmart’s box store chain) predicts ‘difficult times’ for the US economy

Quick Take — USA: department store market share from over 14% in 1990 to less than 3% in 2024 (-78%)

a collapse that clearly photographs the structural change taking place. But the decline of department stores is not a thunderbolt. For years, these department stores have struggled to compete with the rise of e-commerce, aggressive discount platforms such as Temu and Shein, but also direct-to-consumer brands. The new generations, moreover, prefer more curated, personalised and digital shopping experiences, far removed from the dispersed logic of the large generalist stores, and so the metamorphosis underway is not just a commercial fact, but a social and cultural signal, showing that the future of retail passes through innovation, selection and competitive pricing, and does not care about the size of its spaces…

Quick Take — Amazon: 100 billion (gross) groceries

Amazon CEO Andy Jassy opened up in a recent question-and-answer session with shareholders on the company’s strategy and performance in the food sector, emphasising his focus on the many aspects of the physical and online food retail business.

“I’m very bullish on groceries. I think some people don’t realise how big a grocery business Amazon has today. If you look at our core aisle stuff – so it’s things like consumables, canned goods, pharmaceutical items, beauty products, really, everyday essentials – if I exclude just Whole Foods Market and Amazon Fresh, we did over $100 billion in gross sales in our grocery business on those items last year alone…”

The figure would then cover Amazon Go, Amazon Grocery and the ubiquitous Amazon.com website.