YouTube to shut down its social e-commerce platform on March 31

YouTube to shut down its social e-commerce platform on March 31

 According to foreign media reports, YouTube will shut   down its social e-commerce platform Simsim. Simsim will stop taking orders on March 31 and its team will integrate with YouTube, the report said. But even with Simsim winding down, YouTube will continue to expand   its social commerce vertical.  In a statement, YouTube   said it will continue to work with creators to introduce new monetization opportunities and is committed to supporting their businesses.

Amazon India launches ‘Propel S3′ program

 According to foreign media reports, the e-commerce giant Amazon has launched the 3.0 version of the startup accelerator program (Amazon Global Selling Propel Startup Accelerator, referred to as Propel S3) in India. The program aims to provide dedicated support to emerging Indian brands and start-ups to attract global clients. Propel S3 will support up to 50 DTC (direct-to-consumer) start-ups to launch in international markets and create  global brands. The program offers participants the chance to win rewards with a total value of more than $1.5million, including AWS Activate credits, advertising credits, and one year of logistics and account management support. The top three winners will also receive a combined $100,000 in equity-free grants from Amazon.

Export Note: Pakistan is expected to ban   the sale of low-efficiency fans and light  bulbs from July

 According to Pakistani media reports, Pakistan’s National Energy Efficiency and Conservation Agency (NEECA) has now delineated the corresponding power factor requirements for energy-saving fans of energy efficiency grades 1 to 5. At the same time, the Pakistan Standards  and Quality Control Agency (PSQCA) has also drafted and completed the relevant laws and regulations on fan energy efficiency standards, which will be released in the near future. It is expected that from July 1, Pakistan will ban the production and sale of low-efficiency fans. Fan  manufacturers and sellers must strictly abide by the fan  energy efficiency standards formulated by the Pakistan    Standards and Quality Control Agency and meet the energy efficiency policy requirements stipulated by the  National Energy Efficiency and Protection Agency. . In  addition, the report pointed out that the Pakistani government also plans to ban the production and sale of low-efficiency light bulbs from July 1, and related products must meet the energy-saving light bulb standards  approved by the Pakistan Bureau of Standards and Quality Control.

More than 14 million online shoppers in Peru

Jaime Montenegro, head of the Center for Digital Transformation at the Lima Chamber of Commerce (CCL), recently reported that e-commerce sales in Peru are expected to reach $23 billion in 2023, a 16% increase  over the previous year. Last year, e-commerce sales in Peru were close to $20 billion.  Jaime Montenegro also  pointed out that currently, the number of online shoppers in Peru exceeds 14 million. In other words, about four  out of ten Peruvians have purchased items online.According to the CCL report, 14.50% of Peruvians shop  online every two months, 36.2% shop online once a month, 20.4% shop online every two weeks, and 18.9%   shop online once a week.