News digest 05.07.2021

PINTEREST IS THE FIRST ONLINE PLATFORM TO BAN WEIGHT-LOSS ADVERTISING

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Pinterest has stopped showing weight loss ads since July 1, 2021.
The site will not show reviews of weight loss products, images that idealize, or, conversely, shame people's bodies. Advertising of pills and supplements for weight loss and images of bodies ‘before’ and ‘after’ will also disappear.

GOOGLE ADS WILL TIGHTEN THE REQUIREMENTS FOR THOSE WHO ADVERTISE FINANCIAL SERVICES IN THE UK

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In August 2021, Google Ads will add new verification requirements for advertisers who promote financial services in the UK. Verification will become mandatory. Advertisers who fail to pass an identity check before this date will no longer be able to display any ads about financial services in the UK.

46% OF THE GLOBAL ADVERTISING MARKET IN 2020 WAS OCCUPIED BY GOOGLE, FACEBOOK, ALIBABA, BYTEDANCE, AND AMAZON

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Such data was provided by Group M in its Global Advertising Expenditure Report in 2020.
By comparison, in 2010, the top five companies (Google, Viacom/CBS, News Corp/Fox News, Comcast, and Disney) controlled only 17% of the market, and their combined advertising revenue was $70 billion.

ALIBABA BETTING BIG ON VIETNAM E-COMMERCE POTENTIAL

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Fast increasing online groceries demand and the high growth potential of Vietnamese e-commerce market are factors driving Chinese giant Alibaba’s investment in Vietnam.
A consortium led by the Chinese e-commerce giant invested $400 million in The CrownX, a subsidiary of conglomerate Masan Group that operates retail chain WinMart.

MOBILE APPLICATION USERS DOWNLOAD LESS AND SPEND MORE THESE DAYS

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Spending on mobile apps worldwide in the first half of 2021 reached $64.9 billion in App Store and Google Play. This is 24.8% more than the $52 billion earned by both stores over the same period in 2020.
In the first half of 2021 App Store grew by 22.1% compared to $34 billion in the first half of 2020. Google Play revenue in the same period increased by 30% from $18 billion a year earlier.

A US COURT DISMISSED TWO MAJOR ANTITRUST LAWSUITS AGAINST FACEBOOK

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On June 28, the Federal Court for the District of Columbia rejected the antitrust lawsuit of the US Federal Trade Commission (FTC) against Facebook, as well as a parallel lawsuit from the attorneys general of 48 states.
The regulator claimed that the company systematically eliminates threats to its monopoly, including the acquisition of Instagram in 2012 and WhatsApp in 2014. The arguments presented were not enough.

SINGAPORE WANTS TO BE AN E-COMMERCE HUB AS ASIA’S DIGITAL ECONOMY GROWS

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According to the report on e-commerce in Southeast Asia, about 40 million new Internet users appeared in the region in 2020. About 36% of consumers of digital services used them for the first time.
As part of the e-commerce development strategy in Singapore, the government plans to launch two 5G networks by 2025. They should become the ‘basis’ of the digital economy of the city-state.

FINANCE APP INSTALLS GREW 31% IN 2020

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In Europe, the number of installations of the top 50 financial applications increased by 31%, to 102 million in 2020.
PayPal and Google Pay became the most downloaded payment applications in Europe in 2020.

CHINESE BOYCOTT COST H&M $74 MILLION

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Sales of Hennes and Mauritz AB in China decreased from $263 million to $189 million. This means a reduction of 28% in Swedish krona and 23% in local currency.
Today, the company reported for the second fiscal quarter ended May 31. In the reporting period, global sales of H&M increased by 75%, digital channels showed an increase of 40%.

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