Stay in Touch
As part of a new partnership, U.S. businesses with Shopify storefronts will be able to list their products on the Chinese online marketplace, used by 550 million customers. JD.com will handle end-to-end fulfillment by transporting goods from its U.S. warehouses to China using its own cargo flights and completing deliveries.
Thrasio, an Amazon aggregator that has snapped up over 200 brands in just three years, is launching in India after acquiring a home appliances startup called Lifelong Online, which manufactures and sells over 100 products ranging from toasters to treadmills on its website and through marketplaces like Amazon and Walmart-owned Flipkart. Thrasio is looking to make a big splash in South Asia's biggest economy, home to 750,000 sellers.
Amazon is losing ground to social commerce apps in Asia. Singapore’s Shopee and India’s Meesho are two e-commerce platforms that leapfrogged it last year to become the first and third biggest global shopping apps. There may be some clues for why Amazon's overseas growth is flagging: Despite stiff competition, Amazon has yet to embrace social commerce.
Walgreens is posting growth in sales of beauty products after rethinking its approach to the category. The pharmacy chain recently reported a rise in beauty and personal care comp sales. Experts said the company is also trying to capitalize on the increased foot traffic generated by vaccines through broader digital investments in its app and loyalty program.
Boston-based Klaviyo, for example, was already profitable by 2015, but the pandemic turbocharged the company’s growth. Amid the explosion in online shopping last year, VCs gravitated toward specialist startups built atop e-commerce services, including Amazon aggregators and Shopify apps. With its latest funding round in May, Klaviyo was valued at $9.15 billion, cementing its position as a leading light within its cottage industry.
Even with the e-commerce boom, value footwear retailers DSW and Shoe Carnival aren't losing sight of the importance of their brick and mortar footprints after a recent rebound in sales. Both companies are modernizing their existing stores with the addition of shop-in-shops, digital signage and services for kids.
Next, which owns about 500 stores in the U.K. and Ireland and 190 franchised stores in 36 countries, reported on Thursday that it increased its full year profit guidance before tax by £22 million to £822 million, up 9.8% versus two years ago. The retailer said it is generating substantial growth from its online marketplace for third-party brands.
Fashion has become big business for Amazon, but apparel brands are facing challenges around pricing that could dictate how the category performs this year. The issues range from inflation to competition from third-party sellers. Within the fast-paced and dynamic selling environment of Amazon, businesses are increasingly investing more capital and time in a bid to entrench themselves in the e-commerce marketplace, according to sellers and consultants.
Big platforms like Facebook and YouTube doubled down on livestreaming this year. To fend off the competition, a bevy of startups are using the hundreds of millions of dollars they have in their coffers to boost their offerings and bring their specialist platforms to the mainstream. And it points to a battle brewing in 2022, with the startups expanding and offering more services in anticipation of a showdown with the digital giants.
Next year, digital media giants are slightly pivoting to set their sights more seriously on livestreaming in an effort to generate more conversions. To get there, Meta and YouTube are devoting more resources to boost awareness of the format among brands and creators.
With more than $3 billion in funding raised this year, three Amazon aggregators are planning to bolster their product portfolios and launch into new markets in 2022. Thrasio, Goja and Olsam follow the roll-up playbook of acquiring third-party businesses from Amazon’s platform and boosting their sales using proprietary data. But that’s where the similarities end.
Shopify, BigCommerce and a host of other companies offer subscription-based tools to set up and scale digital storefronts. Last year, they witnessed explosive growth. Amid a recent slowdown, these e-commerce platforms are focusing on new areas of growth from international markets to social media platforms that offer shopping services.
Adidas is banking on digital collectibles to drive new customers to its streetwear app, "Confirmed." As part of a new initiative, Adidas has become the latest brand to embrace NFTs. Adidas’s senior director for digital growth, Tareq Nazlawy, spoke with Modern Retail about choosing collaborators in the NFT space, how digital goods can help it to partner with more external creators and why it is difficult to put a price on the metaverse’s monetization opportunities.
Makers of premium and indie skincare and cosmetic products say they are spending more on ads and obsessing over customer data to establish a foothold on Amazon. Some are benefiting from the unique perks that the e-commerce giant offers to select brands as incentives to use its platform.
After a record-breaking year, Shoe Carnival is showing no signs of slowing down. "We are entering rapid growth mode," CEO Mark Worden, who took the reins in September, told Modern Retail. "Our goal is to become a multi-billion dollar retailer."
Brands and retailers are retaining their resources and keeping the tech stacks they have. That's according to a recent survey of brands and retailers from Modern Retail and Glossy. The respondents were asked if they've updated their e-commerce platforms in the last year, and many said they hadn't
Read MoreJoin us at the Modern Retail DTC Summit, where we’ll dive deep into what it means to be a DTC brand, speaking with leaders in the space about how their business models have shifted and what they’re focusing on now.
Book Passes
