In less than two weeks, Amazon will launch Prime Day, a massive summer shopping event that was once known for its hefty discounts. However, given the current difficult macroeconomic climate and limited inventory, some brands might not offer as deep of discounts as they normally have.
Even as the cryptocurrency market is headed for a downturn, established e-commerce platforms are starting to more seriously integrate non-fungible tokens, or NFTs, into their platforms. On June 22, eBay acquired NFT marketplace KnownOrigin for an undisclosed sum, signaling the e-commerce giant has larger ambitions for the world of blockchain technology and digital collectibles.
Amazon just named its long-serving consumer business executive Doug Herrington as the new CEO of its consumer business. Experts say Herrington will bring a significant new focus to Amazon's under-penetrated retail categories like its grocery business.
As concerns about a looming recession grow louder, Amazon merchants are carefully tracking how consumer behavior is changing, even as experts noted that, Amazon will likely keep things manageable for sellers.
As more people return to stores, Shopify will help its merchants grow offline sales with new features that range from tap to pay to leveraging local commerce through a partnership with Google.
This week, Insider reported that Microsoft has discreetly launched a new feature called Buy Direct, with a few hundred online merchants in the U.S., including lesser-known brands like Yamay, Encolax and Nachen among others. Buy Direct allows people to buy products without having to go to another retailer's website -- essentially, turning Bing into a marketplace.
Amazon is hoping to attract high-income consumers and grow the number of brands it has on its Luxury Stores platform at a time when a massive recession is lurking in the backdrop. But analysts tracking the company remain divided on whether Amazon can crack the online luxury shopping segment.
Amidst a slowdown in core growth and rising inflation, experts believe that advertising revenue seems like the obvious choice to become Amazon’s next growth engine, given the gold mine of user data the company owns.
Last week, Amazon announced that its global consumer chief Dave Clark, who has been instrumental to Amazon's success in high-speed deliveries, is stepping down. Now, Amazon's new consumer CEO will have to reinvent the wheel to tackle dwindling growth.
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