Reservation platforms like OpenTable, Resy and Tock have modified expanded their toolsets, resulting in a new category of retail appointments. As restaurants are either closed or relying takeout only, these back-end services are scrambling to pivot their offerings to survive the year. “I think retailers are going to turn to appointment based visits indefinitely,” Tock CEO Nick Kokonas said.
As the coronavirus upends consumer behavior, it presents a double-edged sword for Shopify, which powers the e-commerce sites of more than 1 million merchants. As more shopping takes place online while stores are closed, the digitally-native companies that run on Shopify could be well positioned to capture a large portion of this spending. But first, Shopify needs to make sure that these e-commerce companies, many of whom also have stores, survive the enormous hit to their offline sales.
Pinterest's retail partnerships team at Pinterest has been sharing data with participating retailers “on a weekly basis," said its head of retail. The social media platform has been giving brands ideas on the kind of content customers are searching for on the platform.
Amazon is witnessing historic demand, and third-party sellers are noticing a wave of changes. For one, the platform's algorithms to crack down on bad behavior is causing adverse effects. And brands have been unable to find any way to directly communicate with Amazon. One top brand explained just how difficult it's been to sell on the Amazon platform.
Longevity in the coming year will require “re-imagining at home consumption,” said COO Brian Smith, with restaurants and hospitality down at the moment. Here are some takeaways about how the wine brand has strategized in this current economic climate.
Amazon's sales went up during the first quarter of this year, but so too did costs. This certainly has to do with the coronavirus -- as do the plans to re-invest all of its profits into the business. The company's latest earnings report shows that even the industry leaders have some cracks in the business.
Poshmark CEO Manish Chandra said Posh Stories, its version of the short video format, is expected to replicate the success that social shopping has achieved in markets like China.
With many businesses closed, CPG brands are seeming sales plummet. Indeed, Coke just reported that it saw a 25% sales volume drop earlier this month. As a result, many bigger brands are likely trying to rethink their digital strategies -- and are looking to adopt more direct-to-consumer programs.
Amazon has historically had difficulty keeping track of bad actors on the platform. Now, the company is having the opposite problem -- numerous brands are receiving automated alerts about issues they claim are false. For some, Amazon alleges price gouging. For others, it's about whether their FDA approved product is truly over-the-counter. For these sellers without a direct line to Amazon to appeal they're stuck with products suspended and sales dwindling.
Amazon's decision in March to temporarily stop accepting shipments of non-essential goods to its warehouses left many sellers in limbo. That presents a new opportunity for other marketplaces like eBay, Walmart, Target and Google to woo over dissatisfied sellers. Earlier this week, Google announced that it would be now making it free for merchants to sell their products on Google Shopping. Previously, merchants were charged on a cost-per-click basis.
Growing coalitions between brands via community and content is one bet for them to survive. During the pandemic, they're "banding together to weather the storm."
Former ad exec Wiener said that with many brands, it’s not so much changing what they were doing but doing it faster. "It’s not going to be an evolutionary change, but revolutionary."
Micro-fulfillment solutions company Takeoff Technologies’ has seen a surge in grocery clients' orders. Chief business officer Curt Avallone explained how the company is solving the last mile problem and why major supermarket chains are getting on board with delivery.
To many, Facebook Marketplace is a destination for used goods and/or oddities. But more brands are looking to the online marketplace to sell their goods -- especially as they experience woes with Amazon. While there is more interest in the social network's commerce tools now, it's unclear this wave is longterm.
Business owners are eager to stabilize and create a survival plan, and pricing is crucial. In a new guide, learn how to set prices in real-time by analyzing historical sales data and rapidly adapting to market changes.
Exclusively for Modern Retail+ members: Hear from Hugh Thomas, Co-founder & CEO at Ugly Drinks, on how to find customers where they are.Subscribe