The countdown has begun for sellers: after a months-long delay, Amazon has officially announced a new date for Prime Day. Amazon's annual sales event will now be held on October 13-14. On the one hand, some sellers are hoping that more customers will use Prime Day to do their holiday shopping, and allow them to capture a greater share of sales than they would have if the event was once again held in July. But, others are concerned that more shoppers will decide to just wait a few more weeks, in the hopes of getting better deals on Black Friday and Cyber Monday.
Amazon’s long-rumored luxury platform, now known as Luxury Stores, finally launched on Tuesday after months of speculation. Amazon’s main appeal to brands is its scale, but out of the gate, the platform doesn’t make much use of its 112 million Prime members. Luxury Stores is launching with only one brand, Oscar de la Renta, and is invite-only, with the first round of invites going out yesterday. The small scale, single brand, small selection and invite-only model mean that Luxury Stores' potential to drive sales is limited.
Amazon has a new carrot to dangle in front of struggling retailers. On Tuesday, the e-commerce giant announced a new point of sale solution that it is calling Amazon One. The device allows customers to pay without ever having to take out their phone or credit card, instead paying by placing their palm over a scanning device. But retailers have also become increasingly wary of using Amazon's technology.
While Amazon has yet to confirm the surprise date, Prime Day will reportedly take place sometime in October. That's only weeks before the holiday season kicks off, including the supposedly canceled brick and mortar version of Black Friday. That's culminated in sellers being encouraged to prepare inventory and marketing strategies as the event approaches.
Earlier this week, the social video app announced a partnership with the commerce platform Teespring. While the details haven't been finalized, the two companies will be working together to create an integration that allows TikTok creators to sell their merchandise on the app. It's a small but important step for TikTok, as it tries to find ways to prove to brands that it's more than just a platform where teens share irreverent videos.
Alibaba's long play to become an e-commerce player in the U.S. is well on its way, as reflected by its latest quarterly earnings. Despite a global pandemic and being caught amid political tensions, the Chinese retailer is quickly gaining market share among competitors like Amazon and Walmart.
Once known for their ubiquitous yet irrelevant presence, quick response (QR) codes have made a comeback during the pandemic. The scannable tech's ease of use is now being applied to digital restaurant menus and checkout payment systems. But it's not just local businesses that are helping QR codes' popularity resurge, but also big companies like Instagram, CVS and Walmart that are investing in building their own.
Pramila Jayapal, a Democratic Congress member from Washington, is not the most obvious candidate for Amazon’s adversary in Congress. But at a recent hearing, she took Jeff Bezos to task. Over the last few years, she's changed the she's dealt with the e-commerce giant as it's become more and more powerful.
After posting record-high sales during its second quarter, Amazon is struggling to maintain enough space in its warehouses for inventory. That's creating headaches for sellers who rely primarily on Amazon's fulfillment service (FBA) to get the majority of their products to customers.
Over months of lockdown, many Facebook users have turned to the social media platform to communicate with the people in the next street, or even the next house. For ultra-small local businesses, usually run by a single individual or a few partners, these same groups have become a haven to communicate with customers, advertise their services and even run the business. For the customers themselves, often unable to travel to neighborhoods further afield, they’re a useful tool to connect with recommendations in their immediate area or support local businesses they know to be struggling.
Amazon saw huge profits in its most recent earnings report. This comes even after the company say three months earlier it would likely spend all of its current profits on coronavirus-related costs. Even so, the company saw record sales and continues to skyrocket. But tensions with third-party sellers still remain a pressure point.
Same-day delivery of food and alcohol has become expected for many consumers. This means third-party delivery services have to get even more creative in retaining and gaining new users. Besides consolidating, the latest strategy for companies like DoorDash and Postmates is to go back to the drawing board and offer non-food items.
During Snap's second quarter earnings yesterday, CEO Evan Spiegel called out e-commerce advertising as one of the company's bright spots during the quarter, as consumers are spending more money online during the coronavirus. Snap's revenue overall grew 17% year-over-year, to $454 million. But, even before the pandemic, Snapchat was heavily focused on wooing new e-commerce advertisers, particularly with new ad formats.
Since launching Instagram Checkout a year and a half ago, which allows customers to buy products from participating retailers' websites, Instagram has made it a priority to get more well-known retailers using the feature. Now, the next step on the app's to-do list is to make shopping more visible on Instagram. That was signaled by the launch of a new Shop tab in Instagram Explore last week. But Instagram still has a ways to go until users think of it as a shopping destination first and foremost.
Instagram has become a vital and affordable tool for local mom and pop shops, especially when it comes to live updates on hours of operation, product availability and reopening plans. With the pandemic’s quickly-evolving nature, the platform's casual posting nature better lends itself to this info than Google. Meanwhile Google's small business information is often outdated or incorrect.
With in-person sales largely out of the picture this holiday season, brands must adapt to deliver the frictionless experiences that online consumers expect and demand.
Recognizing the next generation of leaders across media and marketing, fashion, beauty and retail.Remind Me