Global Ecommerce News from June 12 to June 21

Global Ecommerce News from June 12 to June 21

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Last Friday Amazon shocked the entire retail and ecommerce market in the US by announcing their pending acquisition of Whole Foods Market for $13.7 Billion. The impact was felt by other retail stocks that lost value for the remainder of the day. Walmart’s acquisition of Bonobos was silenced as media buzzed with the Amazon – Whole Foods Market news.

A look around the ecommerce globe, with selected highlights:

  • Walmart has agreed to acquire the men’s clothing company Bonobos for $310 million. The purchase is part of a sweeping effort by the world’s largest retailer to revamp its business model as it tries to better compete with Amazon, which on Friday announced that it would buy the upscale grocer Whole Foods for $13.4 billion. Bonobos, founded 10 years ago in New York, began by selling simple chino pants on the internet. In recent years, it has expanded to offer shirts, suits and other men’s clothing, and has opened dozens of brick-and-mortar locations, as well as boutiques in Nordstrom department stores, a previous investor in the start-up. Read more at The New York Times

  • JD.com, China’s second-largest ecommerce company, plans to enter the Thai market later this year in a move to expand its overseas business beyond Indonesia, its founder and chief executive said on Friday. Richard Liu also told Reuters in an interview the company planned to use Thailand as a hub for servicing other Southeast Asian countries such as Vietnam and Malaysia. Read more at Reuters
  • Katrina Lake, 34, is the founder and chief executive of Stitch Fix, a San Francisco clothes shopping start-up that brought in $730 million in revenue in its 2016 fiscal year that ended July 31. Stitch Fix is regarded as one of the few major success stories in the subscription shopping world. Customers fill out a detailed profile of their size, style and taste and receive a box of five pieces of clothing, shoes and jewelry monthly, bimonthly or quarterly. Read more at Los Angeles Times
  • Amazon is going after Walmart with a 45 percent discount on Prime for lower-income shoppers. Amazon already owns the high-income shopper segment in the U.S. Now it’s making a bid to court those who have less income at their disposal. On Tuesday, Amazon announced that it is offering a 45 percent discount on Prime memberships — $5.99 a month instead of $10.99 month — to U.S. residents receiving government assistance. Read more at Recode
  • As anyone who uses a cashback credit card knows, little savings can add up. That’s the idea behind Amazon Prime Reload, a new cashback program for Prime subscribers. With it you can get a 2 percent reward on everything you buy from Amazon. It may not sound like much — but it can add up. Read more at CNET

Try-Shopify
  • Honest Company, a startup co-founded by actress Jessica Alba, will start to sell the company’s diapers, body wash, and other consumer-products goods on Amazon.com for the first time later this month. The move to sell on Amazon is part of a broader push to expand the brand’s presence on in-store shelves as well. Honest, which first launched as a direct-to-consumer business, currently stocks goods in around 18,000 brick-and-mortar locations. Over the next two years, the startup hopes to double the amount of stores the Honest brand can be found in. Read more at Fortune
  • Less than a year after Condé Nast relaunched Style.com as a fashion ecommerce site, the company is closing the business and forging a new strategic partnership with Farfetch. Style.com will discontinue operations, effective immediately, and the site’s URL will redirect to Farfetch.com. Farfetch has acquired Style.com’s trademark, intellectual property and customer database. Read more at Business of Fashion

  • Indonesian online travel agent Tiket has been acquired by Blibli, an ecommerce site backed by Indonesian tobacco conglomerate Djarum. The firms announced this at a joint event in Jakarta today. It’s a 100 percent takeover, but no further details on the deal were disclosed. Blibli, an ecommerce site with a diverse range of products, began branching out into travel at the end of last year. With this acquisition, it can fast-track growth in this segment. Read more at Tech In Asia
  • MorningSave: How the Former Woot Founders Are Building a New Kind of Shoptech Platform. This is worth pondering. It is not just interesting conceptionally but also from a technical point of view. With Checkout.org, they are working on decentralising the shop system. This trend becomes more relevant every day in a mobile world with apps, new platform paradigms (chatbots, etc.) and -generally speaking- an increasing array of distinct ways on how to reach customers. Read more at Early Moves
  • Amazon has plans to enter the European car dealership industry and is now recruiting staff. That has been confirmed by Christoph Möller, head of Amazon’s European auto division. In Italy, a pilot project is running and now the American company is looking to expand to the United Kingdom. In the US, Amazon is already active on the online car market with Amazon Vehicles, although it doesn’t sell cars online. It does offer a comprehensive overview of almost all models, including reviews of users. Read more at Ecommerce News Europe

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