Sales, expansions, and unending competition in the retail and e-commerce sphere are keeping everyone on their toes. This week’s newsletter will bring you up to date with some of the biggest news stories:
Amazon to levy charges on sellers who handle their own product shipments.
QVC broadens its private label offerings to now include adaptive clothing.
Walmart experienced a tremendous surge in online sales, while Target, on the other hand, faced a slowdown once again.
Apparently, the American shopping mall is not on the verge of extinction.
The Amazon Corner
Amazon Cracks Down: Sellers Slapped with Fees for Self-Shipping
Uh-oh... Amazon.com Inc. is introducing a new fee for merchants who opt not to utilize the company's logistics services. This unexpected move has left many sellers feeling coerced, especially given the impending antitrust lawsuit by the U.S. government against the e-commerce giant.
Starting in October, thousands of third-party merchants participating in Amazon's Seller Fulfilled Prime program will be subject to a new 2% fee per sale, as revealed in documents reviewed by Bloomberg. This fee will be in addition to the commission, typically set at 15%, that these merchants already pay to sell their products on the widely-used online marketplace.
Style Meets Accessibility: QVC Revolutionizes Fashion with New Line of Adaptive Clothing
Photo Credit: Courtesy of QVC/Retail Dive
Yay for inclusivity! QVC, a video commerce company, recently expanded its Denim & Co. private label to introduce a new collection called Denim & Co. Adaptive. This collection offers clothing in sizes ranging from XXS to 3X, specifically designed with functional features to cater to individuals with disabilities, those in post-surgery recovery, wheelchair users, the elderly, and caregivers. This extension aims to provide inclusive and accessible options for a diverse range of customers. The announcement was made on August 4th.
Denim & Co. Adaptive is a new addition to QVC's existing accessible and adaptive category, which was launched in March. The company proudly claims to be one of the first retailers in the United States to offer a comprehensive range of accessible products across multiple categories, curated to suit customers' full lifestyles.
Winners and Losers?: Walmart's Online Sales Skyrocket as Target's Lag Behind
Someone can't keep up... Target Corp. and Walmart Inc. reported their earnings for the fiscal second quarters of 2023 and 2024, respectively. Walmart experienced growth in both online and in-store sales, whereas Target struggled to keep up in both channels.
Walmart experienced a remarkable quarter, with its online sales emerging as a standout. In the second quarter of fiscal year 2024, which concluded on July 28, 2023, the company witnessed a substantial growth of 24% in its U.S. online sales.
Meanwhile, in the second quarter of fiscal 2023, Target experienced a 10.5% decline in digital sales compared to the previous year, while in-store sales saw a 4.3% decrease. Despite these challenges, Target generated a total revenue of $24.8 billion in Q2, marking a 4.9% decrease compared to the previous year.
Walmart claims the second spot among North America's online retailers based on web sales, with Target securing the fifth position in the Top 1000. Additionally, Walmart ranks at No. 9 in Digital Commerce 360's Global Online Marketplaces Database, a comprehensive ranking of top online marketplaces.
Don't count it out yet... Despite the increasing popularity and success of e-commerce, physical shopping centers are far from extinction. In fact, a recent market analysis from Coresight Research has indicated that numerous businesses are experiencing strong occupancy levels and larger crowds compared to pre-pandemic times.
According to a report published in June, Coresight revealed a significant increase in foot traffic at top-tier malls, with a 12% rise in 2022 compared to 2019. Furthermore, lower-tier malls experienced a 10% increase in traffic. The research firm defines "top-tier" centers as those situated in affluent areas where the average shopper boasts an annual income exceeding $200,000. These malls are known to showcase newer brands and luxury retailers, catering to the discerning tastes of their clientele.
Try this. Personalize your customer shopping experience. This includes creating product recommendations, delivering personalized emails with special offers, or sending out loyalty rewards for repeat customers.
FUN FACT
Social media influence drives 40% of purchase decisions.
LISTEN UP
First-party customer data plays a pivotal role in driving e-commerce growth. On this 99th episode of The E-Comm Show, Andrew chats with Cary Lawrence, CEO & founder of Decile. This customer data and analytics platform provides access to mid-sized brands to use first-party data to their advantage.
From creating a more robust customer profile to uncovering insights about customer behavior, Cary will discuss how Decile is helping businesses leverage their first-party data to drive more effective marketing campaigns and increase revenue.
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