This week, the retail industry saw major layoffs from a few of its biggest players. Here are the biggest headlines from each:
This season, Shein hasthe potential to become asrecognizable and notorious asTikTok due to their suspected evasion of taxes, use of slave labor, production of hazardous products and sizable carbon footprint.
Walmart's recent decision to terminate hundreds of US employees from five e-commerce fulfillment centers has been met with shock and dismay.
Last year saw a monumental rise in the purchase of sustainable products, according to recent reports.
Helium 10 teams up with Pacvue for their ultimate company-wide rebranding.
Customers of SHEIN are considered the importers for all products that they purchase via app or online. This means SHEIN pays no import tariffs on any clothing items bought in America, and orders totaling less than $800 avoid duties completely.
SHEIN carries incredibly affordable items, allowing customers to purchase an abundance of fashionable and inexpensive clothing for a mere $800. This extensive variety ensures that shoppers will never have to worry about styles changing before they get a chance to wear them all - sparing any need for reporting requirements.
As the country's biggest private employer, Walmart is reducing its staff following forecasts of static or dwindling sales from retailers. The cost uptick and reprioritization of services are having a notable effect on merchandise purchases, especially after the coronavirus-induced surge in spending.
Reuters was notified by the organization that hundreds of positions were being let go across five fulfillment centers, located in Pedricktown, New Jersey; Fort Worth, Texas; Chino, California; Davenport, Florida, and Bethlehem Pennsylvania. They reported this move as a result of reducing or completely cutting back on evening and weekend shifts.
A notice filed with the state revealed that approximately 200 employees will be affected when Walmart's southern New Jersey facility shuts down due to a predicted decrease in sales growth and profits for their upcoming fiscal year.
The green revolution is here, and it's growing. 🌱 In the face of sky-high inflation,sustainability-marketed products made an impressive impact in 2022, increasing their market share to 17.3% - a 0.3% rise from 2021 - as reported by Circana and NYU Stern Center for Sustainable Business.
Despite the fact that the cost premium of eco-friendly products has been slowly decreasing, some brands saw a potential to raise their prices due to inflation. However, there is still hope as conventional brands have started adding sustainable features while keeping costs at a low level.
Despite the steeper prices, some shoppers are willing to pay a higher price for products that reflect their values. A survey from Shopify in November revealed that 40% of customers would invest more in eco-friendly items during the holiday shopping season and 43% leaned towards buying from companies with sustainability practices such as low-waste business activities and carbon-neutral shipping.
An overwhelming majority of younger consumers have changed their loyalty to brands due to social media's impact. A survey from Unilever discovered that three-fourths of participants stated they had begun practicing more eco-friendly habits as a result of this content.
As Pacvue begins its initial rebranding efforts, it has since reshaped its identity with its new tagline, "Maximize your commerce potential." Melissa Burdick, co-founder and president of Pacvue shares "As Pacvue rebrands, we’re excited to align with Helium 10’s mission to help brands continually improve and grow their business. Together, we’re able to provide our customers with a fully-integrated suite of solutions that enable time savings, elevate performance, and drive incremental and profitable sales growth."
Helium 10 and Pacvue have worked well together thus far in their efforts of accelerating commerce in new and improved ways. As this rebranding continues to propel forward, customers can still expect the same amazing results and the quality and support that both brands provide.
With sustainability taking center stage, are you including green marketing in your marketing strategy? We'll be posting the results next week!
QUICK TIP
Try this.Leverage retargeting campaigns to ensure that shoppers who abandon their carts come back and complete the purchase. Retargeting offers a unique opportunity to tailor ads to your customers based on their previous purchases and interests, increasing the potential of closing sales.
FUN FACT
22% of online shoppers abandon their purchase due to slow shipping speeds.
LISTEN UP
On this 78th episode of The E-Comm Show, our host, and BlueTuskr CEO Andrew Maff is with Chris and Mike of City Bonfires. City Bonfires make portable and reusable mini bonfires that you can take on any outdoor adventure. Discover how two dads who were laid off during the pandemic mobilized their creativity and innovation to start a brand that has surpassed $25 million in sales. Learn how they created a digital-first approach to customer experience and marketing strategies that have led to product expansion!
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