Google vs. Amazon, robots taking over, Gen Z shoppers go global, and more....................................................................................................................
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As you finish up your workweek and prepare for some time off, here are the top retail and e-commerce stories this week: ✨
Amazon's battle with Google for e-commerce dominance continues as Google launches new shopping features.
For its e-commerce warehouse picking robots, Nomagic gets $22 million.
Younger customers are more likely than older consumers to purchase from international companies, a new poll reveals.
Amazon is looking for a warehouse to sublease as online shopping slows down.
Top Retail and E-commerce Stories
Who Ordered a Knuckle Sandwich? Google vs. Amazon
A Storm is Brewing. As we all know, Googlehas tried to copy Amazon's online retail and delivery services with little success. But not anymore.
As the Anti-Amazon, Google's new upgrades enable customers to search for nearby shop items or find anything in the real world with the press of a camera. And on Tuesday, Google revealed their latest tool that allows customers to go from Google search merchant listings to their checkout pages in one click.
The danger for Amazon is that Google now has the potential to give brands a way to thrive outside of its platform. As a result, Amazon will need to work harder to court sellers with fee reductions, lower advertising costs, and premium logistics services.
Warehouse Workers Rejoice: Nomagic Picks Up $22M
Rise of the Machines. Nomagic, which has created a robot arm that can identify and pick out an item from an unordered selection and then move or pack it into another location has raised $22 million in funding to use toward both expanding and developing its business.
The robots' arms were originally designed to pick up and move small consumer electronics, such as phones, cables, and tiny toys. They've now been expanded to include things like bundled clothing. Kacper Nowicki, the company's CEO, and co-founder said that over time, additional categories would be added to reflect evolving consumer habits and what people are purchasing online these days.
The firm already has a number of clients in industries including fashion, e-commerce, and third-party logistics providers. While it currently uses computer vision to recognize items and interpret codes, in the future it is expected to incorporate a variety of technologies like radio-wave scanning to identify products.
A New Breed of Shoppers: Survey Shows Young Consumers Love International Brands
Millennials and Gen Z are shaking up the market. Anew survey has revealed that younger customers are more likely than older consumers to purchase from international companies.
Covid might have stymied international travel for the past two years, but young shoppers have found another way to bring the world to them. According to a Retail Brew/Harris Poll poll of 2,023 Americans conducted earlier this month, US consumers under the age of 40 are leading the charge when it comes to purchasing foreign brands.
In the last year, 71% of Zoomers (Gen Z) and 74% of millennials bought from an international business—not counting food and beverage items—including global names like Louis Vuitton, Shein, and Zara.
Millennials and Generation Z, in particular, are looking for brands outside of the United States with a specific aim: 29% of both Gen Z and millennials said they intentionally purchased with an international company at least once a month.
Most popular categories among all US consumers were fast-fashion clothing (45%), electronics (41%), and personal care (41%).
The Amazon Corner
Warehouse for Rent: Amazon to Sublease Warehouses as Online Shopping Slows
Are the good times really over? The COVID-19 pandemic has led to a slowdown in online shopping, andAmazonis feeling the effects.
As a result, Amazon has decided to "relieve the financial obligations connected with an old structure that no longer meets" its demands, according to spokesperson Alisa Carroll by renting the excess space.
Carroll didn't share how much space the firm intends to sublease. According to anonymous sources, however, The Wall Street Journal and Bloomberg News reported earlier that Amazon would lease at least 10 million square feet of space and may terminate more of its leases in states including New York, New Jersey, and California.
Amazonis launching its first physical clothing store, which will feature Calvin Klein and Lacoste.
Partnering with customers instead of merchants,BNPLgets a glow-up with Zilch.
FUN FACT
43% of US shoppers are more likely to make their online purchases from bed.
QUICK TIP
Try this. The most important thing to remember about your brand is that it's made up of repeat buyers. Loyalty programs may be one of the most effective methods to retain customers and boost your bottom line.
TWEET TWEET
“If you really look closely, most overnight successes took a long time.” – Steve Jobs
On this 34th episode of The E-Comm Show, our host and BlueTuskr CEO Andrew Maff is with Nezar Akeel of MaxPro Fitness. Nezar appeared on Shark Tank late last year where he bagged a deal with Mark Cuban.
Tune in to this episode with Andrew and Nezar as they talk about their Shark Tank journey, marketing in the time of COVID, and how MaxPro Fitness has completely changed the fitness game in just 20 months.
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