Yay for Friday! 

This has been a long week, but before we all race off into the weekend, let's take a look at some of the top stories. 💪

• Players who buy now, pay later are losing money as expenses rise
• By 2028, the e-commerce apparel market size is expected to exceed $941.0 Billion
• Snapchat goes all in with AR Shopping 
• Amazon's surprising new delivery partners: Small rural businesses

Top Retail and E-commerce Stories

BNPL Players Beware: BNPL Costs Surge as Losses Grow

Get what you want now, worry about the bill later. In just over 20 years, the BNPL has gone from a shopping gimmick to a multibillion-dollar industry on three separate continents. Its rapid expansion hasn't been cheap. Because none of the major pure-play BNPL rivals, such as Klarna, Affirm, Afterpay, and Zip are profitable.

On the other hand, their merchant clients are starting to ask if they are paying hefty costs to BNPL fintech firms for sales that would have happened anyway.

Don't Be Left Behind: E-commerce Apparel is Booming

The future of fashion is online. According to a recent report from Grand View Research, Inc, by 2028, the global e-commerce apparel market is projected to reach $941 billion, with a growth rate of 7.9% over the next decade. 

The e-commerce sector has played an important role in increasing worldwide market size. Luxury brands, which were formerly reserved for big spenders, have spread via e-commerce to encompass everyone. The flexible payment options, accessibility, and easy return policies are all propelling the market forward and are expected to do so over the next several years.

Snap to It: Brands Expanding Reach with AR

Try on clothes without having to try on clothes. Say What? Since January of 2021 more than 250 million Snapchatters have used AR shopping lenses. At their recent summit, Snapchat announced how brands such as Puma and Zenni Optical have incorporated Snap AR Shopping.

Through Snap AR, shoppers can experience brands and products before buying them. For Zenni Optical, app users have tried on the brand's AR lenses more than 60 million times, and lenses that offered "true size" technology drove a 42% higher return on ad spend than lenses without the feature.

The Amazon Corner

#SupportLocal: Amazon Partners with Rural Mom-and-Pop Shops

Local businesses join forces with Amazon. Amazon has been soliciting small businesses in rural America to participate in an experimental delivery program. The firm is compensating participating little companies a per-package commission to deliver Amazon purchases to their neighbors' houses in states like Nebraska, Mississippi, and Alabama. 

Amazon is looking for small business owners in a number of sectors from florists to restaurants to information businesses, and none of them need prior delivery expertise — just a promise to deliver Amazon packages seven days a week, around 360 days per year, and a physical location where packages might be picked up each morning.

A LITTLE MORE

• Key e-commerce trends to bring your business to new heights
• United States Social Commerce Market Report 2022-2028
• The new Klarna virtual-shopping function will link consumers with salespeople.

FUN FACT

Consumers are increasingly vocal about their negative experiences with products and businesses. According to studies, 55% of online shoppers tell friends and family when they are dissatisfied with a product or company.

QUICK TIP

Try this. Offer voice commerce shopping. Voice assistants boost customer interaction, make online shopping easier, and collect consumer data.

TWEET TWEET

“Don’t sit down and wait for the opportunities to come. Get up and make them.” - Madam C.J. Walker

OLDIE BUT A GOODIE

10 years ago, here's what Snapchat looked like!