Cheers to the weekend! 🥂

It's another Friday and that means another round-up of the top retail and e-commerce stories from the past week. Here are some of the most noteworthy headlines:

• According to a survey by the National Retail Federation and Appriss Retail, returns have increased to an average of 16.6% in 2021 versus 10.6%. 
• China’s e-commerce giant, JD.com has teamed up with Shopify to provide US brands and retailers a way of selling their products in China.
• Snapchat has introduced features that will make it easier for users to interact with augmented reality e-commerce ads. 

Top Retail and E-commerce Stories

Sometimes They Come Back: Returns are Up from the Holidays

And sometimes they come back, again...If you're like most retailers, your returns have increased since the holidays. A survey by the National Retail Federation and Appriss Retail found that the average return rate is 16.61% in 2021, up from the 2020 rate of 10.6%. With more people shopping online, shoppers tend to cut the decision-making process and add items to their carts that they may not have originally intended to purchase--only to return them a few days later.

According to the National Retail Federation, online sales made up approximately 23% of all retail sales in the United States in 2021. However, returned goods become a burden for businesses that must decide whether they can resell them, get them written off by the manufacturer, or just accept the loss.

Uno Reverse: Shopify expands to China with JD.com

Yup, we're finally playing the Uno reverse card. To help U.S. businesses sell their items in the world's second-largest economy, Shopify has teamed up with JD.com, China's e-commerce behemoth. 

The partnership represents a significant step forward for Shopify's presence in China and is another move in JD's internationalization strategy. For Shopify, the move provides access to JD's massive pool of shoppers and brands; for JD, it bolsters its presence in cross-border e-commerce. 

JD said it will establish an "accelerated channel" for businesses on Shopify to sell via its cross-border e-commerce site in China. Rather than the usual 12 months that foreign companies need to wait before they start selling in China, merchants may begin operations within three to four weeks, according to JD.

JD will take care of the pricing conversion and logistics from the United States to China. And with its own delivery arm, it can tap into its vast network of delivery personnel and warehouses, which it sees as a competitive advantage over Alibaba. In turn, they also said that JD and Shopify will "collaborate to make it easier for Chinese companies interested in selling in Western markets."

Snap to Buy: Snapchat Introduces Augmented Reality Shopping

Snapchat's camera is the new storefront. Snapchat is extending its augmented reality advertising, attempting to assist merchants to obtain a sale by utilizing their camera-overlay technology.

Snapchat has been teaching businesses to utilize the Snapchat app to show products through camera overlays, allowing consumers to experiment with a new lipstick shade or shoe style digitally. Now, according to the firm, businesses may enhance their augmented reality advertising by adding more information above the ad, such as product descriptions, pricing, and purchasing links.

A LITTLE MORE

• E-procurement zeroes in on $1 trillion in annual sales
• Shopify shares tumble on a report of it terminating fulfillment contracts
• Archive aims to put clothing brands in control of their secondhand sales

FUN FACT

80% of online customers are deterred from making a purchase if the return policy appears inconvenient or complicated.

QUICK TIP

Try this. Add a flash sale section to your store. Creating urgency through time-limited offers can help drive traffic and encourage purchases. In this section, you can choose to add a countdown timer and rotate your products once a week to create variety.

TWEET TWEET

“Play by the rules, but be ferocious.” – Phil Knight

OLDIE BUT A GOODIE

If you're curious to know what YouTube looked like back in 2005, here's a throwback photo! It's amazing to see how it's evolved over the years and become the second largest search engine.