Brands go big with BNPL, Wal-Mart steps up livestreaming game, and a new checkout experience just released. Details inside ............................... ......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
It’s been a long week, but we made it! Here are your top retail and e-commerce stories for the week:
Wal-Mart goes all-in with livestreaming.
Authentic Brands Group Inc. wants to develop clothing products and incorporate NFTs and cryptocurrency payments in the future.
After integrating Klarna as a buy-now-pay-later option, this jewelry store's online sales grew 14%.
Amazon is closing 68 retail stores, including Amazon Books and 4-star and Pop Up shops.
Top Retail and E-commerce Stories
The Future of Social Buying: Walmart Partners with Talkshoplive to Launch 8 Livestreaming Shopping Experiences
Livestream your next shopping spree! As we continue to experience a surge in e-commerce and live streaming, it was only a matter of time before the two collided. According to a Talkshoplive press release, the company has announced an expanded partnership with Walmart, offering additional live streaming shopping experiences.
This agreement comes after previous live streaming events featuring Rachael Ray, Ree Drummond, and Drew Barrymore showed positive sales results. According to research, livestream shopping is expected to grow globally to $223.98 billion by 2028.
Blockchain is Coming: Authentic Brands Group Inc. Plans to Add NFTs and Crypto Payments
From sneakers and apparel to...NFTs and crypto? It's no secret that blockchain is on the rise, and Authentic Brands Group Inc. is planning to hop on the bandwagon.
ABG, the firm which owns and manages a portfolio of more than 30 worldwide consumer brands such as Juicy Couture, Brooks Brothers, and Eddie Bauer, announced plans to develop its apparel offerings and include NFTs and crypto payments following its recent acquisition of the sneaker brand, Reebok.
According to CEO Jamie Salter and Authentic President Nick Woodhouse, people can expect Reebok NFTs and crypto payments later this year.
The Secret to Selling More: Jewelry Retailer Uses Klarna to Boost E-commerce Sales By 14%
Need a little boost to your e-commerce sales?Klarna's got you. At checkout, nearly 75% of Keyzar Jewelry consumers choose to pay using Klarna as their buy-now-pay-later option. The online retailer caters to millennial and Gen Z customers who prefer it over PayPal and Shopify's Shop Pay payment options.
Keyzar Jewelry noted that within one month after offering Klarna, conversions increased by 6% and then 5% the following month.
According to reports, Klarna is the most popular payment method worldwide, followed by Afterpay and PayPal.
The Amazon Corner
End of an Era?: Amazon Closes Down 68 Retail Stores
Is it goodbye? The e-commerce giant confirmed to CNBC that it will shut all of its Pop Up, Amazon Books, and 4-star shops. Over the years, Amazon has established a number of brick-and-mortar locations, ranging from supermarkets to retail outlets featuring Amazon goods and other top-selling products that it also sells online.
Due to the lag in sales growth at physical locations, Amazon announced that it will be closing 68 shops across the United States and the United Kingdom.
In the United States, 43% of people shop online while they are in bed.
QUICK TIP
Try this. It's important to write clear and concise product descriptions when it comes to generating product listings. Don't be drawn into cramming the product description with a slew of keywords; this will lower its visibility. The features of the goods should come first, followed by answers to essential queries your consumers may have.
In 2007, when two hosts welcomed three guests in their home in San Francisco, Airbnb was born. Here's a snapshot of Airbnb's humble beginnings.
LISTEN UP
On this 22nd episode of The E-Comm Show, our host and BlueTuskr CEO Andrew Maff is with Adam Dinkes of TANI USA, an online retailer of high-quality luxury undergarments for men and women. An entrepreneur at heart, Adam started his first business at 9 years old and today, he’s running a multimillion-dollar luxury fashion brand.
Listen to this episode of The E-Comm show as Adam and Andrew talk about the ins and outs of building a powerful 7-figure brand from learning to map opportunities, identifying your USPs, and weaving your brand story. Adam also shares practical tips and tricks on how to showcase your product through product descriptions, videos, packaging, and more.
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