Black Friday Experiences New E-Commerce Sales Records

Online sales boomed this Thanksgiving holiday weekend, with record-breaking $4.2 billion in purchases on Turkey Day, followed by $7.4 billion spent on Black Friday. Although this was a new high — up $1.2 billion from last year’s Black Friday — it didn’t meet Adobe Analytics’ prediction of $7.5 billion. Salesforce reported $7.2 billion in sales, even lower than Adobe’s numbers. Of those numbers, $2.9 billion in sales were conducted on smartphones that day. Top-selling electronics included Apple laptops, AirPods and Samsung TVs. Continue reading Black Friday Experiences New E-Commerce Sales Records

ETC@USC Gears Up For January’s CES 2020 in Las Vegas

When CES 2020 opens on January 7 in Las Vegas, it is almost certain that entertainment will be taking center stage. Where emerging technologies have disrupted media and entertainment on a rollercoaster of change for the past few decades, today’s M&E companies are harnessing technologies, driving innovation, and emerging as disruptors themselves. The days of entertainment as a CES sideshow and a way to light up screens to sell TVs are over. Our team of reporters will be at CES again this year covering the latest news from keynote addresses, product demos and related events. Continue reading ETC@USC Gears Up For January’s CES 2020 in Las Vegas

TikTok Is a Hit in India: 400 Million Downloads in Two Years

Although U.S. lawmakers are suspicious of the popular Chinese app TikTok, in India, people are mad for it, particularly those who are young, unemployed and new to the Internet. To stoke the growing enthusiasm, TikTok owner’s ByteDance has pledged to invest $1 billion and build a data center. TikTok India director of sales/ partnerships Sachin Sharma reported that users range from farmers to rich people showing off their Lamborghinis. TikTok is ideal for a market that avoids English and is uncomfortable with search. Continue reading TikTok Is a Hit in India: 400 Million Downloads in Two Years

Alibaba’s Singles Day Reaps $38.3B, Dwarfing Black Friday

On November 11, Chinese e-commerce giant Alibaba brought in nearly $38.3 billion worth of goods in the 24-hour period known in that country as Singles Day. That surpasses last year’s Singles Day that bought in $30.8 billion. Both figures dwarf the numbers for Black Friday, the massive commercial day-after-Thanksgiving sale in the U.S. Alibaba invented Singles Day ten years ago and, since then, has become a tech giant along the line of Amazon or Alphabet. China also has become wealthier and more digitally connected. Continue reading Alibaba’s Singles Day Reaps $38.3B, Dwarfing Black Friday

JPMorgan Intros E-Wallet for Gig Economy, Online Markets

JPMorgan Chase has developed an e-wallet for Airbnb, Amazon, Lyft and the like, to allow them to offer customers virtual bank accounts, car loans and home rental discounts. In doing so, these online marketplaces and gig economy companies will end up spending less on payment processing fees to third parties — including JPMorgan. That might sound counterintuitive, but the catch is that the companies can only avail themselves of the offerings if they let JPMorgan handle all the payment processing and cash exchanges. Continue reading JPMorgan Intros E-Wallet for Gig Economy, Online Markets

KidHQ: Walmart and Mattel Renting Space in Virtual Store

Online toy shopping is getting increasingly creative, as digital reality tools rise in popularity among retailers and consumers. Walmart and Mattel are now leasing “floors” at the BuzzFeed-produced interactive video experience KidHQ, a virtual reality store that allows users to browse products via choose-your-own-adventure-style videos. Both companies are looking ahead to the holiday season as they try to sell toys ranging from Barbies to “Frozen 2” merchandise, and are using interactive video to connect with consumers to do so. 

Continue reading KidHQ: Walmart and Mattel Renting Space in Virtual Store

Amazon Curated Annual Holiday Toy Guide Comes at a Cost

Amazon released its annual Holiday Toy Guide featuring more than 1,700 “curated” items. In order to be considered for a spot in the well-regarded guide, Amazon charges toy companies millions of dollars, according to documents reviewed by Bloomberg. Amazon sells “Holiday Toy List” sponsorships for up to $2 million, and “the more sponsors pay, the more products they can nominate to be on the list and the more prominently their own products will be featured on the popular website.” Amazon’s summer toy list charged lower rates.

Continue reading Amazon Curated Annual Holiday Toy Guide Comes at a Cost

Facebook Falls, Amazon Rises, and Apple Holds Top Spot

In Interbrand’s latest Best Global Brands report, Facebook fell out of the top ten, dropping to 14th due to an estimated declined value of 12 percent. Amazon moved up to 3rd and The Walt Disney Company moved up to 10th. Apple remains in the top spot, with Google right behind. Previously, Facebook had grown in value each year of its existence up until 2017, when it came in 8th place on the list. But with incidents like the Cambridge Analytica scandal on its heels, the company’s value has dipped. 

Continue reading Facebook Falls, Amazon Rises, and Apple Holds Top Spot

Walmart Aims to Take On Amazon by Subsidizing Vendors

It seems as though the holiday online shopping competition is already revving up. Walmart will soon release a new program to compete with the Amazon marketplace, which boasts 40 percent control of the U.S. e-commerce market. On Walmart’s own marketplace site, vendors pay a fee to list goods. Soon, the prices of some of these goods will temporarily lower, but the vendors will still be paid in full with Walmart subsidizing the difference, according to a description of the plan obtained and reported by Bloomberg

Continue reading Walmart Aims to Take On Amazon by Subsidizing Vendors

Amazon Offers Same-Day Shipping For Low-Cost Products

Amazon is stepping up its e-commerce domination with same-day shipping, even for products that cost less than $5, according to analysts at Edgewater Research. Rather than having to combine your “add-on” item to a larger purchase in order to reach a $25 minimum order to qualify for Amazon Prime shipping deals, the company is providing members with free same-day shipping, even if the only item is a $2 roll of dental floss. Amazon’s willingness to lose money on such a model illustrates its desire to compete with stores like CVS, Target and Walmart, where consumers often go for convenient purchases. Continue reading Amazon Offers Same-Day Shipping For Low-Cost Products

Google Upgrades Shopping Portal, Extends Lens Capability

Google has streamlined its Shopping desktop and mobile portals in anticipation of the holiday season and unveiled a fashion recommendation engine for Google Lens, its AI-enabled computer vision search tool. According to Google Shopping vice president Surojit Chatterjee, the redesign is aimed at making it easier for users to “research and buy” what they are looking for. A personalized homepage offers product suggestions, and new sections allow re-ordering. Also more prominent are links to “nearby and online” stores. Continue reading Google Upgrades Shopping Portal, Extends Lens Capability

Amazon Eyes Low-Income Shoppers With PayCode Service

Amazon recently announced PayCode, a new pay-with-cash option for its online shoppers. The e-commerce giant’s service is the latest step in taking on low-price retail chains like Walmart. The move could help attract the 8+ million low-income households in the U.S. that do not presently have bank accounts, debit cards or credit cards. PayCode users can place an order on Amazon and then pay in cash within 24 hours at one of 15,000 Western Union locations. Amazon is also looking to expand its recently developed cashierless Go technology by bringing it to retailers such as movie theaters and airport shops. Continue reading Amazon Eyes Low-Income Shoppers With PayCode Service

Pinterest Becomes a Visual Discovery Engine for Shopping

Pinterest is now promoting itself as a “visual discovery engine,” where its 300 million global monthly active users can not only browse billions of images but also purchase the items they find there. For most of its users, Pinterest is a go-to place for home décor, gardening and personal style, allowing users to “pin” or post photos to create inspiration boards. According to Pinterest, its AI technology can accurately pinpoint 2.5+ billion objects in photos, millions of which can be purchased by clicking on the item. Continue reading Pinterest Becomes a Visual Discovery Engine for Shopping

Tension Over Algorithm Roils Amazon Retail, Search Teams

Amazon’s search algorithm can make or break a product. Sources are now saying that the tech behemoth adjusted its system late in 2018 so that products that bring it bigger profits get the most visibility. That could include Amazon’s own brands over products that might be more relevant and popular. The tweak in the algorithm took place against the backdrop of ongoing tensions between the executives running Amazon’s retail businesses, who wanted the switch, and those at A9, the company’s search team, who did not. Continue reading Tension Over Algorithm Roils Amazon Retail, Search Teams

FTC Begins Amazon Probe by Talking to Third-Party Vendors

The Federal Trade Commission has begun its investigation of Amazon by trying to determine if small businesses do in fact have alternative marketplaces. Several attorneys and “at least one economist” have been conducting 90-minute interviews with some of Amazon’s third-party vendors, to see if they do earn revenue from eBay, Walmart or other shopping sites. According to former FTC staffer Michael Kades, the length of the interviews and number of staff dedicated to the task indicates the agency is doing a “serious job.” Continue reading FTC Begins Amazon Probe by Talking to Third-Party Vendors

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