Amazon Offers ‘One Palm’ Biometric Reader to Third Parties

After being road-tested in Amazon’s retail outlets, the Amazon One biometric palm reader is being made available as an identification and payment option to third-party businesses. Ticketing company AXS this week introduced Amazon One as an option for contactless entry at Colorado’s Red Rocks Amphitheatre. Red Rocks guests can link their AXS Mobile ID with Amazon One at dedicated stations then enter the venue by hovering their hand, touch-free, over a scanner. Once the accounts are linked, Red Rocks ticketholders can quickly enter using a separate line exclusively for Amazon One users.  Continue reading Amazon Offers ‘One Palm’ Biometric Reader to Third Parties

Amazon’s POS System Will Take on Shopify, Square, PayPal

Amazon is developing a new point-of-sale system designed to lure small businesses that use Shopify, Square and PayPal for checkout needs. The new POS system manages in-store and online transactions, adds Amazon checkout options, provides inventory counts and offers business analytics. The system also integrates with existing Amazon services, including the Prime membership program, the One palm-based identification technology, and the Flex delivery network. Amazon also reportedly tasked its “Project Santos” team with a POS system that could be sold to third-party sellers. Continue reading Amazon’s POS System Will Take on Shopify, Square, PayPal

Amazon Readies Launch of Fire TV Sets with Alexa Assistant

E-commerce giant Amazon is readying the October launch of its own Fire TV sets featuring its Alexa voice assistant. The Amazon Fire TV Omni Series 4K, which starts at $409.99, and the Amazon Fire TV 4-Series 4K, which starts at $369.99, will be available on Amazon’s website and at Best Buy stores. Toshiba and Insignia, Best Buy’s house brand, have sold TVs powered by Amazon’s Fire TV operating system, the latter since 2018. Amazon adds TVs to its other branded products including clothing, groceries and even batteries. Continue reading Amazon Readies Launch of Fire TV Sets with Alexa Assistant

Amazon to Open Cashierless Whole Foods Stores Next Year

Amazon plans to open two “Just Walk Out” Whole Foods stores in 2022, in Washington D.C. and Sherman Oaks, California, leveraging the same technology used in its Amazon Go and Amazon Fresh stores. The company also offers the technology for sale to other retailers. This marks the first time that Amazon is using its cashierless technology at the 500-store Whole Foods, which it bought in 2017. Shoppers enter and leave the store by scanning a QR code in Amazon or Whole Foods apps and motion sensors track their shopping choices. Continue reading Amazon to Open Cashierless Whole Foods Stores Next Year

Amazon to Expand Physical Footprint with New Retail Stores

Amazon revealed its plans to open brick-and-mortar retail stores in the United States, with the first locations slated for California and Ohio. Amazon stores will be about 30,000 square feet smaller than most department stores, similar to smaller versions opened by Bloomingdale’s and Nordstrom. The stores will give Amazon another outlet to sell its electronics and private-label goods, but what other brands it might offer aren’t final. Amazon’s dominance in e-commerce contributed to the failure of malls and other physical stores. Continue reading Amazon to Expand Physical Footprint with New Retail Stores

Amazon Bests Walmart as Top Retail Seller Outside of China

Retail giant Walmart, which perfected the business model of driving down costs to dominate the market, has been surpassed by e-commerce leader Amazon, which just became the largest retail seller outside of China. Driven by a surge in online shopping during the global COVID-19 pandemic, Amazon raked in $610+ billion over the year ending in June, according to FactSet. Walmart just posted sales of $566 billion for the year ending in July. Both are eclipsed by Chinese online retailer Alibaba, the world’s top seller. Continue reading Amazon Bests Walmart as Top Retail Seller Outside of China

Square Will Purchase Afterpay Credit Company for $29 Billion

Square announced it will acquire Australia-based financial tech company Afterpay in an all-stock deal worth about $29 billion, with Square chief executive Jack Dorsey stating that the two companies “have a shared purpose.” Afterpay appeals to a younger demographic that mistrusts traditional credit companies; its technology lets a consumer pay for goods in four interest-free installments and receive the goods immediately. Customers only pay a fee if they miss an automated payment, which also locks their account until the balance is repaid. Continue reading Square Will Purchase Afterpay Credit Company for $29 Billion

Twitter Revisits E-Commerce with New Shop Module Feature

Twitter recently launched its Shop Module pilot, a new feature that will let businesses add a shopping section to their profiles. The feature, introduced initially in the U.S., allows a dozen retailers — including GameStop Corp. and Arden Cove — to market up to five products at the top of their Twitter profiles. Users can swipe between products and purchase them in an in-app browser without having to leave Twitter. With Shop Module, Twitter has revived its e-commerce activity after abandoning the “Buy Now” button debuted in 2015. Continue reading Twitter Revisits E-Commerce with New Shop Module Feature

Google Reports Its Highest Quarter Ever for Sales and Profits

In Q2 2021, Google recorded its highest quarter ever for sales and profits: revenue of $61.88 billion, up 62 percent year-over-year; profit that more than doubled to $18.53 billion; advertising sales of $50.44 billion, a 69 percent surge, and YouTube ad business reaching $7 billion, up 84 percent from a year earlier. The numbers, which exceeded Wall Street expectations, were driven by e-commerce, streaming video and other online business and entertainment activities that surged during the COVID-19 pandemic, driving online advertising. Continue reading Google Reports Its Highest Quarter Ever for Sales and Profits

Warrant Deals Can Result in Amazon Buying Stock in Vendors

According to corporate filings and information from sources, Amazon has inked “at least a dozen deals” in which publicly traded companies win Amazon as a client for their goods in exchange for so-called warrants, which allows the Big Tech company to buy stock at potentially below-market prices. Over the last 10 years, Amazon has struck 75+ such deals with privately held companies, said one source. Amazon’s stakes in these deals equal “billions of dollars,” in businesses that range from call centers to natural gas providers. Continue reading Warrant Deals Can Result in Amazon Buying Stock in Vendors

Apple Unveils Downtown Los Angeles Store in Historic Cinema

Apple just opened a new Apple Store in a 94-year-old former landmark movie theater in downtown Los Angeles. The company completed a lavish restoration of the 1927 Tower Theatre, located below 8th and Broadway. Hundreds of Apple fans awaited the opening and many of them met chief executive Tim Cook at the door. Other celebrities at the opening included filmmaker and actor Mark Duplass, singer and producer Finneas, and actor and comedian Paul Scheer. The previous day, historic preservationists were invited to tour the building. Continue reading Apple Unveils Downtown Los Angeles Store in Historic Cinema

Amazon Founder Jeff Bezos Will Step Down as CEO on July 5

Amazon founder Jeff Bezos will officially leave his position as chief executive on July 5, and Amazon Web Services chief executive Andy Jassy will take over the Amazon CEO position. The departure of Bezos was originally announced in a February earnings report but a specific date was not revealed. Bezos said July 5 is “sentimental” because it was the date Amazon was incorporated in 1994. Bezos will become executive chair, focusing his attention on “new products and early initiatives.” He said he expects Jassy to be “an outstanding leader.” Continue reading Amazon Founder Jeff Bezos Will Step Down as CEO on July 5

Amazon’s Profits, Income, Stock Price Skyrocket During 2020

For Q1 2021, Amazon reported record profits of $26 billion, more than the previous three quarters combined, with net income more than tripling to $8.1 billion and revenue of $108 billion, surpassing FactSet’s analyst predictions. In addition to Amazon’s successful quarter, Apple, Facebook, Google and Microsoft all enjoyed major upticks in profits and revenues, the result of the increased need for their products and services during the COVID-19 pandemic. Amazon expects that its Q2 sales will reach between $110 billion and $116 billion. Continue reading Amazon’s Profits, Income, Stock Price Skyrocket During 2020

Amazon: Jeff Bezos Touts New Vision for Employee Success

In the wake of Amazon warehouse workers in Alabama voting against unionization, company founder and chief executive Jeff Bezos stated that, “it’s clear to me that we need a better vision for how we create value for employees — a vision for their success.” Seventy percent of workers at the Alabama warehouse voted against the union. Bezos, who will step down as chief executive — but remain as chair — in Q3 this year, touted the fact that Amazon helped 200+ million Amazon Prime members save $630 each during the year. Continue reading Amazon: Jeff Bezos Touts New Vision for Employee Success

China Signals Tighter Big Tech Regulation with Alibaba Fine

The Chinese State Administration for Market Regulation (SAMR) fined e-commerce giant Alibaba $2.8 billion for antitrust violations, a rebuke to its founder, high-profile tycoon Jack Ma. Investigation into whether Alibaba prevented sellers from offering their goods on other e-commerce platforms began in December. The official Communist Party newspaper called monopolies “the great enemy of the market economy” and said regulation was “a kind of love and care.” In 2015, China fined Qualcomm $975 million, also for antitrust violations. Continue reading China Signals Tighter Big Tech Regulation with Alibaba Fine

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