Thrasio, the most successful practitioner of the Amazon rollup model by creating economies of scale and supercharging growth, has raised $500 million, pushing it over the $1B mark in less than two years. It plans to pursue bigger targets, expand product development and go into other channels and international markets.
Amazon has had a problem with “brushing” on its 3P marketplace, where unscrupulous sellers boost star rankings by loading up listings with irrelevant, bogus reviews. What is Amazon doing to counteract this practice? How widespread of a problem? Chris McCabe, a former investigation specialist at Amazon, helps us understand.
Driven by a pandemic-fueled lack of travel and more disposable income, the China luxury goods market grew 48% in 2020, doubling the country’s overall share, according to Bain & Company. The upward trend is expected to give China a leading share of 45% of the global luxury market by 2025, outpacing Europe and North America.
Boding well for the holiday spend here, the U.S. was the top seller of goods during Alibaba’s Singles Day 2020, which raked in $116 billion combined on Alibaba and JD.com. Alibaba itself reported $75.28 billion yuan in GMV, while JD.com said its Singles Day GMV was $40.72 billion. Sales from U.S. retailers topped $5 billion.
Another Prime Day is in the books, with Amazon reporting that third-party sellers rang up $3.5 billion in sales over the two days, up 60% from $2.2 billion in 2019, and once again Amazon devices were big winners. eMarketer pegged the worldwide total for Prime Day at a shade under $10 billion, up a hefty 43% from $6.93 billion in 2019.
With Prime Day hitting Oct. 13-14, the unofficial kickoff of a very different holiday season, sellers are geared up to take advantage of the massive shopping event, but the proximity to other mega events from Thanksgiving on may lead shoppers and sellers to choose one or the other vs. both. Still Prime Day 2020 is expected to break records.
eBay has struck a deal with UPS to provide its sellers with discounted shipping, after telling them last month it was aware of service delays with primary carrier the U.S. Postal Service and complaints from sellers. The major marketplace said the discounts would be available to all of its sellers by the end of September.
Amazon is warning ecommerce shippers using Fulfillment By Amazon (FBA) that late shipments to an FBA facility on the part of their carrier could result in suspension of their FBA shipping privileges, even if the shippers themselves aren’t responsible for the delays. The new policy went into effect on Aug. 25, 2020.