The European Union is making sweeping updates to how retailers need to calculate Value-Added Tax (VAT) when selling goods into its member countries, effective July 1, 2021. Peter Boerhof, EU VAT director for Vertex, explains the various changes and their significance, and the impact for companies selling goods into Europe.
Amazon is taking a serious run at counterfeit sellers on its marketplace, with the creation of a Counterfeit Crimes Unit that includes former federal prosecutors, investigators and data analysts. The company said it has limited counterfeit complaints to 0.1% of items listed, but legislators and media investigations have still taken it to task.
As consumer spending dwindles, retail chains struggle and bankruptcy filings mount up. Yet retail and food sales rose a record 17.7% in May, and discount chains are flourishing. How do we account for this? Brett Rose, founder and CEO of United National Consumer Suppliers, shares his thoughts in this MCM CommerceChat podcast.
Brands are challenged with finding a way forward even when traditional DTC models threaten to crack—and thinking outside the box to find the post-coronavirus formula for success. Fortunately, DTC doesn’t just mean selling on your own site. Here are some of the strong benefits of adding marketplaces to your DTC channel mix.
COVID-19 has quickly reshaped web traffic and app usage patterns; for example, skyrocketing traffic to food delivery services. The rapid consumer behavior shift has morphed attack patterns, expanded the threat environment and added pressure against many site operators unaccustomed to so much fraudster attention.
As COVID-19 continues to impact the market, we’ve seen a massive shift toward ecommerce. The rise in contactless payment as a result of the coronavirus has been a key trend. Consumers are adopting options like mobile ordering and in-store pickup at an astonishing rate. Learn about best practices to address fraud risks.
Retail and food sales jumped a record 17.7% in May compared to April, according to figures from the U.S. Census Bureau, a hopeful sign of a recovery from the ongoing effects of the pandemic, after tanking an adjusted 16.4% in the March-to-April period. Ecommerce posted strong gains, increasing 30% in May from the previous month.
While third-party solutions provide much-needed features, integrating them as a core part of your ecommerce stack is not without risk. So, whether you’re incorporating new solutions or reevaluating existing ones, ecommerce sellers should take the time to choose the right ones, saving time, money and peace of mind in the long run.
Luxury retail bellwether Nordstrom saw ecommerce growth of 5% to more than $1 billion in the first quarter of 2020, while overall sales dropped nearly 40% as COVID-19 locked down its retail side, the company reported. Nordstrom is also evolving its model to focus more on off price locations and ecommerce than mall stores.