Chinos Holdings, parent of preppy clothing retailer J. Crew and women’s apparel and accessories seller Madewell, filed Chapter 11 as part of a restructuring plan that calls for converting $1.65 billion of its debt to equity and securing $400 million in loans. This is the first major retailer to file for bankruptcy during the coronavirus crisis.
While everyone might be caught between a rock and a hard place, the COVID-19 outbreak has proven there is definitely a wrong way to act during times of crisis. Here are several instances in which ecommerce sellers paid a hefty price for the decisions they made. Avoid resorting to these methods when your business is in crisis mode.
Some companies are seeing booming ecommerce sales due to COVID-19, while others are experiencing a big hit. Whether you’re a new or existing online business, both scenarios have ecommerce tax compliance implications you need to be aware of. Here are some useful tips to help you stay on top of this important issue.
NBCUniversal’s new instant checkout service for its shoppable content lets consumers click and buy products they see across the media company’s broadcast and online properties, giving brands an opportunity to sell during a time when stores are shut down. Shoppers can make purchases without abandoning their program.
A handful of grocery retailers have flipped some locations into so-called dark stores to handle the crush of online orders, but it remains to be seen how widespread the practice will become or how much the trend will stick after the coronavirus threat dies down. Retailers include Amazon/Whole Foods, Kroger, Giant Eagle and Stop & Shop.
In the midst of COVID-19 social isolation, people are craving connection. In the midst of uncertainty, videos of musicians sharing their gifts, both virtually and socially distanced, have gone viral, providing inspiration and hope. Sweetwater CEO Chuck Surack talks about his company’s experience and how they’re connecting with customers.
Profitero, an ecommerce analytics firm that includes Adidas, L’Oreal and General Mills among its 4,000 clients, has raised $50 million in new funding and brought in ad industry veterans to lead the company as it looks to develop new products and grow its business. Bryan Wiener has been named CEO and Sarah Hofstetter is president.
Amazon is continuing to dominate in apparel sales online, according to a new report from CoreSight, which reports 70% of apparel shoppers bought clothing or footwear on Amazon in the past 12 months, up from 60% a year ago. This compares to 51.2% who said they did so on Walmart, 44.6% at Target and 35.3% at Kohl’s.
With ecommerce booming, especially with stores closed amid the coronavirus pandemic, it’s important that your ecommerce website stands out. Customers are more likely to buy from a well-designed, navigable, up-to-date site. Here are some tips to ensure it generates sales and encourages return customers.
Many more consumers are changing their buying habits in response to the COVID-19 outbreak, with 28% of e-grocery shoppers placing their first-ever order during March, according to a study from CPG research firm Acosta. And nearly two-thirds of U.S. consumers reported changing their shopping habits by the end of March.