Follow in the footsteps of other digitally native brands that have gone click to brick like Bonobos, Warby Parker, Framebridge and Tuft & Needle, Wayfair this week opened its first physical store in the Natick Mall in Natick, MA, outside its Boston headquarters. This trend shows that brands starting online acknowledge the power of the store.
Marketplace facilitators like Amazon, Etsy, Rakuten, Walmart.com and eBay, are now required in 10 states to collect and remit sales tax resulting from third-party transactions, and several additional states will follow suit. Preparation is the name of the game to be compliant with ever-changing tax legislation.
One year ago, the U.S. Supreme Court’s landmark decision in South Dakota vs. Wayfair forever changed the ecommerce taxation landscape in the U.S. In the latest MCM CommerceChat podcast, we talk with Mike Bernard, chief tax officer at Vertex, about the ripple effects from the ruling impacting the entire ecommerce ecosystem.
Americans are used to hearing the refrain “we pay the sales tax” in today’s advertising campaigns, but in the wake of the United States Supreme Court’s ruling in South Dakota v. Wayfair (June 2018), the phrase “you pay the sales tax,” may be what many small business sellers will hear instead in future audits of their business operations. Here is what ecommerce businesses need to know moving forward.
Ecommerce home furnishings giant Wayfair increased its fourth quarter sales 40.6% to $1.99 billion, but saw its Q4 net loss balloon to $143.8 million, nearly doubling the $72.8 million loss from the same period in 2017. The company accentuated the positive, emphasizing its holiday season and flash sale performance to analysts.
Black Friday and Cyber Monday are bonanzas for online sellers. But there could be a downside this year thanks to the Supreme Court’s South Dakota vs. Wayfair decision, which says states can charge online retailers’ sales tax, regardless of the company’s physical location. Here are 4 things to keep on top of heading into the holidays.
To find an optimal balance between online and in-store shopping, forward-thinking retailers are reevaluating the concept of brick-and-mortar and reinventing the customer experience. This has led to a broader view of how to get the most value from physical spaces. Learn about the latest ways physical and digital are converging.
As of Oct. 1, 10 states added a requirement for remote sellers to begin collecting tax online sales tax in the wake of the Supreme Court’s landmark Wayfair ruling in June, and many merchants are finding it difficult to comply. See what an advocacy group is doing, when states are enacting laws and what litigation is pending.