Driven by COVID-19 restrictions, ecommerce grew 49% between the early March shutdowns and the end of April, according to Adobe’s latest Digital Economy Index, with large gains in curbside and store pickup and e-grocery as the retail world continues to reset. Bazaarvoice also found ecommerce orders were up 96% in April year-over-year.
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.
Parcels are small, but have a big bottom-line impact for subscription box businesses. Whether you’re sending curated boxes, doing replenishment or ecommerce orders, shipping puts pressure on limited transportation budgets. If cost are getting proportionately higher, it’s time to reevaluate your parcel management approach.
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.
A decision by the leadership team at jewelry retailer Kendra Scott to invest in an order management system ahead of last year’s peak season was a critical element enabling the company to quickly turn its fleet of stores into fulfillment centers and initiate curbside pickup, after shutting them down to the public due to COVID-19.
In this MCM CommerceChat podcast, we talk to Matthew Cowan, general partner of Next47, a Siemens-backed venture firm that has invested in startups including last mile platform Bringg and on-demand transportation mapping service provider rideOS, about the critical need for real-time data sharing across supply chain partners.
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.
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.