Ecommerce has been a bright spot among retail channels during the coronavirus, as consumers became reliant on digital transactions amid physical store closures and fear of infection. However, the impact on ecommerce retail spending has not been felt evenly across the world.
Asia-Pacific and North America have led the regional totals for both brick-and-mortar and ecommerce sales, followed by Western Europe. Due in part to China's dominance, Asia-Pacific has gained a significant lead in ecommerce with 62.6% share, over North America and Western Europe, who are expected to have shares of 19.1% and 12.7%, respectively.
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Goldman Forecasts eCommerce Sales Acceleration | PYMNTS.com
Goldman Sachs has predicted that online shopping will expand by 19 percent each year during the next three years to come, which marks a rise from its past forecast of 16 percent. The firm said the acceleration was mainly fueled by quicker growth in the United States, Brazil, Western Europe and a good share of APAC, according to the Monday (July 20) report.
"At an enterprise level, we've seen an acceleration in innovation over the course of the crisis as companies have rolled out curbside pick up programs, contactless checkout, personalized consignment deliveries, and retailers and marketplaces have adapted to reflect the shifting needs of consumers focused on the new essentials," the firm said in the report.
Japan e-Commerce Market Outlook 2020-2026 - Amazon Japan, Yahoo Japan, and Rakuten Earn More Than
The "Japan eCommerce Market, MobileCommerce, Retail, Electronics & Media, Toys, Hobby & DIY, Furniture & Appliances, Food & Personal Care, Digital Services, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
According to the report, Japan's e-Commerce Market is expected to reach USD 325.9 billion by the end of the year 2026. This report captures a detailed analysis of Japan eCommerce Market and provides an all-encompassing analysis of the key growth drivers and challenges.
Evolving Tech Stack Enables High Performance Ecommerce | Practical Ecommerce
The technologies powering the web and mobile applications never stop evolving. Each new phase creates opportunities for businesses. The latest iteration is the expansion of so-called edge network capabilities, which help online merchants improve performance and user experience.
Both performance and user experience are fundamental to Google’s new “ Core Web Vitals ” initiative, which provides “unified guidance for quality signals that… are essential to delivering a great user experience on the web,” wrote Ilya Grigorik, a Google web performance engineer.
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E-commerce sites must state 'country of origin,' says Centre - The Hindu
The Centre told the Delhi High Court on Wednesday that all e-commerce entities, including Amazon, Flipkart, and Snapdeal, have to ensure the mandatory declaration of country of origin of imported products sold on their site.
The Department of Consumer Affairs, in an affidavit, said the laws relating to the issue was enacted under the Legal Metrology Act, 2009 and the Legal Metrology (Packaged Commodities) Rules, 2011. Enforcement of the provisions of the Act and Rules rested with the States and UTs governments. "Whenever violations are observed, action is taken by the legal metrology officials of the States/ UTs governments in accordance with the law," the department said.
ACI Worldwide and Three UK Partner to Combat eCommerce Payments Fraud | Business Wire
ACI's ReD Shield offers Three UK a multi-layered fraud strategy that uses a combination of consortium intelligence, profiling, machine learning and rules—a powerful approach that enables merchants to separate legitimate customers from fraudsters.
"The current crisis is likely to lead to a long-term behavioral change with millions of consumers opting for the convenience of shopping online instead of at brick-and-mortar shops," said Andrew Quartermaine, vice president, ACI Worldwide. "However, this change also presents new opportunities for fraudsters, and merchants could be hit by a tidal wave of new fraud cases if they do not act.
Google launches Recommendations AI ecommerce tool in public beta | VentureBeat
During its Cloud Next 2019 conference, Google unveiled Recommendations AI, a fully managed service designed to help retail-oriented businesses deliver personalized product recommendations to their customers. Beginning today, following a lengthy preview period with early adopters that include Sephora, Boozt, and Digitec Galaxus, Recommendations AI is available in beta to eligible Google Cloud customers.
According to product manager Pallav Mehta, Recommendations AI excels at handling recommendations in scenarios with long-tail products and cold-start users and items. Thanks to "context hungry" deep learning models developed in partnership with Google Brain and Google Research, it's able to draw insights across tens of millions of items and constantly iterate on those insights in a real-time way.
Reading List: Charlie Casey of LoyaltyLion | Practical Ecommerce
“Reading List” is an occasional series where we ask ecommerce professionals to name some of their favorite books and blogs and tell us why.
For this installment, we corresponded with Charlie Casey. He is CEO and co-founder of LoyaltyLion , a data-driven loyalty and engagement platform.
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“I love biographies and reading about other people’s struggles and hearing what motivated them to overcome what appeared to be insurmountable challenges. I usually avoid business biographies as it always feels that the authors have a vested interest in presenting a positive image of their business. ‘Shoe Dog’ is different. Phil Knight wrote it after stepping down from Nike. He focuses mainly on the early years — before Nike was Nike.
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