In the first six months of the year, consumers spent $347.26 billion online with U.S. retailers, up 30.1% from $266.84 billion for the same period in 2019, according to the latest Digital Commerce 360 analysis of U.S. Department of Commerce data . Comparatively, ecommerce sales during the first half of 2019 grew just 12.7% year over year.
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The spike in ecommerce sales largely came from consumer spending habits in the second quarter , which was plagued by the height of the coronavirus pandemic that caused widespread store closures and stay-at-home orders. The first quarter of the year captured only 2.5 weeks of retail spending after President Donald Trump declared a state of national emergency on March 13, whereas Q2 captured a full 3-month period of shopping behavior during COVID-19.
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New Technology Helps Create a More Cashless Environment as Ecommerce Sales Grow
Among the various tech trends that were very beneficial to digital payment sector are the Internet of Things (IoT), cloud computing, tokenization, biometrics, and ubiquitous connectivity, all of which are expected to shape the way consumers transact in the future. Based on the mode of payment, the market is further segmented into bank cards, digital currencies, digital wallets, net banking, Point of Sales (POS), and others.
TD Holdings, Inc. (NASDAQ: GLG ) announced breaking news last week, "to enter into a strategic framework agreement with Tongdow E-commerce Group ("Tongdow E-commerce") through Shanghai Jianchi Supply Chain Co.,Ltd. ("Shanghai Jianchi"), the Company's wholly owned subsidiary.
Hand-in-Hand. Rise in Ecommerce Prompts High Demand for Logistics Space.
E-commerce is growing at a record pace, largely driven by consumers buying online for at-home delivery in light of the pandemic. How quickly? Consider this: before COVID-19 ecommerce was projected to account for 17 percent of all consumer purchases during 2020; now that is expected to be 20 percent for the year and could reach 30 percent by 2025.
The shift in the way Americans purchase and their accelerated expectations for how quickly items should appear on their doorstep has resulted in strong demand by companies looking for warehouse and distribution facilities that improve their storage and handling efficiencies and speed up delivery times.
Octaine AI Raises Funds, Launches Ecommerce Quiz Builder 08/25/2020
Octane AI, a Facebook Messenger and SMS marketing platform for Shopify, has raised $4.25 million in a funding round, bringing its total financing to $9 million.
The funding round was led by Bullpen Capital with participation from General Catalyst Partners, Boost VC, FJ Labs, Mana Ventures, Nelstone Ventures, True Search and other venture capital firms.
The Shoppable Quiz is customizable quiz builder that is integrated with Shopify, Klaviyo, ReCharge and other ecommerce technologies.
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Amazon partners with Toys R Us in new toy ecommerce deal - Business Insider
Amazon and Toys R Us are partnering to help revive the online toy business before the holiday season.
How ecommerce can capitalize from a coronavirus-led boom in online sales
E-commerce sales were boosted massively during stay-at-home orders in the wake of the coronavirus pandemic, but whether they can be sustained in a profitable way remains to be seen.
Global revenue from online sales in the second quarter of 2020 skyrocketed 71% year-over-year, according to data from Salesforce's Shopping Index.
"In the first two quarters of this pandemic, many retailers weren't as concerned about profitability: They were more concerned about product availability and getting it to the consumers' doorstep," Rob Garf, vice-president of industry strategy and insights at Salesforce , told CNBC by phone.
How eCommerce, Robots Will Change Warehouses | PYMNTS.com
Consumer behavior is changing — and the warehouse and supply chains that get goods into consumers' hands (or on their doorsteps) must change, too.
The company, based in Calgary, leverages a "3D storage" holistic view that deploys robots (wheeled shuttles, to be exact) to bring goods to workers as they pack and ship orders across a range of commerce sectors including food and retail. Earlier this month, Attabotics said it has raised $50 million in a Series C round led by the Ontario Teachers' Pension Plan Board.
Software Users Review eCommerce Platform Vendors for Satisfaction, Revealing Top Four Through
"As organizations look to broaden their e-commerce platform footprints in light of COVID-19, the need to have a strong supporting technology stack has never been more salient," says Ben Dickie , director of research and advisory at Info-Tech. "Modern e-commerce platform suites provide a host of robust functional capabilities, from cart management to retail analytics.
Each vendor is rated based on their experience provided by their software, including the Service and Product Experience, Strategy, Conflict Resolution, and Contracting and Negotiation process. The following vendors were rated as leaders according to the feedback provided by their end users via SoftwareReviews' comprehensive online survey:
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Our study found that "Free shipping'', "Free returns" and "Shipping available'' are dominating the CTA landscape wi… https://t.co/yVw0vAazGy semrush (from Boston, MA) Mon Aug 24 08:26:01 +0000 2020
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