E-commerce is bigger than ever and it's only getting bigger. Today, it's not uncommon to shop on Instagram or buy products from companies you've never heard of directly off your phone. These trends aren't just good news for retail companies, they've also created an exploding market for individuals looking to make money through e-commerce, either as a side gig or full-time job.
Many entrepreneurs use a product fulfillment method called "dropshipping" where they don't have to invest in inventory in order to sell items online. Dropshipping successfully can lead to six-figure sales — in fact, Business Insider has spoken with sellers who have sold more than $1 million of a single product.
Other things to check out:
Adobe beefs up its Magento ecommerce platform with AI and reveals early online holiday sales
Adobe Systems Inc. is using its Sensei artificial intelligence technology to improve recommendations and search functionality for merchants using its Magento ecommerce platform.
The first new feature, called visual similarity recommendations for product recommendations, enables merchants to offer shoppers recommendations of products that look similar to what they are viewing by taking into account color, shape, size, material and more.
Bigblue raises $3.6M to automate e-commerce fulfillment | The Burn-In
For companies that have to deal with a rising number of online orders, ordinary fulfillment systems can quickly get out of hand. That's why many are turning towards automation as a turnkey solution.
A French startup called Bigblue is hoping to become a major player in that space. It just raised $3.6 million in seed funding to pursue its goals. Bigblue will hire a team of 50 new employees and develop more integrations for various e-commerce platforms with the money.
Juni Talks Industry-Targeted Neo Banking | PYMNTS.com
It's been more than a decade since the boom of neo and challenger banks stepping into the market to fill the biggest service gaps left by FI giants. Generally considered more nimble and digital-friendly than legacy banks, challengers have injected a much-needed dose of technological innovation into the sector, with business banking an increasingly popular focus for new players.
One means of doing so in the business banking space is to target particular industries, a strategy El-Sabini told PYMNTS can be effective at tackling the biggest and most unique pain points of certain sectors that aren't necessarily addressed by industry-agnostic financial service providers. In a recent interview, he discussed why Juni is targeting eCommerce and digital marketing businesses with its offering.
Many things are taking place:
Subscribe to read | Financial Times
Analysis: The e-commerce boom doesn't have to be a climate disaster
Since it first showed up more than two decades ago, e-commerce has slowly eaten its way into the global retail landscape a few fractions of a percentage point at a time. Hundreds of millions of consumers now buy billions of items online, which are delivered to them quickly via a sophisticated network of storage and distribution facilities. First came the shelf-stable items such as books and electronics, then food and fashion.
COVID-19 has taken this trend and lit a fire under it, sending U.S. e-commerce from 11.3% of all U.S. retail at the end of 2019 up to 16.1% at the end of the second quarter of this year. It took more than seven years for e-commerce to expand from 5% to 10% of total retail sales; COVID-19 produced that same growth in six months. This year, 95% of shoppers say they plan to shop online between Thanksgiving Day and Cyber Monday.
How to Build an Online Business - businessnewsdaily.com
Online shopping is skyrocketing in 2020 , as shelter-in-place orders changed consumers' shopping behaviors. Thanks to e-commerce platforms and marketplaces, it is easy to sell online; however, before you take the e-commerce plunge, you must first understand the tools available to you so you succeed.
E-commerce is the purchase and sales of products or services over the internet. The first e-commerce transaction was in 1994, when a consumer sold a Sting CD on NetMarket, a retail e-commerce platform. It wasn't until Amazon and eBay were established in 1995 that e-commerce took off. Today it's a multi-trillion-dollar industry that is poised to grow even bigger. At the end of 2019, worldwide e-commerce sales were $3.53 trillion. That's projected to increase to $6.54 trillion in 2022.
3 Factors Leading Walmart's E-Commerce Business Toward Profitability | The Motley
Third-party sales were by far the biggest factor impacting Walmart's online operating profits in the third quarter. Management said sales from its third-party marketplace increased by a three-digit percentage, considerably faster than its overall sales.
Walmart is also working to copy one of Amazon's most successful third-party services by fulfilling orders for its marketplace merchants. The company introduced Walmart Fulfillment Services in February, and management sees it as an integral part of the e-commerce strategy going forward. A robust fulfillment service similar to Amazon's could attract more merchants to its marketplace, further growing third-party sales.
Happening on Twitter
E-COMMERCE ENTREPRENEURSHIP: Your guide to making six figures selling products online using a no-inventory method c… https://t.co/vCuztWEriH businessinsider (from New York, NY) Sat Nov 28 13:04:45 +0000 2020
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