Target Corp.'s third-quarter ecommerce sales show that pandemic-driven shopping is still surging heading into the holidays, and omnichannel services are fueling the online growth even more.
Online sales reached $3.51 billion during the quarter ended Oct. 31, up 153.9% from $1.38 billion in Q3 2019. Web sales accounted for 15.7% during the quarter, up from 7.5% a year ago. Target's ecommerce business grew even faster during the first nine months of the year: Online sales jumped 163.0% to $10.37 billion, up from $3.94 billion during the same period of 2019.
Many things are taking place:
TJX Cos To Add eCommerce To HomeGoods.com | PYMNTS.com
TJX CEO and President Ernie Herrman said in announcing the results that "to both leverage our strength in the home category and capitalize on our market share growth opportunities, we are pleased to share that we plan to rollout e-commerce on HomeGoods.com later next year."
He didn't offer additional details, but the HomeGoods.com site currently only allows consumers to buy gift cards, not actual merchandise. Management also said that while the "vast majority" of its 470 stores closed due to COVID-19 shutdown orders are in Europe, "the company's tkmaxx.com eCommerce business in the U.K. remains open."
Heyday Raises $175 Million To Buy Amazon Businesses—The Latest E-Commerce Gold Mine
A San Francisco-based company called Heyday has raised $175 million from General Catalyst, Khosla Ventures and other investors to buy, launch and grow Amazon businesses.
Heyday, which was founded in August, came out of stealth on Monday to announce that it has raised a massive Series A funding round. Arbor Ventures and executives from Amazon, eBay, PayPal and Magento also participated in the round.
"You're going to see brands like Warby Parker now born on Amazon," says Heyday founder Sebastian Rymarz, who previously worked at Goldman Sachs and TPG.
Optimizing The Online Checkout Experience: The Next E-Commerce Frontier
Retailers are taking note and are looking for ways to improve the online shopping experience—specifically focusing on ways to speed up and optimize the checkout process.
As a result, e-commerce platforms are teaming up with online retailers to power e-commerce solutions that are both flexible enough to work with a brand's needs and their existing technology—which is no minor undertaking.
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As part of this effort, the company is focusing on building out the brand's e-commerce abilities and experience to align with modern online shopping preferences.
Quite a lot has been going on:
Opinion: What our e-commerce cheating says about coronavirus fatigue
As we move into what was once the traditional start of the holiday shopping season, it's worth taking a moment to consider how COVID-19 has changed the world.
Shopping seems a strange lens through which to view our pandemic-weary state. But I spend a lot of my day thinking about shopping and who shops and how they shop and why they shop. I also think about who cheats when they shop, particularly online.
It turns out, that's a lot of people. And I blame COVID. In fact, I fear the pandemic is breaking us. Just hear me out.
Five Ways AI Is Changing Everything We Know About eCommerce | CustomerThink
This shows how AI can be beneficial for a variety of industries and use cases, and it might just be the technology that could help people and businesses thrive during the pandemic. With almost all trends being controlled by the pandemic, it’s’ vital to find something that will even up the odds. For businesses, finding a suitable consumer insights platform is more valuable than ever before—and AI can provide a competitive edge when it comes to this area.
Walmart Q3 Earnings Report 79% Increase in eCommerce Sales
Today Walmart has released their earnings report for Q3 which has topped Wall Street expectations. The pandemic has seen Walmart record a staggering 79% increase in there eCommerce sales.
With many states across the US still battling with the effects and impact of Coronavirus, many shoppers are swapping browsing the aisles, for browsing the website and having groceries delivered to their door.
"We're convinced that most of the behavior change will persist beyond the pandemic and that our combination of strong stores and emerging digital capabilities will be a winning formula,"
3 Strategies To Grow Your Ecommerce Fashion Brand in 2021
Let’s face it. The vast majority of fashion brands look to achieve mass-market appeal by offering a large product range that targets a wide range of customers. However, though this is certainly possible for large brands with well-established design, manufacturing and distribution pipelines, it is easier said than done for smaller brands.
When founding the young fashion brand Ossesso , the two Swiss entrepreneurs Rolf Hess and Thomas Stieger, who for the past 30 years have operated successful resources, consumer and luxury goods companies under the management of Hess Group International, decided to take a different path than most young apparel brands. “This space is extremely competitive and to enter it, you must radically differentiate from the rest,” Stieger says.
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