The COVID-19 crisis and the digital shift that it accelerated are making five lessons clear that tradition brick-and-mortar retailers must heed if they want to survive, according to Karen Webster. One key takeaway — traditional merchants' biggest rivals these days aren't other traditional merchants, but are online marketplaces like Amazon and Wayfair.
Failure to adapt to that reality won't cut. For example, Webster noted in a recent analysis that Mastercard's Spending Pulse data for holiday 2020 found that while department stores' overall sales fell 10.2 percent during the season, their eCommerce sales only rose 3.3 percent.
Not to change the topic here:
Inside the economy President Biden inherits - Marketplace
In fact, some areas of the economy are doing quite well, according to Constance Hunter, the chief economist at KPMG.
“If we look at just high-propensity business formations, we’ve had about 200,000 during 2020,” Hunter said. “The shock of the pandemic really has caused a different need for different goods and services than existed prior to the pandemic.”
Which, she said, will be integral to how the Biden administration will need to approach further economic support.
The failed Plaid-Visa merger is interesting fintech tea - Marketplace
Lisa Ellis: They were sort of making an example, frankly, of Visa because obviously this is a theme that recently the DOJ has been focusing more on. This idea of big tech firms buying small, nascent, potential competitors to kind of take them out of the market early on — that was the angle that the DOJ came [with]. And they had leaked documents, internal strategy documents of Visa’s, that explicitly indicated this as a risk. And so that was sort of the rationale.
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Ellis: It’s definitely an angle that the DOJ is much more focused on. It’s a component of antitrust that’s historically not been in sort of the usual measures that you would use to determine if something meets the bar of being an antitrust violation.
Nauto Joins Geotab Marketplace to Deliver Real-Time Insights for Fleet Management
A seamless, single user-interface that delivers real-time AI insights from the Nauto Risk Reduction and Fleet Safety Platform and Geotab world-leading telematics products
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With Geotab's award-winning telematics device and Nauto's insights derived from nearly one billion AI-analyzed miles of driving data, fleet managers will be able to gain greater visibility and insights into their vehicles and drivers. These insights can be conveniently accessed through a single user-interface, eliminating the need to switch between several different platforms.
Many things are taking place:
Reputation.com Now Available in Google Cloud Marketplace
The Global Leader in Reputation Experience Management Launches on the Google Cloud Marketplace to Turn Customer Interactions into Business Actions
REDWOOD CITY, Calif., Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reputation.com , the global leader in reputation experience management, today announced its platform services are now available in Google Cloud Marketplace. Customers worldwide can now access the Reputation.com platform as part of their tech stack, allowing businesses to transform feedback into a competitive advantage to enhance their customer experience.
OfferMarket Adds Auctions to Commission-Free Real Estate Marketplace | National |
BALTIMORE, Md., Jan. 21, 2021 (SEND2PRESS NEWSWIRE) — Today, OfferMarket, a technology-enabled real estate marketplace announced the launch of OfferMarket Auctions. The company's real estate auction framework promotes buyer competition, reduces transaction costs and delivers faster closing times.
Traditional real estate transactions can be expensive, slow and frustrating for sellers. Sellers typically pay 5-6% commission to agents, spend an additional 1-5% on repairs and staging, and another 0-5% on inspection-related concessions. OfferMarket uses ecommerce marketplace principles and a streamlined, managed transaction flow (forms, titlework) to save money and time for buyers and sellers. Transactions on OfferMarket are as-is, and sellers avoid costly commissions and repairs.
Google, French news publishers reach deal on paying for content - Marketplace
The Curious Case of The Social Media Marketplace: Why The Free Market Cannot Regulate Big Tech |
While Facebook CEO Mark Zuckerberg and Twitter CEO Jack Dorsey may have once been the up-and-coming-internet-nerd-underdogs that the world was rooting for, they now find themselves at the top of the food chain in most of the developed world.
As is the case with any well-oiled democracy, those in power must always have counteracting forces that keep their goals aligned with the people. In the case of powerful corporations, oftentimes (though notably not all of the time), it is the forces of the free market that work to keep businesses in service of consumers.
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