The B SPOT

THEBSPOT gets you latest news on shopping website, discounts, news, season's trends etc.

18/12/2023

Shoppee may face pressure due to TikTok & Go To's Tokopedia partnership. TikTok & Goto announced their partnership as a mutually beneficial strategic partnership in Indonesia to serve MSME which makes up 90% of business merchants in the country
This partnership may place greater pressure on Shopee as it is also struggling to maintain profitability,” said Kai Wang, senior equity analyst at Morningstar

15/12/2023

Etsy is laying off 11% of it's workforce during holiday season as e-commerce giant is restructuring it's business & streaming cost against challenging competitive environment.
Etsy CEO Josh Silverman noted in a letter to employees that Etsy’s marketplace known for selling handmade items and connecting buyers with local artisans across the globe has more than doubled in size since 2019 but said today’s realities call for sweeping changes.

13/12/2023

SMS is an aging technology that still thrives as one of the most successful mobile marketing channels. It has the instant attention of more than 70% of consumers who sign up to receive texts from businesses. However timing of the sms plays a crucial role in engagement rates. Retailers & advertisers sending sms on inappropriate occasion or timings will likely to be ignored.
97% of all text messages are read within the first three minutes, so people read texts very differently than email and social channels. That reality is particularly true with major holiday shopping.

11/12/2023

In order to expand TikTok shop in the US market, it's planning to ban links of other e-commerce websites. This will force brands to use TikTok shop, tiktok users who see products in short videos can buy from TikTok shop.

08/12/2023

Temu, the fast-growing Chinese ecommerce platform selling $4 home decor and $10 shirts, is successfully taking over US dollar stores. As of last month, Temu reported 17% of the market share in the US market within discount categories.

07/12/2023

German small and medium-sized enterprises (SMEs) are extensively utilizing Amazon as a sales channel, both domestically and internationally. Amazon reports that the cross-border revenues of the involved businesses increased by 10 percent, reaching 4.75 billion euros.

05/12/2023

Shares of Ulta Beauty rose as it's sales rose, shoppers showed willingness to shop fragrances, skin care & more even when budget is tight.
CEO Dave Kimbell said the retailer saw healthy traffic at its stores and on its website. He said the company expects a more promotional holiday season in the beauty category this year, but the season is “off to a good start” and stores are stocked with “both value-first and splurge-worthy items.”

30/11/2023

CCPA said to e-commerce players should take a separate undertaking from them on compliance of mandatory norms. CCPA said that enabling the purchase of acid in such a manner on the e-commerce platform is a clear violation to directions of the Supreme Court & Ministry of Home Affairs advisory

28/11/2023

TikTok shop in the USA introduced in September as an in-app shopping experience. The shop gives opportunities to both content creators who could sell their own products and avid TikTok users who could buy directly on the app, following in the footsteps of other social media apps such as Instagram.
One TikTok Shop enthusiast is 29-year-old Chuck Vaughn, who called the TikTok Shop phenomenon “a gold rush.”
There’s some crazy coupons on there combined with sale prices, and then you end up getting things 50% off or 60% off.
Though some argue that using the platform strips shoppers of their privacy, Vaughn said it’s clear that consumers today are already giving up data in most of their apps. Instead, he’s leaned into the trend, with his most recent purchase being Pokemon cards. Whereas the market price for cards would normally be around $70, Vaughn said, he bought his on TikTok Shop for just $33 with free shipping — and they arrived in under a week.

27/11/2023

Black Friday eCommerce spending increased by 7.5% from last year, reaching a record $9.8 billion in the U.S., according to an Adobe Analytics report, a further indication that price-conscious consumers want to spend on the best deals and are hunting for those deals online.

23/11/2023

Alibaba founder Jack Ma held off on plans to trim his stake in the Chinese e-commerce giant after the share price fell. Jane Jiang, Alibaba's Chief People Officer told employees in an internal memo. Alibaba’s stock is currently trading below the company’s actual value, Jiang said, citing this as a reason Ma has not cut his stake.

21/11/2023

Caroline Wilmuth, Katherine Schomer and Erin Combs, who work in various roles within Amazon’s corporate research and strategy division, alleged the company assigns female staffers lower job titles for the same roles that are held by men with higher titles and larger salaries. The company then “regularly fails” to promote women.
The three women raised these concerns to their managers and Amazon’s Human Resources Department, which triggered an investigation, Wilmuth said that of the four researchers on her team, three female employees were classified in lower-paid job categories, while the only male researcher was classified in a higher-paid.The male researcher made “approximately 150% of Schomer’s salary.

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