Ecommerce & Marketplaces Newsletter – March 15, 2024
In this edition, Peter Evans, CSO of McFadyen Digital explores how circular marketplaces have the potential to become “green unicorns”. Other articles covered include: DigitalCommerce360’s article with Sam’s Club Vice President of eCommerce, Sabrina Callahan; Shop Premium Outlets launch of its retail media network powered by Mirakl Ads; The House approving a bill that would force TikTok’s parent company to sell the juggernaut social media app plus interesting pieces in Automotive World, Best Products, New York Times, TechCrunch and RetailDive.
Notable news from the past week
‘Green Unicorns’: Circular Marketplaces Can Lead The Way (Yes – lead story)
In the face of a declining global circularity rate, the need for scalable solutions to promote circular transactions has become increasingly urgent. Circular transactions refer to exchanges between buyers and sellers that advance repair, refurbishment, remanufacturing or recycling, instead of a single use and disposal. Linear marketplaces have proven their ability to efficiently scale—Amazon now seamlessly connects more than 2 million sellers with over 310 million buyers. In this article, Peter Evans, Chief Strategy Office at McFadyen explores how circular marketplaces have the potential to become “green unicorns” and lead the way to greater sustainability.
Interview: What Sam’s Club Is Doing with Digital and Omnichannel To Improve Convenience
In this DigitalCommerce360 article Sam’s Club Vice President of eCommerce, Sabrina Callahan, highlights the need to make digital options more convenient for shoppers. Sam’s Club adapted fast and under pressure when COVID-19 first forced retailers to rethink in-store and omnichannel experiences in 2020. In 2024, the chain of club stores, which operates under Walmart, Inc., is building off what it launched and learned over the past four years. It realized value from its existing investment in Scan & Go and recently debuted new exit gateways that use computer vision to remove the need for customers to have receipts checked manually upon leaving.
Shop Premium Outlets, the marketplace bringing the Simon experience for premium and luxury online for global shoppers, announced the launch of its retail media network powered by Mirakl Ads. Building on Shop Premium Outlets’ successful on-sale and outlet marketplace, the new retail media network offers Shop Premium Outlets sellers a cost-effective channel to boost visibility and sales, while delivering personalized, curated advertisements to the millions of online shoppers that visit Shop Premium Outlets annually.
Platform Services Are Driving the Future of Automotive
In the 2023 American Financial Services Association Vehicle Finance Board Annual Survey, participants named the biggest opportunities as technology improvements, both at the enterprise and functional level, improved data management and the use of AI and machine learning. The industry is increasingly adopting new technology to increase efficiency and agility and to maximize profitability in a difficult season. Manufacturers that deliver exceptional customer experiences are proven to stand out from the crowd, and data-driven insights and personalized offers can be invaluable in delivering that stand-out experience.
Why Is Pinterest So Popular with Gen Z? Here’s How They’re Using the App
It’s official: Gen Z is the trendsetting generation on Pinterest right now. They’re using the image-sharing service a bit differently than Millennials, who helped launch the platform when it debuted in 2010. “Gen Z is Pinterest’s fastest growing audience and represents over 40% of the platform’s global monthly active users,” says Rachel Hardy, Pinterest’s director of consumer product marketing.
House Passes Bill to Force TikTok Sale from Chinese Owner or Ban the App
The House approved a bill Wednesday that would force TikTok’s parent company to sell the juggernaut social media app or face a practical ban in the U.S. The legislation’s proponents argue the app, immensely popular with teens and young people for its customized song and dance features on short clip videos, poses national security risks. TikTok’s parent company ByteDance, is based in Beijing and may expose American user data to Chinese government surveillance.
AliExpress is first online marketplace to face DSA investigation by EU
The European Union has opened its third formal investigation of a very large platform under the Digital Services Act (DSA), with China’s AliExpress earning itself the dubious honor of being the first online marketplace to face formal probe by the Commission. The DSA is the bloc’s rebooted ecommerce rules which demand risk assessments and mitigations by larger platforms which face tough penalties (of up to 6% of global annual turnover) for violations.
Michaels promotes online MakerPlace with ‘Respect the Handmade’
Michaels is putting marketing muscle behind its recently launched MakerPlace through the online shop’s first-ever campaign. “Respect the Handmade” could help the brand gain share against digital competitors like Etsy and loyalty from the growing number of consumers who prefer shopping from small or local businesses.
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