Ecommerce & Marketplaces Newsletter – Apr 21st, 2023
As marketplaces have become digital and more technology platforms are integrating payment solutions into the customer experience, there has been increased interest among technology companies in potentially becoming money transmitters or partnering with regulated financial institutions1 (directly or indirectly) to embed payment solutions within their platforms or apps.
The new European Expansion Accelerator allows sellers who already sell in at least one European store to add some or all of the others with just two clicks rather than having to navigate to several different tools to set up each store, Amazon said in a Wednesday (April 19) press release.
Today’s shopper expects flexibility from retailers. No longer tethered to home due to COVID-19, today’s hybrid shoppers want the ability to shop both online and in physical stores. Merchants are strategizing what services to expand, such as curbside and buy online, pick up in store (BOPIS), and what to cut, according to Digital Commerce 360’s 2023 Omnichannel Report.
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The pool of buyers acquiring Amazon sellers has expanded beyond Amazon aggregators. Thus despite challenges faced by some, the M&A market remains active since it isn’t solely reliant on aggregators.
According to Jungle Scout's 2023 The State of the Amazon Seller report — an annual study into how Amazon Marketplace sellers are faring — 89% of sellers say they are profitable on the platform. A total of 37% even reported increased profits during 2022, despite all that economic uncertainty and rising inflation.
In the current dynamic technological environment, businesses from various sectors must continuously adapt to address ever-changing customer expectations. The ability to maintain competitiveness and relevance is predicated on agility and flexibility. That's why incremental innovation has emerged as a critical strategy for thriving in this fast-paced context.
Ikea will invest more than $2.2 billion over the next three years on its omnichannel growth strategy in the U.S., marking the Swedish home and furniture company’s biggest investment push since it opened in the U.S. nearly 40 years ago.?