Online retailers Temu and Shein reportedly draw millions of visitors to their websites but struggle to convert those visits to sales. Despite their popularity, the two retailers still lag behind market leader Amazon in terms of conversion rate, Reuters reported Wednesday (Nov. 22). Nine out of 10 visitors to Temu’s and Shein’s websites...
TikTok is reportedly turning to GoTo to revive its crucial Indonesian eCommerce business. The two firms are working on a plan — which could be finalized in the next few weeks — that would see TikTok invest in Indonesia-based GoTo’s online shopping arm Tokopedia, Bloomberg News reported Wednesday (Nov. 22),...
The third quarter is far enough behind us that some of the last few data points as to how consumers fared — at least from June to September, and at least in terms of what they spent online — are in. The Census Bureau of...
Walmart has made the consumer spending slowdown official. As fiscal year third-quarter earnings results debuted Thursday morning (Nov. 16) showed a cautious outlook on consumers’ willingness to open their wallets into the holiday shopping season after the quarter’s end, investors sent the shares tumbling more...
Ocado Group is applying its technology outside the online grocery space for the first time, making it the latest eGrocery company to expand beyond the category. The eCommerce technology company, which has up until now operated primarily in the grocery category, announced Wednesday (Nov. 15)...
Bank of America has debuted tools to help customers complete and finance online car purchases. Clients can now become prequalified for auto financing to find out how much they may be able to borrow and estimate their terms, with no impact to their credit scores, the...
Mobile eCommerce platform Wish says it has launched an in-house Logistics-as-a-Service (LaaS) product. WishPost Smart Parcel is designed to offer a “seamless and efficient shipping solution to non-Wish merchants,” the company said in a news release Wednesday (Nov. 15). The program leverages Wish’s logistics network across first-mile, international line...
“Trust, in the digital age,” Doriel Abrahams, head of risk in the U.S. at Forter, told PYMNTS, “is a lot different than it used to be.” Gone are the days where commerce was done in person, where someone behind the counter knew you and your...
Walgreens is taking a new approach to online delivery by utilizing its network of physical stores. The pharmacy giant recently closed a warehouse dedicated to eCommerce orders, signaling its commitment to using its 8,700 stores as both retail outlets and fulfillment centers, The Wall Street Journal...
