The company on Wednesday (Sept. 25) introduced “Flipkart Reset for Business,” a mobile app designed to help small and big sellers of refurbished products across the country to connect with last-mile customers.

“The demand for refurbished products is surging, especially in India’s tier 2 and 3 cities,” the company said in a news release.

“However, sellers of refurbished products face significant challenges, including consumer skepticism about quality of refurbished products, inconsistent device supply, complex logistics, and a lack of standardized refurbishment practices.”

Flipkart says its news app helps alleviate these issues by offering competitive pricing, streamlined onboarding, “rigorous testing” and a 74-point quality check, which back every product with a warranty, “instilling confidence in sellers and their customers.”

According to the release, the platform serves more than 800 cities across India, with plans to expand the program “significantly.” At the moment, the platform sells smartphones and accessories, aiming to address a market for refurbished electronics goods in India that could grow to $11 billion in gross value by 2026.

In other reCommerce news, Amazon announced last week that it had begun offering independent sellers using Fulfillment by Amazon (FBA) in the U.S. a new option for managing product returns: Grade and Resell.

This program, which before now was just available to retail brands, provides a reseller channel that helps merchants recover value on returned inventory and gives customers a greater selection of preowned and open-box products, Amazon said.

In this program, items that are sent back to Amazon’s return centers are examined and then offered for resale, the eCommerce giant said.

“Before an item can be sold through Grade and Resell, we conduct a comprehensive inspection to thoroughly test the condition of each item and provide a detailed description of its condition to make it easier for customers to make a more informed purchase decision,” Gopal Pillai, vice president, worldwide returns and reCommerce at Amazon, wrote in the post. “For electronic items, we will power on, test and factory-reset as part of the evaluation.

“Based on the quality check, each item will be assigned one of four listing conditions: ‘Like New,’ ‘Very Good,’ ‘Good’ or ‘Acceptable,’” Pillai added.

The post Flipkart Introduces Service to Help Resellers Reach Customers appeared first on PYMNTS.com.

In an interview with PYMNTS, Donald Polansky, senior manager of corporate systems development at GlassCraft Door Company, explained the dilemma.

“This could have resulted in an overwhelming and cumbersome experience for customers,” he said. “The traditional eCommerce model was not feasible, as it would have required over 200,000 individual product listings.”

To address this issue, GlassCraft partnered with EYStudios, a design agency specializing in user-centric solutions, and developed a unique new tool: the DoorCrafter. Instead of a conventional shopping interface, the DoorCrafter features a highly customized configurator that allows users to navigate their choices seamlessly.

“The intuitive nature of the application style process allows customers new to our products the ability to craft a door with little to no advanced product knowledge,” Polansky said. “Our traditional business model as a manufacturer relies on dealers or distribution partners. With hundreds of dealers across the nation we needed our platform to simplify the sales process.

“To address this, we integrated with B2B Edition and a set of advanced custom dealer tools within the DoorCrafter platform, providing distributors multi-user accounts with customizable access levels and enhanced features like order history tracking, a robust quote system and seamless reordering of pre-configured lists,” he added. “This has allowed our distributors to operate more efficiently, reducing their administrative workload and improving order accuracy and fulfillment speed.”

As a result, Polansky noted: “This is allowing us to create a nested system where our dealers can give their own customers access to the tools and in just a few clicks transform their customers quote into an order directly to us. The best part about the system is that our customers themselves can manage who inside their organization has access and the level of access each person has. Their sales staff or customers can create quotes and their purchasing department can instantly transform those quotes into orders.”

In recognition of its efforts in redefining the customer and user experience, GlassCraft Door Company, whose platform is powered by BigCommerce, received a 2024 BigCommerce Customer Award in the Shopper Experience category last month.

“The feedback from our users has been phenomenal,” Polansky said. “While our data confirms the significant accomplishments we’ve achieved since launch, it is the personal interactions with our customers that truly drives our passion for this project. At trade shows, through emails, and even direct messages on LinkedIn, users of our platform have repeatedly expressed their love for the system we are developing and their excitement about the continuous addition of new features and enhancements. Many have shared that our online system is unrivaled compared to our competitors and even other industry-related platforms. We are even drawing on inspiration from our customers as they have requested additional features and enhancements, which we have added to our roadmap.”

As a B2B manufacturer, officials at GlassCraft Door Company don’t get the chance to connect with end consumers often.

“We rely on our partners in the distribution chain, and many of those relationships have been fostered for decades,” Polansky said. “The platform we have begun to create here seeks to continue that chain, but at the same time creating a key relationship not only with our direct dealers, but all members in the chain. Our vision with The DoorCrafter is to create a single platform that all parties in the process can use. We strive to build a program that is not simply a B2B relationship, but a B2B2C.”

Polansky, who said the company is “days away from releasing our mobile application on iOS and Android,” talked about what’s next.

“Following this, we’ll introduce ‘Doorothy,’ an AI assistant built on GPT-4, Whisper and Babbage,” he said. “Doorothy, initially launching on mobile, will eventually replace our existing website chat program, Live Caller. Trained with our comprehensive company documentation, literature and CRM data, Doorothy will efficiently and accurately assist customers, including with technical product specifications. Integrated with our Dynamics365 CRM and Microsoft Teams, she will seamlessly connect customers with live representatives.”

Looking ahead, Polansky noted the company plans to utilize custom APIs and integrate with third-party enterprise resource planning (ERP) systems, automating the quote-to-order process and simplifying data management with import/export capabilities in CSV or XML formats.

“Our wishlist for 2025/2026 includes enhancing the DoorCrafter product images, dynamically updating visuals based on configuration options and adding AR tools to our mobile app to visualize custom-configured doors on customers’ homes before purchase,” Polansky added.

The post How GlassCraft’s DoorCrafter Simplifies the B2B Customer Experience appeared first on PYMNTS.com.

Payment facilitators (PayFacs) are transforming how and where we conduct commerce. Entities such as independent software vendors (ISVs) and online marketplaces offer services and products, but they need additional help to be able to receive payments. PayFacs can provide that help.

New embedded finance solutions enable the direct integration of banking and credit products into retail platforms. This integration presents the opportunity for new revenue streams. PYMNTS Intelligence’s data shows that ISVs and marketplaces offering two core types of features — payment acceptance and embedded finance features — are the most likely to report payment processing fees make up a greater share of the revenue they generate.

ISVs and marketplaces — like PayFacs — increasingly recognize the value of offering both payment acceptance and embedded finance features. Top features on their innovation plans include buy now, pay later (BNPL) and loyalty and rewards programs. PYMNTS Intelligence finds differences in emphasis among the innovation plans of PayFacs, ISVs and marketplaces.

These are some of the key findings explored in this edition of the “Business Platform Survey: Why Embedded Finance is the Next Big Bet,” a PYMNTS Intelligence and Carat from Fiserv collaboration. This report explores the characteristics, sentiments and behaviors of PayFacs, marketplaces and ISVs regarding payment acceptance and embedded finance. We surveyed 280 executives — 40 at PayFacs, 120 at marketplaces and 120 at ISVs — between May 28 and July 30, 2024, to determine how they facilitate payment and embedded lending processes for their customers.

Inside “The PayFac, ISV and Platform Commerce Report: Why Embedded Finance is the Next Big Bet:”

• Insight into the benefits of offering both payment acceptance and embedded finance
• Changes in firms’ payment offerings in the last year
• How expanding these offerings can increase revenue and market expansion for PayFacs, ISVs and marketplaces
• How PayFacs can support ISVs and marketplaces meet regulatory requirements, reduce security risks and alleviate operational constraints in payment processing
• What embedded finance features PayFacs, ISVs and marketplaces show interest in innovating and enhancing
• Innovation timelines for PayFacs, ISVs and marketplaces

The report explores the crucial benefits of adding and enhancing capabilities. This report features nine charts of insightful data that details the opportunity for PayFacs, ISVs and marketplaces. It also explores the reasons market leaders should enhance embedded finance offerings. In addition, it provides insight into possible challenges to avoid. Download the report to learn more.

The post Embedded Finance Is the Force Multiplier for PayFacs and Software Platforms appeared first on PYMNTS.com.

By integrating its historical roots with modern eCommerce strategies, The Linz Shop is making a name for itself beyond the restaurant industry — among its clients is Shula’s Steak House — aiming to become a staple in households across the nation.

As the direct-to-consumer (D2C) arm of Meats By Linz of Hammond, Indiana, The Linz Shop looks to build an enduring brand identity.

Breaking From the Herd

In an interview with PYMNTS, Kevin Sullivan, director of eCommerce for Meats By Linz and Linz Heritage Angus, said the company’s backstory differentiates itself in a crowded marketplace.

“Heritage and storytelling are cornerstones of The Linz Shop,” he explained. “While the Linz name is renowned in the restaurant and hospitality industries, it has yet to become a household brand. This makes it crucial for us to showcase the rich history behind our wholesale brand, Meats by Linz, and our eCommerce brand, The Linz Shop, on our website.

“Through our storytelling and partnerships with top-tier restaurants, we establish a strong connection with our customers, sharing with them the ultimate steak-eating experience.”

Communicating the quality and consistency of Linz Heritage Angus beef is central to The Linz Shop’s strategy, he said.

Food Chain Transparency

According to the company’s website, Conception to Plate is what Linz Heritage Angus is all about, and it differentiates its steaks from all others. Conception to Plate means “full control from the source, all the way to your kitchen. It’s knowing where your beef comes from and the only way to produce truly consistent beef. It’s the Linz Way. While many purveyors source their beef from any and everywhere they can, Linz Heritage Angus focuses on the quality genetics of our very own herd.”

Additionally, Sullivan pointed to Conception to Plate as a key attraction for consumers.

“The Linz Shop is successfully navigating the challenges of a lackluster economy and rising inflation thanks to its unique Conception to Plate approach,” he explained. “By cutting out the middleman, we remain competitive while delivering the world’s finest steaks. To elevate your at-home steakhouse experience, we’ve also introduced a curated selection of soups, sides and desserts crafted by our renowned restaurant partners.”

Tapping Tech to Reach Consumers

The company’s platform, powered by BigCommerce, has enhanced SEO capabilities, internal search and shipping, while a new rewards program and refer-a-friend initiative have further engaged customers.

“We’ve made shopping at The Linz Shop even easier and more rewarding,” Sullivan added. “To enhance the user experience, we streamlined our menus and made sale items more accessible. We also improved our keyword search functionality, making it easier for customers to find exactly what they need.

“Additionally, we created a seasonal calendar showcasing relevant sale items and added a site banner to keep customers informed of these special offers. Every time we introduce a new feature or upgrade, we promptly inform our customers, ensuring they fully benefit from these improvements. Looking ahead, in Q4 2024, we’ll be adding a new chatbot feature as well as a subscription service.”

When redesigning The Linz Shop, Sullivan said the top priority was addressing customer pain points.

“Our new site is fully mobile responsive, ensuring a seamless experience for customers on both mobile and tablet devices,” he explained. “The addition of more payment methods has streamlined the checkout process, making it faster and more convenient.”

On the product side, Sullivan said, “We’ve focused on creating more value and offering better deals for our customers. We’ve introduced additional pricing options to make our premium steaks more accessible and have started collaborating with affiliates to strengthen brand equity. We’ve also enhanced the product copy for each item, highlighting the quality and value of every assortment.”

Due to its efforts in recent years, the company earned first place in the emerging brand category at last month’s 2024 Big Customer Awards presentation.

While the economy has impacted consumer spending — 64% of U.S. consumers live paycheck to paycheck, up from 61% in April 2023; and 25% of consumers report their financial situation has worsened this year — PYMNTS data shows more consumers were treating themselves with food and experiences. 

Looking Ahead

What does the future hold for The Linz Shop?

“We plan to continue expanding and enhancing The Linz Shop experience,” Sullivan added. “We’ll be adding top-tier steak cuts based on what our restaurant partners are serving, and we’re exploring opportunities to expand outside the U.S. We’re collaborating with our chefs and restaurant partners to enhance our recipe content and cooking tips.

“To broaden our brand’s reach, we’re partnering with influencers to connect with new demographics. With our new test kitchen, we’ll be creating more content and expanding to new social media channels.”

The post The Linz Shop Aims to Stand Out From D2C Herd With Its Heritage, Storytelling appeared first on PYMNTS.com.

But what, exactly, is headless commerce?

As Andrew Gordon, eCommerce payments strategist at Discover® Global Network, explained to PYMNTS, headless commerce empowers merchants to adopt a more agile and innovative approach to eCommerce, leading to better customer experiences across all channels. Headless commerce is an architectural approach in eCommerce where the front-end (customer-facing) and back-end (business logic and operations) parts of a platform are decoupled.

In traditional eCommerce setups, the front end and back end are tightly intertwined, meaning changes in one part can impact the other. This integration often leads to limitations in customization and a slower response to technological advancements or customer demands. For instance, updating a single feature might require extensive changes across the entire platform, making the overall system less agile.

“Headless commerce is about separating the customer-facing elements — the look and feel of a website — from the back-end systems that manage business functions like inventory, checkout and payments. This decoupling is achieved through APIs, which connect these two layers,” Gordon said.

This separation allows for more flexibility and customization, as businesses can independently manage and update the user interface and back-end systems without disrupting the entire platform.

And in a fast-moving commerce landscape where competition is just a click away, headless commerce is proving to be crucial for merchants looking to meet the needs of their customers while driving greater stickiness and retention.

Headless Commerce and the Shift From Traditional eCommerce

While to the uninitiated the term headless commerce might sound like a buzzword, its implications are far-reaching, and they are already transforming how businesses and consumers interact in the digital marketplace.

Among the main benefits of headless commerce is the game-changing but simple fact that it allows businesses to choose the best tools and technologies for each part of their system.

For example, as Gordon highlighted, a merchant may need to have both their mobile app and desktop store connect to the same customer relationship management (CRM) software and payment gateway. Through the API-based architecture of headless commerce, this is possible.

Additionally, this level of configurability can also be applied to the back-end services that help merchants run their digital experiences. The flexibility of headless commerce enables companies to utilize best-in-class capabilities — for example, a CRM, payment solutions or even shipping software — right into their headless commerce solution. This ability for customization is akin to building with Legos, where different pieces can be assembled in various configurations, in this case for business success.

“Out-of-the-box eCommerce platforms often restrict businesses to the features they offer, limiting customization. Headless commerce breaks this limitation by enabling businesses to design their front-end experience across multiple channels — be it desktop, mobile apps or kiosks — while maintaining a consistent back-end system,” he said.

This flexibility also extends to the integration of new technologies and customer engagement strategies.

For instance, Gordon noted that businesses can quickly adapt to emerging trends like augmented reality (AR) for virtual try-ons or implement advanced artificial intelligence (AI)-driven customer service bots.

The ability to provide a consistent experience across all touchpoints is crucial in today’s omnichannel retail environment. As consumers increasingly expect seamless interactions, whether they are shopping online, on mobile devices or in physical stores, headless commerce enables businesses to meet these expectations more effectively, Gordon said.

Future Trends in Headless Commerce

 The growing adoption of headless commerce and its flexibility has reduced the barrier to entry for businesses interested in this approach. Its benefits are no longer just limited to tech-savvy startups or businesses building a new online architecture from scratch.

“We’re seeing a significant shift as legacy eCommerce platforms adopt headless commerce approaches. This trend indicates a broader acceptance of the model, making it more accessible to mid-tier companies and even some smaller businesses with adequate development resources,” Gordon said.

He added that there are four key trends and innovation pillars that will support the expansion of headless commerce while fostering a more extensive ecosystem of compatible tools and services: API-driven innovation, next-generation applications of artificial intelligence (AI) and machine learning, the convergence of social media and eCommerce and the integration of payments innovation.

APIs are the backbone of headless commerce, allowing different systems to communicate and share data for services like personalized recommendation engines or advanced analytics platforms, Gordon said. He believes that as we see the digital space and payments ecosystem continue to expand, APIs will be essential part of that growth.

Powered through API connectivity, merchants can gain the ability to use AI and machine learning powered tools to further benefit their customers. This can range from an AI chatbot handling customer service questions on a website to a powerful product recommendations algorithm that increases sales at checkout.

Another space that benefits from enhanced connectivity via APIs and headless commerce is the relationship between eCommerce and social media. As more and more shoppers turn to influencers and social media for product recommendations, merchants have more tools to convert consumer interest into sales by connecting their social media presence directly to their eCommerce sites. The flexibility of headless commerce extends to payment systems as well, and businesses can integrate various payment options, from digital wallets and buy-now-pay-later solutions to cryptocurrencies, catering to diverse customer sets.

The best part? These innovations can be seamlessly integrated into the existing system without overhauling the back-end infrastructure.

The post Headless Commerce Will Power the Heart of Future Online Experiences  appeared first on PYMNTS.com.

The administration’s proposed rules changes target the de minimis exception that allows imported products to enter the United States without duties or taxes if the shipment’s aggregate fair retail is $800 or less, the White House said in a Friday (Sept. 13) fact sheet.

The number of shipments claiming this exception has risen from 140 million a year to over 1 billion a year over the last decade, with most of these shipments coming from several China-founded eCommerce platforms, the fact sheet said.

The White House said that the increase in shipments claiming the de minimis exception has made it more difficult to enforce trade laws, health and safety requirements, intellectual property rights and consumer protection rules; has made it challenging to prevent illegal products from entering the country; and has undercut American workers and businesses.

U.S. Secretary of Commerce Gina M. Raimondo said in a statement released Friday that Chinese eCommerce platforms have skirted tariffs by abusing the de minimis exception, harming American workers and businesses who have been denied a level playing field.

“With these new actions, the Biden-Harris Administration is standing up for American consumers and cracking down on Chinese companies’ efforts to undercut American workers and businesses,” Raimondo said in the statement.

The White House said in the fact sheet that it proposed rules that, among other things, would exclude from the de minimis exception about 40% of all U.S. imports, including 70% of textile and apparel imports from China. It also called on Congress to pass a more comprehensive reform of the de minimis exception.

Companies that ship direct to U.S. consumers from China, such as Shein and Temu, have benefited from the de minimis exception, Reuters reported Friday. After the White House announcement, Temu owner PDD Holdings’ shares dipped 5%, per the report.

It was reported in June that Amazon plans to add a section to its shopping site that aims to compete with Temu and Shein by offering items that are cheap and are shipped from China to overseas customers.

The report said it was not clear if the items offered on the marketplace will be shipped in a way that exempts them from U.S. customs duties, as both Temu and Shein do.

The post White House Proposes New Trade Rules to Counter Chinese eCommerce Companies appeared first on PYMNTS.com.

CEO Josh Silverman and Chief Financial Officer Rachel Glaser said at a conference that Etsy seeks to distinguish itself from rivals like Amazon, Seeking Alpha reported Tuesday (Sept. 10).

One of the company’s recently launched initiatives is Etsy Insider, a paid subscription that will provide free shipping to members, according to the report.

Other new efforts include an Etsy Gift Mode that lets shoppers send a message to the recipient before the gift arrives, a plan to raise the percentage of shoppers using the Etsy mobile app from 40% to 75%, and a quality score that gives higher rated products a better position in search results, per the report.

Silverman said during a July 31 earnings call that Etsy’s new loyalty program is designed to drive greater spending and frequency among consumers who demand to be rewarded for their purchases.

“We’ve focused on developing key benefits for buyers that highlight both the emotional and the rational characteristics of Etsy’s unique value proposition,” Silverman said. “… Our beta program is buyer-fee based and will include free U.S. domestic shipping on millions of items, item discounts, first access merchandise and more. We’ll test, learn and iterate, and are optimistic that over time, Etsy Insider can be a needle mover, driver of buyer frequency and Etsy love.”

Etsy’s recent efforts to enhance its search and discovery tools are designed to incorporate listing quality into their visibility on the platform, Etsy Chief Product Officer Nick Daniel told PYMNTS in an interview posted Friday (Sept. 6).

“When shoppers are searching on Etsy, it’s important that they can easily find high-quality listings from shops that have a track record of good customer service,” Daniel said. “Making these listings easier to find helps build trust with shoppers so they come back to shop on Etsy again and again.”

When launching Gift Mode in January, Etsy said this feature is designed to position the platform as “the destination for gifting” and to increase the share of shoppers who think of Etsy as a place for gifts.

The post Etsy Offers Subscribers Free Shipping While Aiming for ‘Tremendous’ Growth appeared first on PYMNTS.com.

In an interview with PYMNTS, Nick Daniel, Etsy’s chief product officer, explains the company’s recent efforts are designed to incorporate listing quality into their visibility on the platform.

“Since earlier this year, we’ve been working on new ways to incorporate the quality of a listing into where it shows up on Etsy — in places like search and recommendations,” Daniel said, noting factors such as listing details, photo quality and customer service records.

Ramping Up the Consumer Experience

Daniel emphasized Etsy’s commitment to enhancing the browsing experience

“We are optimizing our search results to showcase a broader range of items from more sellers,” he said. “We also want to make it easier and more fun to explore the incredible breadth and depth our marketplace has to offer. This is particularly helpful when customers don’t know exactly what they’re looking for and want to browse a wider set of options in various styles.”

This diversification strategy has opened new opportunities for sellers, as Daniel noted, “serving up a broader array of listings has led to approximately 70% of shops on Etsy having more visibility in search.”

According to Daniel, the refinement of search algorithms involves a range of factors to determine where listings appear.

“When shoppers are searching on Etsy, it’s important that they can easily find high-quality listings from shops that have a track record of good customer service,” he explained. “Making these listings easier to find helps build trust with shoppers so they come back to shop on Etsy again and again.”

Positive trends have emerged since the implementation of these updates.

“We’ve seen an increase in the number of 4- and 5-star reviews sitewide, while also seeing a decline in the rate at which buyers request refunds, both of which indicate shoppers are happier with their experiences on Etsy,” Daniel said.

The revamped search features come at a time when Etsy is looking to recoup the number of consumers shopping on the platform — its second-quarter earnings showed a dip in sales as retail spending continues to navigate the uncertain economy.

Consumers, overall, are being more selective about purchases, and PYMNTS Intelligence data shows they often trade down to less expensive options, especially those consumers who live paycheck to paycheck.

Enhancing the search experience for consumers and providing tools to sellers to better craft listings may help Etsy reach those shoppers.

New Seller Tools

Daniel said the introduction of the Etsy Search Visibility Page was a key development designed to enhance transparency for sellers.

“We’re excited to announce the new Etsy Search Visibility Page in Shop Manager, giving our sellers more insights and recommendations into how they appear in search than ever before,” he said. “We’ve heard from sellers consistently over the years that they want more transparency into what goes into Etsy search to help optimize listings and make more sales.”

The Search Visibility Page was developed in response to repeated seller requests for greater clarity on search algorithms. The page offers actionable tips to help sellers improve their search rankings, focusing on elements such as listing image quality, return policies, message response times and shipping prices.

The page is intended to empower sellers with the tools needed to enhance their listings and, by extension, their search visibility.

“As sellers make changes to their listings, they’ll have the ability to track improvements in real time,” Daniel said. This feature aims to facilitate a more proactive approach to optimizing listings and improving the overall shopping experience on Etsy.

The Search Visibility Page provides detailed insights into various aspects of seller performance. For example, Etsy will notify sellers monthly if they meet customer service standards and how this affects their search visibility.

“Sellers can also keep track of daily progress on the customer service stats page,” Daniel said. “Consistently going above and beyond for customers could also help our sellers be recategorized as a Star Seller, which serves as a further trust signal to buyers and can drive increased conversion. We want to make sure high-quality listings with clear information stand out so that buyers feel confident in making a purchase.”

The post Etsy’s New Search Tools Aim to Elevate Quality Listings and Enhance Seller Success appeared first on PYMNTS.com.

The arrangement will offer shoppers access to pre-verified, coveted athletic shoes such as Nike’s Air Jordan sneakers and brands like New Balance and Asics, Bloomberg reported Wednesday (Sept. 4).

Items will become available on Walmart’s website next week, with StockX verifying and fulfilling orders, the report said.

Michael Mosser, vice president and category lead at Walmart Marketplace, said the partnership could expand to thousands of products, per the report.

Shoppers “are looking for this full spectrum of products from Walmart,” from staples to collectible items, Mosser said in the report, adding that the retailer is seeing a strong consumer appetite for in-demand sneakers.

This marks StockX’s first third-party platform deal, CEO Scott Cutler said in the report, adding that the partnership will help the company reach consumers who may not be familiar with the brand.

The collaboration comes as Walmart aims to boost its online business as it competes with Amazon.

Last week, the company announced updates to its offerings for third-party sellers at the 2024 Walmart Marketplace Seller Summit, including new product categories such as Premium Beauty and pre-owned merchandise, along with features designed to streamline cross-market selling.

In addition, Walmart discussed plans for multichannel fulfillment, letting sellers use the company’s logistics network to fulfill orders from other eCommerce sites, as well as a cross-border import service to simplify global shipping.

Meanwhile, Walmart’s overall digital presence is expanding. The latest edition of the PYMNTS Intelligence “Whole Paycheck” report calculated Walmart and Amazon’s market shares in various categories, finding that Walmart’s digital mix nearly doubled from the start of 2020 to the second quarter of this year, increasing from 9% to 16%. The company’s eCommerce sales surged from $9.3 billion in the first quarter of 2020 to $21.8 billion in the second quarter of this year.

“Now, it seems, the company is turning to its marketplace to take that growth to the next level,” PYMNTS wrote. “Amazon’s lead in consumer retail spending serves as something of a testament to the effectiveness of the third-party model. In Q2, Amazon captured 8.3% of consumers’ retail spending compared to Walmart’s 7.5%.”

The post Walmart Teams With StockX to Bolster Marketplace appeared first on PYMNTS.com.

That’s the largest cash position of any listed company that doesn’t pay dividends or buy back shares, the Financial Times (FT) reported Sunday (Sept. 1), days after the Chinese company ruled out investor payouts, sending its stock tumbling.

PDD’s stockpile is more than twice the size of the second-closest contender, car company Tesla, the report added. PDD’s value soared when it expanded beyond China, the FT said, though some investors consider its “hoarding” of cash a red flag.

Last week, PDD released quarterly earnings showing an 86% jump in revenue and a 156% increase in profits, but also sounded a note of caution.

“While encouraged by the solid progress we made in the past few quarters, we see many challenges ahead,” PDD Chairman and CEO Lei Chen said in a news release. 

“We are committed to transitioning toward high-quality development and fostering sustainable ecosystem. We will invest heavily in the platform’s trust and safety, support high-quality merchants, and relentlessly improve the merchant ecosystem. We are prepared to accept short-term sacrifices and potential decline in profitability.”

PDD’s share price dropped 31% following that warning and its statement that it was ruling out dividends or buybacks “for the foreseeable future.”

According to the FT, PDD has been the subject of controversy over the rapid expansion of Temu, its treatment of workers and suppliers, and its limited financial disclosures.

The FT report noted that most of the world’s larger companies pay dividends or buy back shares. MSCI’s Investable Market Index, made up of around 2,800 constituents from 47 countries, features 151 companies with more than $5 billion of net cash on their balance sheet as of Wednesday.

Just five of them do not pay dividends or buy back stock, the report said. In addition to Tesla and PDD, that group includes Li Auto, a Chinese electric-car company, payments company Adyen and electric turbine company Vernova.

This spring brought reports that Temu was looking beyond the U.S. for its growth. The company later dismissed those reports, saying that it was pushing into other countries but that does not mean it sees the American market as less important.

Meanwhile, Temu’s battle against rival Shein took on a new dimension recently when the latter company sued the former, alleging that Temu encourages merchants to steal other brands’ designs and blocks them from pulling products from the platform, even in instances in which the seller admits to infringement.

Temu responded by criticizing the “audacity” of Shein’s litigation, noting that its competitor had faced a “mountain” of similar lawsuits.

For all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.

The post Temu Parent Accumulates $38 Billion Cash Stockpile appeared first on PYMNTS.com.