Indian eCommerce giant\u00a0Flipkart\u00a0is getting into the reCommerce business.
\nThe company on Wednesday (Sept. 25) introduced\u00a0\u201cFlipkart Reset for Business,\u201d\u00a0a mobile app designed to help small and big sellers of refurbished products across the country to connect with last-mile customers.
\n\u201cThe demand for refurbished products is surging, especially in India\u2019s tier 2 and 3 cities,\u201d the company said in a news release.
\n\u201cHowever, 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\u00a0refurbishment practices.\u201d
\nFlipkart says its news app helps alleviate these issues by offering competitive pricing, streamlined onboarding, \u201crigorous testing\u201d and a 74-point quality check, which back every product with a warranty, \u201cinstilling confidence in sellers and their customers.\u201d
\nAccording to the release, the platform serves more than 800 cities across India, with plans to expand the program \u201csignificantly.\u201d 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.
\nIn 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\u00a0managing product returns: Grade and Resell.
\nThis 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\u00a0preowned\u00a0and open-box products, Amazon said.
\nIn this program, items that are sent back to Amazon\u2019s return centers are examined and then offered for resale, the eCommerce giant said.
\n\u201cBefore 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,\u201d\u00a0Gopal Pillai, vice president, worldwide returns and reCommerce at Amazon, wrote in the post. \u201cFor electronic items, we will power on, test and factory-reset as part of the evaluation.
\n\u201cBased on the quality check, each item will be assigned one of four listing conditions: \u2018Like New,\u2019 \u2018Very Good,\u2019 \u2018Good\u2019 or \u2018Acceptable,\u2019\u201d Pillai added.
\nThe post Flipkart Introduces Service to Help Resellers Reach Customers appeared first on PYMNTS.com.
\n", "content_text": "Indian eCommerce giant\u00a0Flipkart\u00a0is getting into the reCommerce business.\nThe company on Wednesday (Sept. 25) introduced\u00a0\u201cFlipkart Reset for Business,\u201d\u00a0a mobile app designed to help small and big sellers of refurbished products across the country to connect with last-mile customers.\n\u201cThe demand for refurbished products is surging, especially in India\u2019s tier 2 and 3 cities,\u201d the company said in a news release.\n\u201cHowever, 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\u00a0refurbishment practices.\u201d\nFlipkart says its news app helps alleviate these issues by offering competitive pricing, streamlined onboarding, \u201crigorous testing\u201d and a 74-point quality check, which back every product with a warranty, \u201cinstilling confidence in sellers and their customers.\u201d\nAccording to the release, the platform serves more than 800 cities across India, with plans to expand the program \u201csignificantly.\u201d 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.\nIn 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\u00a0managing product returns: Grade and Resell.\nThis 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\u00a0preowned\u00a0and open-box products, Amazon said.\nIn this program, items that are sent back to Amazon\u2019s return centers are examined and then offered for resale, the eCommerce giant said.\n\u201cBefore 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,\u201d\u00a0Gopal Pillai, vice president, worldwide returns and reCommerce at Amazon, wrote in the post. \u201cFor electronic items, we will power on, test and factory-reset as part of the evaluation.\n\u201cBased on the quality check, each item will be assigned one of four listing conditions: \u2018Like New,\u2019 \u2018Very Good,\u2019 \u2018Good\u2019 or \u2018Acceptable,\u2019\u201d Pillai added.\nThe post Flipkart Introduces Service to Help Resellers Reach Customers appeared first on PYMNTS.com.", "date_published": "2024-09-25T17:03:22-04:00", "date_modified": "2024-09-25T22:38:36-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2020/12/Flipkart-IPO-Walmart.jpg", "tags": [ "Amazon", "B2B", "B2B Payments", "commercial payments", "eCommerce", "Flipkart", "india", "News", "PYMNTS News", "ReCommerce", "refurbished goods", "resale", "Retail", "What's Hot", "What's Hot In B2B" ] }, { "id": "https://www.pymnts.com/?p=2104280", "url": "https://www.pymnts.com/news/ecommerce/2024/how-glasscrafts-doorcrafter-simplifies-the-b2b-customer-experience/", "title": "How GlassCraft\u2019s DoorCrafter Simplifies the B2B Customer Experience", "content_html": "When GlassCraft Door Company set out to transition its product line of doors to an online platform, the challenge was immense. Traditional eCommerce solutions simply couldn\u2019t accommodate the vast array of options available.
\nIn an interview with PYMNTS, Donald Polansky, senior manager of corporate systems development at GlassCraft Door Company, explained the dilemma.
\n\u201cThis could have resulted in an overwhelming and cumbersome experience for customers,\u201d he said. \u201cThe traditional eCommerce model was not feasible, as it would have required over 200,000 individual product listings.\u201d
\nTo 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.
\n\u201cThe 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,\u201d Polansky said. \u201cOur 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.
\n\u201cTo 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,\u201d he added. \u201cThis has allowed our distributors to operate more efficiently, reducing their administrative workload and improving order accuracy and fulfillment speed.\u201d
\nAs a result, Polansky noted: \u201cThis 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.\u201d
\nIn recognition of its efforts in redefining the customer and user experience, GlassCraft Door Company, whose platform is powered by BigCommerce, received a\u00a02024 BigCommerce Customer Award in the Shopper Experience category last month.
\n\u201cThe feedback from our users has been phenomenal,\u201d Polansky said. \u201cWhile our data confirms the significant accomplishments we\u2019ve 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.\u201d
\nAs a B2B manufacturer, officials at GlassCraft Door Company don\u2019t get the chance to connect with end consumers often.
\n\u201cWe rely on our partners in the distribution chain, and many of those relationships have been fostered for decades,\u201d Polansky said. \u201cThe 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.\u201d
\nPolansky, who said the company is \u201cdays away from releasing our mobile application on iOS and Android,\u201d talked about what\u2019s next.
\n\u201cFollowing this, we\u2019ll introduce \u2018Doorothy,\u2019 an AI assistant built on GPT-4, Whisper and Babbage,\u201d he said. \u201cDoorothy, 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.\u201d
\nLooking 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.
\n\u201cOur 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\u2019 homes before purchase,\u201d Polansky added.
\nThe post How GlassCraft\u2019s DoorCrafter Simplifies the B2B Customer Experience appeared first on PYMNTS.com.
\n", "content_text": "When GlassCraft Door Company set out to transition its product line of doors to an online platform, the challenge was immense. Traditional eCommerce solutions simply couldn\u2019t accommodate the vast array of options available.\nIn an interview with PYMNTS, Donald Polansky, senior manager of corporate systems development at GlassCraft Door Company, explained the dilemma.\n\u201cThis could have resulted in an overwhelming and cumbersome experience for customers,\u201d he said. \u201cThe traditional eCommerce model was not feasible, as it would have required over 200,000 individual product listings.\u201d\nTo 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.\n\u201cThe 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,\u201d Polansky said. \u201cOur 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.\n\u201cTo 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,\u201d he added. \u201cThis has allowed our distributors to operate more efficiently, reducing their administrative workload and improving order accuracy and fulfillment speed.\u201d\nAs a result, Polansky noted: \u201cThis 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.\u201d\nIn recognition of its efforts in redefining the customer and user experience, GlassCraft Door Company, whose platform is powered by BigCommerce, received a\u00a02024 BigCommerce Customer Award in the Shopper Experience category last month.\n\u201cThe feedback from our users has been phenomenal,\u201d Polansky said. \u201cWhile our data confirms the significant accomplishments we\u2019ve 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.\u201d\nAs a B2B manufacturer, officials at GlassCraft Door Company don\u2019t get the chance to connect with end consumers often.\n\u201cWe rely on our partners in the distribution chain, and many of those relationships have been fostered for decades,\u201d Polansky said. \u201cThe 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.\u201d\nPolansky, who said the company is \u201cdays away from releasing our mobile application on iOS and Android,\u201d talked about what\u2019s next.\n\u201cFollowing this, we\u2019ll introduce \u2018Doorothy,\u2019 an AI assistant built on GPT-4, Whisper and Babbage,\u201d he said. \u201cDoorothy, 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.\u201d\nLooking 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.\n\u201cOur 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\u2019 homes before purchase,\u201d Polansky added.\nThe post How GlassCraft\u2019s DoorCrafter Simplifies the B2B Customer Experience appeared first on PYMNTS.com.", "date_published": "2024-09-23T15:22:38-04:00", "date_modified": "2024-09-25T22:38:04-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/GlassCraft-Door-Company-b2b-eCommerce.jpg", "tags": [ "B2B", "B2B Payments", "commercial payments", "customer experience", "digital transformation", "Donald Polansky", "eCommerce", "GlassCraft", "GlassCraft Door Company", "News", "PYMNTS News" ] }, { "id": "https://www.pymnts.com/?p=2101913", "url": "https://www.pymnts.com/news/ecommerce/2024/embedded-finance-is-the-force-multiplier-for-payfacs-and-software-platforms/", "title": "Embedded Finance Is the Force Multiplier for PayFacs and Software Platforms", "content_html": "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.
\nNew 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\u2019s data shows that ISVs and marketplaces offering two core types of features \u2014 payment acceptance and embedded finance features \u2014 are the most likely to report payment processing fees make up a greater share of the revenue they generate.
\nISVs and marketplaces \u2014 like PayFacs \u2014 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.
\nThese are some of the key findings explored in this edition of the \u201cBusiness Platform Survey: Why Embedded Finance is the Next Big Bet,\u201d\u00a0a 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 \u2014 40 at PayFacs, 120 at marketplaces and 120 at ISVs \u2014 between May 28 and July 30, 2024, to determine how they facilitate payment and embedded lending processes for their customers.
\nThe 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.
\nThe post Embedded Finance Is the Force Multiplier for PayFacs and Software Platforms appeared first on PYMNTS.com.
\n", "content_text": "Download the Study\n \n Business Platform Survey: Why Embedded Finance is the Next Big Bet\n \n \n \n \n \n \n [contact-form-7]\n \n \n \n \n \n\nPayment 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.\nNew 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\u2019s data shows that ISVs and marketplaces offering two core types of features \u2014 payment acceptance and embedded finance features \u2014 are the most likely to report payment processing fees make up a greater share of the revenue they generate.\nISVs and marketplaces \u2014 like PayFacs \u2014 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.\nThese are some of the key findings explored in this edition of the \u201cBusiness Platform Survey: Why Embedded Finance is the Next Big Bet,\u201d\u00a0a 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 \u2014 40 at PayFacs, 120 at marketplaces and 120 at ISVs \u2014 between May 28 and July 30, 2024, to determine how they facilitate payment and embedded lending processes for their customers.\nInside \u201cThe PayFac, ISV and Platform Commerce Report: Why Embedded Finance is the Next Big Bet:\u201d\n\nInsight into the benefits of offering both payment acceptance and embedded finance\nChanges in firms\u2019 payment offerings in the last year\nHow expanding these offerings can increase revenue and market expansion for PayFacs, ISVs and marketplaces\nHow PayFacs can support ISVs and marketplaces meet regulatory requirements, reduce security risks and alleviate operational constraints in payment processing\nWhat embedded finance features PayFacs, ISVs and marketplaces show interest in innovating and enhancing\nInnovation timelines for PayFacs, ISVs and marketplaces\n\nThe 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.\nThe post Embedded Finance Is the Force Multiplier for PayFacs and Software Platforms appeared first on PYMNTS.com.", "date_published": "2024-09-19T04:00:33-04:00", "date_modified": "2024-09-23T22:58:34-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/embedded-finance-business-platforms.jpg", "tags": [ "B2B", "B2B Payments", "Carat from Fiserv", "commercial payments", "Digital Payments", "embedded finance", "independent software vendors", "ISVs", "Main Feature", "marketplaces", "News", "payfacs", "payment acceptance", "payment facilitators", "payments innovation", "PYMNTS Intelligence", "PYMNTS News", "PYMNTS Study", "eCommerce" ] }, { "id": "https://www.pymnts.com/?p=2101143", "url": "https://www.pymnts.com/news/ecommerce/2024/the-linz-shop-aims-to-stand-out-from-d2c-herd-with-its-heritage-storytelling/", "title": "The Linz Shop Aims to Stand Out From D2C Herd With Its Heritage, Storytelling", "content_html": "Company officials at The Linz Shop hope to redefine premium beef delivery by leveraging their history and storytelling. As a fourth-generation family-owned business, the company is transforming its story into a direct-to-consumer powerhouse.
\nBy integrating its historical roots with modern eCommerce strategies, The Linz Shop is making a name for itself beyond the restaurant industry \u2014 among its clients is Shula\u2019s Steak House \u2014 aiming to become a staple in households across the nation.
\nAs the direct-to-consumer (D2C) arm of Meats By Linz of Hammond, Indiana, The Linz Shop looks to build an enduring brand identity.
\nIn an interview with PYMNTS, Kevin Sullivan, director of eCommerce for Meats By Linz and Linz Heritage Angus, said the company\u2019s backstory differentiates itself in a crowded marketplace.
\n\u201cHeritage and storytelling are cornerstones of The Linz Shop,\u201d he explained. \u201cWhile 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.
\n\u201cThrough our storytelling and partnerships with top-tier restaurants, we establish a strong connection with our customers, sharing with them the ultimate steak-eating experience.\u201d
\nCommunicating the quality and consistency of Linz Heritage Angus beef is central to The Linz Shop\u2019s strategy, he said.
\nAccording to the company\u2019s website, Conception to Plate is what Linz Heritage Angus is all about, and it differentiates its steaks from all others. Conception to Plate means \u201cfull control from the source, all the way to your kitchen. It\u2019s knowing where your beef comes from and the only way to produce truly consistent beef. It\u2019s 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.\u201d
\nAdditionally, Sullivan pointed to Conception to Plate as a key attraction for consumers.
\n\u201cThe Linz Shop is successfully navigating the challenges of a lackluster economy and rising inflation thanks to its unique Conception to Plate approach,\u201d he explained. \u201cBy cutting out the middleman, we remain competitive while delivering the world\u2019s finest steaks. To elevate your at-home steakhouse experience, we\u2019ve also introduced a curated selection of soups, sides and desserts crafted by our renowned restaurant partners.\u201d
\nThe company\u2019s 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.
\n\u201cWe\u2019ve made shopping at The Linz Shop even easier and more rewarding,\u201d Sullivan added. \u201cTo 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.
\n\u201cAdditionally, 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\u2019ll be adding a new chatbot feature as well as a subscription service.\u201d
\nWhen redesigning The Linz Shop, Sullivan said the top priority was addressing customer pain points.
\n\u201cOur new site is fully mobile responsive, ensuring a seamless experience for customers on both mobile and tablet devices,\u201d he explained. \u201cThe addition of more payment methods has streamlined the checkout process, making it faster and more convenient.\u201d
\nOn the product side, Sullivan said, \u201cWe\u2019ve focused on creating more value and offering better deals for our customers. We\u2019ve 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.\u201d
\nDue to its efforts in recent years, the company earned first place in the emerging brand category at last month\u2019s\u00a02024 Big Customer Awards presentation.
\nWhile the economy has impacted consumer spending \u2014 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 \u2014 PYMNTS data shows more consumers were treating themselves with food and experiences.\u00a0
\nWhat does the future hold for The Linz Shop?
\n\u201cWe plan to continue expanding and enhancing The Linz Shop experience,\u201d Sullivan added. \u201cWe\u2019ll be adding top-tier steak cuts based on what our restaurant partners are serving, and we\u2019re exploring opportunities to expand outside the U.S. We\u2019re collaborating with our chefs and restaurant partners to enhance our recipe content and cooking tips.
\n\u201cTo broaden our brand\u2019s reach, we\u2019re partnering with influencers to connect with new demographics. With our new test kitchen, we\u2019ll be creating more content and expanding to new social media channels.\u201d
\nThe post The Linz Shop Aims to Stand Out From D2C Herd With Its Heritage, Storytelling appeared first on PYMNTS.com.
\n", "content_text": "Company officials at The Linz Shop hope to redefine premium beef delivery by leveraging their history and storytelling. As a fourth-generation family-owned business, the company is transforming its story into a direct-to-consumer powerhouse.\nBy integrating its historical roots with modern eCommerce strategies, The Linz Shop is making a name for itself beyond the restaurant industry \u2014 among its clients is Shula\u2019s Steak House \u2014 aiming to become a staple in households across the nation.\nAs the direct-to-consumer (D2C) arm of Meats By Linz of Hammond, Indiana, The Linz Shop looks to build an enduring brand identity. \nBreaking From the Herd\nIn an interview with PYMNTS, Kevin Sullivan, director of eCommerce for Meats By Linz and Linz Heritage Angus, said the company\u2019s backstory differentiates itself in a crowded marketplace.\n\u201cHeritage and storytelling are cornerstones of The Linz Shop,\u201d he explained. \u201cWhile 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. \n\u201cThrough our storytelling and partnerships with top-tier restaurants, we establish a strong connection with our customers, sharing with them the ultimate steak-eating experience.\u201d\nCommunicating the quality and consistency of Linz Heritage Angus beef is central to The Linz Shop\u2019s strategy, he said.\nFood Chain Transparency\nAccording to the company\u2019s website, Conception to Plate is what Linz Heritage Angus is all about, and it differentiates its steaks from all others. Conception to Plate means \u201cfull control from the source, all the way to your kitchen. It\u2019s knowing where your beef comes from and the only way to produce truly consistent beef. It\u2019s 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.\u201d\nAdditionally, Sullivan pointed to Conception to Plate as a key attraction for consumers.\n\u201cThe Linz Shop is successfully navigating the challenges of a lackluster economy and rising inflation thanks to its unique Conception to Plate approach,\u201d he explained. \u201cBy cutting out the middleman, we remain competitive while delivering the world\u2019s finest steaks. To elevate your at-home steakhouse experience, we\u2019ve also introduced a curated selection of soups, sides and desserts crafted by our renowned restaurant partners.\u201d\nTapping Tech to Reach Consumers\nThe company\u2019s 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.\n\u201cWe\u2019ve made shopping at The Linz Shop even easier and more rewarding,\u201d Sullivan added. \u201cTo 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. \n\u201cAdditionally, 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\u2019ll be adding a new chatbot feature as well as a subscription service.\u201d\nWhen redesigning The Linz Shop, Sullivan said the top priority was addressing customer pain points. \n\u201cOur new site is fully mobile responsive, ensuring a seamless experience for customers on both mobile and tablet devices,\u201d he explained. \u201cThe addition of more payment methods has streamlined the checkout process, making it faster and more convenient.\u201d \nOn the product side, Sullivan said, \u201cWe\u2019ve focused on creating more value and offering better deals for our customers. We\u2019ve 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.\u201d \nDue to its efforts in recent years, the company earned first place in the emerging brand category at last month\u2019s\u00a02024 Big Customer Awards presentation.\nWhile the economy has impacted consumer spending \u2014 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 \u2014 PYMNTS data shows more consumers were treating themselves with food and experiences.\u00a0 \nLooking Ahead\nWhat does the future hold for The Linz Shop?\n\u201cWe plan to continue expanding and enhancing The Linz Shop experience,\u201d Sullivan added. \u201cWe\u2019ll be adding top-tier steak cuts based on what our restaurant partners are serving, and we\u2019re exploring opportunities to expand outside the U.S. We\u2019re collaborating with our chefs and restaurant partners to enhance our recipe content and cooking tips. \n\u201cTo broaden our brand\u2019s reach, we\u2019re partnering with influencers to connect with new demographics. With our new test kitchen, we\u2019ll be creating more content and expanding to new social media channels.\u201d\nThe post The Linz Shop Aims to Stand Out From D2C Herd With Its Heritage, Storytelling appeared first on PYMNTS.com.", "date_published": "2024-09-17T18:44:42-04:00", "date_modified": "2024-09-17T18:44:42-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/Linz-Steak.jpg", "tags": [ "Bigcommerce", "Conception to Plate", "customer engagement", "customer experience", "D2C", "direct-to-consumer", "eCommerce", "Kevin Sullivan", "Linz Heritage Angus", "Meats By Linz", "News", "PYMNTS News", "Retail", "The Linz Shop" ] }, { "id": "https://www.pymnts.com/?p=2098423", "url": "https://www.pymnts.com/news/ecommerce/2024/headless-commerce-will-power-the-heart-of-future-online-experiences/", "title": "Headless Commerce Will Power the Heart of Future Online Experiences\u00a0", "content_html": "The digital commerce landscape is far from static. Within it, a new paradigm known as \u201cheadless commerce\u201d is gaining significant traction.
\nBut what, exactly, is headless commerce?
\nAs Andrew Gordon, eCommerce payments strategist at Discover\u00ae 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.
\nIn 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.
\n\u201cHeadless commerce is about separating the customer-facing elements \u2014 the look and feel of a website \u2014 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,\u201d Gordon said.
\nThis 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.
\nAnd 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.
\nWhile 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.
\nAmong 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.
\nFor 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.
\nAdditionally, 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 \u2014 for example, a CRM, payment solutions or even shipping software \u2014 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.
\n\u201cOut-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 \u2014 be it desktop, mobile apps or kiosks \u2014 while maintaining a consistent back-end system,\u201d he said.
\nThis flexibility also extends to the integration of new technologies and customer engagement strategies.
\nFor 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.
\nThe ability to provide a consistent experience across all touchpoints is crucial in today\u2019s 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.
\n\u00a0The 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.
\n\u201cWe\u2019re 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,\u201d Gordon said.
\nHe 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.
\nAPIs 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.
\nPowered 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.
\nAnother 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.
\nThe best part? These innovations can be seamlessly integrated into the existing system without overhauling the back-end infrastructure.
\nThe post Headless Commerce Will Power the Heart of Future Online Experiences\u00a0 appeared first on PYMNTS.com.
\n", "content_text": "The digital commerce landscape is far from static. Within it, a new paradigm known as \u201cheadless commerce\u201d is gaining significant traction.\nBut what, exactly, is headless commerce?\nAs Andrew Gordon, eCommerce payments strategist at Discover\u00ae 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.\nIn 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.\n\u201cHeadless commerce is about separating the customer-facing elements \u2014 the look and feel of a website \u2014 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,\u201d Gordon said.\nThis 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.\nAnd 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.\nHeadless Commerce and the Shift From Traditional eCommerce\nWhile 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.\nAmong 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.\nFor 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.\nAdditionally, 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 \u2014 for example, a CRM, payment solutions or even shipping software \u2014 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.\n\u201cOut-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 \u2014 be it desktop, mobile apps or kiosks \u2014 while maintaining a consistent back-end system,\u201d he said.\nThis flexibility also extends to the integration of new technologies and customer engagement strategies.\nFor 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.\nThe ability to provide a consistent experience across all touchpoints is crucial in today\u2019s 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.\nFuture Trends in Headless Commerce \n\u00a0The 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.\n\u201cWe\u2019re 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,\u201d Gordon said.\nHe 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.\nAPIs 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.\nPowered 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.\nAnother 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.\nThe best part? These innovations can be seamlessly integrated into the existing system without overhauling the back-end infrastructure.\nThe post Headless Commerce Will Power the Heart of Future Online Experiences\u00a0 appeared first on PYMNTS.com.", "date_published": "2024-09-16T04:02:47-04:00", "date_modified": "2024-09-16T16:48:34-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/headless-commerce.jpg", "tags": [ "Andrew Gordon", "APIs", "customer experience", "digital transformation", "discover global network", "eCommerce", "Featured News", "headless commerce", "News", "omnichannel", "payments", "PYMNTS News", "Retail", "Social Media", "Technology" ] }, { "id": "https://www.pymnts.com/?p=2098902", "url": "https://www.pymnts.com/news/ecommerce/2024/white-house-proposes-rules-targeting-duty-free-shipments-by-ecommerce-firms/", "title": "White House Proposes New Trade Rules to Counter Chinese eCommerce Companies", "content_html": "The Biden administration said Friday (Sept. 13) that it plans to change trade rules that it said have been abused by China-founded eCommerce platforms.
\nThe administration\u2019s proposed rules changes target the de minimis exception that allows imported products to enter the United States without duties or taxes if the shipment\u2019s aggregate fair retail is $800 or less, the White House said in a Friday (Sept. 13) fact sheet.
\nThe 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.
\nThe 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.
\nU.S. Secretary of Commerce\u00a0Gina M. Raimondo said in a\u00a0statement 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.
\n\u201cWith these new actions, the Biden-Harris Administration is standing up for American consumers and cracking down on Chinese companies\u2019 efforts to undercut American workers and businesses,\u201d Raimondo said in the statement.
\nThe 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.
\nCompanies that ship direct to U.S. consumers from China, such as\u00a0Shein and\u00a0Temu, have benefited from the de minimis exception, Reuters\u00a0reported Friday. After the White House announcement, Temu owner\u00a0PDD Holdings\u2019 shares dipped 5%, per the report.
\nIt was reported in June that\u00a0Amazon 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\u00a0overseas customers.
\nThe 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.
\nThe post White House Proposes New Trade Rules to Counter Chinese eCommerce Companies appeared first on PYMNTS.com.
\n", "content_text": "The Biden administration said Friday (Sept. 13) that it plans to change trade rules that it said have been abused by China-founded eCommerce platforms.\nThe administration\u2019s proposed rules changes target the de minimis exception that allows imported products to enter the United States without duties or taxes if the shipment\u2019s aggregate fair retail is $800 or less, the White House said in a Friday (Sept. 13) fact sheet.\nThe 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.\nThe 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.\nU.S. Secretary of Commerce\u00a0Gina M. Raimondo said in a\u00a0statement 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.\n\u201cWith these new actions, the Biden-Harris Administration is standing up for American consumers and cracking down on Chinese companies\u2019 efforts to undercut American workers and businesses,\u201d Raimondo said in the statement.\nThe 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.\nCompanies that ship direct to U.S. consumers from China, such as\u00a0Shein and\u00a0Temu, have benefited from the de minimis exception, Reuters\u00a0reported Friday. After the White House announcement, Temu owner\u00a0PDD Holdings\u2019 shares dipped 5%, per the report.\nIt was reported in June that\u00a0Amazon 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\u00a0overseas customers.\nThe 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.\nThe post White House Proposes New Trade Rules to Counter Chinese eCommerce Companies appeared first on PYMNTS.com.", "date_published": "2024-09-13T11:21:22-04:00", "date_modified": "2024-09-15T22:19:38-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/11/White-House.jpg", "tags": [ "B2B", "B2B Payments", "Biden administration", "commercial payments", "de minimis exception", "eCommerce", "Legislation", "News", "online shopping", "politics", "PYMNTS News", "regulations", "shein", "Shipping", "taxes", "temu", "What's Hot", "What's Hot In B2B", "white house" ] }, { "id": "https://www.pymnts.com/?p=2097213", "url": "https://www.pymnts.com/news/ecommerce/2024/etsy-offers-subscribers-free-shipping-while-aiming-for-tremendous-growth/", "title": "Etsy Offers Subscribers Free Shipping While Aiming for \u2018Tremendous\u2019 Growth", "content_html": "Etsy\u00a0is reportedly aiming\u00a0for \u201ctremendous\u201d growth opportunities by deploying free shipping and other new initiatives.
\nCEO\u00a0Josh Silverman and Chief Financial Officer\u00a0Rachel Glaser said at a conference that Etsy seeks to distinguish itself from rivals like\u00a0Amazon, Seeking Alpha\u00a0reported Tuesday (Sept. 10).
\nOne of the company\u2019s recently launched initiatives is\u00a0Etsy Insider, a paid subscription that will provide free shipping to members, according to the report.
\nOther new efforts include an\u00a0Etsy 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\u00a0quality score that gives higher rated products a better position in search results, per the report.
\nSilverman said during a July 31 earnings call that Etsy\u2019s new\u00a0loyalty program is designed to drive greater spending and frequency among consumers who demand to be rewarded for their purchases.
\n\u201cWe\u2019ve focused on developing key benefits for buyers that highlight both the emotional and the rational characteristics of Etsy\u2019s unique value proposition,\u201d Silverman said. \u201c… 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\u2019ll\u00a0test, learn and iterate, and are optimistic that over time, Etsy Insider can be a needle mover, driver of buyer frequency and Etsy love.\u201d
\nEtsy\u2019s recent efforts to enhance its\u00a0search and discovery tools are designed to incorporate listing quality into their visibility on the platform, Etsy Chief Product Officer\u00a0Nick Daniel told PYMNTS in an interview posted Friday (Sept. 6).
\n\u201cWhen shoppers are searching on Etsy, it\u2019s important that they can easily find high-quality listings from shops that have a track record of good customer service,\u201d Daniel said. \u201cMaking these listings easier to find helps build trust with shoppers so they come back to shop on Etsy again and again.\u201d
\nWhen launching Gift Mode in January, Etsy said this feature is designed to position the platform as \u201cthe destination for gifting\u201d and to increase the share of shoppers who think of Etsy as a place for\u00a0gifts.
\nThe post Etsy Offers Subscribers Free Shipping While Aiming for \u2018Tremendous\u2019 Growth appeared first on PYMNTS.com.
\n", "content_text": "Etsy\u00a0is reportedly aiming\u00a0for \u201ctremendous\u201d growth opportunities by deploying free shipping and other new initiatives.\nCEO\u00a0Josh Silverman and Chief Financial Officer\u00a0Rachel Glaser said at a conference that Etsy seeks to distinguish itself from rivals like\u00a0Amazon, Seeking Alpha\u00a0reported Tuesday (Sept. 10).\nOne of the company\u2019s recently launched initiatives is\u00a0Etsy Insider, a paid subscription that will provide free shipping to members, according to the report.\nOther new efforts include an\u00a0Etsy 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\u00a0quality score that gives higher rated products a better position in search results, per the report.\nSilverman said during a July 31 earnings call that Etsy\u2019s new\u00a0loyalty program is designed to drive greater spending and frequency among consumers who demand to be rewarded for their purchases.\n\u201cWe\u2019ve focused on developing key benefits for buyers that highlight both the emotional and the rational characteristics of Etsy\u2019s unique value proposition,\u201d Silverman said. \u201c… 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\u2019ll\u00a0test, learn and iterate, and are optimistic that over time, Etsy Insider can be a needle mover, driver of buyer frequency and Etsy love.\u201d\nEtsy\u2019s recent efforts to enhance its\u00a0search and discovery tools are designed to incorporate listing quality into their visibility on the platform, Etsy Chief Product Officer\u00a0Nick Daniel told PYMNTS in an interview posted Friday (Sept. 6).\n\u201cWhen shoppers are searching on Etsy, it\u2019s important that they can easily find high-quality listings from shops that have a track record of good customer service,\u201d Daniel said. \u201cMaking these listings easier to find helps build trust with shoppers so they come back to shop on Etsy again and again.\u201d\nWhen launching Gift Mode in January, Etsy said this feature is designed to position the platform as \u201cthe destination for gifting\u201d and to increase the share of shoppers who think of Etsy as a place for\u00a0gifts.\nThe post Etsy Offers Subscribers Free Shipping While Aiming for \u2018Tremendous\u2019 Growth appeared first on PYMNTS.com.", "date_published": "2024-09-10T19:04:57-04:00", "date_modified": "2024-09-10T19:04:57-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "tags": [ "creator economy", "delivery", "eCommerce", "Etsy", "free shipping", "News", "PYMNTS News", "Retail", "Shipping", "subscription commerce", "subscriptions", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2095262", "url": "https://www.pymnts.com/news/ecommerce/2024/etsys-new-search-tools-aim-to-elevate-quality-listings-and-enhance-seller-success/", "title": "Etsy\u2019s New Search Tools Aim to Elevate Quality Listings and Enhance Seller Success", "content_html": "As the digital marketplace grows, Etsy has been enhancing its search and discovery tools to spotlight high-quality listings. With 100 million items available, Etsy focuses on featuring its best offerings from its sellers to buyers.
\nIn an interview with PYMNTS, Nick Daniel, Etsy\u2019s chief product officer, explains the company\u2019s recent efforts are designed to incorporate listing quality into their visibility on the platform.
\n\u201cSince earlier this year, we\u2019ve been working on new ways to incorporate the quality of a listing into where it shows up on Etsy \u2014 in places like search and recommendations,\u201d Daniel said, noting factors such as listing details, photo quality and customer service records.
\nDaniel emphasized Etsy\u2019s commitment to enhancing the browsing experience
\n\u201cWe are optimizing our search results to showcase a broader range of items from more sellers,\u201d he said. \u201cWe 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\u2019t know exactly what they\u2019re looking for and want to browse a wider set of options in various styles.\u201d
\nThis diversification strategy has opened new opportunities for sellers, as Daniel noted, \u201cserving up a broader array of listings has led to approximately 70% of shops on Etsy having more visibility in search.\u201d
\nAccording to Daniel, the refinement of search algorithms involves a range of factors to determine where listings appear.
\n\u201cWhen shoppers are searching on Etsy, it\u2019s important that they can easily find high-quality listings from shops that have a track record of good customer service,\u201d he explained. \u201cMaking these listings easier to find helps build trust with shoppers so they come back to shop on Etsy again and again.\u201d
\nPositive trends have emerged since the implementation of these updates.
\n\u201cWe\u2019ve 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,\u201d Daniel said.
\nThe revamped search features come at a time when Etsy is looking to recoup the number of consumers shopping on the platform \u2014 its second-quarter earnings showed a dip in sales as retail spending continues to navigate the uncertain economy.
\nConsumers, 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.
\nEnhancing the search experience for consumers and providing tools to sellers to better craft listings may help Etsy reach those shoppers.
\nDaniel said the introduction of the Etsy Search Visibility Page was a key development designed to enhance transparency for sellers.
\n\u201cWe\u2019re 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,\u201d he said. \u201cWe\u2019ve 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.\u201d
\nThe 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.
\nThe page is intended to empower sellers with the tools needed to enhance their listings and, by extension, their search visibility.
\n\u201cAs sellers make changes to their listings, they\u2019ll have the ability to track improvements in real time,\u201d Daniel said. This feature aims to facilitate a more proactive approach to optimizing listings and improving the overall shopping experience on Etsy.
\nThe 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.
\n\u201cSellers can also keep track of daily progress on the customer service stats page,\u201d Daniel said. \u201cConsistently 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.\u201d
\nThe post Etsy\u2019s New Search Tools Aim to Elevate Quality Listings and Enhance Seller Success appeared first on PYMNTS.com.
\n", "content_text": "As the digital marketplace grows, Etsy has been enhancing its search and discovery tools to spotlight high-quality listings. With 100 million items available, Etsy focuses on featuring its best offerings from its sellers to buyers.\nIn an interview with PYMNTS, Nick Daniel, Etsy\u2019s chief product officer, explains the company\u2019s recent efforts are designed to incorporate listing quality into their visibility on the platform.\n\u201cSince earlier this year, we\u2019ve been working on new ways to incorporate the quality of a listing into where it shows up on Etsy \u2014 in places like search and recommendations,\u201d Daniel said, noting factors such as listing details, photo quality and customer service records.\nRamping Up the Consumer Experience\nDaniel emphasized Etsy\u2019s commitment to enhancing the browsing experience\n\u201cWe are optimizing our search results to showcase a broader range of items from more sellers,\u201d he said. \u201cWe 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\u2019t know exactly what they\u2019re looking for and want to browse a wider set of options in various styles.\u201d\nThis diversification strategy has opened new opportunities for sellers, as Daniel noted, \u201cserving up a broader array of listings has led to approximately 70% of shops on Etsy having more visibility in search.\u201d\nAccording to Daniel, the refinement of search algorithms involves a range of factors to determine where listings appear.\n\u201cWhen shoppers are searching on Etsy, it\u2019s important that they can easily find high-quality listings from shops that have a track record of good customer service,\u201d he explained. \u201cMaking these listings easier to find helps build trust with shoppers so they come back to shop on Etsy again and again.\u201d\nPositive trends have emerged since the implementation of these updates.\n\u201cWe\u2019ve 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,\u201d Daniel said.\nThe revamped search features come at a time when Etsy is looking to recoup the number of consumers shopping on the platform \u2014 its second-quarter earnings showed a dip in sales as retail spending continues to navigate the uncertain economy.\nConsumers, 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.\nEnhancing the search experience for consumers and providing tools to sellers to better craft listings may help Etsy reach those shoppers.\nNew Seller Tools\nDaniel said the introduction of the Etsy Search Visibility Page was a key development designed to enhance transparency for sellers.\n\u201cWe\u2019re 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,\u201d he said. \u201cWe\u2019ve 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.\u201d\nThe 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.\nThe page is intended to empower sellers with the tools needed to enhance their listings and, by extension, their search visibility.\n\u201cAs sellers make changes to their listings, they\u2019ll have the ability to track improvements in real time,\u201d Daniel said. This feature aims to facilitate a more proactive approach to optimizing listings and improving the overall shopping experience on Etsy.\nThe 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.\n\u201cSellers can also keep track of daily progress on the customer service stats page,\u201d Daniel said. \u201cConsistently 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.\u201d\nThe post Etsy\u2019s New Search Tools Aim to Elevate Quality Listings and Enhance Seller Success appeared first on PYMNTS.com.", "date_published": "2024-09-06T13:23:49-04:00", "date_modified": "2024-09-06T13:23:49-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2022/03/Etsy.jpg", "tags": [ "Connected Economy", "digital transformation", "eCommerce", "Etsy", "News", "Nicholas Daniel", "Nick Daniel", "online shopping", "Product Discovery", "PYMNTS News", "Retail", "shopping" ] }, { "id": "https://www.pymnts.com/?p=2081132", "url": "https://www.pymnts.com/news/ecommerce/2024/walmart-teams-with-stockx-bolster-marketplace/", "title": "Walmart Teams With StockX to Bolster Marketplace", "content_html": "Walmart is reportedly teaming with sneaker seller StockX to bolster its online marketplace.
\nThe arrangement will offer shoppers access to pre-verified, coveted athletic shoes such as Nike\u2019s Air Jordan sneakers and brands like New Balance and Asics, Bloomberg reported Wednesday (Sept. 4).
\nItems will become available on Walmart\u2019s website next week, with StockX verifying and fulfilling orders, the report said.
\nMichael Mosser, vice president and category lead at Walmart Marketplace, said the partnership could expand to thousands of products, per the report.
\nShoppers \u201care looking for this full spectrum of products from Walmart,\u201d from staples to collectible items, Mosser said in the report, adding that the retailer is seeing a strong consumer appetite for in-demand sneakers.
\nThis marks StockX\u2019s 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.
\nThe collaboration comes as Walmart aims to boost its online business as it competes with Amazon.
\nLast 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.
\nIn addition, Walmart discussed plans for multichannel fulfillment, letting sellers use the company\u2019s logistics network to fulfill orders from other eCommerce sites, as well as a cross-border import service to simplify global shipping.
\nMeanwhile, Walmart\u2019s overall digital presence is expanding. The latest edition of the PYMNTS Intelligence \u201cWhole Paycheck\u201d report calculated Walmart and Amazon\u2019s market shares in various categories, finding that Walmart\u2019s digital mix nearly doubled from the start of 2020 to the second quarter of this year, increasing from 9% to 16%. The company\u2019s eCommerce sales surged from $9.3 billion in the first quarter of 2020 to $21.8 billion in the second quarter of this year.
\n\u201cNow, it seems, the company is turning to its marketplace to take that growth to the next level,\u201d PYMNTS wrote. \u201cAmazon\u2019s 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\u2019 retail spending compared to Walmart\u2019s 7.5%.\u201d
\nThe post Walmart Teams With StockX to Bolster Marketplace appeared first on PYMNTS.com.
\n", "content_text": "Walmart is reportedly teaming with sneaker seller StockX to bolster its online marketplace.\nThe arrangement will offer shoppers access to pre-verified, coveted athletic shoes such as Nike\u2019s Air Jordan sneakers and brands like New Balance and Asics, Bloomberg reported Wednesday (Sept. 4).\nItems will become available on Walmart\u2019s website next week, with StockX verifying and fulfilling orders, the report said.\nMichael Mosser, vice president and category lead at Walmart Marketplace, said the partnership could expand to thousands of products, per the report.\nShoppers \u201care looking for this full spectrum of products from Walmart,\u201d from staples to collectible items, Mosser said in the report, adding that the retailer is seeing a strong consumer appetite for in-demand sneakers.\nThis marks StockX\u2019s 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.\nThe collaboration comes as Walmart aims to boost its online business as it competes with Amazon.\nLast 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.\nIn addition, Walmart discussed plans for multichannel fulfillment, letting sellers use the company\u2019s logistics network to fulfill orders from other eCommerce sites, as well as a cross-border import service to simplify global shipping.\nMeanwhile, Walmart\u2019s overall digital presence is expanding. The latest edition of the PYMNTS Intelligence \u201cWhole Paycheck\u201d report calculated Walmart and Amazon\u2019s market shares in various categories, finding that Walmart\u2019s digital mix nearly doubled from the start of 2020 to the second quarter of this year, increasing from 9% to 16%. The company\u2019s eCommerce sales surged from $9.3 billion in the first quarter of 2020 to $21.8 billion in the second quarter of this year.\n\u201cNow, it seems, the company is turning to its marketplace to take that growth to the next level,\u201d PYMNTS wrote. \u201cAmazon\u2019s 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\u2019 retail spending compared to Walmart\u2019s 7.5%.\u201d\nThe post Walmart Teams With StockX to Bolster Marketplace appeared first on PYMNTS.com.", "date_published": "2024-09-04T12:50:03-04:00", "date_modified": "2024-09-04T12:50:03-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/02/Walmart-eCommerce.jpg", "tags": [ "eCommerce", "News", "partnerships", "PYMNTS News", "Retail", "StockX", "walmart", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2078873", "url": "https://www.pymnts.com/news/ecommerce/2024/temu-parent-accumulates-38-billion-cash-stockpile/", "title": "Temu Parent Accumulates $38 Billion Cash Stockpile", "content_html": "PDD Holdings, owner of eCommerce firm Temu, is reportedly sitting on $38 billion in cash.
\nThat\u2019s the largest cash position of any listed company that doesn\u2019t 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.
\nPDD\u2019s stockpile is more than twice the size of the second-closest contender, car company Tesla, the report added. PDD\u2019s value soared when it expanded beyond China, the FT said, though some investors consider its \u201choarding\u201d of cash a red flag.
\nLast week, PDD released quarterly earnings showing an 86% jump in revenue and a 156% increase in profits, but also sounded a note of caution.
\n\u201cWhile encouraged by the solid progress we made in the past few quarters, we see many challenges ahead,\u201d PDD Chairman and CEO Lei Chen said in a news release.\u00a0
\n\u201cWe are committed to transitioning toward high-quality development and fostering sustainable ecosystem. We will invest heavily in the platform\u2019s 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.\u201d
\nPDD\u2019s share price dropped 31% following that warning and its statement that it was ruling out dividends or buybacks \u201cfor the foreseeable future.\u201d
\nAccording 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.
\nThe FT report noted that most of the world\u2019s larger companies pay dividends or buy back shares. MSCI\u2019s 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.
\nJust 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.
\nThis 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.
\nMeanwhile, Temu\u2019s 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\u2019 designs and blocks them from pulling products from the platform, even in instances in which the seller admits to infringement.
\nTemu responded by criticizing the \u201caudacity\u201d of Shein\u2019s litigation, noting that its competitor had faced a \u201cmountain\u201d of similar lawsuits.
\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
\nThe post Temu Parent Accumulates $38 Billion Cash Stockpile appeared first on PYMNTS.com.
\n", "content_text": "PDD Holdings, owner of eCommerce firm Temu, is reportedly sitting on $38 billion in cash.\nThat\u2019s the largest cash position of any listed company that doesn\u2019t 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.\nPDD\u2019s stockpile is more than twice the size of the second-closest contender, car company Tesla, the report added. PDD\u2019s value soared when it expanded beyond China, the FT said, though some investors consider its \u201choarding\u201d of cash a red flag.\nLast week, PDD released quarterly earnings showing an 86% jump in revenue and a 156% increase in profits, but also sounded a note of caution.\n\u201cWhile encouraged by the solid progress we made in the past few quarters, we see many challenges ahead,\u201d PDD Chairman and CEO Lei Chen said in a news release.\u00a0\n\u201cWe are committed to transitioning toward high-quality development and fostering sustainable ecosystem. We will invest heavily in the platform\u2019s 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.\u201d\nPDD\u2019s share price dropped 31% following that warning and its statement that it was ruling out dividends or buybacks \u201cfor the foreseeable future.\u201d\nAccording 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.\nThe FT report noted that most of the world\u2019s larger companies pay dividends or buy back shares. MSCI\u2019s 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.\nJust 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.\nThis 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.\nMeanwhile, Temu\u2019s 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\u2019 designs and blocks them from pulling products from the platform, even in instances in which the seller admits to infringement.\nTemu responded by criticizing the \u201caudacity\u201d of Shein\u2019s litigation, noting that its competitor had faced a \u201cmountain\u201d of similar lawsuits.\nFor all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.\nThe post Temu Parent Accumulates $38 Billion Cash Stockpile appeared first on PYMNTS.com.", "date_published": "2024-09-01T19:26:22-04:00", "date_modified": "2024-09-01T19:30:03-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/Temu-PDD-Holdings.jpg", "tags": [ "china", "Chinese eCommerce", "dividends", "eCommerce", "Lei Chen", "News", "PDD", "PDD Holdings", "PYMNTS News", "Retail", "share buy backs", "temu", "What's Hot" ] } ] }