Ecommerce is changing everyday, and sometimes by the minute. So many new ideas and developments everyday, becomes hard to keep track.
We bring to you a curated digest of ecommerce developments/happenings around the world, compiled from various publications across the Internet.
Ecommerce sales grew by 13% in July, compared to the same time last year, the Office for National Statistics estimates today. Overall, they accounted for 12.6% of all retail sales, with an average £821.m spent online each week, according to the ONS Retail Sales report for July. Last July, ecommerce sales accounted for 11.4% of all retail spending. Overall, UK shoppers spent an average £7.1bn a week on retail transactions during the month, spending 1% more than at the same time last year but buying 4.2% more in quantity.
Following its spin off from eBay, digital payments giant PayPal announced yesterday that it was purchasing Modest, a Chicago start-up that builds mobile e-commerce applications for small businesses. Details of the agreement have not been disclosed, but the acquisition will see all 20 Modest employees join PayPal’s Braintree subsidiary in Chicago. Modest was started by Harper Reed and Dylan Richard. Reed is known for being the Chief Technology Officer for President Obama’s 2012 re-election campaign, and Richard was the lead engineer for the campaign.
Wal-Mart Stores Inc. says its heavy investment in e-commerce infrastructure is paying off, with online sales growing by double-digit percentages, but that it hit a rough patch in international online sales and that the spending is weighing on its earnings. The retail giant, No. 3 in the Internet Retailer 2015 Top 500 Guide, said Tuesday its global online sales, excluding the impact of the strengthening dollar, grew 16% in the second quarter.
When Janet Wang joined Alibaba’s business-to-consumer website Tmall.com five years ago, few foreign brands had storefronts on the online marketplace. The platform was still young, and Alibaba Group Holding Ltd. was known mostly for its eBay-like Taobao site, a huge bazaar of independent sellers hawking mostly inexpensive wares. Flash forward to 2015, and Alibaba is a U.S.-listed behemoth with 350 million annual shoppers in the world’s largest e-commerce market. A few thousand foreign brands sell their products on Tmall, which has become the natural first stop for any brand doing e-commerce in China.
Retailers and online merchants generally set return policies based on the type of goods they sell, but when selling on eBay and Amazon, merchants must adhere to one-size-fits-all policies with few exceptions.eBay revealed it will be changing its returns process and will have more to say about it at its upcoming seller summit being held in San Jose next month. The company announced the new eBay Seller Summit in July, and in an updated program guide now available online, it tells would-be attendees, “Find out how we’re streamlining the returns process to make it easier for you and your buyers.”