Category: News

Is free shipping more important than same-day delivery?

For retailers planning for 2024, here’s a crucial insight from a recent Forrester survey: customers value free shipping more than same-day delivery. This finding suggests a shift in focus for online retail strategies. Instead of investing heavily in fast delivery, offering free shipping could be a smarter move. It’s a simple yet effective change that aligns with what consumers want, potentially reshaping retail logistics in the year ahead.

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IRS News: $600 threshold for 2023 is now postponed

Big news for anyone dealing with third-party platform payments: The IRS has announced a delay in implementing the new $600 Form 1099-K reporting threshold for 2023. Instead, they plan to phase in a higher threshold of $5,000 starting in 2024. This follows the decision to maintain the existing $20,000/200 transaction threshold for the 2022 tax year, which will now continue through 2023 as well.​

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The Underrated Power of Customer Reviews

A Stackline report unveils that only 0.2% of shoppers leave reviews despite their vital role in purchase decisions. The value of a five-star review can be substantial, significantly boosting visitor traffic and conversion rates. This highlights the importance of customer feedback in the online marketplace and indicates a need for brands to encourage reviews.

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11 Retailers Facing Elevated Bankruptcy Risk in 2023

The first nine months of 2023 witnessed notable retailers like David’s Bridal and Bed Bath & Beyond filing for bankruptcy, with more possibly following suit. This uptick is due to rising operational costs and looming economic uncertainties. High debt levels further exacerbate the situation for retailers, with 11 of them, including Farfetch, Joann, Rite Aid, Big Lots, Kirkland’s, and Petco showing significant bankruptcy risk.

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