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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Uber Connect now offers a “Return a Package” feature, allowing users to easily have couriers pick up and return their prepaid packages in over 4,950 U.S. cities.
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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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The holidays are fast approaching, and big brands like Amazon, Walmart, Target, and Best Buy have announced their deal dates. If you’re a seller, these are important days to note and get ready to promote your products.
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Visa and Mastercard are set to raise the interchange fees on credit card transactions. As reported by the Wall Street Journal, these hikes, particularly affecting online purchases, are scheduled to commence in October and April.
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Persistent drought conditions in the Panama Canal have led to severe drought restrictions, causing shipping delays and additional transit surcharges. The Evergreen ship had to offload 1,400 containers to navigate the canal. These challenges may force US importers and sellers to reevaluate their shipping strategies.
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In a significant move, online-only retailer Overstock has officially rebranded as Bed Bath & Beyond, following its recent purchase of Bed Bath & Beyond’s intellectual property. This merger marks a transformational moment, consolidating both companies into a single online shopping destination under the renowned Bed Bath & Beyond name. While Overstock’s acquisition did not include physical stores, the newly formed Bed Bath & Beyond remains an online-only retailer.
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Contract negotiations between UPS and the Teamsters union have recently stalled, raising the possibility of a UPS strike in early August. If such a strike takes place, it will disrupt package deliveries nationwide.
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TikTok is expanding its reach beyond viral content into e-commerce, planning to launch its own online retail store in the U.S. as soon as next month. This new venture will differ from the existing TikTok Shop feature, with the company handling everything from purchasing inventory to logistics and customer service, mainly for items sourced from China.
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