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Discover the pulse of ecommerce: fresh takes on industry news, updates, and cutting-edge product launches in July 2024.
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Discover the pulse of ecommerce: fresh takes on industry news, updates, and cutting-edge product launches.
Stay in the loop with the latest developments in e-commerce and omnichannel businesses. This roundup highlights a range of updates, from advancements in generative AI assistants, inventory management solutions, and live streaming capabilities to marketplace enhancements and international shipping innovations.
We intend to maintain this post as a regularly updated resource.
→ Google has launched the Merchant API Beta: Merchant API Beta is an update to the Content API for Shopping in Google Merchant Center. This release introduces new features for showcasing products, modular design for sub-API updates, and better alignment with Google’s API improvement goals. It supports multiple API feeds, enhanced management of supplemental feeds, and integrates with various shopping feeds, including promotions.
→ Klarna collaborates with Adobe Commerce to offer flexible payment solutions: This partnership enables merchants to offer Klarna’s buy-now-pay-later (BNPL) service along with direct payments, pay-after-delivery, and installment plans. Adobe Commerce reports significant consumer adoption of BNPL services, noting an over 11% growth in 2024 according to Adobe Analytics.
→ Amazon plans to introduce a discount marketplace: This new section will showcase items primarily priced under $20 and sourced directly from China-based sellers. Amazon plans for swift delivery, aiming to get products to U.S. consumers within nine to 11 days after shipping from China.
→ Walmart Marketplace supports the sale of pre-owned collectibles: Walmart Marketplace is assisting sellers in listing used collectibles without incurring referral fees until September 30, 2024, while offering additional benefits. Sellers can showcase the condition of collectibles using a new grading system. They can also generate excitement for upcoming product releases by offering pre-orders.
→ Target collaborates with Shopify to onboard third-party sellers onto its marketplace: Shopify assists Target in discovering new brands and popular products, making them accessible to Target’s online shoppers. Target intends to stock select popular items found through Shopify in its physical stores. Unlike Amazon, Walmart, and eBay, Target’s marketplace is invitation-only for brands, which has contributed to doubling its seller and product count over the past year, totaling more than 1,200 sellers.
→ Shopify incorporates AI throughout its platform: Shopify integrates AI across its platform with new features unveiled at its semi-annual showcase, Shopify Editions. Updates include an AI tool for personalized email replies, Magic—an AI-powered media editor offering intelligent product recommendations and attributes, and expanded AI image editing across Shopify, including its mobile app.
→ Visa partners with Amazon to enhance payment options for Canadian shoppers: Visa has teamed up with Amazon to offer eligible RBC and Scotiabank credit cardholders on Amazon.ca and the Amazon app the option to use “Installments enabled by Visa” at checkout. This feature allows consumers to split their purchases into smaller, fixed payments over a specified period.
→ Mollie and Riverty collaborate on buy-now-pay-later (BNPL) invoicing: Mollie, a European financial service provider, has partnered with Riverty, supported by Bertelsmann, to offer customers the option to pay later — up to 30 days. Riverty’s BNPL solution is seamlessly integrated into Mollie’s platform, accessible via the Mollie dashboard. Available initially in Belgium, Germany, Austria, and the Netherlands, Mollie now supports over 30 different payment methods.
→ ShipStation has launched new features in Australia: Updates include inventory sync, deliver-by dates, harmonization code import, checkout rate control, custom labels, GlobalPost Carrier integration, and an add-on marketplace. They’ve also introduced a High Volume Plan for large-scale parcel delivery in Australia and New Zealand.
→ eBay introduces a new cash advance service for its sellers: The Business Cash Advance, powered by Liberis, a worldwide embedded finance platform, provides eligible U.S. eBay sellers with up to $1 million in working capital in as little as 24 hours. This service boasts flexible payment schedules that align with the seller’s sales cycle, with no minimum payment requirements or early payment penalties.
→ Amazon’s AI Assistant Rufus Now Available in the U.S.: Amazon’s AI-powered shopping assistant, Rufus, is now available to all U.S. customers via the Amazon Shopping app. Rufus helps shoppers with product details, recommendations, comparisons, and more, making informed shopping easier.
→ Etsy Launches New Creativity Standards: Etsy’s new Creativity Standards highlight sellers’ unique work. Listings now show Made by, Handpicked by, or Designed by ShopName. Sellers can also share more details about their processes, materials, and tools.
→ TikTok Shop U.K. Launches £1 Million Club to Boost Brands and SMBs: Million Club is a programme aimed at helping new merchants achieve £1 million in revenue. This initiative offers several benefits, including 90 days of 0% commission on sales, free storage and fulfillment through Fulfilled by TikTok, and priority seller support. TikTok Shop will also provide dedicated promotional support to assist merchants in reaching their revenue goals.
→ WP Engine has announced its acquisition of NitroPack: NitroPack – comprehensive SaaS solution designed to enhance website speed and performance metrics, such as Google’s Core Web Vitals. This latest acquisition will bolster WP Engine’s ability to deliver cutting-edge performance solutions, giving customers advanced tools and greater flexibility for optimizing their websites.
→ Salesforce has introduced the Einstein Service Agent, its first fully autonomous AI agent: Unlike traditional chatbots, it uses generative AI to deliver personalized responses based on a company’s data and brand guidelines. Currently in pilot and set for a broader release later this year, it features easy setup with intuitive interfaces, pre-built templates, and low-code workflows.
→ Loop and ReBound have teamed up to enhance returns management: Retailers on the Loop platform can now use ReBound’s omnichannel returns services, which include global logistics, local processing, and consolidation. This integration is designed to boost margins, improve customer service, and enhance retention for retailers.
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