Digital and e-commerce news - August 2022
During my holidays I did not stop to have a look at what was happening in the tech and digital world. So, here you can find a full and crispy selection of news collected in August. Have a good read!
Amazon is testing a TikTok-like vertical video feed.
Credits: Watchful via Wall Street Journal
According to internal sources, Amazon is testing a new vertical feed with products’ photos and videos. From this TikTok-like experience, users can instantly like, share, and buy what they see. It is not the first time that tech giants (Google, Meta, Amazon) are trying to capitalize on the tremendous success that TikTok has.
Read more here.
Big retailers expand their online shopping service while q-commerce startups are struggling.
During and after the pandemic, grocery delivery services exploded (q-commerce is just one example) and retailers are willing to step into this trend. In Italy, for example, Esselunga introduced the new “Presto a casa” feature with three-hour delivery and a new collaboration with Deliveroo Hop (Deliveroo’s q-commerce service).
At the same time, Gorillas is pulling out from the Italian market and GoPuff, after cutting 10% of its workforce, is exiting the Spanish one.
Read about Esselunga here.
Read here about GoPuff.
Pinduoduo launched the new US website and wants to challenge Amazon.
The Chinese E-Commerce Pinduoduo has silently launched its US website called Temu. Pinduoduo is Alibaba’s and JD’s most important competitor in China and this is its first expansion overseas. This move will definitely face some challenges since Temu has longer shipment times and brand reputation to be built from scratch. However, Temu could leverage on its lower prices and new selection to be imported directly from China.
Read the news here.
Instacart continues to grow with additional retail partnerships and new features.
Instacart continues its expansion outside the grocery delivery business with a new “Big & Bulky” service that allows customers to order large items with same-day or scheduled delivery. In addition, in the last months, Instacart closed two additional partnerships: Lowe (home improvement and Office Depot (with an interesting same-day delivery for school supplies).
Read more here.
Farfetch becomes YOOX’s major stakeholder with a multi-million deal.
Farfetch acquired 47,5% stake in YNAP, with around 53 and 58,5 million Farfetch shares going to Richemont, along with $250 million in cash five years after the acquisition will close. With this deal, Farfetch is becoming the leading global reseller for luxury fashion. YNAP will adopt Farfetch technology that, in this way, will expand its offer with watches and jewelry.
Read the news here.
Google is focusing on retailers and introducing new loyalty programs.
Credits: Google
In the US, Google is improving its service offering for retailers and it’s matching it with its Performance Max campaigns and other Google Ads tools. In particular, US retailers can now illustrate and advertise their loyalty programs in order to win new customers and pursue new conversion and sales goals. Finally, retailers can promote additional benefits such as deals, free shipping, loyalty points, and so on.
Read more here.
TikTok is changing the music industry.
After changing the book industry (my article about #BookTok here), with more than 1 billion users globally, TikTok is ready to disrupt also the music industry.
Indeed, TikTok viral videos are turning a lot of minor, sometimes independent songs, into global successes with millions of streamings. And labels are fighting to sign songs or artists that are going viral on the app. As an example, in 2021, more than 175 TikTok-trending songs made the Billboard Hot 100 chart.
What could be next? Well, guess what. ByteDance, TikTok’s owner, filed a trademark application for a new music service, called “TikTok Music”, allowing users play, purchase and share songs.
Read more here.
