Facebook enter commerce with ‘shops’ to bring millions of small businesses online

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Facebook is bringing 160 million small businesses online to help them survive the coronavirus pandemic.

Shops starts rolling out today.

In a significant push for ecommerce and social commerce, Facebook is launching Shops to bring online millions of small businesses that have been struggling due to the ongoing coronavirus pandemic.

Shops, which enables businesses to set up free stores and live shopping tabs on Facebook and Instagram, is the tech giant’s attempt to restart the global economy by enabling commerce. “If you can’t physically open your store or restaurant, you can still take orders online and ship them to people,” Facebook CEO Mark Zuckerberg explained in a live stream.

“We’re seeing a lot of small businesses that never had online businesses get online for the first time,” he added.

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What Honeywell’s Ecommerce platform means for blockchain in aviation

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Honeywell recently announced the launch of its online buying and selling platform for new and used aircraft parts. Not only are online transactions in this space extremely rare, but Honeywell is also doing something even more uncommon: using blockchain technology. According to Lisa Butters, who leads the Honeywell Aerospace venture, “Currently, less than 2.5 percent of all transactions in this space are done online.” She continues: “We are the first marketplace to enable customized seller storefronts, and we are the first to leverage blockchain technology to build trust between the buyer and seller.”

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Taobao leads the charge in a new ecommerce trend: livestreamed shopping

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She’s not your ordinary jewelry dealer. Going by the online moniker “Xiaotian,” she commands a big fan base, jokes with her customers, and models for her own business.

“Hi bao bao,” she greets her potential buyers during a livestream session one afternoon in Hong Kong, using a common, endearing nickname for online shoppers. “This is a new design that came out this week. You want me to try it on? Alright!”

Comments piled on. Some complimented the good looks of the designer who stood beside her. Others wanted to see the necklace up close. Still, others asked about the price.

That the Chinese are shopping on the internet in droves is not news. But a new trend is emerging among sellers on ecommerce platforms: they’re ditching old marketing playbooks and are turning to more personal interactions instead.

Taobao is at the forefront of that effort. Already, the Chinese equivalent of Amazon has legions of daigou agents: Chinese expats who buy foreign brands for their compatriots back home.

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Chatbots are losing steam, think instead about workbots

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It’s no secret that chatbots are growing in popularity. From Facebook’s ecommerce bots for consumers to a plethora of customer service tools that now rely on chatbots to interface with customers, it’s clear that consumer chatbots have hit mainstream. Even Apple is expanding its commitment to chat technology with the release of Business Chat at a recent WWDC, allowing consumers to interact with businesses through iMessage.

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Global luxury goods ecommerce market rises by 25%

Luxury goods ecommerce soars.

The worldwide appetite for luxury goods doesn’t seem to have been slowed down by concerns about the state of the global economy, according to research released by business consulting firm Bain & Company in October 2012. In fact, total demand for luxury goods has remained very strong, with worldwide revenues estimated to have grown 10% in 2012.

 

 

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The future of innovation is in ideas, not products

The new generation of innovators knows that the greatest innovations are the ones you can’t see.

In Asia, there is a shift underway of self-made entrepreneurs.  In the past 50 years, Asian commerce was dominated by larger-than-life conglomerate builders gathering assets under unofficial government protection. But this is changing. A new generation of entrepreneurs is emerging, outthinking the old guard.

 

 

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How Millennials shop and spend in America

16 to 34 year olds are more likely to wield a smartphone or other mobile device as a shopping companion.

We all know that young people like to shop. All before the responsibilities of having a family set in,  in the relatively care-free years of high school and college, young people tend to throw their pennies into blouses, jeans and other must-have accessories. (Infographic)

 

 

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TV remains the greatest influence on purchase decisions

TV remains top tops for influencing purchase decisions.

Most consumer commerce transactions still take place offline, in physical stores, yet ecommerce makes deeper inroads every year. Similarly, the majority of online purchases still occur on the desktop, but smartphone and tablet commerce are assuming greater prominence.

 

 

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Cyber Monday will remain biggest ecommerce day of the year

41% of US consumers planned to shop on Black Friday this year.

Holiday promotions by retailers are earlier and earlier every year.  The buzz has moved progressively from “Cyber Monday” to Black Friday and finally to Thanksgiving Day itself, with reports of mass merchants beginning their sales in the middle of what is for many still an important family holiday.

 

 

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