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1. Amazon Go accepts cash in this storeThe Amazon Go store that opened in New York City Tuesday is the first Go store that will accept good old cash. At its other shops, customers can only enter with an app that links to a credit card or an Amazon account. The company, facing a backlash from those who believe cashless stores discriminate against the poor, confirmed last month that it was working on a way to accept dollar bills and coins.
2. E-commerce returns up 8% in EuropeE-commerce returns in Europe during the first four months of 2019 are up 8% compared to the same period last year. According to DynamicAction, this shows a “growing trend from consumers to buy multiple products online with the intent of returning some items”. During the same period, retailers have seen an uptick in marketing costs and a drop in new customer acquisition.
3. H&M discontinues catalog businessAs the shift of consumers towards online shopping continues, H&M has decided to shut down its ‘irrelevant’ catalog business in order to appeal and cater to the modern shopper. The catalog dates back to the Swedish mail order business Rowells, which was acquired by H&M in 1980 and was still being published in six of its 72 markets.
4. Net-a-Porter partners with DTCsNet-a-Porter hasannounced a partnership with seven direct-to-consumer brandswith cult followings. Reformation, Doen, Line By K (which launched in the last few weeks), Franke Shop, Maison Cleo, Harmur and Art Dealer, will all go live on the site in the next few weeks. This partnership will reportedly put the DTC brands in the eyes of a luxury-fashion-savvy audience they didn’t have access to before.
5. Groupon to diversifyAs daily deals and flash sale sites lose their charm, Groupon, is reportedly looking to shed that reputation to become a platform where consumers can not only buy tickets, order food, find out about experiences brands have to offer and gain rewards for repeat purchases. "
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RT @RangaEunny: Until recently the Amazon and Shopify systems were separate and distinct groups of entrepreneurs. But they have started to…
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