Small businesses who pivoted to e-commerce saw record sales during Black Friday weekend

Almost one-quarter of small businesses closed their doors during the pandemic — but for the few who survived, and pivoted to online sales, Black Friday weekend provided a much-needed boost.

Over the course of the holiday season so far, small retailers have seen an average 110 percent increase in online sales, according to Adobe Analytics.

“That was pretty heartening to see,” said Vivek Pandya, a senior digital insights manager with Adobe Analytics. “There has been a lot of demand and a lot of opportunity for retailers of all sizes to support shopping demand online.”

Small businesses have long made ends meet by offering unique in-store experiences. The pandemic changed that.

“Brick and mortar was our strength, and the website [used to be] just a marketing tool,” said Brian Miller, president of Geppetto’s, a San Diego, California-based toy store. “But when Covid-19 happened, we enhanced the website and improved it and

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Seattle startup Flexe raises $70M as e-commerce rise fuels demand for flexible warehousing platform

The Flexe team, pre-pandemic. (Flexe Photo)

Flexe is raising more capital ahead of schedule as the pandemic-driven e-commerce boom spurs faster-than-expected growth for its warehousing technology platform.

The Seattle startup announced a $70 million Series C round led by new investor T. Rowe Price, with participation from existing backers Activate Capital, Tiger Global, Madrona Venture Group, Redpoint Ventures, Prologis Ventures, and others. Total funding to date in the 6-year-old company is $134 million.

Flexe originally planned to raise another round sometime next year. But investors were ready to put more fuel into the business given its recent metrics.

“Flexe is poised to become an impactful company in the logistics industry for the long term,” Andrew Davis, director of private investments at T. Rowe Price, said in a statement. T. Rowe Price recently led a $2.5 billion round in electric car maker Rivian and was an early backer of Facebook, Twitter,

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The Luxury E-Commerce Wars Heat Up

According to Mr. Cohen, the brand had received “messages from customers asking why such expensive pieces were selling on Amazon.”

Yet going it alone is also increasingly untenable. LVMH Moët Hennessy Louis Vuitton, the largest luxury group in the world, has publicly rejected the idea of working with Amazon, but even its proprietary solution — the wholesale platform 24 Sèvres, created in 2017, with an exclusive arrangement with Dior and Céline — has not gotten meaningful traction with consumers, and it continues to lose money. (The group also made a multimillion-dollar investment in Lyst in 2018.)

“The term ‘platform’ is intoxicating at first blush, but at second, it’s a license to spend tens of billions of dollars before you see any return,” Mr. Galloway, the New York University professor, said.

Enter the Farfetch alliance.

Farfetch, which went public in 2018, has a business model that includes an

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Automated Guided Vehicle Software Market|Growing E-commerce Industry to Boost Growth|Market Analysis, Drivers, Restraints, Opportunities, and Threats

LONDON–(BUSINESS WIRE)–Nov 25, 2020–

Technavio has been monitoring the automated guided vehicle (AGV) software market and it is poised to grow by USD 441.46 million during 2020-2024, progressing at a CAGR of over over 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201125005697/en/

Technavio has announced its latest market research report titled Global Automated Guided Vehicle (AGV) Software Market 2020-2024 (Graphic: Business Wire)

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.Please request Latest Free Sample Report on COVID-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Daifuku Co. Ltd., Honeywell International Inc., John Bean Technologies Corp., KION GROUP AG, Kollmorgen Corp., KUKA AG, Murata Machinery Ltd., SSI SCHAEFER

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At 11% CAGR, Retail E-commerce Software Market Size Set to Register 6942.9 million USD by 2024

The MarketWatch News Department was not involved in the creation of this content.

Nov 25, 2020 (Market Insight Reports) —
Selbyville, Delaware According to Market Study Report LLC adds new research on Retail E-commerce Software market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Retail E-commerce Software market also includes an in-depth study of the industry competitive scenario.

According to this study, over the next five years the Retail E-commerce Software market will register a 11.0% CAGR in terms of revenue, the global market size will reach US$ 6942.9 million by 2024, from US$ 4569 million in 2019.

Request Sample Copy of this report athttps://www.marketstudyreport.com/request-a-sample/1629961?utm_source=marketwatch.com&utm_medium=AG

The key manufacturers covered in this report:

Magento

Yahoo Store

WooThemes

PrestaShop

VirtueMart

Shopify

osCommerce

OpenCart

Demandware

BigCommerce

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Optimizing The Online Checkout Experience: The Next E-Commerce Frontier

As the pandemic continues, consumers continue to shift their shopping habits online. 

Retailers are taking note and are looking for ways to improve the online shopping experience—specifically focusing on ways to speed up and optimize the checkout process. 

The reason: Cart abandonment rates average 69.57% across e-commerce industries, meaning almost two-thirds of online purchases are not completed.

One increasingly popular solution is enabling one-click checkout methods—like Amazon’s
AMZN
one-click checkout—and digital wallets—like Apple Pay. 

Data indicates we’re nearing the tipping point of mass consumer adoption around these more frictionless payment methods: Juniper Research projects that by 2024, as much as 50% of the global population will use digital wallets and that contactless payment transaction values will exceed $1.5 trillion.

As a result, e-commerce platforms are teaming up with online retailers to power e-commerce solutions that are both flexible enough to work with a brand’s needs and their existing technology—which

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Amazon to invest $300 million in South Korean e-commerce company 11st

  • Amazon plans to invest roughly $300 million in South Korean e-commerce company 11st, according to local reports.
  • The investment is part of an official partnership between the companies, announced on Monday.
  • Amazon’s move into South Korea shows its continued interest in international expansion, a segment that saw its sales grow 37% in its most recent quarter, after having decelerated to just 9% in the first quarter of 2019.
  • Amazon has struggled to establish an e-commerce presence in South Korea, a market that is expected to become the third largest in the world by 2023.
  • Visit Business Insider’s homepage for more stories.

Amazon plans to invest roughly $300 million in South Korean e-commerce company 11st, according to local reports, continuing its efforts to expand in overseas markets this year.

The investment is part of an official partnership announced on Monday, under which Amazon agreed to sell select products to Korean customers

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Dutchie Launches Customizable Cannabis e-Commerce Platform; Cookies, Native Roots Sign Up

Dutchie, an e-commerce tech company for cannabis industry, is launching a new enterprise-level solution that seeks to provide dispensaries with the ability to create completely customized e-commerce experiences for their customers — this is according to information procured exclusively ahead of an official announcement.

Dubbed Dutchie Plus, the platform aims to establish itself as “the Shopify Plus for cannabis,” the company says.

In an exclusive interview, co-founder and chief product officer Zach Lipson explained the product responds to the cannabis industry’s rapid growth.

“Innovative and progressive multi-state operators and larger dispensaries are looking to take their online experience to the next level. Particularly, in a direction that’s fully on-brand and designed to match the uniqueness of their stores,” he declared.

See also: Carlos Santana Talks Cannabis: ‘It’s All About Consciousness, Man’

This is where Dutchie Plus comes in, providing retailers with a set of APIs to customize

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Introducing The Global X Emerging Markets Internet & E-Commerce ETF

On November 11th, 2020, we introduced the Global X Emerging Markets Internet & E-commerce ETF (EWEB) on Nasdaq. EWEB seeks to invest in Emerging Market (EM) internet and e-commerce companies, including those involved in online retail, social media, online entertainment, search engines, and software delivered via the internet.

With the long-term slowing of economic growth in developed markets, emerging markets are driving the majority of global economic growth. Much of this growth is attributable to EM’s expanding middle class; a powerful generation of consumers whose new spending habits and internet connectivity are giving rise to quickly growing industries. Nowhere is this more evident than within the internet and e-commerce industry, where EM companies are becoming global innovators in markets ripe for disruption and long term growth.

Despite the fact that EMs are home to the greatest proportion of consumers, with the highest contributions to global consumption, many investors have a

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SK Telecom and Amazon enter equity deal for ecommerce boost

SK Telecom and Amazon said on Monday that they have entered into an equity participation agreement to collaborate on the growth of the carrier’s ecommerce business.

Under the deal, Amazon products will become available on 11th Street, an online shopping subsidiary under SK Telecom.

The US ecommerce giant will also get preemptive rights over shares of 11th Street, dependent on business performance. The precise terms of the deal have not been revealed.

Amazon and 11th Street will announce the specifics of their new collaborative service at a later date when they are ready, SK Telecom said.

The telco added it hopes to grow 11th Street into a global distribution hub platform that can also help South Korean sellers reach the global market.

Meanwhile, Amazon said 11th Street shared its “customer obsession” and expected the collaboration to offer a differentiated experience for South Korean consumers.

The deal between the US ecommerce

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