Today in retail: TikTok abandons e-commerce plans

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In retail today, retailers are looking to diversify their suppliers as a recession looms on the economic horizon, while Target kicks off its back-to-school shopping season as summer is in full swing . Additionally, a Reliance Retail partnership is bringing Gap stores to India, and rebounds from Carvana, Wayfair, Etsy and Chewy show e-commerce is down but certainly shouldn’t be counted out.

Don’t tell the kids, but Target has already launched back-to-school sales

Target, one of the nation’s largest retail chains, is already pushing back-to-school sales as legions of vacationing school children around the world are only just beginning to get into the summer swing . The Minneapolis-based operator of 2,000 stores, an e-commerce website and delivery service Shipt said this year’s event will be longer and also incorporate more ways to save, including new efforts raising awareness among teachers and students.

Although Target’s back-to-school sale is officially scheduled for July 17 through September 10, the retailer stressed that customers could immediately begin accessing in-store and online sales of select seasonal items if they wanted to get started early.

At the same time, the retailer also pointed out that its Deal Days event, which overlaps with Amazon Prime Day and runs from July 11-13, is also fast approaching and would be its “biggest sales event of the summer.” “.

TikTok issues focus on environmental impact and Livestream Shopping data

News hit Tuesday (July 5th) that China-based short video platform TikTok is scrapping its live shopping expansion in Europe and the US as its UK operation suffers from lackluster sales, streaming creator complaints, hostile workplace allegations and more.

This comes at a time when live shopping emerges as the next best frontier for social selling, as popular influencers curate items and outfits for their followers. Instagram kicked off Live Shopping in 2020, and Amazon Live and YouTube also got in on the action.

TikTok’s headwinds are a little more complicated than other players because parent company ByteDance is partly owned by the Chinese government and has therefore come under scrutiny among US lawmakers and regulators concerned about privacy concerns. data – and even national security.

Gap arrives in India through Reliance Retail partnership

Indian retail giant Reliance Retail Limited is bringing American fashion brand Gap to India through a long-term franchise agreement, according to a press release on Wednesday, July 6.

This partnership makes Reliance the official reseller of Gap across all channels in India.

Reliance will use a mix of exclusive brand stores, multi-brand store expressions and digital commerce platforms to introduce Gap’s offerings to Indian shoppers, the company said, noting the aim is to leverage the Gap’s position as the leading casual lifestyle brand.

Amazon faces UK antitrust investigation into sales practices

The UK’s Competition and Markets Authority (CMA) is examining whether Amazon “holds a dominant position in the UK and whether it is abusing that position and distorting competition by giving an unfair advantage to its own retail business or to sellers who use its services,” he announced in a statement Wednesday, July 6.

The investigation, which will examine whether Amazon offers preferential treatment to its own third-party sellers on the Amazon UK Marketplace, follows the European Commission’s review of similar concerns for the world’s biggest retailer.

The CMA survey will examine how Amazon collects and uses data from third-party sellers, how Amazon defines the criteria for assigning vendors as the preferred/first choice in the Buy Box, and how Amazon defines the eligibility criteria for the sale under the Prime label. , according to the press release.

Beaten e-commerce group gets a makeover with Carvana, Wayfair, Etsy, Chewy Soar

After suffering some of the market’s biggest losses in the first half of the year, a basket of badly beaten dot-com stocks has suddenly become the new leader as investors take a second look at the group.

While there’s no way of knowing if this nascent bounce will prove lasting or just another trap in a long-lasting sale, the reasons for the sudden surge in e-commerce brands are both familiar and unique. to the current economic maelstrom.

Whether it’s a fuel-based decision to make fewer trips to the store, an inventory-driven desire to see which particular products are actually in stock, or economic adjustments that drive consumers to browse the web in search of deals, the shared truth is that e-commerce is more viable than ever.

As recession looms, retailers face pressure to quickly diversify their suppliers

With too many indicators pointing to a recession in the second half, retailers and brands already struggling with inflation, stocks and a jittery consumer base have their work cut out for them to weather what could be an insulting economic episode after. a damaging pandemic.

Mike French, vice president of partnerships and alliances at e-commerce solutions platform Digital River, told PYMNTS that if you’re not diverse, watch out. Saying that making “more granular decisions more frequently” is a strategy suited to declining economies, French noted that “the other thing I see successful brands doing is another old adage, it’s all about diversification. “.

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