Amazon has announced an increase in the costs of its multi-channel fulfillment service for European sellers, citing rising operational costs due to inflation as the reason for the change. The new fees will take effect next month.
Recently, Zalando and eBay also have increased seller fees due to the economic slowdown, while Amazon has been investigated for benefiting sellers using its logistics service, Fulfilment by Amazon (FBA).
Shopify’s Winter '23 Edition introduces 100+ product updates that keep merchants on the cutting edge
Shopify has announced its Winter '23 Edition, which includes over 100 product updates to keep merchants up-to-date with the latest e-commerce trends and technologies.
Shopify's Winter '23 Edition offers over a hundred new products and features, including tools for mobile commerce, seamless checkout, and fast delivery. The company aims to be the fastest-moving commerce company in the world to support its merchants and shape the future of entrepreneurship.
Etsy has resumed payments to merchants with Silicon Valley Bank accounts after the bank was shut down by the US government last week. Approximately 0.5% of Etsy's active sellers had their payments delayed, but the e-commerce platform has already started processing payments via another payment partner.
As per reports that Etsy and Shopify work with 5.4 million and 1.75 million online merchants respectively worldwide, with a focus on small-to-medium size businesses.
Some Etsy sellers have put their stores on vacation mode to minimize financial losses during the pandemic, while others report receiving payments on schedule.
Shopify has launched a suite of blockchain commerce tools to enhance the user experience of their Web3-focused stores hosted by the platform. The tools are designed to be crypto-friendly and are aimed at improving the e-commerce experience for users.
Shopify merchants can now use token gating to control which token holders can access exclusive products, NFT drops, and benefits. This tool verifies user eligibility via their connected wallet, making it a useful way for NFT merchants to reward certain users and add exclusivity to specific products.
According to Comscore's "State of Digital Commerce" report, U.S. e-commerce revenue exceeded $1 trillion for the first time in 2022, with retail sales hitting $1.09 trillion (excluding travel) and an 11% increase over 2021. Fourth-quarter retail e-commerce sales also set a record at $332.2 billion, 18.1% higher than Q4 2021.
According to the U.S. Department of Commerce, e-commerce accounted for 14.6% of total U.S. retail sales in 2022, with Q4 alone accounting for 16% of sales.
According to eMarketer, global retail e-commerce sales reached $5.7 billion in the previous year, making up 19.7% of total retail and increasing by 9.7% from 2021.
As per Forbes report, e-commerce sales are expected to grow by 10.4% in 2023, due to the fact that 20.8% of retail purchases are expected to take place online. Businesses can benefit from this trend by selling more and earning more through e-commerce.
According to recent news, the global e-commerce market is projected to reach a total value of $6.3 trillion by 2023. The benefits of e-commerce, include the ability to sell products and services to anyone, anywhere in the world, as long as they have access to your website. This can help businesses expand their brand's global presence and achieve growth.