A 2.7% stock increase has raised Amazon's market value to $768 billion, overtaking Alphabet's $762.5 billion and replacing the Google parent as the world's second-most-valuable company, behind Apple. All major tech stocks have performed well in the past 12 months, but Amazon has been the most impressive, gaining 85%.
Capturing Millennial and Gen Z Shoppers Younger consumers shop different than other generations, gathering information online, from a variety of sources. To capture their attention and purchasing power, retailers must embrace a new way of getting their message out: omnichannel marketing. Get the guide
Fashion marketplace Farfetch is said to be planning for an initial public stock offering, raising comparisons with Yoox Net-a-Porter, Pamela Danziger writes. The main difference between the two companies is in their business models -- YNAP controls its supply chain while Farfetch partners with global retailers and brands to sell their styles online.
Kozmo.com, once a delivery service for anything available on the internet, has been revived under new management, with a focus on grocery orders. Now operated by grocery platform Yummy, the company will focus on next-day delivery of orders costing $35 or more with a $5.99 fee.
Lytro, a startup that started as a camera company that focused on the consumer market and then pivoted to developing technology for virtual reality, is being acquired by Google, sources told TechCrunch. The sources said Google is getting the company for between $25 million and $40 million.
Snapchat's Global Director of Project Management, Peter Sellis, intends on leveraging the platform to allow brands to combine artificial intelligence and in-app shopping into one platform in a strategy it followed for Nike's prerelease of its Air Jordan III Tinker. The e-commerce platform is still in the discovery stage, with Sellis reporting, "With stuff like [the Nike campaign] we're just trying to learn what our users do with it -- like, do they understand, and are they willing to put their credit card details into Snap and things like that."
Creating content with a specific audience in mind and utilizing strong imagery are two ways marketers can best optimize Facebook marketing strategies, writes Nick Clarke. Constant testing and refreshing of ad content are other ways marketers can see the highest engagement from Facebook fans, he writes.
Crate and Barrel has boosted sales in recent years with a focus on digital retail and social media marketing, and the chain now does about 47% of its sales online, CEO Neela Montgomery said. The retailer, which declines to sell on Amazon to protect its branded shopping experience, has cut shipping times and won fans with made-in-America products, she said.
Men are significantly less likely to switch to online shopping than women, either for browsing or to order, according to research from First Insight. Men are also less likely than women to be Amazon Prime subscribers, and 44% of men say being able to see and touch a product before purchasing it is part of their reasoning for shopping in-store instead of online, according to the research.
Retailers face many challenges when it comes to protecting personal identification and payment card data. Eric Cole, who served on the Commission for Cybersecurity during the Obama administration, outlines key approaches retailers can take to improve their cybersecurity efforts. Read them here.
At NRF 2018: Retail's Big Show, QVC Chief Interactive Experience Officer Mary Campbell and Chief Digital Officer Todd Sprinkle discussed how QVC is investing in technological innovation to manage its rapidly expanding brand portfolio. Read the STORES Magazine recap.