eBay Enhances Its Consignment Service for Hassle-Free Selling, Google’s New Retail Media Solution, and More News
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Happy Friday, folks! We hope your week has been right as rain and that you’re happily getting ready for the weekend. This week, we have a bunch of important news for you, so make sure to save a few minutes for your favorite eCommerce read. Oh, and don’t forget to catch up with last week’s news if you didn’t have a chance to do so already. Well, without further ado, let’s dive right in.
Today’s news is 1588 words.
eBay Enhances Its Consignment Service for Hassle-Free Selling
eBay has broadened its luxury consignment service to cover designer apparel, building on the success it achieved with luxury handbags since its start in September 2023.
Individuals can easily sell luxury apparel through eBay’s expansion. With over 30 prestigious brands now included, including Dior, Fendi, Louis Vuitton, and more, sellers receive a portion of the final sale price, up to 80% for items fetching $5,000 or more, with authentication guaranteed for items over $200 through eBay’s Authenticity Guarantee program.
Previously, eBay offered a similar service through eBay Trading Assistants but discontinued it in 2013. The current repetition of the process signifies eBay’s renewed commitment to facilitating the sale of high-end goods, offering a streamlined process for sellers who prefer not to manage the sale process directly.
Categories eligible for consignment include a wide range of men’s and women’s apparel and accessories, with a specific list of eligible luxury brands that qualify for this service.
This move is part of eBay’s strategy under CEO Jamie Iannone to focus on luxury goods, reflecting the platform’s adaptation to the evolving market of online luxury sales.
By simplifying the consignment process and ensuring product authenticity, eBay aims to attract a broader base of sellers and buyers interested in the luxury segment, reinforcing its position as a key player in the online resale market for high-end goods.
What does it mean for eCommerce sellers?
For eCommerce sellers, eBay’s expansion into luxury apparel consignment offers a new, lucrative channel to sell high-end items with ease and security. Sellers can access a wider audience looking for authenticated luxury goods and benefit from eBay’s established platform to maximize their earnings on designer apparel and accessories.
MORE: eBay prohibited items: What not to list on eBay
Big Retailer News
Google’s New Retail Media Solution
Google is venturing into retail media advertising with the introduction of a new offsite retail media solution (still in beta testing), aiming to tap into the market driven by retail advertisements on third-party platforms like Google Search and Google Shopping.
Lowe’s is one of the first retailers to try out this solution through its One Roof retail media network. This initiative is Google’s way to facilitate closed-loop advertising campaigns for retailers and advertisers, leveraging Google’s Search Ads 360 (SA 360) tool to enable brands to utilize retailer data more effectively in their advertising efforts.
The solution, as explained by Ewan Fisher, Product Manager of SA360, is privacy-centric, allowing retailers to share first-party data with brands without exposing sensitive user information.
The goal of this method is to develop more personalized and focused advertising campaigns that directly boost sales on the retailer’s website.
Google’s long-term goal is to evolve this into a self-service model where brands and agencies can independently manage their campaigns, offering greater scalability and control over their advertising strategies.
As Google plans to expand the retail media solution, it signals the company’s commitment to advancing in the advertising ecosystem, catering to the evolving needs of retailers and advertisers in a privacy-focused digital landscape.
What does it mean for eCommerce sellers?
By moving towards a self-service model, Google is offering eCommerce sellers control over their advertising efforts, enabling them to optimize their strategies for better performance and efficiency.
The development not only promises enhanced visibility and sales through more personalized advertising but also signifies Google’s commitment to advancing the retail media ecosystem in a way that caters to today’s digital marketplace.
MORE: Check out our Marketing and Advertising guides
Is AI Actually Helping in the Retail Sector?
A new report by Salesforce and the Retail AI Council sheds light on the use of generative artificial intelligence (AI) in the retail sector, revealing both enthusiasm and unfortunate gaps among global retailers.
Surveying 1,390 retailers worldwide, the study finds a high engagement with generative AI technologies for personalization purposes, such as crafting individualized email content and product recommendations.
Despite this enthusiasm, with 93% of respondents already leveraging generative AI and 81% possessing a dedicated AI budget, the report highlights a crucial disconnect in effectively deploying these technologies to enhance customer experiences and loyalty.
Rob Garf, Salesforce’s general manager of retail and consumer goods, emphasizes the critical need for a strong data strategy to fully harness the potential of generative AI.
The goal is to improve the shopping journey for both consumers and store associates by considering data management, trust, and customer experience as interconnected facets of AI implementation.
However, the findings indicate that many retailers are at the starting stages of developing customer data profiles, with only 17% of surveyed retailers confident in their ability to support a unified customer view effectively.
The challenges extend beyond data collection and integration; retailers grapple with utilizing this data for actionable insights and ensuring it is readily accessible for decision-making.
Furthermore, ethical considerations and compliance with security standards emerge as significant concerns, mirroring customer apprehensions about AI bias and privacy.
What does it mean for eCommerce sellers?
The high engagement with AI for personalization signals a clear direction towards more tailored customer experiences. However, the report’s revelation of gaps in data strategy and ethical AI use indicate areas where eCommerce sellers must focus to fully capitalize on AI’s potential.
MORE: AI in eCommerce: Explanation, benefits and impacts.
Also in the News
- Is Amazon lying about plastic packaging? Grist
- HeyDude footwear to launch in the UK. Fashion United
International Retailer News
More News on the U.S. TikTok Ban
Following the passage of a bill by the U.S. House of Representatives aimed at compelling ByteDance to sell TikTok or face a ban in the U.S., the tech and political communities have been abuzz with speculation on the future ownership of the wildly popular app.
Recent events triggered a complex debate over whether ByteDance, led by founder Zhang Yiming, would—or even could—transfer ownership of TikTok to American entities.
The bill’s advancement to the Senate, where it faces skepticism from leaders on both sides, adds another layer of uncertainty to the app’s fate in the U.S.
President Joe Biden has expressed willingness to sign the bill into law should it clear both houses, putting ByteDance in a position where challenging the order in U.S. courts may become necessary.
TikTok’s CEO, Chew Shou Zi, has publicly voiced disappointment over the House’s decision, committing to defend the platform’s legal rights vigorously. The proposed ban has also drawn criticism from the Chinese government, labeling it as an act of bullying that would have repercussions for the U.S. itself.
The rising tension is creating debates over national security concerns, international diplomacy, and the global digital economy.
Amidst this backdrop, the maneuvers of ByteDance and its stakeholders are under close scrutiny. Despite previous reluctance to consider the platform’s division seriously, the pressure from the U.S. government might force a reevaluation of ByteDance’s stance.
What does it mean for eCommerce sellers?
As the situation evolves, eCommerce sellers must stay informed and adaptable, potentially seeking alternative platforms for engagement and advertising to safeguard against market volatility and ensure sustained reach to their target audiences in a dynamic digital economy.
It’s entirely possible that TikTok creators may have to move to the Instagram app in order to continue their businesses.
MORE: Creatopy: Trending ads design tool
Korea: A Rise in International Shopping
Last year, the Korea Customs Service reported a significant 70% spike in direct eCommerce purchases from China, highlighting a trend in international shopping habits.
The spike is a notable increase in the volume of purchased eCommerce goods from China to 88.81 million in 2023, up from 52.15 million in the previous year, showcasing the growing consumer appetite for overseas online shopping.
Accompanying this rise in direct purchases from China is a significant surge in consumer complaints, which have tripled, indicating emerging challenges in handling and inspecting the influx of imported goods.
The value of direct imports from China also witnessed a substantial increase, reaching $2.359 billion in 2023, a 58.5% jump from $1.48 billion the year before.
The tripling of complaints against Aliexpress and an 8.3% increase in counterfeit goods detections from the previous year highlight the urgent need for stronger oversight and regulatory measures. These are essential to protect consumer interests and uphold market integrity during the swift growth of eCommerce trade.
What does it mean for eCommerce sellers?
This surge offers sellers the potential to tap into expanding markets and diversify their customer base. However, the rise in consumer complaints and issues of intellectual property rights infringement signal the critical importance of quality control, customer service, and compliance with international trade regulations.
Sellers must prioritize transparent and ethical business practices, ensuring product authenticity and reliable delivery to maintain consumer trust and satisfaction.
Also in the News
- Flipkart fined for causing customer mental agony. Mashable
- Alibaba appoints new CEO and partners up with Huawei. Benzinga.
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