PayPal Updating Users, Lemon8 Rising on the US Market and More News
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With Easter behind us, it’s time to get back to business. This week’s newsletter is back to its original longer format, and we’re here with top eCommerce news from all over the world. As usual, the big fishes are setting the pace — just as they did in last week’s newsletter. This Friday, we’re all about ByteDance, PayPal, and JD. Let’s get into it!
Today’s news is 1460 words and takes 5 ½ minutes to read.
PayPal Updating Users on New Capabilities and Features
PayPal is rolling out some new and exciting updates that are sure to enhance your digital payment experience. The company shared the details of its latest capabilities and features designed to make transactions faster, smoother, and more secure. And the interesting part — users received customized information based on their unique account activity.
What changes are we talking about?
Starting from April 4, 2023, your customers can choose to pay using Venmo, Pay Later, or their credit or debit cards. And the best part? They don’t even need a PayPal account! This means they can pay you easily and securely using their preferred payment method, no matter where they are in the world.
But that’s not all. PayPal is also improving the presentation of your payment request via PayPal Invoicing. From the beginning of April 2023, your emailed invoices will include additional merchant information, like your company logo and the transaction history between you and your customer. And the best part? This is an automatic update, so you don’t need to take any action!
And if you’re a fan of Apple Pay, you’ll be thrilled to know that starting from April 25, 2023, PayPal will offer Apple Pay on Website Payments Standard (WPS) in certain guest checkout experiences for eligible consumers. This feature will be automatically enabled as part of your existing WPS integration at no extra cost, included at your current PayPal rate.
Overall, these updates will make your payment experience even better, faster, and more convenient. So sit back, relax, and let PayPal handle the rest!
Big Retailer News
Lemon8 — a TikTok sister app rising on the US market
Just when we thought that the US TikTok ban shenanigans couldn’t get any more interesting and controversial, ByteDance has once again proven that it hasn’t finished speaking out just yet.
Lemon8 — a relatively new app coming from TikTok’s parent (ByteDance) is gaining more and more momentum in the US market despite national security concerns. Although the app has been up and running since 2020, it has only been available on the US market since February, and it has already gained over 650,000 downloads in just the past two weeks.
Why should this news be of interest to us? Well, despite the concerns of the US government, the Chinese startup demonstrates the sheer power it has over American users. ByteDance is determined to prove just how much it’s willing to stay global and will not fall back without a solid fight.
Lemon8 seems to resemble all the popular apps — TikTok, Instagram and Pinterest — making it a very appealing candidate to become the next top tier social media app.
What’s in it for eCommerce sellers?
If the new app introduces something similar to TikTok Shop, it could very possibly become another source of income for eCommerce sellers. And that’s exactly why you should find out more about it.
If you haven’t had the chance already to download Lemon8, why not check it out before it gets even bigger?
While we’re on the subject of TikTok…
We’ve been looking out for the greatest trends of all time, and wouldn’t you know it — freeze-dried candy has taken over the United States, and it’s making its way over to other countries as well. Small businesses that have jumped on the bandwagon are making skyrocketing profits — it seems that young adults are crazy about these treats!
Freeze-dried candy (if you don’t know yet) is candy that has gone through a process of eliminating water from individual pieces. It looks like the most popular candy to get freeze-dried are Skittles, candyfloss, and jolly ranchers.
If you’ve been looking for a product to sell, this one is definitely promising. You will have to look out, though — a wrongly sealed package could end in a lawsuit!
Tech Giants Layoffs
In other (not so great) news, it seems that our favorite tech giants — that is, Amazon, Google, and Meta — and others, are continuing to lay off their workers, and in quite big numbers too.
Since the beginning of the year, around 168,198 workers have been laid off so far by about 570 big tech companies. Many businesses are trying to persuade workers to voluntarily resign in exchange for money, packages, and other goods. It seems that in many European countries, laws are not so easygoing with firing workers simply because of cut backs.
For our Readers
Will this affect you? It’s a possibility, but by looking at the sources, it seems that they’re mainly laying off tech and white-collar positions. Many companies are simply cutting costs, and as we keep advancing technologically, the need for some specializations is simply lesser.
If you haven’t already, in times like these, it would be a good idea to think about trying your luck with a small business and turning to the eCommerce world.
If you’ve stumbled upon our platform in the hope of some eCommerce small business tips and tricks, then don’t hesitate to look through some of our best articles on how to get started.
Also in the News
- Interview with Andy Hunter. Wired.
- HUMBL launched Web 3 advertising. Martechvibe.
- Is Etsy over? Create and Thrive.
International Retailer News
JD Reorganization
JD, the Chinese e-commerce behemoth, has undertaken a major shake-up of its main business unit, JD retail, according to local media outlet 36Kr. As part of the overhaul, JD is cutting an organizational layer to streamline the reporting hierarchy between ordinary employees and JD retail’s CEO to a maximum of three levels.
The former business group will also split into specific operation units based on subcategories, with each unit responsible for sales in that category and heads of operating units gaining decision-making autonomy. The company is also removing the distinction between self-operated and third-party goods in order to drive internal competition and execute its low-price strategy more smoothly.
The restructuring comes as established online shopping platforms such as Taobao and JD are being threatened by the rapid growth of newer channels, pushing them to improve efficiency. By streamlining its reporting structure and encouraging internal competition, JD hopes to increase agility and maintain its competitive edge in the highly competitive Chinese e-commerce market.
Are you a retailer?
Remember, every retailer should have these six sales skills. So just as JD shook up its main business unit, it could be time for you to shake up your own sales business skills.
Should other Chinese platforms worry over security concerns?
The US Congress is coming up with new laws and restrictions as national security worries grow daily. And as we all know, TikTok is heavily under fire — but what about other Chinese platforms? Should we worry about them disappearing from the US market as well?
CapCut, Lark, and Shein are a few of the platforms that could have to worry in the future about suffering from restrictive laws. These and other apps have gone under national security reviews in order to check data privacy breaches. Of course, media apps are not the same as shopping apps, which is why perhaps platforms like Shein, Temu and Aliexpress don’t have to worry as much as TikTok just yet.
It’s still early days to decide where the controversial worries will lead, and what laws will pass. But one thing is for sure — anything concerning national security is a high priority topic that will not get swept under the rug.
Are we too worried for our own good?
Perhaps. But you do remember when we told you about EU passing regulating laws for tech companies right? And we all know how tough it is for laws to pass over. So could the TikTok ban happen sooner than we think? Share your thoughts in the comments below!
Also in the News
- Registration now open for DSS Europe. AV Nation.
- Alibaba unveils new AI for content creation. Medium.
Webinars
For everyone
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Prime Day Preparation, Sponsored Products, Sponsored Brands, reporting, optimization, and other tips. Amazon.
For US sellers
April 20: Streaming Ads that Work and Why. Tinuiti.
April 27: Why online shoppers buy (or don’t) in 5 key categories. Digital Commerce 360.
For UK sellers
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Prime Day Preparation, Sponsored Products, Sponsored Brands, reporting, optimization, and other tips. Amazon.
April 18: Linnworks Meet the marketplace event. ChannelX.
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