How The Sharing Economy Is Changing Online Sales

PYMNTS | June 10, 2019

article image
The sharing economy has transformed the way consumers get transported from point A to B, how they rent vacation homes, how they get food delivered and, increasingly, how they shop.The latest Platform Economy Playbook explores how digital platforms have enabled companies to move beyond transactional digital commerce and explore new models.Clothing rental used to involve renting a loaner tux for a prom or other formal event, but it has moved into the modern age with platforms like Rent the Runway to make designer apparel and accessories more affordable for limited time usage. Consumers might not want to pay $500 for a dress but can justify $75 for to wear it for an evening. What started as a pay-as-you-go model morphed into a subscription service and is now being applied to other verticals like home goods with Rent the Runway’s recent partnership with West Elm. Even IKEA, which was a late eCommerce adopter, has started experimenting with furniture rentals.

Spotlight

OfficeMax

Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school, or car. Office Depot, Inc. is a resource and a catalyst to help customers work better.

OTHER ARTICLES

How to Boost Donations Through Online Point-of-Sale Fundraising

Article | February 17, 2020

According to data firm Statista’s most recent e-commerce outlook, Americans will spend over $1,500 online each over the next 12 months. Moreover, that number is expected to surge even higher as Americans opt to do their holiday shopping online rather than wind their way through those infamous, in-store holiday crowds. If your nonprofit is able to turn that online shopping activity into a fundraising stream, there’s massive potential to boost donations. And the good news is that it’s not incredibly difficult to get started. Below, we’ll walk through how you can get your organization set up to accept these donations during your community’s online point-of-sale moments. First, however, we’ll explore the overall value of point-of-sale fundraising and why you need to consider it as a viable strategy for your nonprofit.

Read More

EU and US apparel consumption could fall by 300 billion US dollars in 2020

Article | April 13, 2020

Most European countries and the United States have been in lockdown since mid-March due to the Covid 19 pandemic, and brick and mortar stores have been closed accordingly. Although online retail continues, it is proving difficult due to falling consumer spending, transport issues and disruptions of the supply chain. A forecast by Indian management consulting company Wazir Advisors, which focuses specifically on the apparel sector, predicts a decline in apparel consumption in 2020 of 45 percent in the EU and 40 percent in the US, which could lead to a reduction by 300 billion US dollars (around 274 billion euros or close to 240 British pounds).

Read More

Yotpo Names the Most Innovative eCommerce Agencies and Technology Companies

Article | March 25, 2020

Yotpo, the leading eCommerce marketing platform, has announced the winners of the third annual Yotpo Partner Awards. Drawing from hundreds of nominations from a thriving ecosystem of system integrators, agencies, and technology providers, Yotpo’s Partner Awards highlight the companies and brands at the cutting-edge of producing eCommerce and marketing experiences that spark and sustain customer relationships. The winners represent work for a variety of industries and brands, from apparel to home, to a D2C spinoff brand and celebrity makeup line martech news. “As Yotpo’s signature industry recognition program, the Partner Awards put a spotlight on the trailblazing companies who constantly push the boundaries of innovation in eCommerce and marketing.

Read More

Don’t get left on the shelf in the ecommerce evolution

Article | March 26, 2020

Manufacturers are facing a retail armageddon and need to find new ways of driving sales direct or squeezing as much as possible through the ecommerce platforms of their partners. Pivoting to a DTC business is not a quick fix and for many brands, their own ecommerce sites are just not fit for purpose or the budgets are not available to drive the qualified traffic through to purchase. That inevitably leaves a greater focus on driving sales through third party ecommerce sites. The ecommerce penetration rates vary massively from sector to sector and while they have been growing strongly, they have to date made up a relatively small percentage of online sales. Traditional retail still contributes significantly to the bulk of all purchases.

Read More

Spotlight

OfficeMax

Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school, or car. Office Depot, Inc. is a resource and a catalyst to help customers work better.

Events