Ghost has raised $30 million to grow its members-only B2B marketplace that helps brands and retailers move surplus inventory. The firm will use the capital from this Series B funding round to add to its product, engineering and design team; further develop its platform; and expand into new...
Shopping over social media seems to be the next frontier of eCommerce spend, with 43% of consumers (approximately 110 million individuals) browsing these platforms to find goods and services. However, only 14% (36 million individuals) buy those goods and services via social media. Data shows...
In 1968, Vogue magazine published an article titled “Can Great Skin Be Created?” by beauty editor Carol Phillips. It caught the attention of dermatologist Dr. Norman Orentreich and journalist Evelyn Lauder, who were both intrigued by the idea of merging dermatology and cosmetics to create a...
As Richemont acknowledges the declining influence of China on luxury shopping, Kering is seeking to delve deeper into the market, aiming to connect with consumers who remain eager to spend. The company has introduced Gucci’s newly opened flagship store, now accessible on China’s JD.com. This...
Consumers in China have started trading down, and the country’s eCommerce giants are acting accordingly. Companies like Alibaba and JD.com have launched campaigns to promote lower-priced items, The Wall Street Journal (WSJ) reported Monday (Aug. 21). “We try to give users an experience that good merchandise doesn’t have to be...
Big tech companies like Google and Apple will soon face sweeping new regulations in Europe. As The Wall Street Journal noted in a report Sunday (Aug. 20), the new laws mark the largest expansion of regulations ever seen in the west, similar to the restrictions...
A data breach at Tesla in May was apparently the work of insiders. That’s according to a notice from the Maine attorney general issued Friday (Aug. 18), which said the breach impacted 75,735 people, nine of them from Maine, who are apparently current or former...
Sneaker rental platform Kyx World learned a hard lesson in January. Demand for its shoes dropped, and it had to abruptly cease operations just a month after securing a round of seed funding, Sole Retriever reported at the time. Maybe sneaker rentals weren’t the way to go. The company...
Buoyed by growing consumer preference for faster payments, instant disbursements have gained popularity in recent years. The recent launch of the FedNow instant payments system has further underscoring that demand. In the “Disbursements Satisfaction Report 2023: Instant Payouts Reach an Inflection Point” report, PYMNTS provides...
