In today’s top retail news, Verishop and Snapchat are launching a social commerce experience within the popular image-sharing app, while eCommerce platform Fabric netted $100 million in Series B funding to aid in its global expansion. Also, BigCommerce is teaming with Latin American online marketplace Mercado Libre, and Macy’s continues its quest to reach younger consumers.
Snapchat, Verishop Partnership Aims To Boost Lagging US Social Commerce Sales
Verishop is partnering with Snapchat to launch a social commerce experience within the popular image-sharing app, marking an escalation of an already intense arms race to expand eCommerce capabilities on social media. Verishop Mini, which will live exclusively within Snapchat, will allow consumers to shop a rotating selection of fashion and beauty brands, using Snapchat’s augmented reality (AR) feature to virtually sample products and accessories.
Fabric Notches $100M In Series B To Expand eCommerce Platform
Headless eCommerce platform Fabric has raised $100 million in Series B funding, led by Stripes, to help fund its global expansion as the company looks to help thousands more mid-size and enterprise B2B and B2C companies. In conjunction with the funding, Stripes Partner Ron Shah will join Fabric’s board of directors.
BigCommerce, Mercado Libre Team As LatAm’s eComm Sector Grows
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Amid a growing eCommerce market in Latin America, eCommerce software platform BigCommerce has teamed with Mercado Libre to let BigCommerce merchants sell in Latin America on Mercado Libre’s Marketplace. This is Mercado Libre’s first partnership with a major North American eCommerce platform. Mercado Libre sells in 18 nations in Latin America, and it has “global selling operations active” in Mexico, Peru, Venezuela, Colombia, Chile, Brazil and Argentina.
Macy’s Courts Millennials With New Private Brand
A new private brand from Macy’s Inc. called And Now This is launching this week online and in select stores as the brand that defined “department store” transitions to a “digitally-led omnichannel retailer” and tries to court younger consumers. In an interview with PYMNTS, Macy’s Chief Merchandising Officer Nata Dvir said the brand offers fits that are “more relevant” to younger consumers and has a more minimalist aesthetic than Bar III, the retailer’s other private brand targeted to shoppers under 40.
