Acquiring

Yelp Expands into Fashion with Shoptiques.com

Shoptiques.com is Yelp’s latest addition to its growing family of partners. With this partnership, Yelp is increasing its inventory of local boutiques such as Olive & Bette’s in New York or y&i Clothing Boutique in San Francisco. According to Yelp’s blog, Shoptiques.com is Yelp’s first partner in the shopping vertical, which is also Yelp’s largest reviewed category at 23 percent. At the end of the first quarter of 2015, consumers completed about 1.5 million transactions on Yelp Platform, Yelp said.

With 200 current boutiques, Yelp operates as a community-based eCommerce platform. Customers can browse through the Yelp platform, read reviews, have products delivered and more. By the end of the summer, it aims to have thousands of boutiques available. Its array of categories include food ordering, spa treatments, winery tastings, hotels, and now boutique shopping.

The cheerful announcement posted yesterday on its blog greatly contrasts with the news of the struggles it is currently facing. Apart from sluggish user and advertiser growth, the San Francisco-based firm is also facing rising costs, a return to a quarterly loss and a stock price that has lost 50 percent of its value in the last year.

At the beginning of the month, rumors had it that Yelp was already exploring a sale. So while this news may leave some scratching their heads, the ambitious plans for its new partnership may be just the boost that Yelp needs.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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