In today’s top retail news, social media companies are continuing to build commerce ecosystems on their platforms, while retailers are emphasizing curbside pickup for consumers to avoid exacerbating the inefficiencies of delivery. Also, Poshmark is now allowing brands to sell merchandise directly on its platform, and VTEX has partnered with Stripe to offer new online payment processing capabilities.
Social Media Giants Keep Focus on Commerce Ahead of Holidays
Facebook, Twitter and Snapchat are focused on building better shopping experiences on their platforms, which executives see as a lucrative path to future growth. Facebook CEO Mark Zuckerberg said earlier this week that “building a full-fledged commerce platform is a multi-year journey,” but noted the company has made good progress. Meanwhile, Twitter recently launched new business profiles to allow retailers and other companies to differentiate themselves; the company will soon enable product purchases through these profiles.
Retailers Push Curbside, In-Store Pickup to Fight Delivery Inefficiencies
As retailers gear up to get people their orders throughout the holiday season, many are tacitly acknowledging the need to wean themselves, and consumers, off a reliance on delivery and encourage shoppers to pick things up instead. Two big reasons for this shift are the high cost of shipping items to customers’ front doors and the hiring crunch that most companies across the U.S. are currently facing.
Poshmark Allows Brands to Sell Directly on Platform
Online apparel platform Poshmark has rolled out the Brand Closet Program, which allows large brands to connect directly with and sell on the company’s secondhand marketplace. Poshmark began testing the Brand Closet in 2020 — including social merchandising, brand awareness, customer loyalty opportunities, and turnkey commerce and logistics offerings — with select retailers.
VTEX Teams With Stripe to Offer Digital Payment Options for eCommerce Retailers
Commerce platform VTEX has joined forces with online payments infrastructure company Stripe to offer online payment processing capabilities through Stripe. VTEX customers can process online payments with Stripe directly through a plug-in, and the integration works in all countries where both companies operate. Brazil-based VTEX, which was founded in 2000, lists Walmart, Coca-Cola, Nestle and Sony among its clients.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More