Category: E-Commerce
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Wiggle and Chain Reaction Cycles to Shut Down International eCommerce Stores
WiggleCRC Group refocuses efforts on the UK market amid search for buyer In a surprising move, administrators have announced that the international eCommerce stores for popular cycling retailers Wiggle and Chain Reaction Cycles will be switched off. The decision comes as the WiggleCRC Group, which entered administration in October, aims to focus its efforts solely…
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PDD Challenges Alibaba’s Dominance in China’s E-commerce Space
PDD’s shopping app Temu surges in popularity, shaking up China’s Big Tech club In a historic shift in China’s e-commerce landscape, PDD, the firm behind the fast-growing shopping app Temu, has emerged as a formidable challenger to Alibaba. With news of Alibaba’s market cap sliding below that of PDD, the 24-year-old incumbent is facing its…
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PDD Challenges Alibaba’s Dominance in China’s E-commerce Landscape
The rise of PDD’s shopping app, Temu, poses a threat to Alibaba’s market position and catches the attention of U.S. authorities. In a historic shift within China’s e-commerce space, PDD, the firm behind the popular shopping app Temu, has surpassed Alibaba in market capitalization. This development marks a turning point for Alibaba, which has long…
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Alibaba Founder Jack Ma Calls for Change as Competitor Pinduoduo Surpasses Market Cap
Pinduoduo’s stellar performance causes a stir at Alibaba, prompting Jack Ma to encourage innovation and reform at his e-commerce company. Alibaba, the Chinese e-commerce giant founded by Jack Ma, is facing a new challenge as its competitor Pinduoduo (PDD) surpasses its market capitalization. PDD, the group behind Chinese online shopping giant Pinduoduo and US-based retail…
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Zubale Raises $25 Million in Series A Extension Round to Expand E-commerce Tools in Latin America
Mexico-based company Zubale secures additional funding to enhance its suite of e-commerce solutions and consolidate its presence in Latin America. Zubale, a Mexico-based company that provides tools to retailers to scale their digital channels, has raised $25 million in a Series A extension round. Led by QED Investors and joined by investor group NFX and…
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Wiggle and Chain Reaction Cycles Shutting Down International eCommerce Stores
WiggleCRC Group to Focus Solely on UK Market in Effort to Rebuild Wiggle and Chain Reaction Cycles, two prominent international eCommerce stores for cycling enthusiasts, will be shutting down their international operations. The decision comes as the WiggleCRC group, which entered administration in October, aims to refocus its efforts solely on the UK market. The…
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Black Friday and Cyber Weekend Online Sales Reach Record Highs, Signaling a Shift in Consumer Behavior
E-commerce-focused retailers thrive as shoppers opt for online purchases during the holiday shopping season Shoppers have embraced the convenience and comfort of online shopping during the Thanksgiving weekend, resulting in record-breaking sales figures. Online spending on Black Friday reached an all-time high of $9.8 billion in the U.S., representing a 7.5% increase from the previous…
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Black Friday and Cyber Weekend Online Sales Reach Record Highs, Boosting E-Commerce Stocks
Shoppers Flock to Online Retailers, Driving Record-Breaking Sales and Stock Surges As the holiday shopping season kicked off, shoppers opted for the convenience and safety of online shopping, driving Black Friday and Cyber Weekend online sales to new heights. According to Adobe Analytics, Black Friday online spending in the U.S. reached a record $9.8 billion,…
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TikTok Seeks E-Commerce Permit in Indonesia to Expand Revenue Opportunities
The popular short video app TikTok is taking steps to obtain an e-commerce permit from the Indonesian government, following a ban on social media e-commerce transactions in September. TikTok, the viral short video app owned by China’s ByteDance, is actively pursuing an e-commerce permit from the Indonesian government, according to a report by state news…
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Black Friday and Cyber Weekend Online Sales Reach New Heights
Shoppers Opt for Online Deals, Driving Record-Breaking Sales Shoppers across the United States embraced the convenience of online shopping this Thanksgiving and Black Friday weekend, leading to a surge in online sales. According to Adobe Analytics, Black Friday online spending reached a record $9.8 billion, marking a 7.5% increase from the previous year. Additionally, online…
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NRS Launches Ultimate Ecommerce Package to Empower Independent Retailers
NRS revolutionizes the ecommerce game with their all-inclusive package, empowering small retailers to thrive in the digital age In the fast-paced world of retail, independent retailers often find themselves struggling to keep up with the ever-evolving demands of the market. With the rise of ecommerce, it has become increasingly challenging for these small businesses to…
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Pinduoduo and Meituan: Chinese E-commerce Giants Surge in Q3 Revenue
Riding the Wave of China’s E-commerce Boom: Pinduoduo and Meituan’s Remarkable Q3 Revenue Growth Pinduoduo and Meituan, two of China’s largest e-commerce giants, have recently reported staggering revenue growth in the third quarter of this year. With the ongoing COVID-19 pandemic accelerating the shift towards online shopping, these companies have capitalized on the surge in…