The eCommerce giant ContextLogic Inc., better known as Wish, reported a 42% drop in total revenue year-over-year in its second-quarter earnings Thursday (Aug. 3), blaming competition and a challenging business environment for the decline. According to the company’s earnings call with analysts, it closed out Q2...
In the age of digital commerce, consumers have long been searching for more intuitive ways to discover and purchase products. One notable challenge in this process has been the gap between visual inspiration and product identification. Consumers often come across items they like in real...
Amazon is reportedly overhauling its grocery operations to compete on that front with rival Walmart. Changes on tap include updated stores, a warehouse automation pilot and offering fresh food delivery to non-Prime members, Bloomberg News reported Wednesday (Aug. 2). Meanwhile, Amazon will also merge its eCommerce grocery offerings — Whole...
Cosmetics maker Revlon has announced the appointment of Elizabeth “Liz” A. Smith as interim CEO of the company, effective Tuesday (Aug. 1). Smith takes over from Debra Perelman, who is stepping down from her role as president and CEO and board member, but will remain an advisor to the...
Facing pressure to improve their environmental record, clothing makers want to repair customers’ worn garments. It’s a trend PYMNTS has been following since last year and the subject of a Tuesday (Aug. 1) Wall Street Journal report on the fast-fashion sector’s repairs campaign. For example, Zara is set to...
When consumers don’t spend, retailers typically think to offer a discount. But discounts, as we all know, can become a slippery slope. What lengths will a luxury retailer go to get the “aspirational shopper” to continue to shop? The question arises due to the difference...
German footwear brand Birkenstock is reportedly getting set for a listing in the U.S. as soon as September. The brand’s owner, private equity firm L Catterton, which is backed by luxury French fashion house LVMH, is preparing to launch an initial public offering (IPO) with plans to...
Walmart has unveiled an updated version of its refurbished product program, aimed at both consumers and sellers. Announced Monday (July 31), Walmart Restored Premium follows last year’s rollout of Walmart Restored, which sells used products the company claims are like new. “Like any strong sequel, Restored Premium expands...
Hundreds of Etsy sellers are reportedly organizing a boycott after the online marketplace withheld merchants’ money. This effort comes after the firm told hundreds of sellers that it is putting a hold of 75% of their earnings for 45 days, saying it is withholding the money for potential refunds,...
