Best Buy is modifying some store formats and delivery functions to contend with eCommerce orders and a dramatic rise in curbside pickup amid the accelerated arrival of the digital-first economy. In auto sales, CarLotz, Inc., a consignment-to-retail used vehicle marketplace, reported a large increase in contribution margin per unit. And in eCommerce, a majority of Main Street small and medium-sized businesses (SMBs) have added new digital functions amid the pandemic, while in corporate payments, B2B transactions are shaking free of hardcopy methods as firms have moved operations online. All this, Today in Data.
Data:
$171K: Average annual cost businesses incur from processing paper invoices.
74%: Portion of accounting staff who report frictions when manually processing invoice data.
67%: Share of Main Street SMBs that expect to generate more eCommerce sales after the pandemic ends.
26%: Share of consumers who say merchants must accept contactless cards for them to feel comfortable shopping in-store.
$1.883K: Amount of CarLotz, Inc.’s contribution margin per unit in Q3 2020.
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