Australia is going through a fashion retail slump according to the latest figures from the Australian Bureau of Statistics with a 2.5 percent decline in clothing, footwear and accessories in February this year.
Seven years after acquiring the company behind Diapers.com, Amazon has confirmed that it will be calling it quits with Quidsi, after it failed to be profitable.
Last week at Shoptalk, eBay shone the spotlight on some big changes rolling out in the next year, from fast and guaranteed shipping, to recent endeavours in artificial intelligence, fashion shows and ShopBot Beta.
Amazon’s plans have been laid out according to a former Amazon executive, Bittain ladd, who has also revealed a launch date.
“While some of our competitors have leveraged our lack of marketing to get slightly ahead, we believe that the race is far from over. Timing is everything and sometimes keeping your powder dry and letting others grow the market for you is the best strategy,” says Dean Taylor.
There is speculation that department store Myer may be the subject of a takeover, following a 20% hike in share price on Monday afternoon.
Oroton has announced a strategic partnership and 30% equity investment in rapidly growing personalised accessories brand The Daily Edited, which will open it to a younger market segment and accelerate its online offering further.
One third of retailers in Australia aren’t aware of the potential threat of Amazon shoring up this year, leaving them unprepared to compete with the e-commerce giant, according to a new report from Commbank.
Facebook has unveiled its new shopping ad format called “collection” today, to help retailers showcase their products better to mobile shoppers. Adidas and Tommy Hilfiger have already started using it.
Collapsed retailer Pumpkin Patch has been given a new lease of life, with Catch Group today announcing it has acquired the company’s brand and intellectual property assets, and will be launching a new online store for the kidswear label in July this year.