The Chinese tech giant is dealing with scrutiny over the Ant Group and allegations by watchdogs of being a monopoly. Alibaba is building a “rectification plan” for its fintech affiliate Ant Group after it pulled its $37bn IPO last November following pressure from regulators.
In its latest quarterly earnings, Alibaba said there have been “significant changes in the fintech regulatory environment in China” after regulators halted the listing of Ant Group with questions over the business’s operations. The retrench was a major blow for the fintech business, which was due to list in both Shanghai and Hong Kong in what would have been a record public listing.
Ant Group, which runs Alipay, was originally founded as part of Alibaba Group. It was spun out in 2014 but Alibaba owns around one-third of the fintech business. Alibaba has attracted growing scrutiny in its home market from authorities. Competition watchdog, the State Administration of Market Regulation (SAMR), launched an investigation into Alibaba in late December over alleged anti-competitive practices.
“We have established a special taskforce with leaders from our relevant business units to conduct internal reviews,” the company said in its latest earnings report. “We will continue to actively communicate with the SAMR on compliance with regulatory requirements.
The regulatory hurdles haven’t dampened the company’s balance sheet though. It reported a 37pc increase in year-over-year revenues with fourth quarter earnings of RMB 221bn, about $33.9bn, and a net income of nearly $12bn.
Singles’ Day, a sales event on Alibaba and its competitor JD that is akin to Black Friday, boosted revenues for the company, reportedly seeing $74.1bn worth of orders sold through its platform during that period.
It has 779m active annual users in China as of December 2020, adding 22m users in the fourth quarter. The lion’s share of its business is in China but it marked gains in its international retail and wholesale business. The retail gain was attributed to Lazada, its e-commerce site active in south-east Asia, and Turkey’s Trendyol.
“The increase [in international wholesale] was primarily due to increases in both the number of paying members and average revenue from paying members on Alibaba.com, as well as an increase in revenue generated by cross-border related value-added services,” the company said.
Days after Jack Ma’s Alibaba was slapped with a staggering $2.8bn anti-monopoly fine, its fintech affiliate Ant Group has committed to a sweeping set of reforms in terms of how the company does business to appease Beijing. The central bank, the People’s Bank of China, said today (12 April) that the company – which is a spin-out of Alibaba – would restructure as a financial holding company.
It marks a sea change for China’s largest tech companies, which have been able to grow domestically with few restrictions, allowing China to develop several major businesses that are on par with some of the US giants. That heady growth hit a stumbling block in November, when Ant Group put the brakes on its IPO after pressure from authorities. At the time it was tipped to be the largest ever IPO, raising $37bn.
It is believed that Ant Group drew the ire of authorities after Ma made critical comments about financial regulators during a speech in October. With Ant Group restructuring as a financial holding company, it will be subject to much stricter regulatory controls and must hold higher levels of money in reserves – all moves that will ultimately affect its bottom line.
Minmetals said on Monday that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the matter. In December 2015, subsidiaries of China Minmetals and Alibaba jointly announced their cooperation to build an e-commerce platform for steel. (Reporting by Sophie Yu and Tony Munroe, editing by Louise Heavens)
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Combine a pandemic that’s kept us cooped up indoors with an unusually cold winter and what do you get? A perfect recipe for some highly questionable online impulse purchases. Maybe you can’t stop hunting for a cocktail dress to wear at those summer weddings you may-or-may-not attend.
Or maybe you suddenly find your AmazonBasics kitchenware lacking in comparison to the celebrity chefs you’ve taken recipe inspiration from. Either way, if you feel like your online shopping has been more out of control than usual, you’re not alone: Consumer spending on e-commerce platforms shot up 44% over the past year, according to information from the U.S. Commerce Department.
Financial experts will tell you that if you want to curb unnecessary spending, you need to unsubscribe from marketing emails, block websites, and delete your credit card information from your browser. It’s sound advice that does the trick for many — but sometimes these tips can backfire or simply not go far enough. (Not to point any fingers, but this author may or may not have accidentally memorized her own credit card number from manually typing it in too many times.)
So if you’re a fellow member of the credit card memorization club who’s still spending more online than you’d like to, then you may need to replace easy hacks with more long-lasting habits rooted in behavioral psychology.
“I don’t think [easy hacks] are nearly as helpful as understanding why you’re doing it in the first place,” says Brad Klontz, a financial psychologist and certified financial planner. Here’s what to know about the psychology behind impulsive shopping and how to use that knowledge to create better habits.
Be conscious of your decision-making process
Most people would like to consider themselves rational beings, making decisions without letting their emotions get in the way. But behavioral economists have some harsh truth: that simply isn’t true. And when it comes to shopping, external players are actually encouraging you to act irrationally.
“Marketers are experts at triggering you emotionally to get you to spend your money,” Klontz says. In the digital age, where everywhere you click is seemingly a never-ending maze of email alerts and carousel ads, it can be downright impossible to avoid getting wound up, worrying you might miss out on a great deal.
“When we become emotionally charged, we become rationally challenged,” Klontz says. “Our prefrontal cortex becomes impaired.”
The prefrontal cortex is the area of your brain responsible for decision-making, and engaging it to get ahead of what triggers you to spend requires vigilance. Luckily, while the prevalence of online shopping can hinder peoples’ ability to think rationally, it also offers benefits that you can’t take advantage of in-store. Tricks like letting your cart sit for 24 hours or disabling alerts from stores can force us to reflect on whether or not it’s a good spending decision.
But managing your decision-making works best when you can individualize the experience. One way to do this is to take stock of what tends to be your go-to categories for impulsive spending and create specific parameters for what makes a purchase justifiable. For example, if shoes are your vice you might ask yourself: Can I wear them with X amount of outfits? Do I already have a similar pair that serve a similar function? Will they last for more than one season? And so on.
If you can honestly answer whatever questions you decide are important with qualifications that make spending the money worthwhile, then you’ll be less likely to cave when presented with the opportunity to make an impulsive purchase.
Train your brain to prioritize long-term gains…
What does buying a brand new KitchenAid mixer have to do with your ancestors foraging for berries to keep from starving? A lot, actually.
“So much of what we do around money and life relates back to what I call our ‘cave person’ brain,” Klontz says.
No, we don’t need to stockpile months’ worth of resources to protect our clan from outside threats, but the biological drive that motivates these survival behaviors appears to have a hand in the way people make shopping decisions.
Animals — including humans — have reward centers in their brains that respond to the “feel good” hormone dopamine when they acquire something they want or achieve a goal. Using that heightened sense of reward to your advantage by reorienting your priorities from buying something new to meeting more essential long-term financial goals could be the key to curbing unnecessary spending.
Klontz suggests those who find themselves overspending take stock of their overall financial health first and set goals from there: “Most people aren’t paying themselves first. That’s where the problem arises.”
Many financial advisors encourage people to follow the 50-30-20 breakdown: put 50% of your net income toward living expenses, 30% toward discretionary spending (aka fun money), and 20% into savings. If that last category isn’t up to par or you aren’t contributing a substantial amount to a retirement plan, Klontz says it should be your top priority before any unnecessary lifestyle upgrades.
But working to build a strong savings can still satisfy our natural inclinations to gather and protect — it just requires training. According to research from Santa Clara University, while a small portion of people have a genetic predisposition to save more due to a stronger link between their short-term and long-term thinking processes, the majority of us can get there by gradually rewiring our brain to prioritize long-term outcomes over short-term gains. The researchers found, for example, that when people were given tools to help them pre-commit to put more money in their savings accounts months in advance, they were more likely to accomplish the task and feel more positive about saving rather than spending.
Financial goal-setting apps that track your saving progress like YNAB, Mint or a good old-fashioned spreadsheet can help you start to change the way you think about saving from a chore-like must-do to a goal you can continually look forward to.
… And earn your present-day rewards
If your financial house is in order, you’re meeting that 20% savings threshold and you still have money leftover, then “frankly, I don’t care what you do with the rest,” Klontz says.
But if you want to avoid accumulating a bunch of junk you won’t actually use — even if you have the money for it — then connecting the goal of saving for a big purchase to meeting goals in your personal or work life can deliver a powerful dopamine response more satisfying than making daily “trips” to Amazon.
Here’s how it works: Say you want to buy a $250 memory foam mattress topper, an upgrade to your current set-up that will get plenty of use. At the same time, you have to give a major presentation at work in two weeks that requires extra attention each day to prepare for it. If you set aside $25 every day you work on the project, you can time an exciting purchase alongside the completion of the presentation. The delayed gratification and association between a higher level of effort with a higher reward can train you to prioritize long-term satisfaction over a short-term thrill.
Another option is to keep a list of spending ideas that come to you throughout the day — but don’t go browsing for them yet. When you browse or even let something sit in your cart for a few days, Klontz says you’re more likely to be blasted with advertisements and price change alerts specifically designed to trigger feelings of scarcity, which can influence people to make choices they usually wouldn’t.
Instead, jot down every potential purchase that comes up throughout the week and pick a dedicated day to comb through them to decide if you want to fork over the cash. Putting some distance between when the idea strikes you and when you actually hit ‘buy’ allows you the time to think through spending decisions and compare which items on your list will be most valuable to you.
If your finances are secure, there’s no need to deprive yourself of a fun splurge every now and then. It’s just about knowing how to keep yourself in check when faced with tempting offers.
With online shopping and the availability of shopping apps and more, it’s harder than ever to avoid impulse buying things you might not need. Here are some things I’ve learned that have helped me reduce impulse buying in my own life.
Over 30? Then you had better read on. Shein may not be a household name like e-commerce giants, Alibaba BABA-0.4%, Taobao, or JD.com, but as China’s newest retail Decacorn, its mystery-shrouded low profile is matched only by a single-minded ambition to become a global fast-fashion retailer.
Founded in 2008, Nanjing-based Shein is aimed squarely at Gen Z, luring young shoppers via Instagram and TikTok influencers and a barrage of discount codes for low-cost styles – with a dress costing just half that of a Zara equivalent, according to Societe Generale – uploading new products online in their hundreds every week.
Yet beyond its teen audience, ultra-publicity shy Shein remains largely unknown. But that anonymity could all be about to change after the Pearl River-based company became a surprise potential bidder for ailing U.K. fashion group Arcadia. While it failed in that attempt, the message is clear: Shein is ready to take on Main Street.
The story really starts at the beginning of 2012, when notoriously hard-working founder and CEO Chris Xu (sometimes known as Yangtian Xu) – an American-born graduate of Washington University – gave up his wedding dress business to acquire the domain Sheinside.com. Initially selling women’s clothing, in 2015 he renamed the company Shein, focused on overseas markets, and began snapping up fashion rivals.
Remember that age/awareness divide? Well, in the week starting September 27, Shein was apparently the most downloaded shopping app globally on iPhone, according to analytics platform App Annie. It ranked in the top 10 in the U.S., Brazil, Australia, the U.K., and Saudi Arabia.
To service the U.S. market, products are sent from Shein’s warehouse in Foshan, Guangdong province, to a warehouse near Los Angeles, Ca., and fulfillment can take over ten days, glacial by Amazon Prime’s AMZN+0.5% next-day delivery standards. But its affordability has ensured a loyal customer base, lured by an ever-changing roster of women’s clothing and accessories added at an average of 2,000 SKUs every day.
Shein is obsessed with identifying hot searches and trends in different countries to predict the colors, fabrics, and styles that will be popular, with an even faster cycle than Zara owner Inditex. It then promotes heavily with Instagram- and Weibo-friendly imagery, for accessible and attainable fashions across all its social platforms.
However, Shein’s ascent has not been without its problems. In July it was roundly condemned for having a swastika pendant available (an error for which it profusely apologized), while paid-for posts from celebrities and fashion influencers have elevated the brand’s image as well as slowly rebutting its low–cost, low–quality rap. The label even managed to sequester stars like Katy Perry, Lil Nas X, and Rita Ora for its May 2020 #SHEINTogether global streaming event.
The Emergence Of A Global Fashion Player
All this remember for a company that didn’t even have its own supply chain before 2014, preferring to buy directly from Guangzhou’s Shisanhang Garment Wholesale Market. However, faced with soaring demand, Xu created an in-house design team and within two years had assembled an 800-strong army dedicated to designs and prototyping for ultra-fast production. It also garnered a reputation for timely payment, something of a rarity in China, and as a result when Shein moved its supply chain operations center from Guangzhou to Panyu in 2015, almost all of the factories it worked with relocated.
In the same year, Shein entered the Middle East and sales soared, with revenues in 2016 rising to $617 million and exceeding $1.5 billion the year after.
Shein and the hundreds of factories that work with the company have coalesced in a production cluster bearing close similarities to A Coruña in north-east Spain, where Inditex’s headquarters are surrounded by its upstream and downstream suppliers. It has four R&D facilities in Nanjing, Shenzhen, Guangzhou, and Hangzhou, plus six logistics centers in Foshan, Nansha, Belgium, India, and on the East and West Coasts of the U.S. It also has seven customer service centers, based out of Los Angeles, Liege, Manila, Yiwu, and Nanjing, and employs more than 10,000 people.
Future plans are thought to include the development of new businesses in mobile payments, supply chain finance, advertising, and, of course, opening brick-and-mortar stores. Whatever happens, it’s likely to do it ultra-fast.
I am a global retail and real estate expert who looks behind the headlines to figure out what makes consumers tick. I work as editor-in-chief for MAPIC and editor for World Retail Congress, two of the biggest annual international retail business events. I also organise, speak at, and chair conferences all over the world, with a focus on how people are changing and what that means for the retail, food & beverage, and leisure industries. And it’s complicated! Forget the tired mantra that online killed the store and remember instead that retail has always been dog-eat-dog: star names rise and fall fast, and only retailers that embrace the madness will survive. Don’t think it’s not important, your pension funds own those malls!
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If there was a “stock of the century” award, Amazon (AMZN) would be the favorite. Since 2001, AMZN has rocketed above $3,300, turning every $1,000 into just shy of $600,000.Obviously, anyone who got into Amazon early and held on is living the high life and deserves a round of applause. But now, it’s time to come to terms with a sad truth: Amazon’s glory days are over.
Because it has finally met its match. And it’s all because of one simple reason: It finally has legitimate competition.
Below, I’ll show you the three companies—what I call the “anti-Amazon” alliance—all coming for Amazon’s throat. All are rapidly stealing key parts of Amazon’s business. And all will prove to be much better investments in the coming years… Recommended For You
And its new “secret weapon” Walmart+ could dethrone Amazon’s online dominance. Amazon launched its wildly popular Prime delivery service 15 years ago. Today there are more Prime subscribers than there are full-time workers in America!
Creating an “everyday goods” subscription with free delivery was genius. Why would members ever shop anywhere else when they can click a button and have practically anything show up on their doorstep in two days? In short, Prime transformed Amazon from an $18 billion internet retailer into a $1.5 trillion beast.
Walmart+ is a total game-changer. Walmart will sell over $75 billion-worth of goods through Walmart.com this year. In fact, it’s overtaken eBay to become America’s second-largest online seller.
The thing is, roughly 90% of sales still happen in-store. Walmart+ is going to transform Walmart into a true online behemoth.
The subscription will cost $98 a year, and include perks like unlimited same-day delivery, access to its new two-hour delivery offering, and discounts on fuel at Walmart gas stations. Clicking a button on Walmart.com and having groceries and other items show up on your doorstep the same day is huge.
Leading market research firm NPD Group tracks millions of online and in-store receipts. And its research shows 95% of US consumers shopped at a Walmart store last year. That’s roughly 225 million people.
I expect at least 10% of consumers will jump at the chance to sign up for Walmart+. And once these folks are “locked in,” they won’t want to shop anywhere else. In short, this will add hundreds of billions of dollars to Walmart’s value over the coming years. I believe the stock will double over the next 18 months.
An Army of Small Businesses Are Moving Online
Shopify (SHOP) is what I call the “anti-Amazon.” It helps entrepreneurs create and manage their own online stores.
Think of Shopify like an invisible partner that allows you to build your own brand. Regular RiskHedge readers know it now runs websites for over one million mom-and-pop shops.
There are 30 million small businesses in the US. These small businesses make up 99.9% of all companies in America. They are the beating heart of communities across the country. And according to IRS data, firms with less than $100,000 in annual sales raked in a combined $2.2 trillion last year.
Yet almost none of this happens online. A recent CNBC poll found almost half of small businesses don’t even have a website. And according to Gallup, two-thirds of mom-and-pop stores that sell online generate less than 10% of their sales on the internet.
But coronavirus lockdowns have sparked a once-in-a-lifetime shift. It forced tens of millions of businesses to close their doors for months. And the only way to keep cash coming in is to sell online.
In short, mom-and-pop shops moving online for the first time ever is the next great internet boom. And they’re choosing to sell through Shopify over Amazon. In 2012, it had just 42,000 merchants. Today, more than 1,000,000 businesses around the globe have set up an online store with Shopify.
This is the world’s most disruptive retailer that most investors aren’t paying attention to. It’s a stock to own for the next decade.
Here’s the Disruptor Amazon Can’t Compete With
Etsy (ETSY) is another member of the “anti-Amazon” alliance.
Etsy is an internet marketplace for artisans selling handcrafted, one-of-a-kind items. You’ll find everything from vintage jewelry… to solid wood picture frames… to custom wedding invitations on the website. It’s essentially a department store for craft goods.
In short, Etsy has become the “go-to” for artisans selling online. It currently has 65 million items you can’t find anywhere else. For example, my cousin recently bought my grandmother a family tree on Etsy. It was custom-made with all the grandkids’ names
And unlike buying stuff at big box stores, which is a chore, spending money on Etsy feels “good.” You can click on each item and read the story behind the person who made it. In short, it’s rewarding to know your dollars are going into the pockets of small businesses.
For example, my colleague just bought a $400 laundry rack on Etsy. He could have picked one up on Amazon for 50 bucks. When I asked why he bought one on Etsy he replied, “A woman in rural Maine handmade the rack. It feels good having it in my home.”
The Amazon machine simply can’t compete with this. In fact, becoming the “Amazon for artisans” is Etsy’s big opportunity. Roughly $5 billion worth of craft goods were sold through its marketplace last year. Yet the Association for Creative Industries shows folks in these markets spent $100 billion on handcrafted and unique products last year.
So Etsy has only realized 5% of its potential so far. It has years—even decades—of rapid growth left in the tank. As it helps millions of artisans sell their talents to the world, it’s sure to become an online titan. This is a stock that can double many times over in the coming years.
Amazon Won’t Dominate the Next 20 Years of E-Commerce
Amazon has been one of the most dominant, disruptive stocks over the past two decades. And it will continue to be a major force in online shopping. But its time as America’s undisrupted online king is drawing to a close.Disruptors like Walmart, Shopify, and Etsy are nipping at its heels. And I’m betting these three stocks will outperform Amazon over the coming years.
I’m a professional investor and the chief analyst at RiskHedge, a disruption research firm. My team and I hunt for under-the-radar “disruptive” companies that are changing the world and making investors rich in the process. Get my latest analysis at RiskHedge.com.
The data isn’t pretty. In 2016, the average cart abandonment rate was a whopping 77 percent. Then in 2017, it rose to 78 percent. Now, though the data’s not yet in for the entirety of 2020, for 2019, it was 79 percent.
As far as online shopping goes, every ecommerce store has a cart-abandonment problem. And some of those lost shoppers simply can’t be converted — they weren’t all that interested in the first place, and no matter what you say, they’re not going to finish their purchase.
But some of them can, which is why having an effective cart abandonment email is so important. More than 40 percent of cart abandonment emails are opened, 50 percent of those opened emails are clicked, and 50 percent of those who clicked ultimately purchased.
Still, how can you stop reasonable consumers — the ones who actually want to purchase — from bailing in the first place? Here are the top five reasons that people abandon their shopping cart. And fortunately, each one is pretty easy to fix on your end.
1. Unexpected Shipping Costs
According to 2017 research by Baymard Institute, the number one reason (by a long shot) that people abandon their shopping cart is because of unexpected fees, taxes or shipping costs.
If you’re a reasonable consumer yourself, then that isn’t all that surprising to hear. Imagine going through the checkout process on an ecommerce site for something you authentically want to buy and, when you’re just about finished, that product is more expensive than it said it was going to be. There’s no getting around it; that puts a bad taste in the shopper’s mouth. It makes them feel like they’re getting nickled-and-dimed, hoodwinked and bamboozled.
Fortunately, there’s an easy fix: Don’t wait to surprise people with shipping costs, taxes or other fees until the end of the checkout process. Just include all of those costs in the original price of the product. That way, when someone is about to click “Submit Order,” there’s no undelightful surprises that might derail their conversion.
The second most common reason that reasonable consumers abandon their shopping cart is that the site requires them to create an account. To understand why that is, you have to understand what is going through the consumer’s head at the time of conversion.
When they click “Checkout Now,” they want to purchase the product. The best thing you can do is get out of their way. Redirecting them to a page that says, “Create Your Account Now!” isn’t just abrasive, it’s also totally irrelevant to what they wanted to do (i.e. buy a product).
So ditch the mandatory account-creation (or add a “Check Out as a Guest” option), and just get their email address at the same time you get their shipping information. Most people won’t mind, so long as it feels like a natural part of the checkout process.
3. Poor User Experience
We now arrive at the third and perhaps the most irritating of reasons that consumers abandon their online shopping cart — namely, because the checkout process is too long, clunky or confusing. Shockingly, 28 percent of people abandon their shopping cart for this reason.
When someone wants to buy from you, let them buy from you. Make it as easy as possible. During the checkout process, don’t require them to enter unnecessary information, don’t add survey questions, and don’t complicate what should be a fairly simple transaction.
You can get more information from them later after they’ve finished their purchase. For now, make everything as smooth and seamless as possible.
If you’re dealing with technical difficulties (20 percent of people abandon their shopping carts because the website crashed), then do what you need to do to get the problems fixed, even if it costs some money. You’re losing money by not fixing a clunky checkout process, anyway.
4. Payment Security Concerns
Someone might love your product, they might love your site, and they might be ready to purchase right now. But if they don’t trust your site with their payment information, they’re not going to finish their purchase. Nineteen percent of people abandon their cart because they didn’t trust the site with their credit card information.
Even though you know your site is safe, it can help to offer some proof to the consumer during the checkout process. In fact, ConversionXL did some research on what kind of security badges help conversion the most and they found that PayPal, Norton, Google and BBB Accreditation badges are the most trusted by buyers.
Why not add one (or several) of those to the payment page of your checkout process and see how it impacts your conversion rate?
No ecommerce business likes to get returns. If returns just stopped being a thing one day, most entrepreneurs would probably be perfectly fine with that. Alas, no matter how you slice it, returns are a thing, and living in denial will do nothing but make your cart abandonment rate worse than it needs to be. Believe it or not, 11 percent of people leave a site before finishing their purchase because the return policy wasn’t good enough.
Is yours good enough? If you don’t offer at least the bare minimum for today’s online shopping world — a 30-day, money-back guarantee — then your policy is probably hurting your conversion rate. And what else are you doing business online for?
In a world where fast fashion is king, and your next killer closet staple is available through the click of a button, offering trendy styles at cut-rate prices has become a global retail standard.
The internet has made the retail world smaller and offered shoppers a world-wide marketplace where they can find cheap deals on all kinds of fashion, electronics, and home products.
Multiple e-commerce retailers are working to earn your dollars by promoting deep discounts on trendy clothing and on-style accessories to build a wardrobe on a budget. One of the popular sites taking advantage of this shopping trend is NEWCHIC.
If you love a good deal on new, chic clothing, then the banners offering women’s fashion starting at $2.99 and shoes for 70% off will definitely catch your eye. But, how much can you trust these rock-bottom prices?
Newchic is a legal online fashion company found in 2015. They have both registered website and app. They even got their official Youtube channel, ins, FB and other social networking accounts. This website is a kind of one-stop website with products ranging from men and womens clothes,shoes, bags, accessories, beauty to home& garden.
I believe a scam company won’ t be so professional and usually they won’ t let you find them easily. As for Newchic, it is obviously not that kind of company. Whey you do online shopping, things may happen that you got clothes or shoes with wrong sizes or wrong colors. Just tell their customer service your problems and they will find a solution.
Banggood has been running for more than ten years in China and has accumulated a wealth of supply chain resources. Their products are sourced from a network of trusted suppliers in 100+ regions of China to ensure only top quality products are offered.
All products undergo supplier review, arrival inspection, after-sales feedback monitoring , and are tested to strict quality control standards. Banggood has 37 overseas warehouses covering all regions of the world, this network allows you to order locally and receive your items lighting fast.
Banggood has partnerships with many professional international shipping companies to offer fast and convenient door to door delivery to more than 200 countries. Banggood offers more than 40 different secure payment methods, from Cash on delivery to Credit card,your payment is safe, secure and convenient.
If one or more of the items you received are damaged, different, or not working, you will be protected by this Guarantee. Please contact us for Return Material Authorization within 7 days of the order being received. After returning the product to the address provided by our customer service team, we can send you a new item free of charge (we will reimburse you the return shipping cost), or you can choose to receive a full refund.
If you are not satisfied with your purchase and the product is still in brand new condition, we can arrange a partial refund, which will cover the price of the item minus the shipping fees. You will be responsible for paying the return shipping fees.
Please contact us for Return Material Authorization within 30 days of the order being received. Note：Items such as underwear / swimsuits are not covered by this guarantee due to hygiene considerations. If you need help, you can check the Apparel Return Process below, or contact us.
If there are quality problems in some categories of products, you can get a refund or exchange up to 180 days. You can contact us to learn if the product is in this category. Note: Due to its nature and intended use, clothing, shoes, bracelets, decorations, phone and tablet accessories, household gadgets, home decorations, RC toys, home textiles, and other similar items are not included in this warranty period. For other product details please contact us or reference other warranties.
It’s December 24th. Last minute arrangements for visiting family are being made, menus for Christmas are taking shape or beginning to cook, and about 25% of men are in a mall doing their Christmas shopping. Not finishing their shopping, but doing all of it. And if you’re like a lot of women and men in their lives, you’re at home reading this wondering why on earth they waited until now. It’s not like they haven’t known when the holiday is or somehow missed advertisements letting them know Christmas was approaching.
While I don’t want to perpetuate out-of-date gender stereotypes, there is research to suggest gender differences really exist in how people approach shopping – both physically and mentally. In fact, according to the Journal of Consumer Marketing females, compared to males, are found to start Christmas shopping much earlier, purchase more gifts, and embark on a greater number of shopping trips.
So before you get upset (or maybe that’s why you’re reading this to gain some insights), know that research and behavior patterns have shown that many – if not most – of procrastinator shoppers have not been thoughtless or lazy. In actuality, they have rational reasons and thoughts around waiting until the deadline.
Here are some characteristics and thought processes of those last-minute shoppers:
Perfectionists: This person is the one who might spend hours comparing items or make lists and spreadsheets of the options and comparative details. We live in a world of limitless possibilities, and only the right ring, blender, or gravity blanket will do. By setting such high expectations and comparison shopping, the experience really can become much more difficult than the execution. What this ultimately means is that your partner needs suggestions and guidance. They are making it much harder than they need to – not because they don’t care, but in fact, the opposite – because they want it to be just right. Think of this person as letting great be the enemy of good.
Oh! The Dread: The definition of dread is the anticipation of apprehension or fear. And the truth is, men enjoy the experience of shopping far less than women. Males tend to be pragmatic shoppers, defining success as getting exactly what they came for, efficiently. Inherently implying that they want an in, out, success situation.
Females on the other hand tend to visit more stores, spend more time comparing, and often come back later to get what they decided on. It’s not that these males dread being thoughtful or giving a gift, but the not knowing what to get, how long it will take, and all the hassles that go along with selecting just the right thing.
Procrastinators (AKA Optimists?): We all know that putting things off has different effects on different people. Some of us love the final push before a deadline; others get overwhelmed by the anxiety of pending deadlines. Procrastination often comes from a mistaken assumption that in the future someone will be in the right mindset to complete a task – overestimating the motivation they will have.
This can certainly be a product of dreading shopping, not wanting to deal with people in stores, or what is known as planning bias or planning fallacy. Think of it as the effect of underestimating how long an activity will take. Or overestimating how much you can accomplish when put to the test. And we know that holiday shopping can be a difficult test.
Scheduling: We live in the time of “busy.” Everyone is busy, like it’s a status symbol. But a lot of people really do find themselves slammed with end-of-year obligations, work, and to-do list items – which includes holiday shopping. And like many tasks that can take up a lot of time and energy, it’s easier to put those off to tackle the few emails in front of you or become paralyzed by the number of items to get done and complete none of them. People who do this most likely really care about the task (ie: gift) and the person receiving it, and thus the idea of taking it on becomes a matter of time management.
Love Languages Aren’t The Same: We’ve all heard of the 5 Love Languages written by Dr. Gary Chapman, and we all fall into a couple (or few) of the categories: Quality Time, Words of Affirmation, Physical Touch, Acts of Service, and Receiving Gifts. But according to the Good Men Project, even Dr. Chapman, concedes that “it may be true that more men have Physical Touch and Words of Affirmation as their love language and more women have Quality Time and Gifts.” Thus, gifts simply may not mean to men what they do to women – giving or receiving.
Adrenaline Rush: Procrastinators who thrive on deadlines will know this feeling well. “I work better under pressure” is a statement many people recognize in the workplace, but that mentality can also spill into other areas. In fact, according to research, procrastination can become an addiction due to the short-term rewards of putting off a task we don’t want to complete and the rush of adrenaline we get when we’re up against a doom-filled deadline.
While it can be fun for some to run around in the final hours before said deadline, one way to work past this is to set small backwards calendars. For example, think about how many days in advance something has to be purchased to arrive on time. Or what’s the last day it can be delivered to your office so no one at home sees the gift?
Nicole Fisher is the founder and President of Health & Human Rights Strategies, a health care and human rights-focused advising firm in Washington, D.C. She is also a global health policy advisor on Capitol Hill and expert on health innovation, technology, and brain health – specifically as they impact vulnerable populations. Fisher contributes to Forbes, contextualizing health, and highlighting ideas, companies and people that are changing the health landscape. She also curates an international dinner series, ‘A Seat at the Table,’ bringing together thought leaders for off-the-record discussions for moving research, policy and planning forward. Fisher is pursuing a doctoral degree at the University of North Carolina. Her writing has appeared in numerous journals and publications, and her talks can be found on the United Nations website and various news and sports outlets. Before pursuing her doctorate, Fisher earned a master’s degree in public policy from the University of Chicago and an undergraduate degree from the University of Missouri.
When the company opened the seven-floor store at 57th Street and Broadway in Manhattan this October, it made sure service was at the forefront of the brick-and-mortar establishment. Though I don’t have any business ties to Nordstrom, I study retail markets and am always curious about how the latest brick-and-mortar store trends impact online shopping and e-commerce growth.
Here are some interesting retail innovations inspired by Nordstrom’s flagship store–and other retailers–that you can apply to help your brand.
1. Create opportunities to spend time in the store.
The new Nordstrom location offers in-store spa services like blowout bars, facials, massages, waxing, manicures, and more. Offering services like these–and a martini bar and sit-down eateries–keeps customers in the store longer, making them likely to spend more money, according to a Journal of Marketingstudy.
Look for ways your company can create more in-store experiences that align with your brand, like how Lululemon’s new Mall of America megastore features workout studios, snack bars, and a 6,000-square-foot “experiential area.” Those could involve booking appointments online to try on clothes, providing an in-store café (à la Ikea), or hosting product demonstrations and interactive experiences, like Lush.
2. Create a seamless omni-channel experience and provide multiple ways to get products.
Nordstrom says its online sales jump about 20 percent in a local market when it opens a store there. That, in my opinion, is because of the company’s buy online, pick up in-store options, as well as its offering easy curbside pickup.
Customers want a full-service experience from the moment they walk in the door. If you’re a clothing retailer, one way to do that is to create smart fitting rooms. That can be as simple as creating a button customers can push that calls a sales associate, or it can be as advanced as the smart-mirror fitting rooms at Ralph Lauren’s flagship store, which show various sizes and colors available for items. Luxury beauty companies are testing out AR in airport pop-up shops around the globe, enabling customers to play with virtual makeup in trials through virtual mirrors.
Black Friday 2019 is running one week later this year. The big day will begin on November 29, the day after Thanksgiving. But, despite this late start, many Black Friday deals will start running in early November (in fact, some great ones are even live now). So here is your definitive guide to Black Friday 2019 sales times for Amazon, Best Buy, Target And Walmart. Be prepared.
Pre-Black Friday Sales Are Starting Now
As mentioned, the first Black Friday sales have already started and Best Buy currently has some of the best AirPods deals you’ll find this year. I still expect the majority of sales to start on 1 November (Amazon is famed for its month-long Black Friday shopping) but Best Buy has already tempted other major retailers to break ranks early. Walmart, for example, will start some solid deals tomorrow (bookmark my page to know when they go live) and I expect the damn will then burst.
Best Buy Black Friday 2019: Here Are The First Deals
Despite all these pre-sales, most in-store sales are unlikely to start until Thanksgiving Day, though online Black Friday sales will begin as early as Monday, November 25. Here are my predictions for when the most popular retailers will start their sales.
Amazon – I expect Amazon to start its ‘Countdown to Black Friday’ sale on November 1. It will probably begin its ‘Black Friday Week’ event on Friday, November 22. Watch out for juicy Apple deals this year but otherwise, I recommend holding off until Thanksgiving Day or Black Friday for the best doorbusters.
Best Buy – If prior years are any indication, Best Buy will start its in-store sale at 5pm on Thanksgiving Day in 2019. Previously it has closed at around 1 am on Black Friday morning before reopening at 8 am. The pressure is now on to stay open all night, but I suspect Best Buy could use a similar format this year to create some separation between its Thanksgiving and Black Friday sales.
Target – Target’s in-store Black Friday sale will begin on Thanksgiving Day at 6 pm this year. Online deals will be available all day on Thursday and Friday with some deals remaining live over the weekend. Target normally has an early-access event on the day it releases its ad scan, which should be around November 11/12.
Walmart – Sticking to tradition, I understand Walmart will start its in-store Black Friday sale on Thanksgiving Day at 6 pm. Despite pressure to go earlier, Walmart seems to be locked into this timeslot, but it will hold online Black Friday sales throughout Thanksgiving and Black Friday with most deals available across the entire weekend through to Cyber Monday.
I am an experienced freelance technology journalist. I have written for Wired, The Next Web, TrustedReviews, The Guardian and the BBC in addition to Forbes. I began in b2b print journalism covering tech companies at the height of the dot com boom and switched to covering consumer technology as the iPod began to take off. A career highlight for me was being a founding member of TrustedReviews. It started in 2003 and we were repeatedly told websites could not compete with print! Within four years we were purchased by IPC Media (Time Warner’s publishing division) to become its flagship tech title. What fascinates me are the machinations of technology’s biggest companies. Got a pitch, tip or leak? Contact me on my professional Facebook page. I don’t bite.
Why are we talking about the holiday’s in the middle of August? Because putting in the work to create Black Friday ads starts now – at least, if you want to succeed for the 2019 holiday season. Last year, we had incredible wins for our clients, but we started prepping in October. This year, we’re taking it a step further and planning our marketing strategy for Black Friday 2019 in the summer. Your first step in preparing your brand starts with learning from this video, where Taylor Holiday breaks down the three main marketing strategies we are laser-focusing on for the Black Friday shopping season. Stay tuned as we release weekly content about holiday advertising strategy and actionable steps you can take to win on Black Friday. Want more strategies for success beyond our awesome video content? Work with us at Common Thread! Learn more about how to scale your ads for the holiday’s here: https://commonthreadco.com/pages/contact