Alibaba Reports Strong Earnings As Regulators Take Action

An Alibaba app on a phone screen.

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.

.

.

The Chinese fintech titan Ant Group—co-founded by Alibaba billionaire Jack Ma—is set to go public in what could be one of the largest listings ever. WSJ explains how Ant’s backbone service, Alipay, has revolutionized payments and investing in the world’s most populous country. Photo Composite: Crystal Tai More from the Wall Street Journal: Visit WSJ.com: http://www.wsj.com Visit the WSJ Video Center: https://wsj.com/video On Facebook: https://www.facebook.com/pg/wsj/videos/ On Twitter: https://twitter.com/WSJ On Snapchat: https://on.wsj.com/2ratjSM
.
.

“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.

 

By:  Jonathan Keane

Source: Alibaba reports strong earnings as regulators take action

.

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.

Related Links:

Minmetals Development : China’s market regulator investigates Alibaba joint venture | MarketScreener
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)
0
Tencent pledges $ 7.7 billion to support China’s anti-poverty and environmental initiatives
exbulletin.com – Today
[…] the nation’s largest internet companies to root out any banned practices, two days after slapping Alibaba with a record fine of $ 2 […]
0
Programme revealed for TFWA Asia Pacific Hainan Special Edition – TFWA Asia Pacific Hainan Special Edition – 2021 | TFWA
[…] Alibaba, TripAdvisor, M1nd-set and Harding Retail are among the companies sharing their expertise […]
0
Significant Impact of COVID-19 on Gluten-Free Cereal in Food and Beverage Industry | Data Bridge Market Research
[…] in the global market have sorted to online distribution channels such as Tesco, Amazon, Alibaba, Baidu, Indiamart among others for movement of their products to their customers […]
0
2,082 Shares in Alibaba Group Holding Limited (NYSE:BABA) Purchased by Clear Harbor Asset Management LLC
Clear Harbor Asset Management LLC purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) in the 1st quarter, according to the company in its most recen […] Norges Bank acquired a new stake in shares of Alibaba Group during the fourth quarter worth approximately $5,713,083,000 […] Alibaba Group Profile Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses i […]
N/A
Master of Science Programs
[…] , Amazon, Facebook, Google, General Electric, Alibaba, etc […]
0
Six Business Growth Strategy Tools That Help Increase Scalability
goodmenproject.com – Today
[…] Fast-growing young entrepreneurial firms such as Google, Facebook, eBay and Alibaba hold dominant competitive positions and have market capitalizations of tens to hundreds of billions […]
1
Huawei launches intelligent driving system
[…] ” Huawei is among a raft of mainland technology behemoths such as Alibaba Group Holding, which owns the South China Morning Post, Tencent Holdings, Baidu and Xiaomi to ho […]
2
Huawei steps up smart car business with launch of intelligent driving system
[…] ” Huawei is among a raft of mainland technology behemoths such as Alibaba Group Holding, which owns the South China Morning Post, Tencent Holdings, Baidu and Xiaomi to ho […]
0
Corporate Giving Has Changed After the Capitol Riot, a Little – The New York Times
[…] deliberations come amid pressure from Beijing officials on his business empire, including Ant and Alibaba […]
1
China Yoga Sets Supplier,China Yoga Wear Manufacturers
[…] FAQ Q1: Why Choose S-Shaper? √ 24*7 After Sales Services! √ Quality is our Culture! √ Payment by Alibaba Trade Assurance! √ Full refund in case of bad quality! √ Free design service! √ With S-SHAPER you […] Q5:What kind of payment methods do you accept? We accept Alibaba Trade Assurance, PayPal, Western Union, Money Gram, T/T […]
N/A
Reddit, Pinterest & Alibaba Among World’s Highest Carbon Emissions Websites : technology
10.5m members in the technology community.Subreddit dedicated to the news and discussions about the creation and use of technology and its ……
1
Samsung expects its computer monitor sales to grow twofold
telegraf.id – Today
[…] such as Alphabet’s Google, Facebook, Amazon and Microsoft, as well as China ecommerce company Alibaba Group Holding, are racing to build data centres to monetise opportunities in the digita […] Alibaba has opened two data centres in Indonesia and plans to add a third […] Tencent was the fourth-largest provider in the Asia-Pacific cloud market after Alibaba, Amazon and Microsoft, according to a 2019 report by research company Gartner […]
1
Paytm Money makes it easier for investing in US tech stocks
[…] index and includes the original FANG companies + 6 tech leaders in the global Markets – Apple, Alibaba, Baidu, Nvidia, Tesla and Twitter […]
2
Tencent pledges $7.7 bln to support China poverty, environment initiatives
[…] the country’s biggest internet companies to eradicate any banned practices, two days after slapping Alibaba with a record $2 […]
N/A
Limitations and Benefits of Using Angular in Your Project
[…] Big players like Twitter and Alibaba were quick to switch to this all-encompassing form of a website and reaped huge benefits […]
0
Tencent : pledges $7.7 billion to support China poverty, environment initiatives | MarketScreener
[…] the country’s biggest internet companies to eradicate any banned practices, two days after slapping Alibaba with a record $2 […]
N/A
Tencent pledges $7.7 bln to support China poverty, environment initiatives | Technology
[…] the country’s biggest internet companies to eradicate any banned practices, two days after slapping Alibaba with a record $2 […]
0
Tencent : pledges $7.7 bln to support China poverty, environment initiatives | MarketScreener
[…] the country’s biggest internet companies to eradicate any banned practices, two days after slapping Alibaba with a record $2 […]
0
Clifford Chance > Paris > France | The Legal 500 law firm profiles
[…] Practice head(s): Dessislava Savova Key clients Alibaba Legrand AXA Next Eramet Oracle The Coca-Cola Company Airbus SMCP DISPUTE RESOLUTION: COMMERCIA […]
0
CPNG Stock Looks to Be Retreating, but It Hasn’t Fallen Far Enough Yet
investorplace.com – Today
[…] It was the largest IPO this year, and the largest foreign IPO since Alibaba (NYSE:BABA) […] Now, that’s not incredibly high when one compares this stock to fast-growing Alibaba (6 […] In other words, there’s no real value-based reason for owning this company over Amazon or Alibaba for those eager e-commerce investors out there […]
1
Turkish Competition Authority member employed by company she was investigating
[…]   Trendyol is owned by the Chinese online shopping company Alibaba, which was fined $2 […]
0
Cloud Computing Services for the Healthcare market valuation to surge at healthy CAGR through 2026
[…] Competitive dashboard: MicroSoft IBM Oracle Amazon Web Services GE healthcare Carestream Health Alibaba Cloud Agfa-Gevaert Google Cloud Platform Dell and Athenahealth Basic details of each company […]
N/A
Baillie Gifford’s Budden: We are not all about Tesla – and we are not all about tech either
[…] digital disruption thematic investment thematic investing e-commerce Electric Vehicles Zoom Alibaba Group Alibaba Amazon Tech stocks
N/A
News Rewind
fiveminutessst.com – Today
[…] Siemens also has similar smart factory partnerships with Amazon Web Services, Microsoft Azure, and Alibaba Cloud, all of which support its IoT and automation software for their cloud infrastructure […]
0
Thanks to China’s internet crackdown, Alibaba is finally on Tencent’s WeChat
kr-asia.com – Today
[…] ” Alibaba has not yet managed to put its Taobao Tejiaban mini program, which is also known as Taobao Deals […]
0
Flutter vs. Swift for iOS Apps: Which one is better in 2021? – CRYPTO CRYPTO NEWS
cryptocryptonews.com – Today
[…] Apps: LinkedIn SlideShare Lyft Firefox Eventbrite Apps built with Flutter Framework: Google Ads Alibaba Square Ebay Hamilton Musical Reflectly Groupon Cryptomaniac SpaceX Go Realtor […]
0
Quanzhou bonded area explores ways to promote development
fujian.chinadaily.com.cn – Today
[…] The area also cooperated with Alibaba Group to set up the e-commerce platform Lazada in November 2020, which is aimed at boostin […]
0
China’s Ant Eyes Options to Divest Founder’s Stake as Beijing Pressure Grows: Sources
[…] worth billions of dollars, could be sold to existing investors in Ant or its e-commerce affiliate Alibaba Group Holding Ltd without involving any external entity, one of the sources with company ties said […] Alibaba referred questions to Ant […] Hong Kong-listed shares of Ma’s Alibaba dropped as much as 1 […]
2
Pinduoduo becomes China’s largest e-commerce company- The Asian Banker
[…] has largest number of active users in China Pinduoduo has reached a milestone as it surpassed Alibaba in the number of registered users […] 4 million annual active users in its 2020 fourth quarter report, overtaking Alibaba as the largest e-commerce platform in terms of number of users which reported 779 millio […] Pinduoduo reported 720 million monthly active users, while Alibaba has over 902 million. This shows that Alibaba is still the largest e-commerce platform in China by revenue […]
4
freelancer app and mobile app ready made | Android | Mobile App Development | iPhone | PHP | Website Design | Freelancer
[…] com posting project is free, freelancer desenvolvedor de app mobile, freelancer mobile app alibaba, freelancer mobile app and web developers in dubai, freelancer mobile app designer, freelance […]
N/A
Tencent’s Ma pledges billions in aid amid growing antitrust drive
[…] scrutiny over the growing power and influence of China’s largest corporations from Tencent to Alibaba Group Holding, which received a $2 […]
0
Weekly Tech Round-Up | #16
peapletalent.com – Today
[…]   Read Article Alibaba: Chinese regulator slaps huge fine on tech giant The world’s biggest online retailer – China’s Alibaba – has been hit with a record fine equivalent to $2 […]
0
Online To Offline Commerce Market Prevalent Opportunities up to 2016 – 2024
industrytoday.co.uk – Today
[…] Online to Offline Commerce Market: Key Deals On December 2015, Alibaba group acquired South China Morning Post (SCMP) and other media assets of SCMP Group Ltd […] Alibaba Group Holding Limited, Amazon […]
0
Friday Q&A – Week 4 – Cost Control On Alibaba Cloud: Getting More For Your Dollar (Part 1)
[…] blog series! This week we will be focusing on a very important question: how to get the most out of Alibaba Cloud without spending a fortune! Cost Control: Starting From ECS Cost control on the public clou […] Right now, that includes: Alibaba Cloud NAS (except for “Extreme NAS” or “Infrequent Access NAS”) Alibaba Cloud OSS buckets (supports Standard, Infrequent Access, and Archive storage types) Alibaba Cloud ECS Disks (Enhanced SSDs, Standard SSDs, Ultra Disks, and Basic Disks, but not loca […]
0
Parler allowed back onto Apple’s app store – live updates
[…] worth billions of dollars, could be sold to existing investors in Ant or its e-commerce affiliate Alibaba  without involving any external entity […]
N/A
Daily Digest Of Tech Policy News And Updates (April 19, 2021)
[…] The country’s antitrust watchdog has fined Alibaba, also founded by Ma, for anticompetitive behaviour […]
1
1 in 2 Indian adults fell prey to hacking in last 12 months | India Post News Paper
[…] Alibaba’s Chinese billionaire Jack Ma again? TOKYO: Chinese billionaire Jack Ma and his company Alibaba are being hounded by Chinese President Xi Jinping again – third time in less than six months […]
0
Trip.com Group Opens 4.85% Higher on Hong Kong Trading Debut as China Anticipates Robust Rebound in Tourism
pandaily.com – Today
[…] that the so-called “homecoming” listings in the Asian financial hub have totalled $36 billion since Alibaba kicked off the trend with a $12 […]
1
S. Korean e-commerce firm Coupang seeks to hire senior execs in S’pore in first foray overseas, Companies & Markets News & Top Stories
[…] Bom Suk said the primary motive for listing in the United States was to “compete against Amazon and Alibaba” […] will be joining a host of other big e-commerce players here, including Sea’s subsidiary Shopee, Alibaba-backed Lazada, Amazon, and Qoo10, which was founded by a South Korean entrepreneur together wit […]
31
Hong Kong stocks end higher as healthcare, industrial firms rebound | Business
[…] However, tech giants weakened, with Alibaba losing 1 […]
3
Tencent : Hong Kong stocks end higher as healthcare, industrial firms rebound | MarketScreener
[…] ** However, tech giants weakened, with Alibaba losing 1 […]
0
Trip.com Group Shares Rise in Hong Kong Market Debut –
skift.com – Today
[…] The company is the 19th overseas-listed Chinese firm to launch a Hong Kong deal since Alibaba Group Holding began the trend in November 2019 […]
N/A
What’s next for Jack Ma’s Ant Group after China orders revamp?
[…] 8 billion fine is a huge relief for Alibaba HOW WILL ANT’S VALUATION CHANGE AFTER THE RESTRUCTURING? It is too early for analysts to come u […] READ: China’s big tech ‘rectification’ continues after Alibaba record fine  WHAT HAPPENS TO ANT’S PAYMENT BUSINESS? It is unclear how Ant is going to break up its […]
2
Six Color Flexo Printing Machine Offered By FusionTech International Near Vacoas-Phoenix Mauritius – FusionTech International Mauritius Mauritius
mu.fusiontechint.com – Today
[…] 986 711 We look forward to hear your feedback on the above product We have present on Indiamart, Alibaba, Tradeindia Six Color Flexo Printing Machine Supplier Near Vacoas-Phoenix Mauritius TAGS:  Si […]
N/A
Semi Automatic Electronic Bulk Liquid Filling Machine Offered By FusionTech International In Irapuato Mexico – FusionTech International Mexico Mexico
mx.fusiontechint.com – Today
[…] 986 711 We look forward to hear your feedback on the above product We have present on Indiamart, Alibaba, Tradeindia Semi Automatic Electronic Bulk Liquid Filling Machine Exporter Near Irapuato Mexic […]
1
Automatic Volumetric Liquid Filling Machine Offered By FusionTech International Near Islamabad Pakistan – FusionTech International Pakistan Pakistan
pk.fusiontechint.com – Today
[…] 986 711 We look forward to hear your feedback on the above product We have present on Indiamart, Alibaba, Tradeindia Automatic Volumetric Liquid Filling Machine Exporter Near Islamabad Pakistan TAGS: […]
1
Do You Need Safety Chuck For Tyre Industry In Szeged Hungary? – FusionTech International Hungary Hungary
hu.fusiontechint.com – Today
[…] We have present on Indiamart,Tradeindia and Alibaba check it out us on whatsapp : https://api […]
1
Trip.com up more than 4% in Hong Kong IPO, bullish on China travel in May
[…] -listed Chinese tech heavyweights such as Alibaba, JD […]
6
US Firms Said to Face Off With Indian Rival Paytm in Lobbying Data Storage Rules | Technology News
gadgets.ndtv.com – Today
[…] But the rules give a competitive advantage to Paytm, backed by Japan’s Softbank Group and China’s Alibaba, which already stores all its data in India […]
N/A

How To Use Psychology To Stop Your Impulsive Online Shopping

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.

By Kenadi Silcox

Source: How to Use Psychology to Stop Your Impulsive Online Shopping | Money

.

.

You May Like

Insurance

Why I Bought Life Insurance For My Young Children

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.
↓ more ↓ 🎤
Mentioned: Cait Flanders: http://www.caitflanders.com 📧 Join The Member Community: http://www.breakthetwitch.com/community ⚡️ Subscribe to Podcast: iTunes: https://goo.gl/Wo9tfP Spotify: https://goo.gl/YwQWVr Stitcher: https://goo.gl/9DkYzU SoundCloud: https://goo.gl/Zg3AYJ 📖 My Book: eBook: https://amzn.to/2JQxmgZ Audiobook: https://amzn.to/2Ia5tCr 📔 Read More On The Blog: http://www.breakthetwitch.com/

Is China’s Mysterious $15 Billion Fast Fashion Retailer Shein Ready For Stores

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.

PROMOTED Business Reporter BrandVoice | Paid Program Getting Ahead Of The UN’s Sustainable Development Goals Mitsubishi Heavy Industries BrandVoice | Paid Program What Does It Mean That America Is A Net Exporter of LNG? UNICEF USA BrandVoice | Paid Program In Mozambique, 90,000 Children Need Help In Wake Of Cyclone Eloise

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.

The U.S is now Shein’s largest market, while it also ships to 220 countries, with websites for Europe, the Middle East, Australia, and the U.S. Rapid growth has been propelled by a series of funding rounds, most recently completion of Series E financing in 2020, which gave Shein an eye-watering valuation exceeding $15 billion. Revenues are not disclosed but are locally estimated in excess of $10 billion annually and have continued to soar throughout the pandemic, while it currently counts a number of Asian and international VCs and private equity houses among its backers. MORE FOR YOUFashion’s Nightmare Before Christmas As Debenhams Joins U.K. CarnageAs GameStop Army Goes Global, U.K. Retail And Malls Among Most ShortedDr Martens Puts Best Boot Forward With Year’s First Big IPO

Shein: Fast Fashion, Made Ultra Fast

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.

Follow me on Twitter or LinkedIn. Check out my website

Mark Faithfull

Mark Faithfull

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!

.

Randomfacts by Shikhaa

Buy Shein similar style clothing on Amazon from below link: https://amzn.to/37KnH7Uhttps://amzn.to/314dxxEhttps://amzn.to/2BmAVMehttps://amzn.to/3dhw6kAhttps://amzn.to/2YgLj0Rhttps://amzn.to/3difjxFhttps://amzn.to/3djbYykhttps://amzn.to/2YTmeZ1​ Buy Shein similar style footwear on Amazon from below link: https://amzn.to/3fIZNfOhttps://amzn.to/37QkLXEhttps://amzn.to/3189Bfc​ Buy Shein similar style necklace on Amazon from below link: https://amzn.to/30XLIaphttps://amzn.to/2BpY4NEhttps://amzn.to/2UZ0n16https://amzn.to/3ekU7bK​ Here are few interesting and quick facts about Shein. SHEIN is an international B2C fast fashion e-commerce platform. It was founded in October 2008. The website offers a large range of women’s wear in apparel, men’ clothings, children’s clothes, accessories, shoes, bags and other fashion items. It has its customers from Europe, America, Asia, Australia, and the Middle East. It has business in more than 230 countries and regions around the world. Its primary office is in England.

Chris Xu is the Founder & CEO of SheIn and has an approval rating of 62 from Owler members. They have over 200 employees. Shipping takes 2-3 weeks. Please refer to customer feedback before taking the item. Sizes may also vary from each clothing item. Track Info: Title: Ukulele Artist: Bensound Genre: Pop Mood: Happy Download: http://goo.gl/qNeHBq​ Ukulele by BENSOUND http://www.bensound.com/royalty-free-​… Creative Commons — Attribution 3.0 Unported— CC BY 3.0 http://creativecommons.org/licenses/b​… Music promoted by Audio Library https://youtu.be/G7HoUVcL5-U​ ––– • Contact the artist: bensoundmusic@gmail.com http://www.bensound.com/https://twitter.com/Bensound

More Contents:

E.B.O.O.K. DOWNLOAD# Changing Clothes in China: Fashion, http://www.slideshare.net – February 13Changing Clothes in China: Fashion, History, Nation0

Chinese New Year Message from CI President James B. Heimowitz http://www.chinainstitute.org – February 11[…] And, garnering a worldwide audience, the China Beauty Charity Fund created the China Fashion Gala – One World in Beauty, a dazzling digital event benefitting China Institute, followed by a […]1

Decoding China’s Very Own Sales Cycle – wwd.com – February 10[…] take pride in making the most delicious and innovative Zongzi — even Starbucks and KFC sell them in China — fashion brands are mostly absent […]1

New York fashion week 2021 eclipsed by lunar new year in China | Fashion | The Guardian http://www.theguardian.com – February 5Relying on gift-buying Chinese consumers to boost Covid-hit sales, labels focus on Year of the Ox…2

Zhao Lei 2021 GQ China Fashion Editorial http://www.thefashionisto.com – February 4Following a tumultuous 2020, GQ China explores resilient archetypes, and one of the first to come to mind is the American cowboy.Therefore……2

Explorer#Fashion#Super model 2021 http://www.easybranches.com – February 4[…] academy, b fashion hair amazon, b fashion hotel taman anggrek, b fashion hotel jakarta, fashion china, fashion channel, fashion curvy, fashion mumblr q&a, working at fashion q, fashion runway, fashion robe […] blouse cutting, fashion style, fashion style chanel, fashion soraya, fashion string, fashion street china, fashion star, s fashion world, s fashion show, s fashion point, s fashion king, s fashion art, a s fashio […]0

China fashion jewelry pls contact WhatsApp +86 13777535964 http://www.youtube.com – January 280

2013.01.18 Lee Min Ho Wins Most Popular Asian Actor Award in The ’12th China Fashion Awards’ http://www.youtube.com – January 272ASOS is Frontrunner to Buy Topshop | VMSD http://www.vmsd.com – January 25[…] ASOS is competing against several rivals, including China’s Shein (Shenzhen, China) fashion group and the American retailer Authentic Brands Group (New York) […]1

Intellasia East Asia News – China National Silk Museum Features Exhibition of Iconic Fashion Garment Masterpieces from Contemporary Chinese Designers http://www.intellasia.net – January 23[…] featuring hundreds of China’s contemporary fashion garment masterpieces, sponsored by the China Fashion Association, Fabrics China and organized by the China National Silk Museum […]0

China National Silk Museum Features Exhibition of Iconic Fashion Garment Masterpieces from Contemporary Chinese Designers | ASIA TODAY News & Events asiatoday.com – January 23[…] featuring hundreds of China’s contemporary fashion garment masterpieces, sponsored by the China Fashion Association, Fabrics China and organized by the China National Silk Museum […]1

China Fashion Custom EVA Open Toe Summer Beach Slipper for Men – China Ladies Slippers and Fur Slippers price xmyears.en.made-in-china.com – January 23China Fashion Custom EVA Open Toe Summer Beach Slipper for Men, Find details and Price about China Ladies Slippers, Fur Slippers from Fashion Custom EVA Open Toe Summer Beach Slipper for Men – Xiamen Years Trading Co., LTD.1

China Fashion Sneaker Men Mesh Shoes Running Sport Shoes – China New Casual Sneaker and Sport Running Shoes price xinchenshoes.en.made-in-china.com – January 18China Fashion Sneaker Men Mesh Shoes Running Sport Shoes, Find details and Price about China New Casual Sneaker, Sport Running Shoes from Fashion Sneaker Men Mesh Shoes Running Sport Shoes – Jinjiang Xinchen Shoes Trade Co., Ltd.1

Simone Rocha is H&M’s next designer collaboration – Lucire lucire.com – January 14[…] H&M Also in Lucire’s news section Categories China / fashion / London / Lucire / Sweden / tendances / trend / TV Comments (0)1China fashion jewelry n bags pls contact WhatsApp +86 13777535964 http://www.youtube.com – January 130

China Fashion tassel leather cosmetic bag makeup case with wristlet handle with zipper closure flat bottom stand-up organizer bag large capacity for women ladies Manufacturers and Suppliers | Camei Ele&Stationery http://www.camei-stationery.com – January 8This Ca-Mei cosmetic bag designed to store and organize brush, lipsticks, scissors, mascara, perfume and other cosmetic tools.The zipper runs smoothly, and the…2

Fashion Apparel Market Share, Size 2021 Demand, Global Trend, News, Business Growth, Top Key Players Update, Business Statistics and Research Methodology by Forecast to 2025 – LionLowdown lionlowdown.com – January 6[…] 2 China Fashion Apparel Sales and Growth Rate (2015-2021) 8 […]1

Worldwide Industry for Fashion E-Commerce to 2030 – Featuring Amazon, Flipkart & Alibaba Among Others http://www.prnewswire.com – January 5[…] China Fashion E-Commerce Market 8 […]1

2021 Fashion Trends To Get Excited About glamourandgains.com – January 3[…] LYNEE collection show by Chinese designer Li Huizhen at China Fashion Week combined monochromatic neutrals, bralette tops and tailored shorts […]1

Adidas Film Advert By Hypemaker: Chinese New Year 2021 | Ads of the World™ http://www.adsoftheworld.com – January 1[…] Network: Hypemaker Published/Aired: January 2021 Posted: January 20, 2021 Like Comments Tags Film China Fashion Retail Services Adidas Hypemaker Part of Collection Top Chinese New Year Ads 46 Ads in thi […]2

H&M Film Advert By Forsman & Bodenfors: Connect all differences | Ads of the World™ http://www.adsoftheworld.com – January 1[…] & Bodenfors Published/Aired: January 2021 Posted: January 27, 2021 Like1 Comments Tags Film China Fashion Retail Services H&M Forsman & Bodenfors Description 2020 was an unprecedented and divisive year […]N/A

Burberry Film Advert By BBH: A New Awakening | Ads of the World™ http://www.adsoftheworld.com – January 1Burberry A New Awakening China Agency Network: BBH Published/Aired: January 2021 Posted: January 20, 2021 Like Comments Tags Film China Fashion Retail Services Burberry BBH Description Film advertisement created by BBH, China for Burberry, within the categories: Fashion, Retail Services. Credits Advertising Agency: BBH ChinaN/A

Discover China: French fashion designer Pierre Cardin revered for inspiring China’s haute couture – Xinhua | English.news.cn http://www.xinhuanet.com – January 1[…] Jerry Zhang, a member of the professional fashion modeling committee of the China Fashion Association, was among dozens of people that attended the memorial on Thursday […]0

French fashion designer Pierre Cardin revered for inspiring China’s haute couture – SHINE News http://www.shine.cn – December 31, 2020[…] Jerry Zhang, a member of the professional fashion modeling committee of the China Fashion Association, was among dozens of people that attended the memorial on Thursday […]2

Fashion Sandals Market Size And Forecast (2020-2026)| With Post Impact Of Covid-19 By Top Leading Players-Birkenstock,Alpargatas,Belle,Adidas,Clark,Skechers,Caleres,Steven Madden,Rieker reportsandmarket.wordpress.com – December 31, 2020[…] com/sample-request/china-fashion-sandals-market-research-report-2018?utm_source=wordpress&utm_medium=14 The global Fashion Sandal […] com/sample-request/china-fashion-sandals-market-research-report-2018?utm_source=wordpress&utm_medium=14 About Us: Reports an […]1

201229 f(Victoria) = Vogue China “Fashion in Film” [1P] – functionlove.net – December 29, 2020Credits to 小象王国 Please credit functionlove.net as well if taking out, thanks.N/A

China fashion jewelry n bags ( earrings ) +86 13777535964 http://www.youtube.com – December 28, 2020N/A

China fashion jewelry n fashion bags pls contact WhatsApp +86 13777535964 http://www.youtube.com – December 27, 2020N/A

Outlook on the Fashion E-Commerce Global Market to 2030 – Identify Growth Segments for Investment | GumBumper gumbumper.com – December 24, 2020[…] China Fashion E-Commerce Market 8 […]0

DSV Panalpina completes Prime Cargo purchase http://www.payloadasia.com – December 23, 2020[…] in Poland and China from forwarder Mitsui-Soko Group   December 23, 2020        By PLA Editor China fashion industry DSV Panalpina e-commerce Prime Cargo After approval from the competition authorities, DS […]1

Reach Cotton Tote Bag $0.50 Delivered (via Free Membership) @ BONDS http://www.ozbargain.com.au – December 11, 2020[…] Made in China. Fashion & Apparel Tote Bag Unknown RELATED STORES Bonds COMMENTS ATangk on 11/12/2020 – 21:02   If anyon […]0

2020 Fashion Design Competition Finale, Panel Talk, Runway Showcase http://www.chinainstitute.org – December 10, 2020[…] Chinese designs and a panel discussion with top fashionistas marking the culmination of our annual China Fashion Competition […] Watch here or on YouTube! China Fashion Goes Green Panelists Jinqing Cai President of Kering Greater China In 2002, she co-founded the P […] She has works internationally and her research and writing covers fashion in China, fashion curation, the everyday, and the politics and ethics of fashion […]12

Entering the Chinese Market through the power of Social Networks in China – Dec, 18 | 中国意大利商会 http://www.cameraitacina.com – December 9, 2020[…] in the USA Women Media Center, president of the Sicilian association in China, founder of the China fashion group […]N/A

Seizing New Opportunities To Build a New Landscape — 2020 China Conference Of Bicycle Industry Successfully Held chinamotorworld.com – December 8, 2020[…] trends presentation in the afternoon of November 20, Wang Xiaojing, training technical director of China Fashion and Color Association, and Xie Yuxian, an expert of China Industrial Design Association, delivere […]3

Creative industries, art and culture: the Netherlands and China | China | netherlandsandyou.nl http://www.netherlandsandyou.nl – December 7, 2020[…] and Dutch-Belgian led firm AIM have designed classy contemporary interiors for clients such as SOHO China, fashion brand zuczug and design store HAY […]1

3 layers height increasing insoles, height insole http://www.gmdu.net – December 4, 2020[…] , Ltd Product Brand Sw Region China Category Fashion Accessories – Other Shoes Mashup China Fashion Accessories – China Other Shoes Related Height Increasing Insoles Product Details 3 layers heigh […]

Amazon Has Finally Met Its Match

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

There’s a New Challenger to Amazon Prime

Longtime RiskHedge readers know Walmart (WMT) is one of my favorite stocks on the planet. Walmart is America’s largest retailer. It sold more than half a trillion dollars-worth of goods through its stores last year!

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.

Stephen McBride

Stephen McBride

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.

Source: Forbes

5 Things That Cause Reasonable Consumers to Abandon Their Shopping Carts

1

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 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.

Related: 5 Simple Ways You Can Decrease Shopping-Cart Abandonment

2. Having to Create an Account

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 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 , 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?

Related: How Businesses Can Process Payments Without Stress

5. Wasn’t Good Enough

No ecommerce 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?

By:Lucas Miller – Founder of Echelon Copy LLC

bevtraders-2

NewChic – Discover Your Most Fashionable Collocation Shopping With The Latest Trends

1

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?

1
k

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.

How to tell if a company is legit or not? First, Reviewing the website to determine legitimacy. Telephone number, address and indicator of professionalism are all useful info. Second, review the company’s policy pages. Legit company almost got use of terms as well as privacy policy. Third, consider how the company accept payments.Legal company usually will support official and mainstream payment. Finally, check their social networks. As I said, most of the scam company they get your money and then disappear. So they won’t let you to have a chance to find them.

https://i1.wp.com/www.retailreviews.net/wp-content/uploads/2016/12/newchic-review-banner-05.png?resize=781%2C378

20190813220015_147
https://i1.wp.com/cdn.joinhoney.com/images/shop/share/200/7668277275121797416.png?resize=852%2C590&ssl=1https://i1.wp.com/couponrani.xyz/wp-content/uploads/2019/09/5b03c26e9b77af27cc335605_guide1.png?resize=790%2C495

Banggood Another High Quality Amazon Like Shopping Online Service With No Borders

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.

Banggood Apparel Return Process

Returnable Items

Items that can be returned/refunded or exchanged within 30 days of receiving must follow the criteria as below:

1. Faulty items damaged/broken or stained upon arrival.

2. Items received in the incorrect size/color.

3. Unwashed, unworn, and unused item(s) that have not met your expectations within 30 days of receiving.

Non-Returnable Items

We will not accept returns in the following conditions:

1. Items outside the 30 days warranty time-frame.

2. Washed, worn, used, or misused items.

3. Items under the following categories: Swimwear,Underwear, Lingerie, and Earrings. These items are not covered by the warranty for hygiene reasons.

Related image

Sizing issues 

In the apparel industry, there are slight size differences between brands and manufacturers. It is important you check the size chart and size conversion chart on the product before ordering.

If we have shipped you the wrong size by mistake, we will either refund you in full or send you an item with an alternative size (if applicable).

If you chose the wrong size, Banggood will offer an exchange or refund for you, but please note that shipping costs to return the items are at your expense.

You must contact us to arrange a refund. Returned items without Return Merchandise Authorization (RMA) will not be accepted.

Source: Banggood.com

Image result for banggood gif bannersRelated imageRelated imageRelated imageRelated imageRelated image

The Psychology Of Why Men Wait Until Christmas Eve To Shop

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.

The Australian National Retailers Association concluded from a survey that men are two and a half times more likely to wait until the last couple days to do holiday shopping. Moreover, the National Retail Federation in the U.S. found similar results with 24% of people planning to do shopping on the 22nd and 23rd.

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?

Follow me on Twitter or LinkedIn. Check out my website or some of my other work here.

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.

Source: The Psychology Of Why Men Wait Until Christmas Eve To Shop

142K subscribers
Some say it’s less stressful, others say it’s a tradition.

3 Ways to Create an Immersive Shopping Experience Your Customers Will Love

When I first heard about Nordstrom’s NYC flagship store opening, I was curious to see what the company would do to take its in-store retail experience to the next level. Nordstrom didn’t disappoint.

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 Marketing study.

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.

Online retailers are opening brick-and-mortar stores because they recognize that customers like to have an option of returning an online purchase in-store. If you’re an e-commerce company that isn’t ready to launch a retail store, consider offering an inventory-free showroom, which could equate to customers spending 60 percent more and buying more expensive items, according to research from the Wharton School and Harvard Business School. Or launch a temporary pop-up shop, like Adore Me’s invite for VIP shoppers.

3. Build smarter, tech-driven experiences.

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.

By Maria HaggertyCEO, Dotcom Distribution

Source: 3 Ways to Create an Immersive Shopping Experience Your Customers Will Love | Inc.com

2.08M subscribers
✎ In today’s #7Ways video, Evan shares his advice on how to make your e-commerce business wildly successful. Enjoy! 🙂 ★★★ SECRET BONUS VIDEO ★★★ What is the One Word that is most important to Tony Robbins, Gary Vaynerchuk, will.iam, Oprah Winfrey, and Howard Schultz? Find out here: http://www.evancarmichael.com/oneword… ❤ HELP TRANSLATE THIS VIDEO ❤ If you loved this video, help people in other countries enjoy it too by making captions for it. Spread the love and impact. https://www.youtube.com/timedtext_vid… ★ MORE RECOMMENDED VIDEOS FOR YOU ★ If you enjoyed this video, you may enjoy these other videos from Evan Carmichael: • Warren Buffett’s Top 10 Rules For Success – https://youtu.be/iEgu6p_frmE • Rich Dad Poor Dad – Robert Kiyosaki’s Top 10 Rules For Success – https://youtu.be/yVfBdFs4_S8 • Bob Proctor’s Top 10 Rules For Success – https://youtu.be/uLn6lpP8YmA ✎ 7 Ways to Make Your E-COMMERCE Business WILDLY Successful – #7Ways 1) #Believe in the product 2) Make sure there is demand 3) Get distribution 4) Have beautiful pictures 5) Write detailed descriptions 6) Get their emails 7) Get your tech right ♛ BUY MY BOOKS, CHANGE YOUR LIFE ♛ Some used the ideas in these books to build multi-billion-dollar businesses. I’ll give you the simple-yet-powerful formula that they used (and you can) to realize your dreams. Get yours. http://www.evancarmichael.com/oneword/ http://www.evancarmichael.com/top10/ ✉ JOIN MY #BELIEVE NEWSLETTER ✉ This is the best way to have entrepreneur gold delivered to your inbox, and to be inspired, encouraged and supported in your business. Join #BelieveNation and feel the love. http://www.evancarmichael.com/newslet… ⚑ SUBSCRIBE TO MY CHANNEL ⚑ If you want to do great things you need to have a great environment. Create one by subbing and watching daily. http://www.youtube.com/subscription_c… ¿ COMMON QUESTIONS ¿ • What is #BTA?: https://www.youtube.com/watch?v=BsY8b… • How do I get one of Evan’s t-shirts?: http://evancarmichael.com/gear • Why does Evan look like Nicolas Cage?: https://www.youtube.com/watch?v=gZHRn… • Why does Evan make so many videos? https://www.youtube.com/watch?v=NEKxG… • How do I vote for the next Top 10 video Evan should make? https://www.youtube.com/watch?v=0arZb… • How do I vote for the next #7Ways video Evan should make? https://youtu.be/sXgcP79xrNQ ツ CONNECT WITH ME ツ Leave a comment on this video and it’ll get a response. Or you can connect with me on different social platforms too: • Instagram: https://www.instagram.com/evancarmich… • Twitter: https://twitter.com/evancarmichael • Facebook: https://www.facebook.com/EvanCarmicha… • Website: http://www.evancarmichael.com

When Is Black Friday 2019? Expected Sale Dates For Amazon, Best Buy, Target And Walmart

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

Forbes Gordon Kelly

The Real Black Friday Deals Begin Thanksgiving Week

Today In: Innovation

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.

Link: My full Amazon Black Friday Deals Preview 

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.

Link: My full Best Buy Black Friday Deals Preview 

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.

Link: My full Target Black Friday Deals Preview 

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.

Link: My full Walmart Black Friday Deals Preview 

I will be extensively tracking Black Friday and Cyber Monday 2019 deals and publishing the best offers daily, so be sure to bookmark my page.

Follow Gordon on Facebook

More On Forbes

Best Buy Black Friday 2019: Here Are The First Deals

Black Friday 2019 Ad Preview: Costco’s Best Deals

Apple ‘Black Friday’ 2018 Ad Preview: Expected iPad, iPhone, MacBook Deals

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.

Source: When Is Black Friday 2019? Expected Sale Dates For Amazon, Best Buy, Target And Walmart

412 subscribers
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
%d bloggers like this: