Office Depot and Alibaba’s B2B Program, Amazon Creates Panic and Cryptocurrency International Sales
Office Depot, Alibaba B2B Ecommerce
Alibaba and Office Depot have announced a joint program to help small and mid-size business sell and buy products across the globe, with hopes to turn smaller businesses into international ecommerce players. The companies announced detailed information on the operations of their joint program, such as combining sales and support teams from both companies to help SMBs connect with new suppliers and expand customer reach. This joint program has a co-section of Alibaba’s website, alibaba.com/officedepot. Both Alibaba and Office Depot claim their combined resources drive over 450 million annual visits to website, mobile and physical locations.
What stood out to us? Singles’ Day new theme may be office supply based, just saying.
Amazon Creates Panic For Suppliers
Amazon has stopped buying products from many of its wholesalers, instead encouraging vendors to sell directly to consumers. This allows Amazon to make more money by offloading the cost of storing, shipping and purchasing products. However, Amazon can charge suppliers for these services and take commission on transactions, which proves to be less risky than flat out buying goods. Amazon is determined to boost its ecommerce profits, even if that means hurting relationships with longtime suppliers. “If you’re heavily reliant on Amazon, which a lot of these vendors are, you’re in a lot of trouble,” says Dan Brownsher, Chief Executive Officer of Channel Key, a Las Vegas ecommerce consulting business with more than 50 clients that sell more than $100 million of goods on Amazon annually. “If this goes on, it can put people out of business.”
What stood out to us? Sounds like Panic! At Amazon.
Cryptocurrency and B2B International Sales
H&M Distributors Inc., a lighting products supplier, believes accepting cryptocurrency will increase international sales because it would reduce difficulties of cost and time barriers that make cross-border sales difficult. By accepting cryptocurrency, it allows Henderson, Nevada-based H&M to eliminate banking fees associated with cross-border sales, such as currency conversion. This also allows companies to settle international purchases on the same day, which is not something guaranteed with bank remittances with B2B buyers and sellers. “Accepting cryptocurrency payments allows us to share our expertise with more clients by removing many of the barriers that made it difficult to sell internationally,” says H&M CEO Herb Needham. “What sold us [on accepting cryptocurrency] was the settlement system, which allows us to convert crypto payments to a U.S. dollar equivalent right away.”
What stood out to us? Has H&M followed bitcoin over the last year?
In the headlines
- Amazon groceries: The company opened a new US grocery chain separate from Whole Foods.
- A picture’s worth a thousand words: Google Images is getting more “shoppable” ads.
- Don’t wine: This Milwaukee company raised $8.5 million to prove personalized wine is the future.
- CVS is building its executive team: For ecommerce and digital health, to be exact.
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