Shop 'Til You Drop 🚫
This week’s Dose highlights: a manufacturer's dream, the electrical ecommerce de-evolution, and stress shopping.
Xometry: The Manufacturing Marketplace
Launched in 2014, Xometry recently doubled the number of companies using its custom manufacturing marketplace. Xometry provides a portal for companies to buy and sell on-demand services like sheet metal fabrication and 3D printing. Currently, the marketplace has 2,400 participating manufacturers and 10,000 customers. This significant growth is in part due to the acquisition of MakeTime last July.
What stood out to us? Xometry's focus is on helping small- to mid-sized shops grow through maximizing available work capacity. However, the on-demand manufacturing platform serves several large corporations including BMW, GE, and NASA.
What we heard? Will the platform's popularity make Xometry the Amazon of custom manufacturing?
Electrical distributors sans ecommerce
According to a study by Apruve, only 42% of electrical distributors have an ecommerce site. Of those, only 15% have a mobile app and only 24% let buyers place bulk orders or quick reorders. With 33% locking ecommerce functionality to registered customers only, electrical distributors are alienating many B2B buyers—93% in fact, who prefer to order online.
What stood out to us? With 52% of B2B buyers rating self-service as essential, online browsing and ordering functionality has become an important touchpoint in the B2B purchasing journey. Electrical distributors—and distributors in general—who currently don't have an ecommerce store are bound to continue losing out on potential revenue.
What we heard? A demand for DIY ordering.
Shopping carts are the new Smart Watch
Walmart recently filed a patent application for a biometric shopping cart handle. The handle will be able to track customers' stress levels, body temperatures, and heart rates as they shop. Walmart's focus is to identify real-time health issues among individual customers and potential environmental stressors.
What stood out to us? Although data will not be linked to specific customers, tracking biometric data seems a bit invasive for the retail giant. In the wake of Cambridge Analytica and other data breaches, we wonder how customers will react to the new technology.
What we heard? Walmart denies age old motto "shop 'til you drop".
In the Headlines
- Tax Time: The June online sales tax law went into effect in 10 states this past Monday
- I Prefer Scrambled: Ebay accuses Amazon's sales representatives of illegally poaching sellers from its marketplace
- Moving On Up: Amazon raises minimum wage for 250,000+ U.S. employees to $15/hour
- New Faces: GE replaces CEO with Lawrence Culp, Tesla removes Musk as CEO, and FB names Adam Mosseri as new head of IG
Because we can
Read this if 📖
you're wondering about the extent of quid pro quo in a digital world.
Listen to this if 🔊
you need to "think slow" over some major decisions.
The OG Rap Holiday 🎧
The Ringer asks the age old question...
This is for you
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See you next weekend! ✋