Target Digital Sales Grow Over 100%, Luxury Retailer Olivela Connects With Shoppers Amid COVID-19 and Facebook Invests $6 Billion in India Ecommerce Giant
Target Digital Sales Growing Over 100% This Quarter
Target is experiencing strong demand for its same-day fulfillment service and record-setting digital growth amid the COVID-19 pandemic. The retailer, which is in its first fiscal quarter, said since the beginning of the quarter on February 2, digital sales have grown over 100% and from the beginning of April, digital sales have grown approximately 275%. The quarter comparable sales have grown over 7% with store sales slightly declining and digital sales soaring. If comparable stores sales of 7% continue, it would mark Target’s best quarterly performance since 2000, according to data by Bloomberg.
What stood out to us? Covid: the great accelerator of business trends.
Luxury Retailer Olivela Connects With Shoppers Amid COVID-19
Online luxury apparel retailer Olivela has adjusted its services to help customers feel more engaged during the COVID-19 pandemic. The retailer has added new virtual services for shoppers such as one-one-one appointments with Olivela buyers, virtual events and virtual styling services. In April, the luxury retailer sent customers who signed up for a session via Instagram a brief questionnaire asking about skin types and product preferences. Experts then chose products for each participant and hosted live virtual consultations, describing the products and offering advice. Participants then received a follow-up email with links to the products discussed. 80% of consumers who signed up for sessions had never purchased from the retailer before, and the retailer generated a 20% conversation rate over two days.
What stood out to us? Gotta look stylish in a pandemic.
Facebook Invests $6 Billion in India Ecommerce Giant
Facebook’s biggest investment since its WhatsApp takeover could empower a new combatant in an ecommerce war already in motion between Amazon and Walmart’s Flipkart. Facebook recently invested $5.7 billion in a unit of India’s Reliance Industries Ltd., creating a bigger fight to take on Amazon and Walmart. The deal replicates WhatsApp with Reliance’s nearly 400 million internet users and nationwide store logistics network. “We’re also committing to work together on some critical projects that we think are going to open up a lot of opportunities for commerce in India,” Facebook founder Mark Zuckerberg said in a video posted on Facebook. “With a lot of communities around the world in lockdown, it’s even more important now than ever that people have the tools to connect with each other and that businesses can find ways to operate online.”
What stood out to us? Who owns the data?
In the headlines
- Closed for good: Gap Inc. shares that some stores will never reopen.
- What a deal: Google makes listing products on its Shopping service free.
- A new realty: Augmented reality increases conversions at backpack retailer Mystery Ranch.
Before you go
COVID-19 has B2B sellers more bear than bull on ecommerce growth.
Amazon is poised to emerge from the pandemic stronger than ever before.
Special report on why the coronavirus will bend but not break ecommerce.
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