Ecommerce news - Monthly Digest July
Apple's "Buy now, pay later" service is coming
The upcoming service, known internally as Apple Pay Later, will use Goldman Sachs Group Inc. as the lender for the loans needed for the installment offerings, according to people with knowledge of the matter.
The service is currently planned to work as follows: When a user makes a purchase via Apple Pay on their Apple device, they will have the option to pay for it either across four interest-free payments made every two weeks or across several months with interest, one of the people said.
Teleshop 2.0. What?
Live shopping in Europe is becoming more and more popular. A study by Arvato Supply Chain Solutions shows that more and more consumers in Europe have begun to explore virtual shopping events.
Live shopping is basically nothing more than traditional teleshopping. Think of home shopping television stations such as QVC (US, UK, Germany, Japan, Italy, China), TJC (UK), Tel Sell (the Netherlands) or Tvins (Scandinavia).
Now, 70 percent of European customers answered favorably when asked if they would be open to live shopping.
About one in five brands analyzed started using live shopping as a sales channel since summer last year. And now, more than one in three fashion and beauty brands have offered at least one live shopping event.
New tax regulations in the EU
Say goodbye to local thresholds
The existing thresholds for distance sales of goods within the EU will be abolished and replaced by a new EU-wide threshold of EUR 10 000.
The One Stop Shop
By extending the use of the OSS to all distance sales of goods within the EU, the administration got simpler. You only need to exchange information with only one Tax Authority in only one language.
New VAT rules in EU
The current VAT de minimis threshold of 22 EUR will no longer be applied. The new rule means that from 1 July 2021 VAT will have to be charged on all goods entering the EU, ensuring a level playing field for EU businesses.
Brace yourselves - the back-to-school season is coming
...and nearly 50% of parents will buy school supplies online. Parents will head to the web more for school items this year, according to a new survey from consulting firm Deloitte LLP.
Although mass merchants remain the most popular retail channel for this group of shoppers to visit (74%), online-only stores are the preferred format for technology purchases. 49% plan to shop at online retailers and 41% at dollar stores.
Social media is an integral part of the shopping journey for 41% of K-12 parents. Among those using social media, 42% are visiting retailers’ social media pages not only to assess their products but to get a sense of their personality and purpose, compared with 30% in 2020.
Pro Tip: Don't forget to connect your store to Google Merchant Center and Facebook to provide product ads both on search pages and social media platforms.