eCommerce News Weekly Update Vol 29.
This week we prepared five eCommerce news for you to catch up with.
Shopify targets the German e-commerce market
Shopify is working hard to expand into the German e-commerce market, according to foreign media reports. In October 2021 Shopify entered into a partnership with audio streamer Spotify, allowing artists to sell their wares directly to fans through the Spotify app.
Initially open only to listeners in Australia, Canada, New Zealand, the UK, and the US, the feature has now been successfully launched in Germany and is rapidly gaining traction.
Shopify has partnered with several shipping companies in Germany, including UPS, DHL, FedEx, USPS, Royal Mail, and many more, making Shopify’s parcel delivery capabilities much greater and further strengthening its position in the German market.
eBay’s latest announcement: sellers must provide SSN or ITIN
Recently eBay said that from January 2022, annual sales of more than $ 600 sellers, must provide it with a 9-digit social security number (SSN) or personal tax identification number (ITIN), which can continue to sell on eBay.
The move is reportedly announced in the wake of the IRS’s introduction of a new tax bill (1099-K) that requires all sellers with annual sales of more than $600 to fill out a federal tax report.
eBay added that if a seller sells an item for less than its cost, it will not be taxed. And this means that sellers of “used items” and “refurbished items” will not be taxed.
eBay platform shopping boom will continue after Christmas
Although the Black Friday network to Christmas sales peak is coming to an end, after Christmas has been throughout January, eBay sees buyers still continue to the eBay platform to search for items and shopping.
We saw 3.1 billion searches on the eBay platform between Christmas and the end of January last year, and sellers continue to search for great value items on the eBay platform after Black Friday, and there is still plenty of consumer demand in the marketplace.
Therefore, we recommend that sellers extend the duration of their Promoted Listings portfolio campaigns to boost sales during the peak season and the Chinese New Year of 2022 will start at the end of January, it’s time to restock to avoid the impact of CNY.
eBay’s gross merchandise volume (GMV) from 2nd quarter 2014 to 2nd quarter 2021
Shopify launches NFT trading service! Sellers can create and sell NFT items
A few days ago Shopify announced on Twitter the launch of a service to sell NFT items, through which sellers can create and sell NFT items in their stores.
With this new service, sellers can create NFTs on the Ethereum, Polygon, Near, and Flow blockchains and accept payments through Shopify Payments, ShopPay, and cryptocurrency gateways or bank cards.
Data show Australians could spend $240 billion around Christmas with travel product recovery
Foreign media reported that most Australians are expected to spend around Christmas this year without decreasing enthusiasm despite experiencing blockades, reduced income, and travel restrictions this year.
The Commonwealth Bank’s Household Spending Intentions (HSI) index is understood to have hit a new high in November, reaching 110.3 points, the highest level since the outbreak.
the HSI reflects people’s spending activity and their spending intentions. Stephen Halmarick, the bank’s chief economist, said the data showed that Australia’s economic recovery from the recent outbreak had gained momentum.