“At a time when the coronavirus has sent record numbers of consumers online instead of to the mall, livestreaming is filling the social vacuum. There’s no better example of the trend’s proliferation than Walmart and TikTok, which on Thursday (Dec. 17) announced a “first of its kind” event scheduled for Friday, Dec. 18 at 8 p.m. EST on the Walmart profile page on TikTok. At that time 10 TikTok creators, including Michael Le (@justmaiko), a dancer with 43 million followers, and other creators will participate in a one hour shoppable variety show, called the ‘Holiday Shop-Along Spectacular.’”
- “Moreover, during the first quarter of 2020, Walmart’s eCommerce business in the US grew 74%. This was up to 97% in the second quarter, largely attributed to more customers shopping online during the pandemic.”
- “Microsoft Corp., Walmart Inc. and Oracle Corp. have all expressed interest in the breakout app, the success of which rests on addictive video feeds powered by ByteDance’s AI-driven content-recommendation engine.
- China announced new restrictions on artificial-intelligence technology exports that could further complicate the sale of TikTok’s U.S. operations, while intensifying the tech battle between the world’s two largest economies.”
- “Not too long ago, NASDAQ predicted that by the year 2040, as much as 95% of shopping will be facilitated by ecommerce. Similarly, Shopify Plus estimates that by the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion
- Today, it is either go digital or go home. So, for all businesses looking for an ecommerce mobile app builder, Studio Store could be an interesting option.”
- “Online sales in the U.S. jumped 74% for its fiscal first quarter that ended April 30, which captured the brunt of the pandemic’s outbreak. Same-store sales rose 10% at U.S. Walmart stores on strong sales of food, health and wellness goods.
- Ken Perkins, president of research firm Retail Metrics, said he expects earnings will be down 36.6% for the 103 retailers he tracks compared to the year-ago period.”