US e-commerce giant Amazon said on Friday that it has invested USD20 million in Shanghai-based online food vendor Yummy77 as it diversifies its product offerings beyond books and general merchandise.
“Our investment in Yummy77 represents our commitment to China as it shares with us the same dedication for customer service and execution,” Steve Frazier, vice president at Amazon.com, said in a statement.
Amazon, however, didn’t reveal the stake it would acquire in the fresh food website.
Online retailer Amazon has announced a partnership with Twitter that allows users to add products to their shopping carts by tweeting a special hashtag.
They can do so by replying to tweets containing a link to an Amazon product with #amazoncart in the US and #amazonbasket in the UK.Users will still need to go to Amazon to pay and complete the purchase.
The move comes as firms are looking at ways to use social media platforms as tools to attract customers.
China has unique regulatory dynamics that make tapping into this huge market extremely difficult for Western Internet companies. Social behemoths Facebook and Twitter are banned by censors, and Amazon and eBay have a minimal presence with their website access intermittently blocked or throttled, rendering them virtually unusable. Google’s struggles with Chinese censorship demands have resulted in a fractious relationship with the government, severely curtailing the company’s attempts to provide its core search product in China.
The amount Amazon reports through a tax-exempt vehicle in Europe has dropped in the past two years, after the IRS tightened rules.
Amazon's profit and revenue both grew in the latest quarter but its results fell below what Wall Street was expecting and shares of the world's biggest online retailer declined after-hours.
Amazon is going to the people who dislike and fear it the most - independent bookstore owners - and offering to work together to fulfill the needs and desires of their customers. The retailer on Wednesday announced a program where stores can sell its popular reading devices. The booksellers would get a small payment on each sale and a commission on all e-books that the reader buys in the next two years.
Implementing an e-commerce platform takes time. Retailers should take advantage of cloud and not rush the process
Retailers are often in a rush to respond to consumer demand in implementing their e-commerce platforms. By taking time to research the market and understanding their own online capabilities and product information, retailers can fulfil consumer expectations and create repeat business through loyal customers.
Retail in Asia spoke with Mark Gray, Managing Director, Asia-Pacific, ChannelAdvisor and asked him what retailers should be doing, who they should be engaging and what's available to support them.
Amazon reported a 24 percent increase in net sales in the third quarter of 2013 compared with the same period last year. From USD13.81 billion in Q3 2012, sales rose to USD17.09 billion this year.
“It’s been a busy few months — we launched a new Paperwhite and new Kindle Fires to positive reviews and surprised people with the revolutionary Mayday button—average Mayday response times are just 11 seconds,” said Jeff Bezos, founder and CEO of Amazon.com.
Amazon released a new service that streamlines how customers transact with online merchants.
With Login and Pay with Amazon, participating companies enables their customers to go from browsing to buying in just a few clicks using their Amazon account information.
“Amazon has more than 215 million active customer accounts,” said Tom Taylor, Vice President, Amazon Payments. “Login and Pay with Amazon enables online shoppers with Amazon credentials to access their account information safely and securely with a single login.
Asos has poached Amazon finance boss Shaun McCabe as it further strengthens its management team.
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