Retail News and Trends for 21st November 2019

1.

TikTok Testing Addition of Social Commerce URLs

Short-form mobile video app TikTok is expanding its eCommerce footprint by testing a new feature allowing users to add a shoppable URL to their bios or videos, creating an online store where consumers can shop without leaving the app.

2.

L Brands' Q3 earnings disappoint

L Brands reported a steep loss for its Q3 as sales continued to fall at its troubled Victoria's Secret division. The retailer’s net loss totaled $252 million, or 91 cents a share, in the quarter ended Nov.2, compared with a loss of $43 million, or 16 cents a share, in the year-ago quarter. Adjusted earnings came to 2 cents a share, in line with analysts’ estimates, compared with 16 cents a share a year ago. 

3.

PayPal acquires Honey for $4B

PayPal announced that it will buy shopping and rewards platform Honey for $4 billion, its largest acquisition to date. Buying Honey allows PayPal to establish a foothold in a new area of the market. PayPal's stock price dropped more than 2% in extended trading after the announcement.

4.

7-Eleven's delivery app now handles Alexa, Google Assistant orders

New convenience-minded features arrive months after the chain debuted delivery hot spots, mobile checkout, and AR loyalty tie-ins. 7-Eleven launched a voice-powered app that lets customers place delivery orders through their Amazon Echo or Google Home smart speakers, according to an announcement shared with Mobile Marketer. 

5.

Marie Kondo sparks confusion with new online store

Marie Kondo has launched an online homeware store selling over 100 items ranging from £9 to £154. The Japanese organizing consultant and author who is well known for her tidying up methods said the reason behind the launch of her eponymous label is to help consumers “make room for meaningful objects”.

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