In today’s top retail news, Facebook is showcasing new tools for businesses to connect with consumers, while Amazon says it has received more than 500,000 applications for jobs in the United States and over a million applications worldwide. In addition, a men’s clothing resale market received $ 60 million in funding to improve its platform, and an omnichannel retail management platform agreed to acquire Inventory Planner.
Facebook unveils new online shopping tools
Facebook is introducing new tools for businesses to connect with potential customers on its app with the goal of becoming a destination for online shoppers. The new features will allow businesses to send emails to consumers through the Facebook Business suite, allow employees to manage business pages without needing to log in with their personal accounts, and add a WhatsApp button to business profiles on Instagram.
Amazon Career Day sees over 1 million job applicants
More than a million people from over 170 countries applied for jobs at Amazon on its Virtual Career Day earlier this week, with more than 220,000 job seekers tapping into the website for guidance business leaders and experts. Amazon has seen more than 500,000 people apply for corporate, technology and hourly jobs in the United States since the announcement of Career Day on September 1.
Men’s Fashion Market Gains $ 60 Million in GOAT Group Led Round
New York-based menswear resale platform Grailed has raised $ 60 million in a Series B funding round led by sneaker market ownership group GOAT. Grailed intends to use the funding to improve its authentication services and strengthen its existing payment processing system, among other goals.
UK Based Brightpearl Launches Inventory Planner
Omnichannel retail management platform Brightpearl has entered into an agreement to acquire the Inventory Planner inventory projection solution for undisclosed terms. The merger gives Bristol, England-headquartered Brightpearl enhanced inventory forecasting capabilities that complement its retail operating system, helping traders scale and automate quickly and seamlessly .
Sears to close last store in home state of Illinois
Sears will close its last Illinois-based department store, located at Simon Property Group’s Woodfield Mall, on November 14, ending the retailer’s stay in its home state. Sears Holdings, which also owned Kmart, filed for bankruptcy in October 2018 before Transformco acquired Sears and subsequently closed a large number of branches across the country. When it filed for bankruptcy, Sears had approximately 700 stores; there are now less than 40.
The Big Retail Conundrum: Easy Returns Are Expensive, But Boost Ecommerce Loyalty
David Morin, senior director of retail and customer strategy at Narvar, told PYMNTS that as merchants continue to face an increase in returns, “it’s really essential for retailers to think about how to make the overall experience as easy as possible, as smooth as possible. , as smooth as possible. Still, retailers should be wary of fraud prevention and revenue protection, which can mean limiting the number of returns a customer can make or promoting exchanges rather than full returns.