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B2B elevates transparency benefits with virtual cards

virtual cards

At present, in B2B payments, 9/10 of financial organizations provide account validation to the clients. Wilo and Spryker team up to streamline B2B purchasing. APIs and technology bridge the communication gap between engineering teams and CFOs with virtual cards.

Businesses face a lot of challenges while making supplier payments. Underwriting, inability to give supplier portal, and reconciling invoices are some challenges.

Some other challenges are insufficient payment choice and management of real-time cash flow. Also, spending management and unprovided data across all organizational areas are problematic.

57% of the businesses that utilize virtual cards say that a good advantage is a more transactional detail. This report was as per the “Accelerating the Time to Realized Revenue”, a Mastercard and PYMNTS collaboration based on the survey that has 400 corporate executives in Canada and the USA.

On 6th July, Spryker was operating with the manufacturer of pump systems, Wilo, to develop a B2B purchasing platform for the customers. The partner of Spryker, diva-e, will be offering consulting services. It will support the making of a business model with the implementation of an end-to-end platform, with virtual cards playing a major role.

CloudTrucks, a trucking business management solution, has introduced CT Credit. It is a Visa business card crafted for helping small fleets. Also, it the owner-operators to pay and track expenses.

CT Credit is for customers who are unqualified for traditional credit cards. It allows them to get the needful funds for moving goods and cash flow management.

The CT Credit facilitates funds and gives the owner-operators and the small fleets. Moreover, it offers better control over cash flow and expenses operation like virtual cards.

The co-founder and CEO of Modern Treasury, Dimitri Dadiomov, were with the CEO of PYMNTS in an interview. The banks’ patchwork nature and payment operations of the enterprises was the main topic. It is affecting the potential for tracking payment flows. Therefore, the companies are missing out on opportunities for expanding core operations.

The financial and CFOs require to track and understand the regular progress of the business. Besides, efforts are needed to keep visibility efficient while having virtual cards by the side.

Digital payments proved to reduce fraud

digital payments

The use of supplier portals, invoicing, and digital payments have reduced fraud in overall B2B payments. Cross-border payments are facilitating effective business opportunities in countries like China. The blockchain-based system is a new trend in the online marketplace.

To state an example, Tesorio was successful in raising $17 million. All of this money is just a leadership overhaul, while Nibble Health acts as a third party. Digital payments are the next thing in the B2B payments. A Blockchain marketplace qiibee received $4.8 million. It is via seed funding round. The reward will is fully dedicated to expansion in North America.

Z5 was responsible for funding the qiibee funding round. Participation is in digital advertising. It was to meet Ben Davey, founder of CEO of Barclays Venture. There was also a description of Phil Rubin, founder of Grey Space Matters. The connection is set on the loyalty programs. qiibee as a platform saw its launch last year.

Louis Erard, Swiss Luxury Watch Maker, called out for qiibees’ platform. It was to exchange their loyalty with currency. We also saw Louis Erard Point out the miles. He explained the Etihad Guest with 9 distinct cryptos. Companies in the real world are using digital payment platforms to their full potential.

Digital payments serve as a solution for reconciliation and supplier issues. 42% of total financial institutions asked for their corporate client image. And, 15% of surveyed executives pointed out that the inefficiency of offering a supply portal is the main reason for shifting to digital payments.

Tesorio raising $17 million in Series B fund was due to the same reason. The company stated, “it is focusing this round on expanding its go-to-market efforts. ” It is native to San Francisco. It helps other companies manage funds currently valued at $23 billion. The platform features automation, dunning, workspace, collection dashboard, and others. Many digital payments companies are making America the main target place.

MedicaEx introduces B2B Medical Device platform

B2B medical device

Based in Taiwan, MedicaEx.com is regulating a “one-stop digital marketplace”. They can engage sellers and buyers of medical equipment and medical devices. The company declared this. As per the company, it discovered that nearly all corporations making B2B medical device investments use digital resources. The outlet is proving that it is an incredible time-saver. Luke Yang, the general manager of MedicaEx, said this in a ready statement.

He also added that MedicaEx brings outstanding medical technology and equipment from all over the globe. In addition, the outlet is user-friendly and an incredible way for corporations to get acknowledgment for their items.

Medicaid notes that its details include offline and online channels and ways to display products. It also has the feature of live trade shows and equipment for publishing search engine optimization tools and news releases.

As per Yang, if you have a factory, our outlet is the perfect option for you to display your items. And if you work as a distributor, consider contacting a seller to get the access to B2B medical device you want. You can also broadcast your news or research on their blog. As per MedicaEx, it has over 20,000 subscribers, 30 corporations engaged in medical exhibitions.

And the estimated exposure is more than 100,000 people who specialize in medicine. As per the website of MedcaEx, the corporation provides a fundamental plan. This plan begins at $1,880 per year.

In addition, they offer a premium plan that they haven’t listed on their website. MedicaEx also provides, via its portal, guidance for industries on regulating the equipment and medical device sectors.

For example, a current post on the portal says that the field is slowly coming to the significance of online marketing techniques. And they provide advice for many kinds of online marketing of B2B medical device.

Rishi Naiyar is the CEO and co-founder of the online health data company PocketHealth. He explained in related news how the clinical sector is digitizing health images and records to enable moving healthcare digitally.

Ascential acquires eCommerce firm Intrepid

eCommerce firm

Ascential, eCommerce optimization platform buy out the eCommerce firm. Intrepid works with brands in Southeast Asia. Its current deal value account to upto $250 million. It offers execution for Shopee and Lazada.

The company also came up with the statement, “Intrepid provides an entry point for our Digital Commerce business into the fast-growing Southeast Asian marketplaces, expanding its global footprint in this important region for eCommerce, Our clients are always searching for ways to access the next billion consumers, and Southeast Asia eCommerce provides a clear pathway to them over time.”

Ascential acquired the eCommerce firm with a cash consideration of $57 million. It will also be paying deferred consideration over four years. The consideration is between $100 million and $197 million. It is about the financial target. There is also a maximum total consideration concerning the company value of $250 million.

Intrepid has a very strong network in south-east Asia. It has also already proved its expertise in the marketplace. It has a great client base in the important region. There are also enhanced capabilities in the area. All of this will help Ascential come up with a better market for their products. It will help the digital commerce business to grow.

The same kind of acquisition was also seen some days ago. Citcon came into the partnership with Bold Commerce. It was to combine the Citcon payment with Bold’s eCommerce services. Many organizations are trying to either come into partnership or want to acquire eCommerce firms. The market today sees a great development in the eCommerce platforms.

Citcon President also confirmed the factor of growth with the companies. Consumers are getting hemmed into this ecosystem with the eCommerce firms. The merchants are looking for an effective payment system. And eCommerce firms are trying to cater to these services. So there is a major development in these domains. The North American eCommerce retailers believe in this very concept.

US Firms focused on real-time payments

real-time payments

Real-time payment methods and usage vary from one type of firm to other. For example, large U.S.-based firms make use of real-time payments for B2B.

8% of the 9% of the payment made uses real-time payments in the United States. The stats are average business activities. The average market-making about 4% of real payment rails.

To be clear, different sizes of firms gets different percentage in real-time pay. They make use of citing in a very different way. It varies from one kind of percentage to the other.

24/7 year-round is one of the main benefits. They seek to adopt real-time pay as an ability to top up the customer experiences. 42% of US firms believe in the same feature. They are all mid-market U.S. firms.

Another benefit is the instant deposit. It is also called out to 22% of the largest market firms. And 14% to mid-market firms.

Flexibility is also a major factor in the acceptance of real-time payments. We will see 16% of large-market firms and 9% of mid-market firms. So there is a benefit to the adoption of real-time pay.

The generic pain point firms believe to expect is the use of real-time pay. There is a need for the utilization of real-time pay. The current system faces a cost to support, or you can say integrate issues.

The picture for real-time pay is pretty clear. The large market firm will continue to receive two times the real-time payments as mid-market firms. There is a display of advantageous yet real-time payments. This will directly put mid-market firms at a competitive disadvantage.

Real-time pays hold the ability to accelerate payments. However, the pain point areas continue to be the current system and unalterable budgets. It accounts for almost 59% and 46% of the pain point among different firms. The survey covers more than 400 companies.

Interview with Polly Wong from Belardi Wong

Polly Wong from Belardi Wong

Team eCommerce Next interviewed Polly Wong from Belardi Wong to get more insights on Digital marketing. Following is our interview with her:

Can you tell us a little bit about Belardi Wong?

Belardi Wong is the leading integrated marketing firm in the country, working with more than 300 DTC brands and retailers across the country. Belardi Wong’s expertise spans across online and offline marketing channels, advanced analytics, creative, audience development, and strategic engagements.

How did you find yourself in the direct mail industry?

Belardi Wong started 24 years as a direct marketing agency specializing in list acquisition for direct mail and catalogs and has expanded over the years based on the needs of clients. Belardi Wong continues to be an industry leader for building prospecting audiences for print.

Why are more brands turning to direct mail?

There are several reasons. Digital marketing is only getting more expensive, more saturated, and more promotional. Also, the level of targeting for new customer acquisition far surpasses what you can do online, and you can’t replace the sheer amount of real estate that print offers to show your brand story and full product assortment.

What are the biggest difficulties that DTC brands face right now?

The single biggest challenge in 2022 for DTC brands is increased competition for wallet share. This will come from consumers shifting back spending to experiences, and it will also come from consumers continuing to explore new brands.

How has Facebook advertising changed for DTC brands over the last year?

In short, there is less accuracy in targeting and measurement than ever before, which coupled with double digit increases in CPMs and no growth in the U.S. user population, has led to under-performance.

How has that pandemic changed the way consumers buy retail goods?

Consumers are more discerning. They have become the “expert consumer.” They pay attention to product materials, pricing, customer service, customer reviews, package delivery times, brand messaging, etc. At the same time, we know that consumers are more and more willing to buy products online. Last year, 50% of total apparel sales in the country were online.

What are your predictions for 2022?

DTC will thrive as long as consumers continue to want to try new brands. Large retailers such as Target, Walmart, and Amazon will launch more private label brands to support this trend. Consumers are looking for newer, faster, more sustainable, and healthier ways to do everything. Consumers want to not only BUY different things but also DO different things, so experiences will regain market share. Despite considerable retail challenges, stores will still be critical for building brand connection and reach. All of this means that the customer experience is more important than ever.

Interview with Aaron Schwartz from Loop Returns

Aaron Schwartz from Loop Returns

Team eCommerce Next interviewed Aaron Schwartz from Loop Returns to get more insights on the challenges of small retailers. Following is our interview with him:

Consumers have come to expect Amazon-like levels of service when shopping online. What can smaller merchants & DTC brands do to keep up and meet these lofty expectations?

  • Choose a dynamic platform that has a vibrant ecosystem: Rather than trying to build your own eCommerce backend, integrate your shop with a pre-existing platform like Shopify. By listing your products on a platform with an extensive ecosystem, you’ll be able to easily set up and display your products in a mobile-optimized online shopfront with integrated payment processing. This gives customers the same seamless experience they’d have shopping on Amazon or another retail giant, without spending thousands of dollars in ongoing development costs.
  • Take advantage of add-on apps: Choose apps that are purpose-built for your particular ecosystem. This is where Loop can come in, since we are a Shopify-only brand. Aside from us, with Shopify you’ll be able to customize your store with more than 100 different apps that have been created by Shopify or third-party developers; helping you with store design, marketing, management, customer service, shipping and delivery, order fulfillment, and other categories.
  • Optimize customer support: Customers don’t want to wait a day for a response: 49% of customers say they’d like to hear back from you within less than a minute while using chat support. Customers using email are willing to wait a little longer, with 48% saying they’d wait up to 6 hours, and 94% saying they expect a response within 24 hours max. By partnering with a customer support platform such as Gorgias or Zendesk, you can give your customers the fast and personalized support they have come to expect.
  • Offer speedy delivery: Most customers have come to expect fast and free shipping, so the best way to compete with larger brands is to follow their lead. At least 51% of retailers now offer same-day delivery on at least some of their items.
  • Simplify the returns process: To compete with larger retailers like Amazon, you should offer free return shipping. And don’t make it a complicated process for customers to request a return; they should be able to use a self-service platform that enables them to set up their own return. 60% of customers will check out your return policy before buying, so make sure that it’s (1) generous and (2) clear

What aspect of Amazon’s CX is the most challenging for smaller retailers and brands to replicate in your view?

  • Offering same-day delivery is a great goal to shoot for, but it might not always make sense for your business financially. Same-day delivery is more expensive, so consider whether you should offer it in your default free delivery or tack on an extra fee for customers who need their orders faster.
  • Many brands think that having as seamless of a returns experience as Shopify is out of the question. That’s when the brands need to partner with someone like us, as we take that challenge away from them through our automated returns management software.

Returns and post-purchase experiences are often an afterthought when compared to other steps in the customer journey – why is this the case?

Many brands see returns as a perpetual cost center – where shoppers buy a product, find an issue, and return for a refund. On the surface, it may seem like you’re giving up potential profits by committing to hassle-free returns, and free return shipping – but you’re actually doing anything but. With the right tools, the post-purchase experience can be optimized to incentivize exchanges and create better shopping experiences, and therefore transform returns from a cost center to a profit center.

Why should businesses focus more effort on improving their returns experience?

About two-thirds of customers check your brand’s returns policy page before deciding whether or not to make a purchase from you and 73% of shoppers say that their returns experience will impact whether they’re likely to buy from that shop again. Online shoppers return, on average, between 15% and 40% of their purchases, so understanding their returns experience is an important consideration when determining where to shop. With a seamless returns experience, you’ll increase revenue retention, increase upsell value, and increase customer happiness – which leads to loyalty and repeat customers.

What does an improved returns experience look like in practice – how do consumers tend to respond to more seamless returns experiences?

An improved returns experience should be a self-service, automated experience where shoppers can initiate and process returns on their own without needing to wait for customer support. By using an automated returns management software like Loop, you’ll be able to cut down on customer support hours, and automate the entire returns and exchange workflow, while incentivizing customers to exchange products rather than sending them back for a refund. By incentivizing exchanges, the customer now has a second chance to buy something they love.

Closing Thoughts

As eCommerce grows, return rates follow. There are now millions of brands to choose from – over one million on Shopify alone. This means competition is fiercer than ever, making it harder for your brand to stand out. If any part of the customer journey is ineffective, your potential buyers will look elsewhere. By improving the post-purchase experience, you not only retain more revenue and customers, but complete the customer journey.

Interview with Andrew Chan from AfterShip

Andrew Chan from AfterShip

Team eCommerce Next interviewed Andrew Chan from AfterShip to get more insights on how e-commerce retailers can (and should) up their sustainability game. Following is our interview with him:

Why is sustainability in e-commerce important?

It helps to ensure that businesses operate in an environmentally-friendly way while maintaining long-term profitability and creating opportunities to boost revenue streams. As the world becomes more eco-conscious, shoppers are seeking products and services that leave minimal environmental impact. If businesses cannot meet that demand, they will lose out on potential sales. In fact, our recent sustainability survey found that 75% of shoppers want their favorite brands to invest more in sustainability; six in 10 indicated that they purchased from a brand in the last six months because of their sustainability initiatives.

How can e-commerce retailers develop a plan to reach net zero carbon emissions or carbon neutrality?

They can invest in renewable energy; design efficient shipping and delivery operations; and offset emissions. Tools like carbon emissions reports and carbon calculators can help retailers track and manage progress. They can also partner with logistics providers with existing sustainability initiatives or invest in green shipping options, including:

– recycled materials

– biodegradable packing peanuts

– recyclable boxes

– electric vehicles

– ships powered by renewable energy

They might also consider investing in carbon offsets – projects that help to reduce emissions elsewhere to cancel out emissions produced by the retailer.

What are some best practices for becoming a sustainability leader?

-Leaders looking to champion sustainability initiatives within their organization must have front-to-back insight into associated opportunities and risks. This helps to gain buy-in from other members of the organization.

-A strong network of “ambassadors” is essential for valuable insight, advice and support when navigating challenges of implementing new initiatives.

-Leaders must be able to incite passion in order to build support, and they should be able to communicate effectively and articulate the vision for change and benefits of taking action.

-Each member of the organization needs to see their senior staff embody causes they say they care about. Leading by example means living and breathing the values of sustainability in their personal and professional lives.

-Leaders can create a culture of sustainability by embedding sustainable practices into the fabric of the organization and ensuring those practices are met at all levels.

How can e-commerce leaders implement change based on best practices?

Practically speaking, they can communicate the need for change by creating a plan that outlines the steps necessary to effect change; and executing that plan. They should also monitor progress and make adjustments along the way. Leaders must also be prepared to deal with the often inevitable resistance to change.

What are some of the ways e-commerce retailers can measure their carbon footprint?

There are several:

-Conduct a comprehensive inventory of direct and indirect emissions sources: power consumption, transportation and waste and packaging. Data on upstream supplier emissions can offer a more complete picture. For example, a furniture retailer should track emissions from growing, harvesting and manufacturing the wood; and from shipping/transportation to their store or warehouse.

-Calculate the emissions intensity of each product/service by measuring emissions associated with each lifecycle stage, from production to consumption.

-Establish a baseline year as a point of comparison for emissions reduction targets.

-Track emissions over time to gauge whether or not reduction efforts are having the desired effect.

-Seek expert advice can be invaluable in understanding best practices to measure and reduce carbon emissions. Identify experts who have had success doing this in other sectors. Work closely with regulated industries to understand how they measure and report their emissions.

How can AfterShip’s Carbon Report help e-commerce retailers reduce their carbon footprint?

AfterShip’s Carbon Report provides data on shipping operations’ emissions over time, broken down by distance traveled, parcel weight and shipment method, allowing them to identify areas where they can improve efficiencies and reduce environmental impact. AfterShip’s carbon offsetting service can help retailers offset emissions from their shipping operations, helping them reduce their overall carbon footprint and support sustainability initiatives.

How can e-commerce retailers consistently communicate their sustainability accomplishments and goals with audiences?

One way is to include information on their website, either on a dedicated sustainability page or by ensuring that the information is included in relevant sections. Social media is a great tool for sharing blog posts, infographics or videos and can serve as a platform to address the importance of sustainability. Print advertising, public relations and events are also effective communication tools.

About Andrew Chan

Andrew Chan is the Co-Founder and CPO at AfterShip. Andrew has over 10 years of SaaS product development experience. He manages product managers, sales, and marketing teams at AfterShip. Before starting AfterShip, he worked for Accenture as a business analyst.

About AfterShip

Founded in 2012, AfterShip is a post-purchase platform that helps companies improve the consumer experience, increase revenue, and build brand loyalty. With more than 10,000 customers, AfterShip is used by leading marketplaces such as eBay, Wish, and Etsy, as well as iconic brands such as Gymshark, Kylie Cosmetics, Murad, and Kate Sommervile. AfterShip offers branded shipment tracking, notifications, returns, and exchanges, leading to increased sales and fewer WISMO tickets. Integrating with more than 930 carriers worldwide, AfterShip is the solution of choice for multinational organizations or those looking to grow internationally.

Interview with Mike Wallgren from Hero Digital

Mike Wallgren from Hero Digital

Team eCommerce Next interviewed Mike Wallgren from Hero Digital to get more insights on where businesses should invest in their customer experiences. Following is our interview with him:

1. What matters most to consumers – are brands listening to them as well as they should?

There are so many new popular digital platforms promising to provide the best customer experience.  Customer service chatbots are rising in popularity as they can seamlessly integrate with many CRM’s and can provide real-time solutions to common customer problems.  Advances in Marketing Automation Tools, Intent tools, and Loyalty platforms are also key digital features that many retailers are implementing to automate their customer experiences and reduce customer attrition.

However, it’s important to note that many brands feature these CX benefits, and simply investing in a loyalty program or chatbot for the sake of saying you have the capabilities won’t effectively move the CX needle in consumers’ minds.

Let’s take loyalty programs as an example. When the pandemic struck, every consumer-facing business rapidly moved online. At the time, only a handful of brands offered loyalty programs for their customers. But now, everyone does. Consumers, on average, are a part of 15 total programs, but are only active in 7. As you can see, and according to the data, loyalty programs are not effective for roughly half of brands. Sure, these businesses made the investment, but they didn’t truly put their weight behind the program. Consumers need to be engaged, and if you want your loyalty program to cultivate return visits, you’re going to need to do more than the bare minimum as a brand.

Chipotle is a company that is great at engaging its users via its loyalty programs and demonstrates how effective the technology can be. Recently, the QSR announced they’ll be offering Chipotle Rewards members the chance to score buy-one-get-one offers while watching the NBA Finals. Last year, Chipotle launched a rewards exchange with a video game and Tesla Model 3 giveaway. From a consumer perspective, would you rather be an active member of Chipotle’s program that constantly offers new and exciting ways to win or a simple point structure that nets you a free drink after X amount of visits? I’ll let you decide.

This example can be applied to other aspects of the digital customer experience. With so many new technologies available, many brands are implementing them without first understanding whether these will make the overall customer experience better or will add more friction on the path to purchase.

There are many different areas of the CX that businesses can invest their efforts into, what do you see as being the most important area of focus?

CX investments are not a one-size-fits-all approach.  Brands should align with specific use cases, so that you really understand the job that the various technology components will be doing and then determine which technologies will help them accomplish their goals. Otherwise, you risk making purchase decisions based on trends and the vendor’s desired outcome, rather than focusing on the technology that will truly help your business. Before undertaking customer experience and digital transformation initiatives, it’s important to make sure what you’re doing matters to the people you serve.

How can businesses best evaluate which aspect of their CX needs the most attention?

When planning for digital business transformation, prioritizing where to invest resources is difficult. Small mistakes can cost companies millions of dollars, or worse. Often, in an effort to keep up, companies invest in technology, without first examining the human needs that drive change. Decisions around digital strategy should be aligned around three key components:

  1. Customer journey touchpoints
  2. Key business processes
  3. Tracking the right KPIs

These three factors need to be finalized before making technology decisions.

How can businesses better leverage customer data to inform these decisions?

Data is key and it may take some digging, but your current systems most likely hold information about customer and prospect behavior, demographics, and path to purchase.

Interviewing employees in customer-facing roles like Sales and Services. This will give you qualitative and quantitative information that you can use to better understand the customer journey.

Additionally, despite increasingly consumer-focused data privacy regulations and growing concerns, people continue to expect personalized messages and shopping experiences from brands. In fact, two-thirds of consumers expect companies to understand their individual expectations and needs. Personalization should remain a top priority in today’s crowded commerce space, but retailers must note the importance of offering customers a personalized experience, whether that be in-store or online.

You don’t need a big data approach, you need a smart data approach. We have been fed the same narrative for years: Collect as much data as you can to glean the best insights. In reality, the hype around “big data” may not be justifiable. Instead, you should create detailed hypotheses and focus on the quality of your data rather than its quantity — a smart data approach. Start small by identifying a specific CX problem and run a test on a certain group of consumers.

Ultimately, as long as you remain compliant with privacy regulations, provide value and trust to your customers, and have the right tools and talent, you’ll be on the road to creating personalized CX.

How can companies narrow their focus and be sure they are making the correct digital bets when it comes to their customer experience?

Companies can narrow their focus and ensure they’re making the correct digital bets when it comes to the customer experience by understanding their customers from a holistic perspective. As mentioned earlier, this isn’t a one-size-fits-all approach. The “right” CX investment will be different for each organization. Moreover, brands need to dedicate adequate attention to their investment. Investing for the sake of investing won’t facilitate a positive CX experience and bring customers back to your business.

Prioritization of technology investments should follow the path- Available Data- Customer Use Cases, Key business processes and KPI tracking. Once you decide your needs, you can then build a roadmap that will help you iterate toward an optimal technology stack.

Interview with Sean Turner from Swiftly

Sean Turner from Swiftly

Team eCommerce Next interviewed Sean Turner from Swiftly to get more insights on Grocers need a new playbook to combat inflation. Following is our interview with him:

1. How can brick-and-mortar grocers fight inflation and help their consumers?

With inflation news hitting headlines—and pockets—every day, it’s becoming very clear that consumer budgets and the revenue of brick-and-mortar grocers are starting to feel the impact. With costs steadily increasing, and no slowing in sight, grocers must evolve and implement new strategies to keep prices low for consumers while delivering their own profit margins.

Creating digital solutions and adopting the tools and technology that shoppers have grown to depend on, will be key in not only helping customers save, but in building loyalty and bottom lines. By investing in retail technology and implementing a corresponding loyalty program—grocers can seamlessly connect the customer’s digital experience to a stress-free in-store experience.

When armed with the information they need, like up-to-date pricing and availability, along with the personalized experience of a loyalty program, shoppers can better budget their visit to the store. Available technology solutions that are currently in-market  allow grocers to provide just that with first-party data that connects the individual shopper to the best deals and savings based on their specific shopping habits.

For grocers, these digital solutions can also create new revenue streams while building brand relationships and their bottom line. A robust retail media platform that uses first-party data from shoppers and strategic brand partnerships allows retailers the opportunity to gain their share of the margin-rich $100B retail media market.

The bottom line is, grocers need to modernize and evolve in order to gain and retain customers, especially during times of aggressive inflation. By leaning into new technology and adopting the tools that can help shoppers save, they’re choosing to take the steps that are needed to survive—and thrive—until the tides change.

2. What are the biggest challenges these grocers face today (in addition to inflation)?

Two big issues stand out when looking at these challenges. The first is the fact that popular e-commerce giants and third-party delivery services are steadily encroaching on brick-and-mortar grocers with more personalized and digital options. As a result, they’re positioning themselves to become even more embedded in the grocer’s business and are ultimately taking ownership of the digital customer relationship and valuable first-party data.  In order to survive and thrive, today’s grocers must invest in their own digital strategy and connect the digital and in-store experience for their customers to ensure full control over those relationships across all touchpoints.

The second challenge lies in the fact that customers shop where they find the best deals on the products they want and, with the continuous supply chain backlogs we’ve been experiencing, it may not be at their regular store. With availability of products being impacted from day-to-day, shoppers are often forced to head to competitors that may have what they need in stock, breaking that loyalty chain and driving them away from their chosen grocer.

3. How is customer loyalty being tested during this period of great inflation?

Customer loyalty has understandably been tested as a result of inflation and changes in their behavior have put grocers in a position where they need to be laser-focused on retaining them. With shoppers budgeting more strictly and turning to technology to find the best deals and prices, retailers need to adapt to their evolving expectations and make sure to address their needs. Customers will go to the place where their dollars go the farthest, and that means one week a grocer is in, and the next they may be out.

Consumers are not only battling rising costs, but supply chain issues and escalating gas prices are adding pain points they’ve never navigated. With limited inventory on popular items, it could often take several stops for customers to get everything they need to check off their lists. However, recent data shows that people are making less trips to grocery stores because of high gas prices. Most shoppers see the value in staying at one store to save on gas and are willing to say goodbye to their regular grocery store in order to fulfill their entire grocery list.

4. What can brick-and-mortar grocers do to step up their digital strategies?

Brick-and-mortar grocers must evolve and embrace the new technology that consumers have come to rely on when shopping. With the increased use of mobile apps—and smartphones in general—these are trends that retailers can’t afford to ignore, with e-commerce and third-party apps encroaching on their customers and revenue. By investing in digital solutions—especially a mobile app—grocers are meeting customers where they are and giving them the tools to enjoy a seamless digital-to-in-store experience.

When tied to a loyalty program, mobile apps not only help increase store visits through personalized deals and offers, but they also give customers the tools they need to track purchases and rewards quickly and easily. Add in the convenience of fast-lane or cashless checkout and you’ve got a robust and appealing program that will help attract and retain today’s hybrid shopper.

Retailers can also leverage the technology—and the first-party data gleaned from it—to build their own retail media network, driving margin-rich revenue that can result in a stronger bottom line.

5. How can grocers leverage their physical store presence to maintain their market share from online competitors?

A physical store footprint actually puts grocers at an advantage over online competitors. As consumer habits change and as shoppers start returning to stores for the best deals (and to avoid costly delivery fees), it’s far easier for a grocer to build a digital presence than for an online retailer to build brick-and-mortar locations. In fact, retailers now have access to technology partners and resources that can make implementing a digital strategy quick and simple, giving them the same solutions as these e-commerce giants.

Today’s shoppers are hybrid. They want the ability to shop online and in-store, so grocers need to embrace digital tools to give shoppers the power and flexibility to shop how they want while providing the most value. By capitalizing on consumers’ willingness to go back to the store—and by offering them personalized discounts and offers—brick-and-mortar grocers are at an advantage in creating the shopping experience consumers really want.

6. How important is it for grocers to build their own digital retail media platform and retail media network?

As inflation and supply chain constraints drive up costs, a retail media network is no longer a nice-to-have — it’s a must-have. Retail media advertising in the U.S. is a $100B market and with this spending potential, it’s crucial that retailers jump on the bandwagon. By building their own network, grocers gain ownership of valuable first-party data that will help them to actively improve customer trust, access real-time shopper insight, and monetize ad platforms that drive margin-rich revenues.

The most valuable asset grocers have is the relationship with their customer. In order to nurture that relationship, they need to own the entire digital customer journey, and that includes creating a highly personalized experience. As grocers get to know their loyal customers more, they can use the first-party data they’ve acquired to align with brand partners to create highly engaging ads on the retail media side, generating new digital advertising spend.

7. How would a comprehensive digital retail platform enable grocers to provide a better shopping experience to their customers in the face of online and grocery delivery pressure?

There are many benefits retailers can leverage with a comprehensive retail platform, both for their business and for their customers.  The numbers show that over 90% of purchases still take place in-store despite the popularity of e-commerce, but that doesn’t mean grocers can leave technology behind. Omnichannel shopping is here to stay.

Customer behavior has changed, and shoppers want options to purchase both online and in-store. By investing in a digital platform, grocers are creating solutions that provide shoppers with a seamless, truly connected experience across all touchpoints of their journey. Access to information like product availability and real-time pricing, along with personalized deals on preferred brands and rewards incentives means customers have all the tools they need for a successful shopping trip. For retailers, this means increased in-store traffic, basket size, loyalty and lifetime value.

From a business standpoint, deploying a comprehensive technology platform including a retail media network allows grocers to generate margin-rich revenue. The additional cashflow associated with a robust retail media program can help retailers grow market share while withstanding current inflation challenges.

8. How can the added advertising revenue of a retail media network help retailers offset the impacts of inflation?

Brick-and-mortar grocers are seeing a rise in foot traffic as inflation challenges consumers to look for the best deals. Engaging customers with targeted deals, based on their individual habits and brand preferences, not only builds loyalty with customers, but with brand partners whose content and products feed your retail media program.

The additional revenue that margin-rich digital advertising generates allows grocers to invest in valuable loyalty programs that help them pass the savings on to customers.  The right technology partner can help grocers build the same tools used to popular e-commerce and retail giants to attract and retain loyal lifetime customers, all within their mobile app.

Gartner found marketing budgets have increased to 9.5% of total company revenue this year. With greater investment in marketing from brands, there is more opportunity for retailers to gain advertising revenue from their ad space. Creating a modern, agile retail media platform can ensure that brick-and-mortar grocers hold on to their dollars—and their customers—for years to come.

9. What are the top three trends the grocery industry should focus on or prepare for?

Inflation isn’t slowing anytime soon and is an obvious concern in the market now and for the future. Retailers need to be proactive—and above all—willing to evolve and adapt as trends continue to grow and change. Right now the top trends involve evolving consumer habits and expectations, increased reliance on mobile apps, and the growth of retail media networks.

Customers are more tech-savvy than ever before and the increased demand for an omnichannel shopping experience can’t be ignored. Grocers need to cater to today’s hybrid shopper and provide a seamless, connected experience that spans the online and in-store aspects of the shopper’s journey. By engaging their customers and meeting them where they are, they’re building valuable loyalty that can grow and evolve as technology changes.

Which brings us to mobile apps. Shoppers have come to depend on their smartphones to find deals and discounts in real time. The grocer who doesn’t embrace this kind of technology soon will find themselves at a great disadvantage. While shoppers are returning to stores for their final purchase, expectations are now much higher in the planning stage of the shopping trip. By delivering accurate inventory information, and by offering deals and suggestions based on first-party data, your mobile app can become the bridge between your digital presence and your store, giving you full ownership of the entire customer journey.

Finally, the implementation of a retail media program is key to generating margin-rich revenue that shouldn’t be left on the table. With the correct platform, grocers can tap into CPG wallets, obtain valuable first-party data, make thoughtful inventory choices and better serve their customers. By partnering with brands, and by using real-time insights to feed their digital marketing strategy, grocers can generate the dollars they need to help their business flourish.

While trends continue to evolve, it’s important that grocers find the right technology partners to help them grow these programs. Gone are the days where robust technology development means big budgets and large IT departments. Solutions are out there that can implement these programs in a short period of time with little internal manpower.  By investing in these solutions now, and by continuing to adapt as trends morph and change, today’s brick-and-mortar retailer will be equipped to succeed and survive in this new digital age.

Interview with Eric Netsch from Tapcart

Eric Netsch from Tapcart

Team eCommerce Next interviewed Eric Netsch from Tapcart to get more insights on Mobile E-commerce. Following is our interview with him:

1. What is Tapcart, and where did the idea of Tapcart come from?

Tapcart is a mobile-commerce platform that helps Shopify stores create and launch mobile apps with no coding or developers needed. We saw that merchants who were interested in building a mobile app were endeavoring a drawn-out process that included hiring app developers that took anywhere from six months to a year to launch an app. We wanted to provide an alternative solution where merchants could self-creat and launch an app with ease, with very little maintenance required after launch. The resulting product was Tapcart.

2. What are the benefits of Tapcart’s mobile apps being codeless?

Building a mobile app from scratch is no small feat. Oftentimes, brands need to hire fully-fledged teams of developers to create and maintain a scalable mobile app. Having a codeless app gives brands the power to seamlessly sync their store’s back-end to the app while giving them the ability to design a world-class application with the use of a simple drag-and-drop feature. The difference with a cordless mobile app is that you can launch in just two weeks, whereas alternative options can take upwards of a year to build.

3. What industries does Tapcart build apps for?

Tapcart services all industries—including fashion, accessories, beauty, wellness, food,
beverage, music, home goods, and more. Plus, Tapcart services merchants of all sizes—from mom and pop shops to household name brands.

4. What pain point is owned marketing solving, and why should merchants implement owned communication channels?

In today’s landscape, merchants are struggling to reach their audiences. Paid advertising costs are at an all-time high and alternative channels are either riddled with competition or gated by fickle algorithms. Owned marketing gives stores the ability to build a self-contained audiences list that they can reach whenever they want—empowering stores to better reach, engage, convert, and retain customers and build brand loyalty as a result. Until now, brands have been wholly reliant on Facebook, Instagram, and Google to get their messaging in front of their audience. But by being dependent on those platforms, they now have become exposed to the privacy, policy, and algorithmic changes that are continually taking place. As a result, their brand messaging is being seen by fewer people, lower-intent buyers, and brands are paying more to acquire that customer. But if a brand were to truly “own” their channel, like they can with a mobile app, they have full control of who sees their message through push notifications and end up being in the driver’s seat of the messaging to their audience. Taking it a step further, the consumer environment has become more challenging with the inflationary pressures. Brands are feeling caught between a more frugal consumer and skyrocketing customer acquisition costs. But with an app, push notifications are unlimited and free. This gives the brand an amazing ability to own its audience and focus on retention instead of worrying about how much it will have to pay to acquire more customers. Therein is the most valuable part of having an owned sales and marketing channel. True control.

5. Are there any best practices for push notifications that Tapcart recommends?

We recommend that brands send at least one push notification a week. We have evidence that sending two push notifications in the first 90 days after a shopper downloads your app can increase their retention rate by 88%. Whether you are notifying your customers about an online event or an app-exclusive sale, push notifications drive instant traffic to your mobile app and spike conversions as a result.

6. Where do you see the trajectory of mobile commerce over the next five years?

We see mobile being the de-facto space of hoW shoppers will choose to transact and engage with stores. It’s important now more than ever that brands invest in channels that cater to mobile-first strategies and center mobile as a critical component of their growth, longevity, and approach to increasing CLV.

7. What expectations do you have for the future of Tapcart in the years to come?

In the future, we hope to expand our feature set to include creative ways to help stores not only better retain customers, but also acquire, and expand their customer base. Mobile apps no longer are perceived as a barrier to entry, but rather the future of how shoppers prefer to engage with brands.

About Eric Netsch

Eric is the co-founder and CEO of Tapcart, a mobile commerce platform powering highconverting codless mobile apps for Shopify’s fastest-growing brands. Eric has been featured in TechCrunch, Business Insider, The Verge, etc.

About Tapcart

Tapcart is a mobile commerce platform that turns Shopify-powered brands into high-converting mobile apps. Tapcart works with the biggest brands like Fashion Nova, Pier 1 Imports, Chubbies, and 3,000+ others.

Citcon collab with Bold offers 150 payment methods

payment methods

Citcon, a payment gateway recently incorporated with Bold, facilitates multiple payment methods. For example, it will make use of API into Bold’s headless checkout. This will allow retailers in acquire DTC brands. And they will be able to process 150 payment methods.

All of this will be via a single integration. The combination of the merchant and brands will process the payment. So it is for digital wallets and local schemes. Citron’s full-stack payments with Bold commerce check-out will widen the scope. They will be easily reached and do business in Asia-Pacific regions.

Wei Jung, President and COO of Citcon, stated, “Ecommerce is, by definition, a global marketplace. By making it easy for businesses to accept the digital wallets and payment schemes preferred by consumers in countries like China, South Korea, Singapore, Indonesia, and Latin America, we enable any business to operate as a global business and reach these previously; untapped markets.”

The payment methods for Citcon will be further simplified into payment processes. The company will channel digital wallets and payment schemes. It is done via integrating fund settlement. The gateway services will offer bold powers checkout experiences. There is also a need to offer better flexibility and ease of access.

The company will focus on reducing cart abandonment. There will be continuous expansion into new markets. Citcon will provide Bold with the opportunity to expand its business globally. Bold Commerce will try to better recognize a seamless checkout experience for customers. The checkout capabilities will also reach certain heights. There will be an expansion in payment methods across all sections.

Bold commerce has many international brands using its payment methods. It features Pepsi, Vera Bradley, Staples Canada, Mars, and Harry Rosen. To state the figure, it also accounted for almost 90,000 merchants. The pricing, promotion management, and subscription capabilities are at par. The buy online, pick up in-store (BOPIS) is one of the payment methods.

Nike earnings break the record against all odds

Nike earnings

Nike earnings surpassed Wall street’s expectations. This was due to the increasing demand for sneakers and sportswear worldwide. In the fourth quarter, the company saw covid lockdown. In addition, the market got tougher for the consumer environment in the United States.

Nike earnings continued to surge irrespective of increased transportation costs. There was a disturbance in shipping leading to a delay in product delivery. All of those problems continue to persist. Shares saw a fall of 3% irrespective of the company’s profitable quarters.

There was the anticipation that Nike’s earnings to suffer. It was to go flat, unlike last year. The fundamental issue with all of this was the same; Covid lockdowns. The low double-digit growth was also expected with the issue.

The CFO of the company called out, stating, “We continue to closely monitor consumer behavior, and we do not see signs of pullback at this point, and so we continue to execute the strategy and the plan we have, which is working…

Nike factored elevated ocean freight costs, increased product costs, supply chain investments, and higher levels of markdowns into its forecast.”

To get a closer look at Nike earnings, Wall Street by a wider gap. The actual earning was 90 cents per share. However, 81 cents per share was the expected earning per share. The total revenue was $12.23 billion.

The expected Nike earnings were $12.06 billion. So we can make out how well the company surpassed all the prior expectations. The company’s strategies were also set to shift. The direct sale went up by 7% to $4.8 billion. The wholesale business, though, saw some struggle. It went down by 7%.

The company today is paying five times more for transportation. The products to transfer from Asia to the U.S. Transit time also got longer by two weeks. However, Nike’s earnings continue to grow against all odds.

Inter & Co, Brazilian Super Apps listed on Nasdaq

Super Apps

Super apps are emerging solutions for banking and any other kind of investment. Moreover, Brazilian super apps are no way behind in facilitating multi-utility features.

The inter-app is available everywhere today. The single-screen offering of microservices in one place is time-saving. It is getting more advanced, refreshed, and refined every second. The main secret behind these Super Apps is the secret technology.

Super Apps today offers something for everyone. It is beyond any specific age group. From the older generation to the younger, everyone can use it.

These apps build a pyramid of reactions. The broader the base, the more advanced the services get.

To take an example, it allows the user to buy a chair to transfer money online. All of it can be just done from one app.

When it comes to listing, Inter & Co. has listed the shares on Nasdaq Stock Market. So it was the right time to list the shares on Nasdaq. The market is volatile, but the surge in demand will boost the share prices.

João Vitor Menin, CEO at Inter&Co, stated, “We can do a follow-on to raise more equity — if we want, but we don’t need to. That’s how comfortable we are in our ability to keep growing our business despite the macro-environment…

It’s a good transition — and it’s exciting to be able to put these two things together at the same time.”

Menin also said that the investors abroad are pretty firm with their decision. It was one of the great attempts to build holdings.

The company is focusing on pyramid offering core banking services. The cross-border offering in the states is an enthusiastic attempt to expand the relationship.

The company saw many positive responses and then took this path of monetization. The banking entity listed in the U.S will help them with a better loan portfolio. The company believes in serving the consumer with an interactive platform.

Modern Clearing Banks emerges as a great solution for Global payments

Global payments

Global Payments are easy to use, but it is a lengthy and costly process. It is a complex and time-consuming process. However, the means to resolve all these issues are new features. The new FI accelerated innovation is offering simple Global Payments.

The term ecosystem in business is also defined in terms of balance and efficiency. The inconsistency in Global Payments leads to bad payment experiences for customers. The payment structure is one of the weakest in the world.

The global payment details the bank to bank messaging discussing the transaction. It also includes user authentication in the process, which takes up a lot of time. The variable process time leads to inefficiency.

However, it is not only the fractured system. The negative impact on the company revenue, on the other hand, is another major issue. Almost $150 trillion transactions are occurring every day globally. 30% of the US firms experience late payments due to the discussed inefficiencies. Sometimes, new payments take more than a month to get cleared.

The solutions currently offered are not enough. It will not speed up the payment process. Therefore, there is a need for an effective payment solution that can revitalize the entire system.

The emergence of a clearing bank is not new. It has been there for the longest time. They are getting modernized. The clearing banks offer faster transactions.

With the use of a clearing bank, Global Payments can get authentication faster. The process of the transaction will be on-time. The speed and efficiency will increase with greater security.

The modern clearing banks will make the ecosystem for Global Payment more redefined. There will no longer be any comptonization in speed with the core functions.

It will make the Global Payments available for every institution. A more integrated yet effective transaction in-house operation every time.

Digital payments orchestration is becoming a problem for retailers

payments orchestration

With increasing dependence on digital payments, better payments orchestration need is also increasing. The retailers are having a hard time relying on digital platforms. There have been many cases of payment outages. The lack of warning destabilises the entire system. This is directly affecting the customers.

Many merchants and retailers are asking for payment orchestration. There is also a need for multiple payment gateways. The solution provider needs to spend a good deal of money in the IT sector. Businesses often look for payment orchestration through third-party. It will remove the payment implementation. There is a single stream requirement for customers. This will work in everybody’s interest providing merchants with a seamless option.

Payments orchestration will reduce the required technical expertise for better gateways. Payments orchestration is going to hit $1.98 billion in four years. The compound account for a rise of 27%.

It can help retailers to offer customers multiple payment options. And it can easily handle outages with many frictions. So the dependence on the singular payment portal is not going to work out anymore.

For example, Elavon’s faced a payment outage for six hours. It was impossible to manage debit functions. Most of the payment terminals became more inefficient. As a result, many customers were not able to pay for the selected goods. This turned them away, and there was a huge loss for Elavon. Elavon accounts for $300 billion in the market.

eCommerce is becoming more and more competitive. With the pandemic, the number of online shoppers is increasing. The only way to attract more customers is by offering a seamless experience. It also serves as a means to monitor transactions.

Though, most of the eCommerce platforms still offer single payment gateways. The multi-system payment gateway is still not available. Though there is an increasing need for digital payment, the online server is also going down. In those cases, there is a requirement for an effective payment orchestration.

Fine-Tune, one of the eCommerce firms trying to save time on checkout

eCommerce firms

eCommerce firms are trying to attract more customers by offering faster checkouts. Customers generally look for quicker checkout options. It may be the top measure of success for many eCommerce firms.

Harry Chemko is the co-founder and chief strategy officer at Elastic Path. He stated, “If your checkout is going to take more than a minute, you’ve gotten distracted, you’ve gone and done something else, and that is going to take the cart conversion rate down, just from having to fill out forms and things like that.”

It is necessary to offer a choice of payment methods. Consumers generally require payment methods that are easy to use and fast. This encouraged the payment space for digital payment as well.

There is a need for better integration in the checkout. Most eCommerce firms, even some great brands, fail to offer that. The quicker checkouts will yield more customers. For example, you can attract people by simply running ads on social media platforms. The customer engaged in-store are also offered online and through social channels. The checkout needs to be smooth and easy.

The eCommerce firms must challenge their traditional use of checkouts. Instead, they must put the technologies in use to facilitate customers with faster checkouts. This will drive the customers to the platforms.

eCommerce firms must work on user experience. It is all about performance and building interaction. And, it is not only about checking out. It also concerns post-sale services and returns. The retailer must offer a seamless experience to customers.

The focus should be on offering products with the best alternative options. The feature of add-ons is also required. eCommerce Firms should incorporate better technologies to reform their platform. Pandemic pointed out the various limitation of these platforms. All the limitations should get converted into strength. There is an extensive need for the same.

eCommerce giants will be competing soon in China’s shopping festival

eCommerce giants

China is in the middle of the 618 festival, bringing some eCommerce giants to attract the target audience. Some of the eCommerce giants which participate with all their resources are Alibaba and JD.com. They are going to attract shoppers with discounts and many promotions.

The country’s festivals getting affected by China’s connection with Covid-19. The economic fallout is due to the pandemic. The country was worst affected, too, by the lockdown. The financial powerhouse, Shanghai, was one of the affected cities. Consumer buying power is also affected by it. As a result, economists are trying to cut the growth outlook for China.

It was in the first quarter that Chinese eCommerce giant Alibaba showed the slowest revenue acquisition. This was due to the fall of the global economy and increase regulation in the domestic sector.

Sharry WU, EY’s consulting business transformation leader, stated, “As cities reopen, we should expect a huge boost in online consumption, in addition to footfall returning to stores. Although we are seeing a clear trend of downward growth rates for major shopping festivals, every e-commerce platform is presenting its largest promotion scheme ever to attract consumers back online this summer…

Overall, we are confident that the appetite for consumption in China remains strong, but we do expect consumption to be less diversified, with a heavier focus on organic food items, home appliances, personal care, etc.”

The transaction volume of the overall eCommerce giant valued at 578.5 billion yuan. The analysts in the country are expecting slow growth this year. However, there is the expectation of a 20% increase in the year. Consumers buying power is to increase with better discounts from eCommerce giants.

JD.com and Alibaba are both trying to lure more customers. With almost a 50 yuan discount on every 299 above order at JD.com, Alibaba shoppers are also going to freeze the product till July 5 too. However, some analysts are expecting it to go down than the earlier years.

Smartphones are now driving retail purchases in Brazil

retail purchases

The Brazilian eCommerce is on fire with smartphone retail purchases. 2/3 of the retail purchases are getting done by smartphones in the country. Another interesting fact is that the means to order is the same, but the order is not done in the same fashion.

Retail purchases are getting done via the app, mobile wallets, and also in stores. This also clearly defines the strong presence of mobile users enabling the new businesses to grow more. As a result, the Brazilian market is on high-speed growth.

However, it is essential to offer mobile shopping features to local business owners. It is to make their product visible. However, it was one of the findings from the Brazilian edition of “The 2022 Global Digital Shopping Playbook”.

The recent survey conducted by PYMNTS and Cybersource collaboration included 602 local business owners and 2,201 customers. It was to conduct the shift in a conundrum in their retail purchases mode. And how it is affecting the global economy. There will also be local merchants going through changes in the expectation.

Smartphones serve as a means to evolve their retail purchase experience. 47% of shopper who generally shops from physical stores utilizes their smartphone for an in-store shopping experience. It is also more than Australia, the United States, Mexico, and the United Kingdom.

The increasing demand for in-store options is disturbing the pickup facilities. Local eCommerce shoppers often prefer home delivery. 75% of the shoppers are asking so in their recent orders.

However, Brazilian business owners are offering all kinds of services to increase their sales. All digital features listed irrespective of most of them going unused by customers. Some of the listed services are cross-channel digital profiles, on-time inventory, and navigation apps.

We can also agree with the finding stating that Brazilian retail purchases are going under great influence via smartphones.

SpartanNash is set to buy existing grocery brands

grocery brands

A Michigan-established and Amazon-linked grocer vouches to buy existing grocery brands. SpartanNash aims to remove and establish an undifferentiated market. In addition, it is trying to grow its retail footprint.

The company gave the news of the acquisition of the northwestern Michigan grocery chain. Shop-N-Save Food centers feature three stores in the area. It will now be catering to the SpartanNash Family Fare brand.

Tony Sarsam gave the statement, “As a People First company, we welcome the Shop-N-Save team into the SpartanNash family, and we look forward to earning the loyalty of our new community members. Our grocery stores are an important contributor to our business strategy, allowing us to provide a full portfolio of solutions for independent and chain customers that go beyond food distribution.”

The leverage of the acquisition of grocery brands is to put the innovative products in the arena of the global market.

Currently, Amazon is on a deal to purchase 15% of the shares in the company. As a result, Amazon will now be able to expand the grocery brands quickly and facilitate the food distributor offering retailers with an infrastructure.

Amazon finalized the deal in the year 2020 to purchase the stakes in the year 2027. The deal requires Amazon to buy goods worth $8 billion from the retailers. So it is in 7 years. SpartanNash also finalized a deal of $25.8 million for lease distribution centers.

SpartanNash announced Bennett Morgan as its Senior Vice President and also the chief merchandising officer. The point to note is that Bill was earlier appointed Amazon Fresh Category leader.

He was responsible for the grocery store business for Amazon and its expansion of it to the brick-and-mortar space. This indicates a more direct budding between Amazon and SpartanNash relationship.

The partnership will surely boost Amazon’s grocery business. And, at the same time, beneficial for other grocery brands. A global network to sell offers a wider base of the target audience.