Today In Payments: Amazon Sellers Ring In $4.8 Billion In Holiday Sales; DoorDash Valuation Could Hit $28 Billion
In today’s top news, sellers on Amazon made more than $4.8 billion from Black Friday through Cyber Monday, and DoorDash could see a valuation of $28 billion from its IPO. Plus, Apple Fitness+ could launch soon, after some fitness instructors have hinted at its approach.
Amazon merchants brought in over $4.8 billion in global sales from Black Friday through Cyber Monday, a 60 percent increase over 2019 sales for the same period. Record demand for goods has helped merchants’ bottom line during a challenging economic time due to the worldwide pandemic.
DoorDash is reportedly seeing good demand for its IPO, boosting its estimated valuation rise to some $28 billion. In a recent filing, the company said it sees a “large addressable opportunity ahead of us in the food vertical,” but is also looking to expand to other verticals.
Instructors are teasing new workout models on Instagram, hinting that Apple Fitness+ is on the verge of officially rolling out. Announced last September, Apple Fitness+ is a workout class subscription service powered by the Apple Watch.
Costly professional services from accountants, lawyers, marketing firms or the like are often more than small businesses want to (or can afford to) pay. That ultimately means few get the advice and services they need — and many miss out on improving their businesses over the longer term. QuickFee helps businesses pay for those professional services by creating installment plans.
Loyalty programs have been a mainstay for keeping grocery shoppers from switching to a competitor, but the pandemic has added a new layer to that loyalty equation. A new PYMNTS study of a national sample of 2,000 U.S. consumers reports that touchless payments — and not necessarily better prices on produce — is what consumers now need for grocers to keep their business.
SMBs are going global as they look cross-border for new business, but must convince prospective buyers that transacting with them will be easy and convenient, says Kivanc Onan, Alibaba’s head of payments and financial products strategy for North America B2B. In the Back-Office Optimization Playbook, Onan explains how eCommerce marketplaces help SMBs offer compelling payment terms that foster trust and win them over.
With the Thanksgiving weekend giving way to Cyber Week, the lion’s share of the holiday spending is already behind for the retail industry. But now, retailers need to focus on the digital-first economy and the technology and feature set behind it if they want to compete for the 40 percent of holiday spending that still remains.