Walmart Gets Back to Basics as Grocery Sales Grow
1.7M
Google has announced that it is working with Shopify to introduce a new integration across its shopping platform. This new feature allows Shopify’s 1.7 million merchants can easily list their items with just a few clicks where Google sells. That includes shopping sites, as well as other properties such as Maps and YouTube. Last year, Shopify has generated $3 billion in revenue, which is 86% high growth from 2019. In the first quarter of 2021, Google has achieved a 32% rise in online sales. Later it needs to compete with growth achieved by its major competitors that include Facebook and Amazon, which have seen ad sales surge 77%.
$24.2B
With vaccinations rolling out and Covid-related restrictions eased the people returned to shopping at physical stores due to this Target, Walmart (WMT.N) and Macy’s (M.N) sales have been increased. Target Chief Executive Brian Cornell announced that its quarterly sales have been rosed 23% to $24.2 billion and its share pulled up by 4%. As per IBES data from Refinitiv, a rise in store traffic and digital sales help to drove a 22.9% jump in comparable sales. On other hand, Walmart’s comparable sales increased by 6% and TJX Cos., which owns T.J. Maxx, Marshalls and HomeGoods said their comparable sales grew by 16%, Lowe’s rose by 26%.
45%
Advertiser Perceptions’ survey found that U.S advertising executives at brands and their agencies are showing more willingness to attend, sponsor or create in-person events in recent times, especially during the second half of this year. The executives who replied they are ready to attend events in 2021 Q3 or Q4 rose to 45% from 37%. The survey also found that only 13% of respondents are willing to attend live events in Q1 2022. The percentage of executives who are ready to start in-person events probably in Q3 and Q4 2021 pulled by 31% in April from 27% in February. On the other hand, the percentage of those who said the time to resume creating events during that same period increased to 30% from 23%.
$1B
San Francisco-based start-up Databricks has surged its growth in cloud software for managing data on behalf of companies. Investor predicts that Databricks would reach $1 billion in revenue by 2022. In February, the company has raised $1 billion at a $28 billion valuation, with the top U.S. cloud providers including Amazon, Google and Microsoft. Investors were still ready in sinking $2 billion to $3 billion into Databricks during the funding round.
4.5M
In order to introduce a new social shopping experience to its users Snapchat app partnered with Poshmark. These new features will be accessible in the U.S in the coming weeks. Poshmark has 4.5 million active sellers who constantly refresh and organize the vast marketplace with more than 200 million products and 9,000 brands. Now it is available for Snapchat users to explore and shop the brand that is trending. Poshmark noticed that its users engaged in 30 billion social interactions, the majority were Gen Z. Snapchat is mostly reached 90% of Americans aged between 13–24, so Poshmark is directly targeting Gen Z as a key future consumer. Poshmark kicked off its IPO at $42 per share, but the stock spiked to $101.50 by market close.