Dutch B2B platform Orderchamp1 has just completed a fundraising round to help it expand in Europe. The wholesale marketplace lets e-commerce merchants purchase from 1,800 brands offering 200,000 unique products at discounted prices and with low minimum order quantities.
“Our retailers visit our platform several times a week to source unique products for their store or webshop”, co-founder and CEO Joost Brugmans says2. “That is why we add dozens of new brands daily rather than weekly, which retailers can purchase quickly and easily. Based on previous sales data of tens of thousands of retailers, we can better predict whether a product will sell in that particular store. This way, our stores can continue to stand out from the crowd and strengthen local retail.”
He adds “the majority of the investment will be used to increase our international footprint, improve the digital purchasing experience, and further develop our powerful technology including machine learning and integrations with e-commerce software.”
Luxury brands may typically be bought by those in higher net worth brackets, but a new TikTok3 trend is making designer items more accessible to those who aren’t.
A growing number of TikTokers are buying the cheapest luxury item from brands such as Louis Vuitton4 and Prada5, and then posting unboxing videos of their new purchases. The hashtag #cheapestthing has amassed over 130,000 views on the social media platform, whilst #cheapestthingtobuy has over 80,0006. Many users are also showing how goods can be upgraded – for example, @Steffieinthecity attracted over 7.2 million views on a video where she turns a Prada keychain into a necklace.
This “aspirational consumer” trend shows there’s room for luxury brands to attract new customers and build loyalty by promoting and celebrating smaller pieces from their designer collections.
E-commerce software provider Shopware7 has released its latest update. The new version features Shopware Markets which enables shop owners to seamlessly connect their online shop to Amazon and eBay, providing a unique shopping experience. Orders through these marketplaces appear directly in the admin panel of Shopware.
“Retailers often see the extra effort of having to list their products and handle sales outside their usual processes as cumbersome. Shopware Markets removes these hurdles,” the German company promises8.
Shopware Markets is available in various price packages: the basic, Plus and Pro edition. The last two packages allow online shop owners to transfer an unlimited number of products to the marketplace, whilst Pro also reduces transaction fees.
In addition, the software update enables a more seamless checkout process, and a feature that allows customers to create wish lists of their favorite items to save for later.
As part of its pledge to drive awareness around climate change, ‘buy now, pay later’ giant Klarna9 has launched a tool to help its 90 million customers track and reduce their carbon footprints.
The new feature will provide those shopping through the payment platform with an average kgCO2 value for each purchase. In the long run, Klarna aims to further enable consumers to understand the true cost of consumption and give them the opportunity to take action.
“With fat, sugar and salt levels labelled on food we buy, why shouldn’t our CO2 emissions be just as visible?” says Sebastian Siemiatkowski, CEO of Klarna10. “This type of information shouldn’t be a premium or luxury that consumers pay for, but rather an essential part of every shopping journey.”
Is your business trying to attract European buyers? A new report has revealed some of the expectations of consumers there when shopping with international retailers.
Nets’ E-commerce Report 202011 conducted 11,000 consumer interviews across eight European countries and found pricing to be a big driver of cross-border purchasing decisions. “Lower prices compel around 51% of consumers to shop cross-border despite language or shipping complexities,” the report stated, although warned “high shipping costs are the primary reason for the cancellation of online purchases, signalling a consumer demand for pricing transparency.”
In terms of payment across all European countries, “[the] preference is local and personal, and our survey shows that it remains one of the top three reasons why consumers cancel online purchases. What’s critical here is that e-commerce businesses offer their customers the most convenient buying experience possible.” Learn how to do just that with our exclusive guide to the leading payment services for e-commerce businesses. For more information on reaching cross-border European customers, have a look at our International Shipping Toolkit Guide.