Tag: Commerce

08
Oct
2020
Posted in technology

Louis Vuitton, Volvo tapping Thai social commerce via Line chat app

By Chayut Setboonsarng

BANGKOK (Reuters) – Luxury fashion and auto brands in Thailand have turned to selling their products on Japanese chat app Line amid the coronavirus pandemic, tapping the country’s growing appetite for social commerce, a top executive said on Thursday.

Brands like Louis Vuitton, Chanel and Volvo were among those that opened official accounts on the messaging app, which outranks Facebook’s WhatsApp and Rakuten’s Viber in Thailand, aiming to connect with users during a coronavirus lockdown.

“The luxury category was forced to adapt because their stores were closed,” Line Thailand chief commercial officer, Norasit Sitivechvichit, told Reuters.

Thailand earlier this year imposed a nationwide curfew and closed malls for nearly two months to contain infections.

“During the pandemic, sellers became very active,” Norasit said, adding that others sold cosmetics and fast-moving consumer goods.

Line, which charges sellers for sending messages and live streaming, said its monthly active users in Thailand grew from 44 million to 47 million this year, its second largest market after Japan.

Volvo successfully sold cars on the platform after launching in May and studying customer data, its Thailand head of marketing and digitalization, Jean-David Harel, said.

“We have an understanding of which models they own today, which interest they have and when they plan to change their existing car,” he said.

Social commerce is widely popular in Thailand, where merchants sell directly to customers through social media like Line and Facebook’s Instagram.

Line last year introduced a feature for merchants to organise inventory and online store fronts, which now has over 50,000 users.

Another tool to support sellers with customer relationship and data management is slated to launch next year.

E-commerce platform, JD Central would also launch services for sellers.

Line will soon introduce “MyRestaurant” with its food delivery app, Line Man Wongai, to

02
Oct
2020
Posted in technology

Tech CEOs will testify before Senate Commerce Committee

By David Shepardson and Nandita Rose | Reuters

WASHINGTON – The chief executives of Facebook <FB.O, Twitter and Alphabet-owned Google have agreed to voluntarily testify at a hearing before the Senate Commerce Committee on Oct. 28 about a key law protecting internet companies.

Facebook and Twitter confirmed on Friday that their CEOs, Mark Zuckerberg and Jack Dorsey, respectively, will appear, while a source said that Google’s Sundar Pichai will appear. That came a day after the committee unanimously voted to approve a plan to subpoena the three CEOs to appear before the panel.

Twitter’s Dorsey tweeted on Friday that the hearing “must be constructive & focused on what matters most to the American people: how we work together to protect elections.”

The CEOs are to appear virtually.

In addition to discussions on reforming the law called Section 230 of the Communications Decency Act, which protects internet companies from liability over content posted by users, the hearing will bring up issues about consumer privacy and media consolidation.

Republican President Donald Trump has made holding tech companies accountable for allegedly stifling conservative voices a theme of his administration. As a result, calls for a reform of Section 230 have been intensifying ahead of the Nov. 3 elections, but there is little chance of approval by Congress this year.

Last week Trump met with nine Republican state attorneys general to discuss the fate of Section 230 after the Justice Department unveiled a legislative proposal aimed at reforming the law.

The chief executives of Google, Facebook, Apple Inc and Amazon.com Inc recently testified before the House of Representatives Judiciary Committee’s antitrust panel. The panel, which is investigating how the companies’ practices hurt rivals, is expected to release its report as early as next Monday.

Source Article

30
Sep
2020
Posted in technology

Social Commerce Market – Actionable Research on COVID-19 | Rising Use of Social Media Advertising to Boost the Market Growth

The global social commerce market size is poised to grow by USD 2.05 trillion during 2020-2024, progressing at a CAGR of almost 31% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200930005610/en/

Technavio has announced its latest market research report titled Global Social Commerce Market 2020-2024 (Graphic: Business Wire).

The rising use of social media advertising is one of the major factors driving the market growth. The e-commerce industry uses social media platforms for advertising and increasing their customer base. With the rising popularity of social media, e-commerce advertisers use banner display ads and sponsored content to attract customers. These platforms help in effectively engaging the target audience. The posts on social media platforms such as Facebook and Twitter are increasingly being viewed and shared by users. Circulation of the posted content increases traffic to the company’s website and expands the customer base. Such benefits have increased the popularity of social media platforms, in turn, propelling the growth of the social commerce market.

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Report Highlights:

  • The major social commerce market growth comes from laptops and PCs segment. Laptops are widely used for gathering information such as customer reviews, product information, and product ratings. The widescreen of the laptops and PCs provides easy access to product information. These devices are also used for the promotion of content through advertising. These devices help