Another busy week has gone by and the weekend is finally here! But in case you’ve missed what has happened these past four days, here’s your summary of this week’s e-commerce news.
Black Monday: China’s Market Plummet That Dropped The DOW
On Monday, August 24, China’s stock market showed that their economy is slowing down dramatically and the Chinese government’s efforts to bring it up brought no response. The Plummet then pulled our market down as well, causing some panic from those who remembered the 2008 crash.
After what they call ‘Black Monday’ the stock markets are on a steady increase, and surging as of Wednesday and Thursday. While we’re thankfully bouncing back, this is just a scary reminder of how entwined our economies truly are. This is obviously a major talking point for our presidential candidates.
Alibaba’s Share Prices Drop, but the CEO Still Stands Resilient
Alibaba’s share price has dropped below the initial offering price of $68 for the first time on Black Monday.
However, the CEO, Daniel Zhang stands resilient by stating: “Alibaba’s values are reflected in the pursuit of our dreams and to create value for our customers. Our values do not waver with the fluctuations in stock price.”
He’s pushing for his employees to keep the share price of their minds, and make the best of the company, as this is just a tribulation to overcome in time.
Mobile Commerce is Growing Much Faster than Standard Ecommerce
As the years go by, more and more people are getting their hands on smartphones and learning how to fully use it at all ages. As this happens, it’s been reported that mobile commerce will be growing 300% faster than standard Ecommerce.
So if your business does not have a mobile store, this is the perfect time to get your developers working on that!
Amazon Laid Off Dozens of Their SmartPhone Engineers
After the tremendous flop of the Amazon Fire Phone, Amazon had decided to let go dozens of its engineers at their Lab126 hardware-development center in Silicon Valley.
The layoffs were the first in Lab126’s history as they’ve been developing amazing products such as their tablets, e-readers and new Echo.
However, as Amazon is very cautious of their capital spending, it seems like Amazon is looking to restructure their hardware development team, which hopefully means they’ll pull away from the smartphone market, and focus on unique designs like their recent Echo.
Facebook is Social Media’s Top Source of eCommerce
According to Business Insider, Facebook accounts for 50% of total social referrals and 64% of social revenue.
With tools such as the embedded buy button, they’ve noticed large conversion rates as social drives retail traffic than any other channel.
And not only that, but on Monday, August 24th, Facebook reported 1 billion simultaneous users were logged in at once. That is a lot of potential customers for your business!
We’ve reached the weekend. Here are some fun articles!
Fun Things: Amazon is launching a one hour beer delivery in Seattle to fulfill your binging needs. Uh oh for me; Buzz Aldrin wants us to colonize on Mars , so naturally, I volunteer as tribute; and J-Law and Amy Schumer are penning a comedic screenplay? Yes please!
What We’re Watching: After the terrible reviews, not ‘No Escape’ we’re a little reluctant on giving it a watch, but hey, opinions differ, right? Hopefully? If you’re not watching Hannibal, after this finale clip, you’re going to want to.
Recent Reads: Jet.com is receiving the consensus that it’s an Ecommerce game-changer, Apple is developing military-grade iWatches, and vaping is not as healthy as people are led to believe?
P.S.: Skubana believes in growing and evolving based on the feedback of our customers. We believe in the mantra that “We didn’t come this far, only to come this far.” We enjoy communicating with our customers and we will keep working on being the best ERP system in the market.
Check out this review of Skubana.
Work Smart. Sell More and thanks for checking out this weeks’ e-commerce review.