#DCR Newsletter #61
Key news, events, and statistics for Aug 18 - Aug 24 related to the world of digital commerce.
This newsletter summarizes key news, events, and statistics for Aug 18 - Aug 24 related to the world of digital commerce.
Funding. Myplanet raised CAD 14M funding to become a leader in composable commerce. Toronto-based software studio and consulting firm focuses on helping clients transition from legacy commerce platforms to the expanding world of API-driven commerce. The round marks Tercera’s first Canadian investment and Myplanet’s first venture funding, as the startup has been bootstrapped and debt-funded to date.
It is refreshing to see agencies raising money in e-commerce space, especially in the context of composable commerce.
D2C. Peloton strikes a deal to sell fitness equipment and apparel on Amazon. In its first foray outside of its core direct-to-consumer business, Peloton starting Wednesday will be hawking a selection of its connected-fitness equipment and accessories on Amazon’s website in the U.S. That will include its original Bike, which retails for $1,445. It will also be selling its strength product known as Peloton Guide, which costs $295. Excluded from the tie-up are its more expensive Bike+ and Tread treadmill machine.
Q1 2022 revenue is at the level of Q1 2021, with the connected fitness subscriptions growth slowing down and the number of workouts declining. Thus peloton looks to kickstart growth by expanding its sales channels - a step that many other d2c brands might be forced to take as well.
Walmart. Walmart unveils rewards program for Walmart+ members. Shoppers can earn and redeem rewards both in-store and online. To redeem rewards in-store, shoppers have to scan a QR code generated through the Walmart Pay app at checkout and tap “Use Walmart Rewards,” while online shoppers can add the benefits at checkout when they pay.
Walmart+ members can track their rewards accumulation through the Rewards Center on the retailer’s site and app. Saved item rewards have expiration dates, meaning customers must buy the item before the reward expires.
Collectibles. EBay to acquire collectible tech platform TCGplayer. TCGplayer, which calls itself the largest online marketplace for trading card games, builds applications and tech that connects hobby gaming businesses with customers. The deal will provide eBay with capabilities like order fulfillment and cart optimization in order to boost the customer experience.
Despite what you might think, sports trading cards is a huge market growing at a healthy rate, and digital collectibles such as NFTs will likely to accelerate the growth in the long term.
B2B. Nigerian B2B e-commerce platform Omnibiz raises millions to gain and retain retail customers. Omnibiz operates an asset-light retail distribution model. A Lagos-based B2B e-commerce and retail platform that connects fast-moving consumer goods (FMCGs) manufacturers to retailers by digitizing the supply chain stakeholders.
When a retailer makes orders on the Omnibiz platform, the goods are requested from partner distributors (traditionally known to help with warehousing and transportation) who store goods on behalf of manufacturers. With Omnibiz, these distributors can focus solely on warehousing and pass on the responsibility of transporting goods to third-party logistics providers, who distribute orders to the retailers within 24 hours.
NFTs. Afterpay releases designer NFTs with exclusive merchandise, and experiences for New York Fashion Week. The NFTs were developed in collaboration with five designers — Altu by Joseph Altuzarra, AnOnlyChild, Jonathan Simkhai, Kim Shui and The Blonds — inspired by each of their Spring/Summer ’23 collections. Each NFT comes with real-life goods such as a special edition leather tote, invites to after parties, original runway sketches, and more.
It is a bit surprising to see a BNPL provider venturing into NFT space - they already take a lot of heat due to the facilitation of bad spending habits, and microloans for digital collectibles only make the matter worse.
Stats of the week:
90% of retailers across the US now take Apple Pay—a feat that took an incredible amount of patience on Apple’s part.
After posting year-over-year declines in March and April, online grocery sales have increased in the past three months. The number of monthly active users has more than doubled since August 2019.
US ecommerce grows 7.3% in Q2 2022.
Chart of the week:
Statista Racing Bar Animations: The World's Manufacturing Superpowers