It's been nearly a month since the last News Cart so we've got lots to talk about in this week's edition!
I'm guessing you've read the major stories about the Coronavirus in the media. For a less-filtered look check out this revealing discussion where ECF members share the impact the virus is having on their factories in China (membership required).
Hope you enjoy!
In the News
- Factories and transport routes are disrupted as workers face quarantines in parts of China
- Alibaba warned of a drop in e-comm erce revenues, and Amazon merchants are spending less on ads
- eCommerceFuel members reporting their own factories in various states of production, but few fully operational
- On March 3, a U.S. House subcommittee will hold a hearing called “South Dakota v. Wayfair, Inc.: Online Sales Tax and Their Impact on Main Street”
- Hat tip to ECF member Hilary Scott of Halstead Bead Inc. who, along with her husband, Brad, have been strong advocates for businesses affected by the ruling
- Casper's IPO deemed “lackluster” after the company reined in its valuation to less than $500 million
- Birchbox to lay off 25 percent of its global staff
- Brandless shuts down operations, becoming SoftBank Vision Fund's first failure (hat tip to ECF member Bill D'Alessandro)
- Harry's merger with Edgewell Personal Care fell apart after the FTC sued to block it
- Shopping cart leader is now allowing app makers to pay for increased exposure
- Company jumps to the 8th largest e-commerce player in the U.S., up from 11th
- Its e-commerce business is expected to expand 24% to $8.3 billion this year
- Amazon Go Grocery opened Feb. 25 in Seattle
- Store is 10,400 square feet and stocks roughly 5,000 items
- On a 46-to-37 vote, Kickstarter became the first major tech company to unionize
- Leadership initially opposed the move, but said it will “support and respect this decision”
- Store closures increased 59% last year, with 9,302 retail stores shuttered as of Nov. 1
- Largest contributor was Payless ShoeSource, which declared bankruptcy and closed its 2,100 stores
- Online retail sales in the U.S. expected to rise from 16% to 25% by 2026
How Will You Measure Your Life? (Hat tip to Farnam Street) — Harvard Business School professor Clay Christensen shares his strategies for finding meaning in life and focusing on what's truly important.
Things My Friends Are Up To
Sellers Summit 2020 — Don't miss my good friend Steve Chou's conference which he describes as “an intense two-day e-commerce workshop”. Always lots of great speakers and a good time to connect with other merchants. May 6-8 in Ft. Lauderdale, FL.
Top Forum Discussions
(Membership required to access. Not a member? Apply to join our vibrant community of 7-figure store owners today.)
- Coronavirus – How's It Impacting Your Chinese Factories?
- How to Hire Team Members You LOVE | The Beardbrand Method
- The Anatomy of a Great Job Scorecard
- Congressional Hearing on Wayfair and State Sales Tax Laws
- Introducing eCommerceFuel Capital
- Why a Mostly Remote Workforce Works Beautifully
Looking for Capital and/or Mentorship?
If you're interested in long-term funding from a team who also has the skills, eCommerce rolodex and battle-tested knowledge to help you grow you need to check out eCommerceFuel Capital.
(Compelling opportunities from the eCommerceFuel Job Board. Find your dream job or post your own job opening right here.)
- Digital Marketing Manager | Ronin Factory | San Diego, CA
- Digital Marketing Associate | Who’s There Group | Los Angeles, CA
- Growth Marketing Specialist | LittleOnes | Auckland, New Zealand or Remote – One perk of joining this remote-first team is a paid-for company retreat in Singapore