Hey ECF readers,
This week in the podcast version I share some important thoughts I hope you'll listen to first here followed by this week's eCommerce and tech headlines below.
In the News
- A total of $660 billion was allocated to the PPP program
- Demand for PPP loans has significantly declined over the last few weeks since the start of the pandemic
‘Digital by default': Shopify is letting employees work from home permanently (Hat Tip to Forum Member Katrina McKinnon)
- This shift will impact more than 5,000 employees
- Shopify will keep physical offices closed until 2021
Social media giants take different approaches to presidential messages
- Twitter added fact checking labels to President Trump's tweets, causing him to issue an executive order against the company
- Facebook allowed another controversial Presidential tweet to remain as-is citing being a company “…committed to free expression.”
- Amazon’s “invitation only” sale is said to be in response to the pandemic and the subsequent delay of Prime Day
- Sellers were asked to submit deals for items with at least a 30% discount
- Slack will use Amazon AWS more broadly and replace its lackluster video conferencing tech by integrating Amazon Chime
- Amazon agrees to roll out Slack to all employees
- Bharti Airtel is the third-largest telecom operator in India
- Comes on the heels of Facebook and Google's interest in the Indian telecom space with previous talks and/or investments
- Includes longer payment terms, a more unified shipping/fulfillment platform and and additional trade shows
- U.S. buyers have increased by 70-100% year over year
- Stitch Fix closed two distribution centers in march due to COVID-19.
- The company says it plans on hiring 2,000 employees in lower-cost cities like Dallas, Austin, or Minneapolis.
- All California-based employees will be given the chance to relocate and keep their job
- Take a picture of something and see similar items that are in-stock and available for purchase on Pinterest
- Pinterest reported seeing 3x the number of visual searches compared to 2019
- Follows Pinterest’s announcement of its partnership with Shopify
Top Forum Discussions
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- Annual Expert Update: Shopify 2020
- I Just Received the Best Gift Ever from My Remote Team
- Salsa Dancing My Way to Mental Salvation
- I’m Putting up $50,000 for Frontline Workers
- 20 Min Yoga 3x per Week Is Changing My Life
- A Love Letter to Quarantine
- Introducing Our New Community Guides!
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