This week in eCommerce, Oregon Senator Ron Wyden is doing his part to ensure small businesses who have flourished online are able to fairly compete against large enterprises. Forrester’s analysts are reporting that top brands are wasting their time spending money to advertise and “build relationships” on social media sites like Facebook and Twitter, citing low engagement. eCommerce digital currency marketplace The Bitcoin Shop is donating 50% of its gross profit during next weekend’s Black Friday an Cyber Monday sales to Africare to fight the spread of Ebola in West Africa. Luxury online retailer of curated goods, Kaufmann Mercantile, announced this week a funding close of $3 million. For all the details from this week’s newsmakers read on below.
With more and more small businesses selling online, and seeing a fighting chance to stay afloat when competing against larger enterprises, the U.S. congress needs to do their part in order to protect these independent retailers. For stores like Daddies Board Shop in Portland, Senator Ron Wyden is trying to do just that in the fight against the Marketplace “Fairness” Act, which would unfairly force Oregon companies to collect sales taxes in other States. These small online retailers need all the help they can get, and to run a successful operation they would need to expand to sell to other States. Daddies Board Shop owner, Daron Horwitz is thankful for the level-playing field eCommerce provides his business. Senator Wyden says, ““My goal is to keep the Internet free and open — as it always has been…”, and will continue to do his part to keep these types of injustices that would crush the success that small businesses are seeing online.
Want to Interact with your customers? Avoid Social Media
So “Social” is the way to go to make your business successful online, right? Think again. According to Forrester companies are wasting their money spending money advertising through social media sites like Facebook and Twitter, with the goal of starting “conversations” with consumers. Analysts say that only 2% of a top brand’s posts to Facebook and Twitter reach their fans and followers. Even worse, in a recent announcement by Facebook, it’s been revealed that due to new algorithm implementations fans may be even less likely to see promoted posts. It’s suggested that if a brand wishes to interact online with their consumers, they should do so online via their own website or on niche social networks. It’s predicated that Facebook will in the near future become a just a repository for display ads.
The Bitcoin Shop Inc, a digital currency marketplace, is doing some good for the world. This week they announced an initiative to donate 50% of their gross profits to Africare, a non-profit organization, from November 28 to December 3, 2014. Donations to Africare, based in Washington DC, will be used to fight the spread of Ebola in West African communities. The Bitcoin shop will also at this time be participating in Bitcoin Black Friday, and will be offering various deals through their eCommerce site and encourage consumers to visit their store and support this cause. With 2 million products online, The Bitcoin Shop offers an “Intelligent Shopping Engine” to help consumers find competitive prices on products from different retailers.
Luxury eCommerce Retailer, Kaufmann Mercantile announced today the close of a $3 million round of funding. The online retailer who focuses on curating high-end luxury products, similar to the model of fab.com, sell almost everything from beauty products to workman’s tools. Kaufmann sells almost everything online, but one area they’ve decided to leave alone is crowded-clothing space online. Aside from the accessories they do sell, you won’t find much in terms of clothing on this luxury retailers web-store..instead can they interest you in a $500 hatchet? How about a $200 shaving kit.