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Flipkart launches Supply Chain Operations Academy.
On October 25th, Flipkart announced the launch of a Supply Chain Operations Academy. It aims to provide training to cultivate talents in all aspects of supply chain management and provide good logistics technology for the fast-growing e-commerce market. Flipkart designed the professional training program under SCOA.
The training program lasts for 61 days, including 16 days of online teaching and 45 days of hands-on learning in Flipkart's supply chain facilities. Flipkart's learning management system is an online learning plan platform where trainees can learn various skills through courses developed by industry experts.
Walmart Mexico launches a WFS delivery service.
On October 25th, Walmart launched its WFS distribution service in Mexico, allowing third-party sellers on its platform to store their inventory in its distribution center. WFS selects packs and ships products on behalf of the seller. WFS will also handle all customer service and order returns.
The WFS service operates at its distribution center in Mexico City, and 25% of third-party sellers' orders have been delivered. Data show that in the third quarter of this year, Walmart in Mexico and Central America's sales reached 174.577 billion pesos, an increase of 6.4% compared to the same period last year.
Nigeria launches Africa's first digital currency, eNaire.
On October 25th, Nigeria officially launched its first digital currency, eNaira. The Central Bank of Nigeria stated that eNaira, its digital currency, has been developed over several years. It will "make financial transactions for all people easier."
It is said that eNaira will work as a wallet, allowing customers to put funds in their accounts. eNaira also has the effect of fiat currency and non-interest-bearing assets and sets upper limits on customer-based and value-based transactions.
Bank account management system: It can monitor and manage the user's eNaira wallet in real-time. The eNaira website has received more than 1 million clicks within 24 hours of its launch.
Amazon Europe will delete product listings that do not provide compliance documents.
On October 25th, Amazon Europe issued an announcement requiring all suppliers and sellers of food supplements identified as high-risk to provide safety and compliance documents.
The announcement shows that starting from November 2021, if Amazon does not receive the compliance documents, it will delete the product listings. Merchants that do not require compliance documents must also follow Amazon's food and food supplement policies. Sellers can view their compliance status in the Supplier Center and Seller Center and upload all identified product listing documents.
Network International and Tabby have reached a partnership to launch a buy-now-pay-later service.
On October 25th, the UAE payment company Network International and Tabby have reached a partnership, allowing sellers to provide customers with four interest-free BNPL payment options.
Tabby is the first and largest buy-now-pay-later company in the Middle East. It has reached cooperation with more than 2,000 global brands and small companies, including Adidas, IKEA, SHEIN, Marks & Spencer.
It aims to provide them with efficient payment solutions. Tabby guarantees that they can purchase items safely without interest and any debt traps, providing a better checkout experience for online shoppers.
PayPal response: it does not intend to acquire Pinterest.
In response to market rumors about PayPal's possible acquisition of Pinterest, PayPal stated that it currently does not plan to acquire Pinterest. After the news, PayPal's share price in the German trading platform Tradegate rose by 5%.
According to Bloomberg News, PayPal acquired Pinterest at a price of approximately $70 per share. If the deal is concluded at this quotation, the total value of Pinterest will be $45 billion. Before this, Pinterest announced its second-quarter earnings report as of June 30th, 2021.
The financial report shows that Pinterest's second-quarter revenue increased by 125% year-on-year to reach 613 million US dollars; global monthly active users increased by 9% to 454 million.
Facebook updates its anti-counterfeiting tool "Brand Rights Protection."
On October 25th, Facebook renamed its counterfeit tool "Commerce & Ads IP Tool" to "Brand Rights Protection." The new update provides brands with new features to protect intellectual property rights. After the update, brands can upload and save up to 10 pictures to their Facebook store accounts. Then Facebook will use image-matching technology to automatically scan ads on Facebook and Instagram to help sellers review and find potential infringements content.
In addition, the new tool also allows brands to search and query Instagram posts that may infringe their rights to help brands combat more counterfeit products.
Etsy launches a new feature, "Alt Text."
On October 25th, Etsy launched a new feature, Alt Text, allowing sellers to provide image descriptions for blind and low-vision shoppers. Sellers can add related description information to each image.
Sellers only need to select Shop Manager on the Etsy website to go to the listing, select the list to be edited, hover the mouse over the image to be edited, and click the icon with a "pencil" to add alternative text to the image. Etsy recommends that the text be brief when describing product images, with less than 250 characters.
eCommerce news Southeast Asia
Vietnamese technology company FPT Software has partnered with IGPI Singapore to support the digital transformation in Southeast Asia.
According to a report from Yahoo Finance, IGPI Singapore is a subsidiary of Japanese consulting company IGPI. This cooperation aims to facilitate the collaboration between the two to develop the DX platform to help accelerate the digital transformation of Southeast Asian enterprises, governments, institutions, and related organizations.
FPT Software is a global technology and IT service provider, providing services to enterprise users in artificial intelligence, the Internet of Things, cloud technology, and other fields.
eCommerce news India
Indian online wealth management platform Groww received US$251 million in financing.
According to Mint reports, the capital injection is part of the E round of funding led by Iconiq Growth. The current financing round is nearly 535 million US dollars.
The company's valuation after funding is about 3 billion US dollars. Existing investors Sequoia Capital, Ribbit Capital, Tiger Global, and new investors Alkeon Capital Management, Lone Pine Capital, etc., have participated in this financing round. This round of funding will help it on the market expansion.
eCommerce news Europe and America
Billie, the German BNPL platform, received US$100 million in Series C financing.
According to TechCrunch, this funding round was led by Dawn Capital, with participation from Tencent, Klarna, and existing investors Creandum and Speedinvest. The new funds will be used to expand the product range and expand the European market. In addition, according to the platform's CEO, the platform has reached an important strategic partnership with Klarna, and the two companies will integrate their businesses to improve operational efficiency.
eCommerce news Australia and New Zealand
The last mile contest: Australia Post launches a special facility for parcel distribution worth 30 million Australian dollars.
According to Sohu News, Australia Post (AusPost) recently opened its first large-scale parcel distribution facility at Adelaide Airport in South Australia. It is Australia Post's largest operational investment in South Australia so far. The total investment is 450 million Australian dollars (approximately 337 million US dollars).
The facility covers an area of more than 15,000 square meters. It can process 8,000 packages per hour, for a total of approximately 170,000 parcels per day.