Amazon experienced its “best ever” holiday shopping season, with its voice-controlled Echo and Echo Dot smart speakers leading sales, followed by the Fire TV Stick and $50 Amazon Fire tablet. Sales of the Alexa-enabled devices were nine times higher than sales during the previous year’s holiday season and the company had trouble keeping them in stock. Amazon Prime members reportedly purchased more than one billion items over the holiday season. The online retailer said its customers purchased enough 4K TVs to scale Mount Everest more than nine times. Among the top sellers included Samsung’s 32-inch smart LED TV and Avera’s 32-inch LED TV. Continue reading Holiday Shoppers Buy Record Number of Products on Amazon

Celebrating its 50th anniversary, CES opens in Las Vegas this week with 3,800 companies showcasing their latest products across almost 2.5 million square feet of exhibit space. Broad but logical thematic lines distribute the exhibits across three venues: Tech East at the Las Vegas Convention Center (LVCC), Tech West at the Sands and Venetian Complex, and Tech South at the Aria. Fifty years after 117 exhibitors dazzled 17,000 visitors with transistor radios and small-screen televisions, CES presents itself as the place “where tomorrow is on display.”  Continue reading How to Navigate 2.5 Million Square Feet of CES Exhibit Space

As projected, this week’s Cyber Monday shopping event set a new single-day online sales record, according to Adobe. Following Black Friday’s record of $3.34 billion in online sales, as well as a new record of $1.2 billion in purchases made via mobile devices, Cyber Monday reached a staggering $3.45 billion in sales in the U.S., up 12.1 percent compared to the same day in 2015. Thanksgiving weekend is generally considered the start of the holiday shopping season and an indicator of economic health and consumer confidence. From November 24-28, consumers spent $12.81 billion, a 16.4 percent jump over last year. Continue reading It’s Official: Cyber Monday Bigger Than Black Friday This Year

According to separate research from Adobe and the National Retail Federation, Black Friday set new records for e-commerce with online sales surpassing $3 billion for the first time, while also marking the first day in U.S. retail history to experience more than $1 billion in sales made from mobile devices. Adobe reports $3.34 billion in total online sales, a 21.6 percent jump over last year, with mobile accounting for $1.2 billion, a 33 percent increase. And shoppers were thrifty this time around. While the NRF found that the number of shoppers increased over the weekend compared to 2015, average consumer spending dropped 3.5 percent, including online and offline purchases. Continue reading Black Friday Sets New Records, More Consumers Go Mobile

Snapchat parent company Snap Inc. has confidentially filed for its IPO, according to sources familiar with the matter. The four-year old messaging app could go public as early as March 2017, in what is expected to be one of the highest-profile stock debuts in years, and one that could potentially convince other tech startups to test public markets. The Venice, California-based company is looking to raise as much as $4 billion, with a valuation in the $25 billion range, which could make it the largest U.S.-listed tech offering since Chinese e-commerce giant Alibaba went public in 2014. Continue reading High Profile Snap IPO Could Push Other Startups to Go Public

Google formally rebutted two antitrust charges made by the European Commission (the European Union’s executive body). The Commission claims that Google has used its search engine to boost Google Shopping, its price comparison service, and AdSense, its ad placement service. A third European Union antitrust suit claims that Google’s mobile OS is a ‘Trojan horse’ to promote its own products and services, injuring potential rivals. The EU says it “cannot at this stage prejudge the final outcome of the investigation.” Continue reading Google Offers Formal Response to Two EU Antitrust Charges

Google just released Home, a smart speaker that competes directly with the recently introduced Amazon Echo, powered by the virtual assistant Alexa. Since its release, Amazon’s Echo has been a hit, as users have relied on it for everything from a home automation tool to kitchen companion and shopping assistant. Now, the two products, from two technology behemoths, will face off in the marketplace. These devices are still early in their development, and the virtual assistants powering them offer limited abilities. Continue reading Comparing Newly Released Google Home with Amazon Echo

In May, Instagram designers, engineers and product managers brainstormed ideas on how to make shopping work in the app. Now, six months later, they’re introducing the winning idea: Brands can tag products in their photos, much the way users tag friends. A single tap will reveal more information about the product, and another tap will send you to the retailer’s site to buy the product. After the launch, Instagram will gather data from how consumers use the new feature to improve it. Continue reading Instagram Introduces a Test Version of E-Commerce Feature

China’s Ant Financial Services Group, an affiliate of Alibaba Group Holdings, is building a global network of merchants that accept its payment services via the Alipay mobile payments app. Ant Financial just announced a partnership with the online-payments arm of Thai conglomerate Charoen Pokphand Group, meaning that Chinese tourists can use their familiar payment app there. Alibaba has also launched its new Digital Media and Entertainment Group as the company continues its push into movies, online video, music, gaming and more. Continue reading Alibaba Expands Alipay, Creates Media Entertainment Group

Despite shifts in music consumption involving streaming services, Internet radio, digital downloads and more, many consumers are still purchasing CDs. However, the revenue does not always reach the artists and labels responsible for the music, since piracy is running rampant in the form of counterfeit CDs offered through online retailers such as Amazon. Counterfeits are becoming increasingly difficult to distinguish from the official versions. While CD sales represented a mere 13 percent of revenue for U.S. labels the first half of this year, they accounted for almost 40 percent of global revenue for the recording industry last year. Continue reading Music Industry Contends with Major Uptick in Counterfeit CDs

Amazon accounts for 15 percent of U.S. consumer online shares, according to the Department of Commerce. But Amazon’s actual reach in the retail market may be as much as double that due to an undetermined volume of sales transacted with third parties. Just as Walmart destroyed many smaller retailers, so may Amazon’s massive reach have an even greater disruptive impact. The comparison is apt because Amazon is now building pickup locations for groceries in Seattle that could open by the end of 2016. Continue reading Amazon’s Reach in Online Retail Much Bigger Than Estimated

Japan’s SoftBank Group, led by chief exec Masayoshi Son, is partnering with a Saudi sovereign-wealth fund to establish a multibillion-dollar tech investment fund. SoftBank is an ambitious tech investor, as evidenced by its recent deals with China’s Alibaba Group, mobile carrier Sprint and chip designer ARM Holdings. Today, the company “plans to invest at least $25 billion over the next five years through a fund dubbed the SoftBank Vision Fund,” reports The Wall Street Journal. “Saudi Arabia’s Public Investment Fund may contribute an additional $45 billion over the next five years as the fund’s lead partner.” SoftBank is in talks with additional global investors, who could “push the new fund up to $100 billion to become the world’s ‘biggest investor’ in technology over the next decade.” Continue reading SoftBank Signals Major Ambitions with $100 Billion Tech Fund

Walmart told its investors that it was opening fewer brick-and-mortar stores in favor of investing in online operations, a strategy that was initiated when Walmart chief executive Doug McMillon paid about $3.3 billion for e-commerce startup Jet.com. That company’s founder, Marc Lore, will lead the initiative. The company predicts online sales will grow 20 percent to 30 percent in the next three years. Still, it’s a risky gambit since Amazon is increasing its dominance in the U.S. consumer space. Continue reading Walmart to Ramp Up Online Operation, Google Opens Pop-Up

Steven Spielberg’s Amblin Entertainment just inked a deal with Chinese e-commerce company Alibaba Group to produce, finance and distribute movies. The relationship gives Alibaba an entrée into the Hollywood moviemaking industry, and Amblin a pipeline to distribution in China. Although the financial details of the deal were not disclosed, Alibaba will now have a minority equity stake in Amblin and a seat on its board, and Amblin will have access to the Chinese company’s massive database on consumers there. Continue reading Amblin and Alibaba Ink Mutually Beneficial Moviemaking Deal

Snap Inc., the newly named parent company of messaging service Snapchat, is readying an initial public offering that could value the company at more than $25 billion. Snap is reportedly prepping “for an IPO with a view toward selling the shares as early as late March,” explains The Wall Street Journal. “There is no guarantee the four-year-old Venice, California, company will proceed with a share sale in that time frame, and there is no guarantee it will achieve a valuation of $25 billion or more.” However, if the company does reach that value, “it would be the biggest company to go public on a U.S. exchange since 2014″ when China’s Alibaba Group Holding made its debut. Continue reading Snapchat Parent Preparing IPO, Valuation Could Exceed $25B