Ant Financial Services Group, China’s largest online-payments company, has announced an $880 million deal to acquire Dallas-based money-transfer provider MoneyGram International. Ant Financial split off from Alibaba Group Holding Ltd. in 2011 and is controlled by Alibaba founder Jack Ma. “With the deal, Ant Financial would gain a large footprint and a brand name in the U.S. and expand its global money-transfer business, ultimately bringing it into closer competition with PayPal” and others, reports The Wall Street Journal. However, the deal could be scrutinized by the new presidential administration as global competition is being called into question, despite Donald Trump’s recent discussions with Ma to help create jobs. Continue reading Chinese Company Looks to Buy U.S. Money-Transfer Provider

While most consumers may currently think of gaming or video when they hear “augmented reality,” retailers are experimenting with a new batch of AR apps that leverage mixed reality tech. For example, Amazon’s Product Preview lets shoppers visualize different TV sizes and brands in their homes, Lowe’s Vision accepts measurements to map out placement of kitchen appliances, and WayfairView helps consumers place new sofas and cabinets with their existing furniture. Gap plans to launch DressingRoom on Google Play at the end of the month, providing users with the ability to dress virtual mannequins with different clothing options. Continue reading Retailers Push AR Shopping Apps for Tango-Equipped Phones

Walmart is expected to cut about 1,000 jobs by the end of January, before the close of its fiscal year. “The plans mark one of Walmart’s largest rounds of corporate job cuts as it works to preserve profits while making the company more efficient and responsive to fast-changing consumer behaviors,” reports The Wall Street Journal. According to CEO Doug McMillon, the company’s chief information officer, Karenann Terrell, will step down in February. Other retailers have been making similar moves; Macy’s recently announced it would close stores and cut 10,000 jobs. Walmart is working to fend off Amazon and smaller discounters. The retail giant purchased Jet.com in September, and its founder, Marc Lore, took over the e-commerce business. Continue reading Walmart Plans Job Cuts and Continues its E-Commerce Push

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

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

Pinterest is acquiring Instapaper, the app that allows consumers to save content for later viewing. The deal provides San Francisco-based Pinterest with access to vital behavioral data and technology that could help it better target content and ramp up its capabilities to compete with Facebook as a next-generation, insular media portal. Instapaper is expected to remain a standalone app, and Pinterest will invest in its further development. The majority of Instapaper’s team, including CEO Brian Donohue and community manager Rodion Gusev, will relocate from New York to California. Continue reading Pinterest Buys Instapaper, Next Step in Becoming Media Portal

Alibaba is expanding beyond e-commerce into social media and entertainment with its mobile app Taobao. Founded in 2003 as a site for small businesses to sell directly to consumers, Taobao has since blossomed with social and entertainment, a “one-stop shop” paradigm that’s getting Chinese youth to spend more time on the site than visitors to Amazon and Twitter, and mobile revenue more than doubling in the most recent quarter. What helps to make the site so successful are its more than 1,000 special interest groups. Continue reading Alibaba’s Shopping App Mixes E-Commerce and Social Media

In its biggest bid yet to compete more directly with Amazon, Arkansas-based Walmart is acquiring e-commerce startup Jet.com for $3.3 billion ($3 billion in cash and $300 million in shares to be paid over time). Walmart has been busy expanding its online operation, and the Jet.com deal provides it with a shopping site that is adding 400,000 consumers monthly and has already reached a $1 billion gross merchandise run rate. Store-based businesses such as Costco, Target and Walmart have been looking for effective ways to contend with Amazon’s successful online model. Continue reading Walmart to Purchase Jet.com in Bid to Compete with Amazon

Six months ago, Google introduced its Accelerated Mobile Pages (AMP) Project, an open-source initiative that enabled publishers to create mobile-optimized content that loads instantly on every device. AMP was initially rolled out for news publishers; now, Google plans to make it available for other mobile sites. The company just debuted a demo site that will let developers test out and fine-tune the AMP-enabled experience. Currently, over 650,000 sites are home to over 150 million AMP documents in Google’s index. Continue reading Google Prepares to Rollout AMP Project for More Mobile Sites

Amazon announced its fifth consecutive quarterly profit yesterday, and its third consecutive record-setting profit. Revenue increased 31 percent; sales rose to $30.4 billion from $23.19 billion. The company’s cloud computing division, Amazon Web Services, accounted for an impressive 56 percent of Amazon’s operating income, and it grew 58 percent in the last quarter. “The results show Amazon moving toward investors’ long-held hope of consistent profitability after a lengthy period of heavy investments and quarterly losses,” notes The Wall Street Journal. “Overall, Amazon posted a second-quarter $857 million profit, or $1.78 a share, compared with $92 million, or 19 cents a share, a year earlier.” Continue reading Amazon Posts Record Profit and Significant Growth for AWS

According to Amazon, product orders made during its second annual Prime Day surpassed last year’s sales by more than 60 percent worldwide (50 percent in the U.S.), while third-party vendors experiencing a 30 percent surge. Amazon says it tripled sales of its own devices in the U.S.; the Fire TV stick was the most popular Amazon device sold during Tuesday’s event. Prime Day debuted last year to commemorate the company’s 20th anniversary and encourage consumers to sign up for its Prime membership service, which offers perks such as two-day shipping and access to Prime Video and Prime Music. Continue reading Prime Day Experiences Sales Surge, Big Day for Fire TV Stick

According to e-commerce giant Amazon, yesterday’s Prime Day sales from third-party merchants were up 30 percent over last year’s event, driven by international demand. The statement was made at 3:00 pm Eastern Time during the company’s day-long promotion designed to attract more subscribers for its $99-per-year Amazon Prime membership. Once the total numbers are in, Amazon anticipates “a record day for small businesses and sellers.” Last year’s event was criticized after deals ran out too early. “The company this year offered more deals and deeper inventory,” reports Bloomberg. “It relied on thousands of third-party merchants who sell goods on Amazon and give the company a cut of each sale to boost the number of deals.” Continue reading Amazon’s Prime Day Sales Surge 30 Percent Over Last Year

Walmart is expanding its mobile payment service, Walmart Pay, to its entire chain of 4,600 U.S. stores. The feature can be found on the retailer’s app, which is available for Android and Apple devices. According to the company, more than 20 million consumers regularly use the app, which offers discounts and helps locate products. Walmart, which has 140 million weekly shoppers, is aiming to make the shopping and checkout experience more convenient. It is also looking to compete with companies such as Apple, Alphabet and Samsung, all of which offer ways to make mobile purchases. Continue reading Walmart Makes Mobile Payment App Available to Entire Chain

San Francisco-based Pinterest plans to unveil an image-discovery app aimed at jumpstarting a new kind of consumer shopping. The user points his smartphone camera at anything, taps dots over the object for recommendations of similar items, and the app searches 75 billion images for a visual match. Currently, Pinterest, valued at $11 billion, makes its revenue from advertising. With the image-discovery app, Pinterest could transform the company by encouraging consumers to embrace mobile shopping. Continue reading Pinterest Develops Image-Discovery App for Mobile Shopping

Brooklyn-based startup MikMak is launching a shopping network that combines comedic 30-second “minimercials” and the ability to click and buy products. Founder/chief executive Rachel Tipograph notes that, while infomercials may have a bad reputation, the idea simply needs to be remade for the modern era. The network’s diverse cast of quirky hosts are improv comedians who promote oddball products, including an inflatable strawberry-doughnut pool raft and a waterproof Bluetooth shower speaker. Continue reading MikMak Combines Comedy and Sales with E-Shopping Videos