ecommerce

The maker of the popular Fortnite video game will pay $520 million in penalties and refunds to settle complaints revolving around children's privacy and its payment methods that tricked players into making unintended purchases, U.S. federal regulators said. The Federal Trade Commission reached the settlements to resolve two cases against Epic Games Inc., which has parlayed Fortnite's success in the past five years to become a video game powerhouse. The $520 million covered in the settlement consists of $245 million in…

India’s e-commerce industry recorded a 36.8% year-on-year growth in 2022 although more shoppers returned to the physical stores as Covid-19 fears receded, according to ecommerce enabler Unicommerce. Unicommerce’s data is based on analysis of more than 500 million transactions. It does not include the data related to sales of mobile phones and smartphones. Tier-3 markets like Udaipur, Roorkee and Rohtak grew by 64.7% in 2022 year-on-year, while tier-2 markets like Bhopal, Amritsar and Bhubaneshwar clocked an impressive…

Sequence Diagrams for an E-commerce Firm can be broken into 5 main functionalities:Sign Up FunctionalityLogin FunctionalityAdd to Cart FunctionalityProduct Order FunctionalityCustomer Care FunctionalityLet us see about these functionalities UML or Sequence diagrams one by one:1. Sign-up Functionality UML (Sequence Diagram) in E-Commerce Firm:Sign-up Functionality UML (Sequence Diagram) in E-Commerce FirmHere there are 3 instances of objects:CustomerWeb Portal of CompanyDatabase Server of the companyThe diagram has the…

Improve Customer Retention for eCommerce Repeat customers are crucial for the success of any eCommerce business. While online stores usually focus more on acquiring new customers, the company's profit margin is at least as dependent on customer retention to achieve sustainable growth. In fact, studies have shown that increasing customer retention by only 5% can increase profits by as much as 25%. This is why retention for eCommerce businesses is essential. By increasing the number of return customers, you are in a far…

Trendio, a new video shopping app co-founded by a former Amazon Prime Video executive, is aiming to enhance the beauty shopping experience. The shopping app enables customers to engage with personalized content and seamlessly purchase beauty products through live and recorded videos. The app is the brainchild of Alex Perez-Tenessa, the former vice president of Prime Video U.S. and Head of Beauty at CVS, and startup veteran David Olmos. The pair enlisted Amazon Live alum, Julie Novak and former…

Individuals or businesses buying furniture in Africa can purchase from local furniture stores or global furniture retailers like IKEA. But both options have pros and cons; for the latter, local furniture stores may lack the quality that clients need, while global retailers, in addition to taking several months to ship their products to Africa, can be too pricey.  Taeillo, a Lagos-based startup innovating around these issues relating to time, quality and cost via its online furniture e-commerce store, has raised $2.5…

Russia's leading ecommerce platform Ozon is expanding to India after opening offices in China and Turkey earlier this year and hoping that entrepreneurs here can take advantage of the platform to start selling their products in Russia, its chief executive told ET. According to local researcher Data Insight, the Russian ecommerce market may exceed $100 billion in 2024, more than twice its current value. Ozon is the leading multi-category ecommerce marketplace in Russia. "Ecommerce is booming worldwide, and Russia is…

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The RBI on Wednesday said it has decided to add a feature in the UPI platform to aid payments where delivery of goods and services happens later, like e-commerce purchases, hotel bookings or investments in securities.Through the 'single-block-and-multiple debits' feature on the Unified Payment Interface (UPI) platform, customers will have more trust while carrying out such transactions.“It has…been decided to introduce a single-block-and-multiple-debits functionality in UPI, which will significantly enhance the ease of…

E-commerce is a highly competitive environment where giant online retailers like Walmart and Amazon make it difficult for other online merchants to grow and drive conversions. The reason why conversion remains low for some is mainly that customers cannot find what they are looking for. More than ever before, customers are shopping online for the convenience. If they cannot find what they are looking for on your site, they will leave, abandon carts and go to your competitor to buy what they…