The IRS is building its own online tax filing system allowing taxpayers to directly send electronic returns to the government at no cost, bypassing commercial options like TurboTax. In a pilot test planned for next year, the IRS aims to offer an alternative to the $14 billion tax-preparation industry.
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Shein, one of the largest fashion retailers, has launched a marketplace in the U.S., expanding its offerings beyond fashion and becoming a hybrid retailer and marketplace. With sales reaching $30 billion in 2022 and projecting global GMV to grow to $80 billion in 2025, Shein aims to become a top online retailer in the U.S. […]
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Starting June 27, 2023, a new law called the INFORM Consumers Act requires Amazon to collect, verify, and disclose information about high-volume third-party sellers. Sellers must provide details such as their name, government ID, business address, bank account info, and more. Failure to comply may result in temporary account deactivation.
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mazon has announced that starting from June 6, 2023, new product listings for certain product types must include three new attributes: color name, size name, or product description attributes. These attributes are required for specific product types such as backpacks, underpants, bra, apron, keychain, costume outfit, leotard, scarf, sunglasses, light fixture, art supplies, hardware handle, kitchen, artificial plant, wireless accessory, home furniture and decor, and office products.
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Etsy will raise its fees in some European countries as of June 1st, 2023. However, this isn’t a general fee increase. This time, it’s an increase in a supplemental fee called the “Regulatory Operating Fee,” which Etsy charges in select markets to cover regulatory compliance costs.
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Shopify has announced that it will be 20% smaller after laying off employees and selling its logistics business to Flexport, as part of an effort to streamline operations and focus on core services. The news came as Shopify announced Q1 earnings, which showed a 15% increase in Gross Merchandise Volume (GMV) year-over-year and a 25% increase in total revenue, exceeding Wall Street projections.
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Shopify has introduced a new tool called Shopify Bill Pay, allowing merchants to manage and pay vendors within the Shopify admin. Powered by Melio, an Israeli-based B2B payments, and bill pay service, Shopify Bill Pay is available to US merchants at no additional cost other than payment processing fees on some payment methods.
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Walmart has launched a new program called the Review Accelerator Program that encourages customers to leave feedback after purchasing a product on Walmart.com. Customers who purchase an item participating in the program will be asked to write an honest and accurate review in exchange for a digital reward for their next purchase on Walmart.com. Marketplace sellers who enroll their items in the program will be charged a $10 service fee per review.
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Bed Bath & Beyond, once a thriving retail powerhouse and popular home furnishings destination, is now facing bankruptcy. The company’s revenue has declined, and its stock price has fallen by nearly 70% year over year. With so much uncertainty surrounding the company’s future, many wonder how things went wrong. According to insights from retail experts cited by CBS News, Bed Bath & Beyond made three key mistakes that contributed to its decline.
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