The e-commerce site Etsy is almost entirely powered by millions of independent sellers who offer everything from vintage clothes to freshly made slime. A good number of these entrepreneurs make their living by selling stuff on the site, which explains the anger that many of them felt towards a recent policy change at the company. Instead of collecting a transaction fee of 3.5 percent of sales, Etsy now plans to take a 5 percent cut of both sales and Continue reading
In recent years, millions of consumers have grown accustomed to the convenience of online shopping. Along with enjoying wide selections and free home delivery, e-commerce customers often don’t pay sales tax for items purchased online. However, that last fact could soon change thanks to a new Supreme Court ruling.
The decision reverses a previous ruling that prevented companies from collecting sales tax in states where they had no physical presence. Given that online retailers aren’t constrained by borders, though, a Continue reading
In last year’s hit “Bodak Yellow,” the rapper Cardi B starts the song off by bragging about wearing expensive “red bottom” shoes. While those unfamiliar with fashion might not understand the lyric, fans of fancy footwear know there’s only one brand she could be talking about: Louboutin. Since the early 1990s the company has made high-priced stilettos that all feature bold red-colored soles. With the most basic pair going for more than $650, Louboutin shoes stand as symbols of luxury Continue reading
About five years ago, the residents of a small village in Peru discovered that a nearby mountain had suddenly burst into color. The snow that once capped the mountain had melted away, revealing a marvelous spectrum of multicolored soils on its peaks. Word about the “Rainbow Mountain” soon spread throughout Peru and then the world, instantly transforming this remote region into a bustling tourist destination.
Local guides lead about 1,000 hikers to the site every day, charging $3 per Continue reading
Since the release of Fortnite Battle Royale last summer, the video game has grown from a modest success into a global phenomenon with more than 40 million active players. At one point in March, 3.4 million people were playing Fortnite at the same time, making it by far the most popular video game currently on the market. The concept behind it is simple enough: 100 players parachute onto an island to fight until there’s only one person or team left Continue reading
Last week, we took a look at the logistical nightmare that caused hundreds of British KFCs to close due to a lack of chicken. And while the company seems to have solved this issue for now, another strange supply chain problem is frustrating consumers halfway around the world. This time, however, the product in question is a bit more essential to daily life than fried chicken.
Over the weekend in Taiwan, panicked shoppers rushed to stores so they could purchase Continue reading
In 1912 Leon Leonwood Bean sold his first 100 pairs of boots to local hunters, promising that the footwear would “give perfect satisfaction in every way.” Soon enough, though, 90 customers brought their boots back after the bottoms became separated from the tops. While Bean nearly went bankrupt providing refunds, he knew that he had to stick to his word in order to regain his customers’ trust. As a result, people continued to support his business, which eventually grew from Continue reading
If you’ve ever owned an iPhone, you may have noticed that the device tends to slow down as it gets older. At first glance this might seem like a natural occurrence. After all, any piece of technology inevitably grows to be obsolete, no matter how advanced it appeared when it was first introduced. But the way that iPhones drop in performance has frustrated customers since the iconic product launched in 2007. Then last month, a group of Internet investigators discovered Continue reading
Much like the retail industry, Hollywood studios did not particularly enjoy 2017. Ticket sales at the nation’s cineplexes fell by an estimated 4 percent, representing the movie business’s lowest attendance in 22 years. What’s more, experts say those numbers would have been even worse without the help of December blockbusters like the new Star Wars and Jumanji films. But as sales at the traditional box office fell last year, business began booming for the subscription-based ticket service MoviePass.
For Continue reading
Last week we took a look at how analysts were lowering their expectations for Black Friday, which is traditionally the country’s biggest annual shopping event. While retailers managed to generate about $5 billion in sales on the day, this year’s take was decidedly lower than in years past. In some cases store traffic was non-existent, leading at least one newscaster to vent their frustrations about the poor turnout on air. But while some brick-and-mortar stores stayed empty, Continue reading