Walmart is joining the livestreaming trend with TikTok as creators on the social platform will participate in a shoppable show. Meanwhile, eCommerce firm StockX landed funding that it plans to use to grow its product category and get into new markets. In the digital shift, consumers are using several channels to purchase their groceries, while many Main Street businesses are harnessing multiple channels to fuel sales. And in recurring payments, subscription bundles are making a comeback as consumers spend more time at home. All this, Today in Data.
Data:
$275M: Amount that resale eCommerce firm StockX raised in a recent Series E funding round.
60%: Minimum share of Main Street firms that operate at least three channels to drive sales: online, physical stores and phone.
51%: Share of consumers who rank saving money among the top three reasons for buying subscription bundles.
43M: Number of followers of TikTok creator Michael Le, who will participate in Walmart/TikTok’s shoppable variety show.
23%: Share of U.S. consumers who say they are ordering more groceries online for delivery now than they did before the pandemic.
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