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Pinduoduo Aims To Raise Up To $5.6B To Boost Online Grocery Shopping

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16), Pinduoduo said it will use the money “to invest in agricultural logistics infrastructure and responsive manufacturing as consumer behavioral changes accelerate the online migration of retail.”. Pinduoduo added that demand for online grocery shopping in China has surged since the COVID-19 lockdowns.

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Police Allege Money Launderers Are Using Chinese eCommerce Sites To Move Money

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the Shanghai-based company that calls itself the world’s largest online platform. Under the scam, alleged cybercriminals make the online purchases while the same sum is then credited to their gambling account. Money laundering carries a maximum penalty of 14 years in prison as well as a fine.

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Latest Economic Data Sends Mixed Signals About Consumer Holiday Spend

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Hopes for fresh signs of strength heading into the holiday shopping season were crimped Thursday (Oct. Not surprisingly, consumers with lower incomes had less money to spend, and accordingly, the report showed that growth of personal spending also slowed for the fourth straight month, rising by just 1 percent in August.

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FTC Reports $145M In COVID-Related Scams Since January

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million, the group that lost the most amount of money overall was between the age of 50 and 59, filing 6,329 claims for a median loss of $209. In addition, many people were banking online for the first time, and may have been unaware of the warning signs for fraud. .

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FTC: Millennials Report Losing $71M To eCommerce Fraud In Two Years

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A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. Online shopping fraud reports include complaints about items that are never delivered or are not as they were advertised. The average loss was $600.

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Study Says Online Holiday Sales Could Top $200B In COVID-19 Era

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Online retailers should get ready to ring up record eCommerce sales this holiday season. That’s according to a new study issued through Adobe Analytics predicting that “online holiday season spending will reach $189 billion, representing 33 percent growth year-over-year,” according to a Wednesday (Oct. 28) news release.

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Amazon, Walmart Benefit As More Than 1 Million Food Stamp Shoppers Buy Online

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As online shopping becomes the norm, Amazon is courting food stamp shoppers, according to a report by Bloomberg. s ShopRite stores, participates in a pilot program that lets EBT card users buy groceries online for delivery or pickup, Bloomberg reported. The eCommerce giant, along with Walmart and Wakefern Food Corp. ’s