Layoffs at Walmart and Allbirds, Facebook ends live shopping

Author

Stephen Babcock
August 04, 2022

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With jobs in focus this week, top names in ecommerce and retail said they will be reducing workforces. Shifts in strategy are present throughout the announcements, as Walmart moves toward ecommerce, advertising and health, while Glossier expands in wholesale.

Meta said it will focus on short-form video content with Reels instead of the extended livestreams with product tagging that it introduced two years ago. Following the news that TikTok is holding off on expanding its own live shopping features, it calls into question whether livestreaming fits into social commerce, even as shoppable content is on the rise.

One of retail's most important seasons is swinging into full gear with the arrival of August. Early back-to-school projections show that inflation will provide more incentive for deals and pullback in some categories. Overall, spending is expected to equal record levels.

Along with new features and self-service capabilities, Walmart recently added four new partners to its advertising platform: Intentwise, Perpetua, Quartile and Sellozo. Through these partnerships, Walmart is providing CPGs and brands with opportunities to extend advertising beyond its own channels.

Called Prisma Ventures, the $20 million VC fund will invest in early-stage startups building technology for online and in-store experiences in areas like personalization, AR/VR and social commerce. It’s a sign of how retailers are stepping into a role as ecosystem leaders.

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