E-commerce growth remains elevated even after the peak COVID-19 stockpiling period in March, according to data from IRI.
E-commerce sales for consumer packaged goods, like food and household products, grew 83% during the April to early July period compared to last year.
IRI expects e-commerce growth to remain strong as consumers stick to online shopping amid the pandemic and retailers invest more heavily in their online businesses.
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One of the silver linings of the COVID-19 pandemic has been the rapid rise of e-commerce, as more people shopped online while sheltered at home.
The lockdown-driven shift to online shopping, which started to gain steam in March, appears to have accelerated even more in recent months, as more people realized the convenience of e-commerce and companies increased their investments in the space, according to recent data by market research firm IRI.
In a report published last week, IRI wrote that e-commerce sales for consumer packaged goods, like food and household products, grew almost 83% during the April to early July period compared to a year ago. That's an increase from the roughly 62% jump seen during the peak stockpiling period of March, the report said. Other channels like grocery and dollar stores also saw significant growth during the same time frame.
As a result, e-commerce is taking up a larger share of household spending. According to IRI, the percentage of households buying online grew 8 percentage points from March to July, to almost 33% of total. The amount of money spent on e-commerce for each household also jumped 38% to $250 per month, the report said.
All this is showing up in huge sales growth for e-commerce businesses. Amazon far exceeded Wall Street expectations for the second quarter, reporting 40% sales growth for $88.9 billion in quarterly revenue last week. Walmart's US e-commerce sales soared 74% in May, backed by strong curbside picked demand, while Target reported 141% growth in its first-quarter e-commerce sales.
IRI expects e-commerce growth to stay strong going forward as consumers remain cautious of in-store shopping and large retailers continue to invest in its online shopping businesses. For edible products, e-commerce is expected to account for up to 12% of total dollars spent by next year, and up to 35% for non-edible products.
"While some new CPG e-commerce users will switch back to in-store, conversion will stick for many as in-store safety concerns remain and e-commerce purchase habits take hold," IRI wrote in its report.
You can download the full report here.
SEE ALSO: Leaked screenshot shows Amazon letting sellers choose a yet-to-launch Swedish marketplace to register brands, hinting at the company's next target market
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The League of Legends World Championship 2020 will be held in Shanghai | Riot Games
Even though many esports tournaments this year have been postponed or canceled due to the coronavirus pandemic, Riot Games announced that it will hold the League of Legends World Championship 2020 in Shanghai from September 25th to October 31st. The finals will be held in Pudong Soccer Stadium. The company says by hosting the event at one site rather than several different sites, they’ll be able to more closely control the show environment.
At present the plans call for early stages of the tournament to have no in-person audiences. The company says it will rely on “local guidelines” to decide whether to allow an in-person audience for the finals. If so, details about tickets and any safety measures that need to be applied will be...
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A Vivo smartphone boasting the model number V2006 surfaced on GeekBench Benchmark listing with a Snapdragon 765G SoC and 8GB of RAM. Worth noting that ...
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Rumor claims Apple's first ARM-based MacBook will be cheaper than Intel-powered machines
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Ford has released the hounds into its factories, setting two Boston Dynamics Spot robots loose to survey its Van Dyke Transmission Plant. Part of the robot-maker’s newly-expanded lease program, Ford’s goal with the two quadrupeds is to create a 3D digital scan of the facility that’s both faster and cheaper than the old method. Clearly, Ford is no stranger to … Continue reading
(Northwestern University) New research by Northwestern Engineering and Georgia Institute of Technology expands the understanding of origami structures, opening possibilities for mechanical metamaterials to be used in soft robotics and medical devices.
Ministers are set to remove Spain from the government’s list of safe countries to travel to after the European country saw a rise in Covid-19 cases, the PA news agency understands.The decision means those coming back from Spain will have to self-isolate for two weeks upon their return to England.A formal announcement is expected to be made by the department for transport on Saturday.In Spain, Catalonia became the latest region to crack down on nightlife, trying to halt new infection clusters.The wealthy north-east region – home to Barcelona – ordered all nightclubs to close for 15 days and put a midnight curfew on bars in the greater Barcelona area and other towns around Lleida that have become contagion hot zones.Spain has reported more than 900 new daily infections for the last two days as authorities warn the country that lost 28,000 lives before getting its outbreak under control could be facing the start of a second major outbreak.The expected announcement about the removal of a so-called “air bridge” with Spain comes only a day after a further five countries were added to the quarantine-free list for people travelling to England.Anyone coming from Estonia, Latvia, Slovakia, Slovenia and St Vincent and the Grenadines will not be required to isolate for two weeks on arrival, the government confirmed on Friday.Popular holiday destinations including Portugal, Thailand and the United States remain notable absentees.The government said people should continue to check the Foreign and Commonwealth Office’s travel advice and their insurance policies before embarking on any overseas travel.Ministers had previously warned that travel corridors could be closed if coronavirus rates escalated in other nations.Travellers, even those from exempt destinations, are still required to complete a passenger locator form when they arrive in the UK.Related...
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This article was originally published by Sarah Wray on Cities Today, the leading news platform on urban mobility and innovation, reaching an international audience of city leaders. For the latest updates follow Cities Today on Twitter, Facebook, LinkedIn, Instagram, and YouTube, or sign up for Cities Today News. Dublin is trialling mini urban distribution centers and powered walkers and quad cycles to enable city centre deliveries that don’t contribute to local emissions or congestion. The pilot is funded by Dublin City Council, Enterprise Ireland and Belfast City Council and the system was developed as part of a Small Business Innovation Research… This story continues at The Next Web
Martin Casado is a general partner at Andreessen Horowitz, the legendary venture capital firm that had early investments in Facebook, Lyft, Slack, and many other tech powerhouses.
Casado says that A16z does not believe that COVID-19 will lead to completely new technology trends, but it does believe that it will accelerate certain areas that were already succeeding.
The three big cybersecurity trends that he expects to continue gaining momentum are remote work, virtual private networks, and identity-based security.
Casado also opened up about what startups are experiencing: As a tech founder, he steered his company through the 2008 recession, and says a down economy is not a bad time to grow a company.
However, he does think that there's one big thing that startups are missing out on because of the coronavirus crisis: serendipity.
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Martin Casado, a general partner at the hallowed venture capital firm Andreessen Horowitz, admits that there are a lot of unknowns around the coronavirus crisis when it comes to technology and VC: "I think we're all trying to figure out what the long-term impacts of COVID will be," he said.
Still, he and the firm have a definite perspective that's guiding an investment strategy:
"You can see COVID as changing everything, and the world will never be the same again, or you can see it as a moment in time, because the world will go back to the way it was," Casadao says. "We actually think it's more complicated than that. What we've decided is, we believe that it is accelerating some trends, but we're not at the point where we believe it is creating entirely new ones that are going to persist."
Casado believes COVID-19 will accelerate three main trends
Casado highlighted three trends in particular that are being accelerated by COVID-19 and will continue to have success as the world emerges from the crisis: Remote work, virtual private networks, and identity-based security.
"The real sweet spot is the trends that have already been in play, and are booming during COVID," he said. In these cases, the world was already moving in the same direction before the crisis and "you could almost view COVID's impact strictly as an acceleration."
Remote work companies have dominated 2020, led by companies such as Zoom – which raised its market cap by $11 billion during the pandemic to a whopping $33 billion. Microsoft, Slack, and Cloudflare have all done well this year too, as have newcomers such as Figma, a San Francisco startup that raised $50 million in April, and Confluent, which pulled in $250 million that same month.
The VPN space, meanwhile, has been complicated, as companies needed additional security tools to support work-from-home employees – but also realized that a remote worker on public WiFi or a compromised home network could actually pipe security issues into the corporate network that the VPN was intended to protect. NordVPN has led pure-play remote companies, while established firms such as Microsoft, McAfee, and Kaspersky VPNs have done well, , and startups like SplashTop have introduced new COVID solutions.
Identity security has exploded in the work-from-home period, too, as passwords have failed to provide adequate protection to companies with far-flung employees accessing key corporate assets from home on different devices. "You're not laying eyes on people, the oldest identity-recognition process on earth," says Casado. Okta's stock has more than doubled since March, Ping has done well, and BioCatch pulled in a $145 million round of funding in March.
"We do think that, because these trends were already going this direction, there's no reason to think that they are somehow going to unwind after COVID," Casado said.
However, he's more cautious about startups that are popping up with technology specifically tailored to COVID needs, like social distancing or video conferencing. They will be too reliant on current conditions, he said: "That's not a company, it's a use case."
Casado says that it's not a bad time to start a new company — besides one missing factor
Andreeseen Horowitz has helped launched some of the most important tech companies in the world an early investor in Facebook, Slack, Stripe, GitHub, and many other others. Casado, in particular, has influence in the cybersecurity space: He sits on the board of Yubico, which has seen booming interest in its identity security tools during COVID-19, and he also discovered newcomer Material, which has brought innovation to email security as it emerges from stealth mode.
Casado, who holds a PhD and master's degree in computer science from Stanford University, cofounded a company himself earlier in his career. He helped to steer his computer networking software company Nicira through the 2008 recession, and then sold it for $1.26 billion to VMWare in 2012.
Based on that experience, Casado does not believe this is a terrible time to grow a startup. "I started my company in 2007, and in six months we were in the worst economy since the Great Depression," he said. "I basically built my company from the bottom up. I'd much rather ride an economy up than ride an economy down."
He believes it's a smart time to invest — despite the pandemic — and that other investors are also on board. "I'm very bullish on investing [right now], and I think the VC community has gotten that memo, too."
Steering a new company or investment through troubled times might be challenging, but it is often good for a business longterm, Casado says. But there is one area he believes is currently a real challenge for the startup world.
"I can imagine running a company now, having created a company and navigated it through a recession. That makes sense to me," he said. "But how do new things start right now? How do you create new companies? How do you get that serendipity?"
When gifted people accidentally collide – think John Lennon and Paul McCartney in Liverpool in the early 1960s – something happens. There is a spark of chemistry that can create a new movement. "Where is the floating grain of sand that gets inside an oyster and somehow creates a pearl?" Casado asks.
In the physical world, founders often run into each other at a meetup, or are introduced by friends and colleagues. That's not happening right now.
"That may be the biggest impact of all of COVID: The pandemic has reduced our ability to have those first encounters, to engage at a meaningful, kind of emotional and intellectual level with someone who provides a complementary idea," he said. "How would we do that right now?"
He's skeptical that a coordinated video meeting can cut it.
"I do think that you have the tools to do that online, but do people use them in that kind of simultaneously engaged but receptive way? Do you have inspired, accidental conversations of discovery on Zoom? I just don't know," he said. "I hope so. I hope somewhere online two founders, each with one half of a world-changing idea, are connecting that way right now."SEE ALSO: Ashton Kutcher's nonprofit Thorn – which received $60 million to fight child sexual abuse – just started selling a new AI product to help social networks like Vimeo, Flickr, and Slack weed out child porn
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Marc Levoy, the researcher who used software to turn Google’s Pixel camera into a powerhouse, has joined Adobe to build a universal camera app, Adobe announced today.
Levoy headed up the team that developed the impressive computational photography technology used in Google’s Pixel smartphones, including features like Night Sight, Portrait Mode, and HDR+. His work also helped Pixels take great photos without requiring as much hardware as competing phones — the Pixel line famously only needed a single camera to stay competitive with Apple’s iPhones, until a desire for sharper zoom images pushed Google to add a second, telephoto lens with last year’s Pixel 4. (The first iPhone with a second lens, the iPhone 7 Plus, came out in 2016.)
Samsung Galaxy M31 will be the company’s next mid-range smartphone slated for July 30 launch in India.
(Harvard University) Last December, Harvard researchers designed technology that could achieve the lowest temperature chemical reactions and then broke and formed the coldest bonds in the history of molecular coupling. Now, though reactions are considered too fast to measure, they determined the exact lifespan of their intermediate--the space between reactants and products--and solved the mystery of why some ultracold molecules simply disappear.
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This combination jump-starter and power bank is beefy enough to start a car with an 8-liter engine and has dual outputs for charging your portable gadgets.
It’s a long time ago, and this pilot fish is writing real-time code for an aerospace company. “On one project, I developed some software to test a radar interface at a remote location,” says fish. “The test software was installed on a computer and the box was shipped to the remote site.”Next day, fish gets a call from an engineer at the test site: The test software is crashing as soon as it starts.Still on the phone, fish opens a listing of the latest version of the source code, and his heart sinks. Right in front of him is a typo that’s guaranteed to cause a fatal error on startup.Fortunately, fish installed the source code and a compiler on the test computer. He can’t directly edit the code, but all he has to do is walk the engineer though the process over the phone — and all the engineer will have to do is type a few commands that will edit the file and build the software.To read this article in full, please click here
Chan School of Public Health, Apple, and the National Institutes of Health today launched the Apple Women's Health Study, a large-scale longitudinal study led by a team of researchers at Harvard Chan School that aims to advance understanding of menstrual and gynecological health.This first-of-its-kind study will shed light on women's overall health needs across the lifespan and has the potential to become the largest and longest-running longitudinal study focused on women's health."Treating the menstrual cycle as a vital sign, such as heart rate or blood pressure, could lead to the earlier detection of many health conditions, both gynecological and systemic, as well as a better understanding of women's reproductive health and health needs overall," said study researcher Shruthi Mahalingaiah, assistant professor of environmental reproductive and women's health at Harvard Chan School."We are uniquely poised to translate this data into discovery that will lead to better awareness and empowerment around women's health issues on a global scale."Users can enroll and participate in the study by downloading the Apple Research app, available on iPhone.The study will collect data, such as cycle tracking information, and use monthly surveys to understand each participant's unique menstrual experience.
Betaltjänsten kommer att integreras i koncernens olika appar: Facebook, Messenger, Instagram och Whatsapp.Det framgår av ett pressmeddelande från techgiganten på tisdagen.”Användare genomför redan betalningar för att shoppa, genomföra donationer och att skicka pengar till varandra.Facebook Pay kommer att underlätta dessa transaktioner samtidigt som betalningsinformationen ska hållas säker och skyddas”, heter det.Facebook Pay ska inledningsvis rullas ut på Facebook och Messenger den här veckan i USA och kunna användas för insamlingar, köp inuti spel, biljetter till event och betalningar mellan privatpersoner på Messenger, och inköp från utvalda sajter och företag på Facebook Marketplace.Facebookaktien handlades på tisdagen upp med 2,6 procent i New York.
OnePlus is a company that has not rested in recent years.With 4 flagship smartphones a year and scheduled releases every 6 months, it’s no wonder if the OnePlus 8 is already in the testing phase and made for manufacturing.That’s why these new images make us think.This is reportedly a prototype of the OnePlus 8 or 8 Pro and there is a considerable difference from its predecessors.OnePlus 8 Prototype has a punch-hole for the front cameraRegarding the OnePlus 7T, The Pro model has a front pop-up camera, however, the “normal” model has a notch.
PALM SPRINGS, Calif.—Marketers suggest following feelings when it comes to capturing—and holding—the attention of Gen Z consumers in a crowded content space.Harley Block, senior vice president of brand partnerships at Viacom, said the next generation has enormous purchasing power of $44 billion per year.Every day, Gen Zers watch six hours of content, including 68 videos, and check social media 100 times.The next generation is also indulging less in drinking, drugs and sex, Block noted.But depression and anxiety are on the rise, driven by social media issues like cyberbullying.Khartoon Weiss, global head of verticals at Spotify, pointed out the necessity for brands to lean into all of those emotions.
These demos are always crowd-pleasers and tantalising teases of how users might soon be able to further streamline their workflows.But in recent years these sneak peeks have also provided a look at how artificial intelligence promises to radically change all the digital tools we use, as more often than not, Adobe’s latest and greatest leverage the company’s Sensei deep learning platform to pull off their seemingly magical feats.Not to be mistaken with the classic children’s toy where plastic pegs were stabbed into a glowing board, Adobe LightRight might be the holy grail for photographers who incessantly tweak and adjust every aspect of their photos in apps like Adobe Lightroom.Using Adobe Sensei, LightRight can be used to radically adjust the lighting in a photo after it was taken, and not just in regards to the overall exposure or brightness.One day photographers might not even have to bother looking through their camera’s viewfinder, as everything wrong with a shot could be easily fixed by an AI after the shutter button is pressed.As progress on leveraging AI and deep learning to manipulate photos and videos accelerates at an alarming pace, so does the development of tools designed to help humans recognise what’s real, and what’s been faked.