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Ecommerce creates 654,000 direct jobs worldwide

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A few days ago, the largest eCommerce meeting in Spain was held in Madrid, Meet Commercewhich brought together more than 600 attendees and digital business professionals in Spain and around the world.

Visitors from more than 30 countries around the world, including representatives of companies such as TikTok, Shopify, Salesforce and Adobe, among many others, they were during an intensive day analyzing and developing their proposals to face the growth of the eCommerce sector for the coming months in which a recession in the digital business model is expected throughout the world.

According to the data that was given during the day, eCommerce worldwide generated more than 4.9 trillion dollars in sales and more than 654,000 direct jobs were created which makes me one of the main economic engines.

The meeting, opened by Nacho Riesco, VP of Interactiv4, together with the largest representatives of eCommerce in Spain, analyzed the challenges and trends that digital businesses will encounter in the coming months, which is pointing to a recession in the sector itself after 5 years of above-average growth expectations.

«Ecommerce in Spain has had exponential growth in the last 4 years. All the companies with digital business attending the event agreed that during the pandemic they took the opportunity to invest in technology and expand their digital models. Fundamental topics such as data technology, social responsibility, personalization and implementation of marketplaces«, explains Nacho Riesco.

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The eCommerce companies in Spain are better prepared today than before the pandemic to face the new digital needs. The continued growth and technological investment has turned eCommerce in Spain into already consolidated models.

The present goes through the hybrid model

The event was attended by the President of the Spanish Retail Association, Laureano Turienzo, who analyzed the growth situation of eCommerce in Spain throughout the world and pointed out the need to stop seeing the retail landscape as a binary model exclusively of physical companies or online companies.

«It is not a binary model, we are facing the consolidation of the hybrid model in which the online business does not have to be exclusively online and must necessarily be seen as a complement to the physical store and vice versa. The online/physical concepts should not be separated, but rather seen as one more leg. It has been shown that many online sales end their collection at the physical point while many physical sales begin at the online point“, explained the President of the Spanish Retail Association.

Some figures that reflect the importance of the hybrid model are that online companies like Amazon already have more than 600 stores in the world, or the Asian giant Alibaba, which has 1.5 million stores. Shein, the fashion eCommerce, has just opened its first store in Japan and has already had its first physical experience in Madrid.

One of the most recurring themes in the more than 40 presentations that were made had as a common element the data and how to use it.

«More data has been collected in a year than in all of history. The main concern of companies is how to take advantage of and interpret this data and the largest investments in technology are directed in this direction. 20% of sales come from the good use of data»explains the VP of Interactiv4.

Another aspect related to the use of data is reflected in the possibility that this information offers to hyper personalize the user experience. In fact, it is already noted as a clear trend that each Commerce can show an exclusive product and sale page for each client.

Only by analyzing and interpreting the data collected from each client well, will it be possible to offer a personalized website for each one of them, in addition to maintain an exclusive relationship with him, offer specific offers and personalized treatment.

«In short, we tend to personalize the shopping experience of each client as much as possible. Whether in relationships through social networks, emails and of course every time you access the online store. The future goes through this extreme personalization, and to carry it out it can only be achieved with the good use of the data that is collected, either in online stores or in physical stores ». explains Nacho Risk.

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Titbit raises 150,000 euros in its second investment round

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Three years ago, two entrepreneurs from Barcelona They launched an innovative project within the audiovisual production sector. Arnau Seix and Adrià Coll They founded the digital video startup, Titbit, weeks before COVID broke out, and in the middle of the pandemic they managed to raise their first round of investment. Three years later and with a consolidated project, the production company closes a new capitalization in which he has once again raised 150,000 euros.These rounds of adjusted capital allow us to grow and evolve in a conscious and reasonable way, without having to make disproportionate growth promises that imply making investments at a frenetic pace”explains Arnau Seix, who together with his partner and co-founder is committed to continuing to strengthen the bases to achieve the objectives set.

On this occasion, Titbit has given entry to reference investors in the world of advertising, and among them stands out one of the leaders in the sector, Juan Manuel de la Nuez, a professional with extensive experience and former CEO of the Wunderman Thompson agency. “In my professional career, I have met clients many times to whom the issue of content production for external communication or even internally, it was a real headache for them, since the agencies could not respond competitively in time or cost, and neither could the production companies. For this reason, when I got to know Titbit, I understood that it is a solution that responds to these headaches and therefore represents a clear potential for growth and investment.”.

With this round, Titbit aims to increase its national expansion, both commercially and in product development. The startup’s headquarters are located in Barcelona and also has an office in Madrid. “We want to create a commercial network that allows us to help other countries to achieve more agile and economical productions, since we have confirmed that the creation of digital content suffers the same problems outside our borders”. In addition, the celebration of the third anniversary of the startup coincides with a change of corporate image and the launch of the new website, which is in line with continuing to innovate in the sector, reflecting the value of its disruptive proposal.

Regarding the evolution of the project in the short and medium term, at a time of economic uncertainty like the current one, companies apply budget cuts in marketing and advertising, but even so they need to communicate more than ever, since they must compensate for the loss of sales caused by the crisis. “Many brands are looking for a new way to produce their content for digital channels, and this is where Titbit’s proposal becomes more relevant than ever”, explains Arnau Seix, who also sees international markets as an interesting option to continue growing.

“In these three years we have seen how big brands have connected with our message: closed and transparent prices, much more agile productions (maximum 15 days) and unlimited rights of use in all their pieces”. Stephanie SalvatMarketing Manager of Hoteles Hesperia, tells about his experience with Titbit that “It is the first production company I know and with which I collaborate that has such a clear differential value proposition”.

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Creek Technologies acquires Imburse to improve the payment experience

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Operation of great importance in the insurance industry. Smart solutions provider, Creek Technologys, has just announced the definitive agreement of the purchase of Imburse Paymentsa modern payment platform based in Switzerland.

The payment solution software-as-a-service (SaaS) native on the cloud de Imburse is designed for the insurance sector. It offers greater ease and efficiency in insurance transactions end to end. In addition, Imburse enables insurers to quickly connect to the entire payments ecosystem at lower cost, seamlessly integrate into existing financial infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place.

The platform is consumer-oriented and offers policyholders a flexible and easy-to-use checkout experience, as well as the possibility of directing payments quickly and safely.

As part of Duck Creek, Imburse will continue to serve its current customer base and markets, while accelerating expansion goals to new customers throughout Europe, North America and Asia-Pacific. Although Imburse will continue to be available as a standalone, the platform will be fully integrated with Duck Creek’s suite of technology solutions, further enabling insurers’ digital transformation goals through modern tools.

Product for the global industry of the sector

“Imburse has developed a great product for the global insurance industry that is not only easy to integrate and implement, but also offers insurers incredible flexibility and payment options”said Mike Jackowski, CEO of Duck Creek Technologys. “Imburse has a robust team that represents the core values ​​of Duck Creek. They have deep experience across the payments ecosystem and will help extend Duck Creek’s leadership in the insurance industry.”

“Being a part of Duck Creek will further accelerate our mission to simplify the way businesses around the world access the global payments ecosystem,” said Oliver Werneyer, CEO of Imburse. “We are excited to be a part of Duck Creek and to work together to deliver modern technology innovations that will transform the insurance industry of the future.”

The acquisition remains subject to customary closing conditions and is expected to close during the second fiscal quarter of 2023.

The Creek Technologys entry acquires Imburse to improve the payment experience is original of MuyPymes

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The Community of Madrid chooses EAE Business School as project accelerator

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EAE Business School Madrid, which is part of Planeta Formación y Universidades, has been chosen by the Community of Madrid What innovative project accelerator of entrepreneurship, in collaboration with other prestigious entities such as Lanzadera and Wayra. This initiative is expected to contribute to accelerating 50 new ideas and projects.

Within the framework of the Recovery, Transformation and Resilience Plan, financed by the European Union – Next Generation fund, the business school has been chosen as the head of this initiative in Madrid whose objective is to promote entrepreneurship and the talent of the region, strengthening the value chain of the cultural and creative industry and, therefore, stimulating the recovery of the Spanish economy.

«Being the only educational institution chosen by the Community of Madrid as an accelerator agent is an important recognition of which we are very proud. Collaboration in this project reinforces the great work that EAE Business School Madrid is doing to promote entrepreneurship and innovation, vital aspects for our school. In addition, this initiative reinforces our commitment to position EAE Business School Madrid as a key school for attracting young entrepreneurs with disruptive and creative ideas that will lead the future of the business and economic ecosystem in Madrid and, therefore, in Spain.”says Javier Almazán, Director of EAE Business School Madrid.

Flexibility and adaptability of business projects

The accelerator and its development programs will contribute to increasing the flexibility and adaptability of new business projects, in a global context of continuous change. Its objective is not only focused on providing capital through seed investmentsbut also in accompanying ideas with high growth potential in order to implement them successfully.

To this end, EAE Business School Madrid will play the role of mentor and tutor to entrepreneurs, offering intensive training programs and thus contributing to generating an ecosystem of cooperation and communication with other agents and strategic entities.

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In addition, this mentoring will boost the transformation of cultural activities towards digitization thanks to the incorporation of new Technologys in projects, favoring synergies between the cultural and creative industry with other economic sectors. For this reason, the collaboration of EAE Business School Madrid will improve access to financing for cultural projects, accelerating the professional growth of entrepreneurs and companies.

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