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Shein and Temu to Increase Prices Amid Tariff Changes Affecting U.S. Market
Shein and Temu to Increase Prices Amid Tariff Changes Affecting U.S. Market
Shein and Temu will raise prices for U.S. customers starting April 25, 2025, in response to President Trump's new tariffs on Chinese goods. The 145% tariff, along with the elimination of a customs exemption for products under $800, is disrupting their business models. Both companies have gained popularity due to their low prices and influencer marketing. Amazon views them as significant competitors, prompting the launch of Amazon Haul. Despite the price hike, Shein and Temu are assuring customers that orders will remain timely and they are working to minimize disruptions.
Created at: April 17, 2025 2:00pm
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Amazon Unveils 'Interests': Personalized Shopping Prompts Powered by AI
Amazon Unveils 'Interests': Personalized Shopping Prompts Powered by AI
Amazon has launched a new feature called 'Interests,' designed to personalize the shopping experience using generative AI. This tool allows users to input tailored prompts reflecting their preferences and budget, enhancing search relevance. By utilizing large language models, Interests converts everyday language into queries for better product suggestions. The feature also keeps users updated on new items and deals related to their interests. Currently available to select U.S. users, Amazon plans to expand access soon, reinforcing its commitment to AI integration in shopping.
Created at: March 26, 2025 2:30pm
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Qomodo Secures $13.9M to Boost BNPL Services for Italian Retailers
Qomodo Secures $13.9M to Boost BNPL Services for Italian Retailers
Milan-based Qomodo has successfully raised €13.5 million ($13.9 million) in Series A funding, co-led by RTP Global and LMDV Capital. This funding aims to expand its Buy Now Pay Later (BNPL) services for physical merchants across Italy. Founded in 2023, Qomodo has raised a total of €48 million ($49.6 million) to assist small businesses in enhancing cash flow through flexible, interest-free installment options. Currently serving 2,500 merchants, the startup plans to introduce additional banking products to support the physical retail sector, which has been underserved by fintech solutions.
Created at: January 21, 2025 1:30pm
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Amazon Introduces Fuel Discounts for Prime Members Amid Rising Gas Prices
Amazon Introduces Fuel Discounts for Prime Members Amid Rising Gas Prices
Amazon has launched a new initiative to offer Prime members a 10 cents per gallon discount on fuel at approximately 7,000 gas stations nationwide, including Amoco and BP. This move aims to compete with Walmart's similar rewards program. Members can save up to $70 annually on fuel with the new benefit, which requires enrollment in the Earnify loyalty program. Additionally, Amazon plans to roll out EV charging savings through BP Pulse next year, further enhancing its Prime membership value that includes various digital services.
Created at: October 23, 2024 2:00pm
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