We’re ending the first full week of January 2025 with a short, sweet, and encouraging message: “Let’s get it on!”
Same with our news lineup today—short, sweet, but full of intrigue enough to get you through the weekend.
HOT TOPIC
Time is ticking for TikTok and its services, including TikTok Shop, as the impending ban of the platform on January 19 rapidly approaches. The unfortunate thing is many small online businesses relying on the platform’s traffic will surely feel its impact.
As shared by Fast Company, losses could be more than $1 billion in revenue in just one month! 💸
Why is TikTok being banned again?
In April 2024, a law was passed in April 2024 requiring TikTok’s parent company, ByteDance, to divest its U.S. assets to avoid its “grave threat to national security.” Failure to do so will result in its nationwide ban.
If the ban pushes through, businesses that made TikTok Shop a main lifeline would need to make some adjustments:
📍 A moral ecommerce lesson
The looming ban on TikTok is a wake-up call that you can’t rely on just one marketplace or platform. It’s best to build a brand community for long-term success. Only by having a resilient seller-customer relationship can your brand weather unexpected ecommerce storms.
Recently, President-elect Donald Trump has requested to delay the ban. But, the Department of Justice is appealing to the Supreme Court to reject the delay.
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BITES OF THE WEEK
ECOMMERCE NEWS
Ecommerce is set to break a new record—but not for the reason you think.
🔢 Post & Parcel reported the growing issue of ecommerce returns, particularly its meteoric rise and climbing costs. According to ParcelHero’s Retailers Reach the Point of No Returns report:
◀️ The toll of returns
Sellers lose approximately £60 billion annually on returns. Almost 40% of customers return an online purchase monthly. Plus, online returns typically cost more to process than physical returns.
Despite this, some smaller businesses cope with the costs or risk negative online reviews. This shows the disconnect between customer expectations and financial realities.
How are your post-holiday returns rate? Do you plan on having a return policy update for 2025