According to a new study, although increasing numbers of retailers are prioritizing customer-centric initiatives, a vast majority believe that they are not effectively adapting to the demands of hyperadoptive consumers.
The B2B wholesale e-commerce platform announced on Wednesday that it has received $15 million in Series C financing, funds that the company said it will put toward accelerating product innovation and growing its team.
Koovs continues to be lossmaking but its losses are reducing as margins improve and its recent funding round has left it confident of future growth in a market where only 1% of sales currently happen online.
Koovs reported a better set of results for the first half as it sold more full-price product and boosted brand awareness. But profits remain elusive and the company must close a funding round to generate marketing cash.
Amazon.com is selling off the hardware from its public cloud business in China, amid tightening regulation over online data that is creating a hurdle for technology firms operating in the world’s second-largest economy.