Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

E-commerce giant <keyword id="6357395" type="General" weightage="100" keywordseo="ebay" source="Orion">eBay</keyword> has announced to lay off around 500 workers, about 4 per cent of its staff globally, citing the macroeconomic situation. <keyword id="5680247" type="General" weightage="50" keywordseo="jamie-iannone" source="Orion">Jamie Iannone</keyword>, CEO of eBay, announced the layoffs on Tuesday in a note to staff that was also filed with the US Securities and Exchange Commission (SEC). Iannone said that actions taken are designed to strengthen the company's ability to deliver better end-to-end experiences for its customers and to support more innovation and scale across the platform. "This shift gives us additional space to invest and create new roles in high-potential areas -- new technologies, customer innovations and key markets -- and to continue to adapt and flex with the changing macro, e-commerce and technology landscape. We're also simplifying our structure to make decisions more effectively and with more speed," he said in the note. He further added that the move will allow eBay to focus on "where we can make the biggest impact", including expanding the company's categories of focus. Meanwhile, video communication app <keyword id="10296" type="General" weightage="50" keywordseo="zoom" source="Orion">Zoom</keyword> is also laying off about 1,300 people, or 15 per cent of its workforce, its CEO <keyword id="9011175" type="General" weightage="50" keywordseo="eric-yuan" source="Orion">Eric Yuan</keyword> has announced. <keyword id="62260" type="General" weightage="50" keywordseo="yuan" source="Orion">Yuan</keyword> also said that he is reducing his salary for the coming fiscal year by 98 per cent and foregoing his FY23 corporate bonus. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/moto-e13-launched-in-india-price-launch-offer-and-specs/articleshow/97721974.cms">Moto e13 with Android 13 (Go Edition) launched in India starting at ₹6,999</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/india-is-launching-a-upi-based-coin-vending-machine-pilot/articleshow/97720261.cms">Cold drinks, candy &amp; now 'change': India to test coin vending machines that use UPI</a>

E-commerce giant eBay to layoff 500 employees

<ul class="summary-list"><li>eBay is laying off 1,000 employees — about 9% of its workforce. </li><li>CEO Jamie Iannone announced the cuts Tuesday in a memo sent to staff and shared on its website. </li></ul>eBay is cutting 1,000 jobs — a reduction of about 9% of its workforce. <a target="_blank" href="https://www.businessinsider.com/ebay-ceo-jamie-iannone-ai-ecommerce-tiktok-shein-2023-7">CEO Jamie Iannone</a> told employees in a memo Tuesday that it would make the latest round of layoffs so it could be "more nimble."In the memo, <a target="_blank" href="https://www.ebayinc.com/stories/news/ensuring-ebays-long-term-success/">shared</a> on the company's website, Iannone pointed to eBay's expenses and head count eclipsing the growth of its business. He added that it would also "scale back" the number of contractors it hired. The e-commerce giant <a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001065088/000155278123000042/e23053_ebay-8k.htm">laid off</a> 500 workers in February, which was about 4% of its workforce. In November, the company <a target="_blank" href="https://ebay.q4cdn.com/610426115/files/doc_financials/2023/q3/Exhibit-99-1-ER-eBay-Q3-2023-FINAL.pdf">posted</a> third-quarter revenue of $2.5 billion, up 5% year over year.The eBay chief said in the memo: "Despite facing external pressures, like the challenging macroeconomic environment, we know we can be better with the factors we control. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business." Iannone told investors in a post-earnings call in November that the company was witnessing "softening consumer trends" early in its fourth quarter. He added that it could see a "more muted seasonal uptick over the holidays." eBay's latest job cuts come amid a fresh wave of mass layoffs in the tech industry. Google axed <a target="_blank" href="https://www.theverge.com/2024/1/17/24042417/google-layoffs-2024-internal-employee-memo-sundar-pichai">over 1,000 workers</a> this month, and <a target="_blank" href="https://www.businessinsider.com/amazon-layoffs">Amazon let go of hundreds</a> of employees at Prime Video and MGM Studios and a further 500 people at its streaming platform Twitch.Read the full memo the CEO sent to employees below.

eBay is laying off 1,000 employees &mdash; about 9% of its workforce. Read the memo its CEO sent to staff. 

<ul class="summary-list"><li>Jamie Iannone, the CEO of eBay, says the company is using AI to boost efficiency and creativity.</li><li>He said eBay measures productivity by asking: Am I making every minute matter?</li></ul>This as-told-to essay is based on a conversation with Jamie Iannone, the CEO of eBay. The following has been edited for length and clarity.Teams are most productive when they have shared goals, operate with a sense of urgency, and are working toward measurable outcomes. For us, this means being customer-obsessed and making sure <a target="_blank" href="https://www.businessinsider.com/ebay-growth-executives-ai-ads-authentication-2023-6">the entire organization is focused</a> on delivering for our global community of sellers and buyers.At eBay, <a target="_blank" href="https://www.businessinsider.com/ebay-ceo-jamie-iannone-ai-ecommerce-tiktok-shein-2023-7">we are reinventing the future of e-commerce</a> for enthusiasts. This means building experiences that are tailored specifically to our customers, where they can easily discover things they love. We're doing this by investing in what makes eBay special: unique items at scale, inventory that fuels interests, features that make shopping and selling easy and enjoyable, and a community united by shared passions.Putting the customer at the heart of everything we do results in a more seamless selling and buying experience, and we take feedback very seriously.Our customer-service representatives have tools to share what they're hearing in real time, ensuring these insights are surfaced directly to the product teams developing new experiences for our buyers and sellers.For example, customers have shared they want the listing process to be easier and faster — everything from writing descriptions to filling out item specifics. After getting this direct feedback, our product teams developed <a target="_blank" href="https://www.businessinsider.com/ai-tools-changing-content-creators-work-2024-1">tools powered by AI</a>, including a description generator and an image-based listing flow. These innovations have resulted in some of the highest customer satisfaction scores to date.We also know high-quality product images are proven to result in faster sales, yet we've heard from customers that it can be challenging to create them. We enhanced our background removal tool, helping sellers create even more beautiful images and enabling them to move their inventory more quickly. We hire employees who are enthusiasts themselves and allow them to channel their passion and knowledge to make sure that the best sellers and inventory are on our platform every day.These are small ways we put the right processes and measurements in place to maximize the <a target="_blank" href="https://www.businessinsider.com/ryder-evp-and-cmo-discusses-technology-innovation-at-the-company-2021-8">positive customer impact</a> our people can have.<a target="_blank" href="https://www.businessinsider.com/amazon-jeff-bezos-success-customer-obsession-2018-9">Customer satisfaction is the key</a> to our success at eBay. Therefore, it's our most important metric. Customer-satisfaction scores are critical to long-term success, and we have a companywide goal that's linked to performance reviews and our employee incentive plan.There is real power in satisfying customers — not only will they return for more, but they'll also recommend eBay to their friends and family.We're also doubling down on investments that will help us exceed the expectations of enthusiast shoppers. This includes investing in and expanding our authentication program, which ensures a trained expert is inspecting sold items to check that they match the description and quality of a listing before it ships to the buyer.We're focused on driving satisfaction across categories where eBay has a real competitive advantage and differentiated experience, like collectibles, motors, and luxury fashion. If we can bring an enthusiast shopper to eBay for a best-in-class experience, they will shop in other categories as well.<h2>eBay is using AI to drive the company forward</h2>eBay has been using AI for years. You simply can't operate a marketplace of our size and scope without it. We have 132 million active buyers in 190 markets around the world and enabled $73 billion of gross merchandise volume in 2023.The latest advancements in generative AI have allowed us to unlock the rich data that we have collected over our nearly 30 years in business. The pace of innovation at eBay has benefited from the rollout of a <a target="_blank" href="https://www.businessinsider.com/ebay-chief-ai-officer-changes-e-commerce-ai100-2023-10">new core AI platform last year</a>, which allows us to incorporate AI across all aspects of our business.We've been building tools to help sellers grow their business by making the job of listing products fast and easy and reducing the operational burden of managing their storefronts. For instance, the "magical listing" experience leverages generative AI to instantly populate item descriptions based on a product's title, category, and other item aspects, eliminating the difficult work for our sellers.For our buyers, we've been <a target="_blank" href="https://www.businessinsider.com/sc/how-trendsetters-are-transforming-data-driven-customer-experiences">launching AI-powered experiences</a> that help them find what they're looking for through natural-language search, using generative models to personalize our recommendations, and providing AI-powered expert content in key categories.For our employees, leaders across our company have been working on piloting several different approaches, all meant to unlock the creativity of our software engineers, analysts, customer-service representatives, and content creators and make it easier for employees to spend more time on the highest-value work.This includes using AI to help refactor code with tools like GitHub Copilot, along with eBay's own internal AI Hub, that add velocity to our product development lifecycle. The goal is to <a target="_blank" href="https://www.businessinsider.com/banks-must-focus-on-customer-engagement-2022-8">get new innovations to customers faster</a>, and we're finding AI tools make our developers stronger and free up their time to be creative and try new things.We expect AI investments to impact nearly every aspect of our organization, driving efficiency, collaboration, and productivity improvements. We're really excited about the opportunity for AI advancements to increase the pace of innovation on behalf of our customers.<h2>eBay is optimizing its workplace after laying off 9% of employees this year</h2>Our results demonstrate that our strategy is the right one, but we knew we needed to better organize our teams for speed of execution, allowing us to be more nimble and make decisions quicker. We <a target="_blank" href="https://www.businessinsider.com/ebay-layoffs-impact-1000-workers-ceo-memo-2024-1">simplified our structure</a> as a part of this process to better position eBay for long-term, sustainable growth.One way our teams measure productivity now is by asking this question: Am I making every minute matter? This prompts discussions around how teams spend their time — for example, stopping or deprioritizing lower-value activities, bringing like work together to drive faster decisions, limiting time spent in long "inform" meetings that don't generate immediate results, and dedicating more time to collaborative huddles that result in outcomes.Most importantly, eBay exists to <a target="_blank" href="https://www.businessinsider.com/how-to-foster-customer-brand-loyalty-small-business-2020-9">connect people and build communities</a>. This purpose — to create economic opportunity for all — is deeply embedded in our DNA. In the same way, we understand the value of satisfied customers. We also know that happy employees are more productive employees.Our leaders must continue to provide an environment to do meaningful work that has a positive impact on the world. It's what motivates our team members and leads to an employee culture of finding ways to give back. We take this responsibility very seriously because millions of sellers count on eBay to make them more productive. They have built businesses on eBay and rely on us to pursue their entrepreneurial dreams.

As the CEO of eBay, I keep employees productive by asking this simple question about our work

<ul class="summary-list"><li>A <keyword id="12052709" type="UNKNOWN" weightage="60" keywordseo="charity" source="Orion">charity</keyword> <keyword id="12012764" type="UNKNOWN" weightage="60" keywordseo="auction" source="Orion">auction</keyword> bidder paid $19 million to have lunch with <keyword id="11915967" type="UNKNOWN" weightage="60" keywordseo="warren-buffett" source="Orion">Warren Buffett</keyword> in New York.</li><li>It is almost quadruple the record of $4.5 million set by crypto investor Justin Sun in 2019.</li></ul>A steak lunch with Warren Buffet has sold for a record $19 million in a charity auction.The annual auction to benefit homeless charity Glide <a href="https://www.ebay.com/itm/294987534521">fetched a record bid</a> of $19,000,100 from a bidder who chose to remain anonymous.The winner, who defeated 43 other bidders who started at $25,000 last Sunday, will join the legendary investor at a private lunch with up to seven guests at <keyword id="14230228" type="UNKNOWN" weightage="60" keywordseo="smith-wollensky" source="Orion">Smith &amp; Wollensky</keyword> steakhouse in New York City, according to a <a href="https://www.ebayinc.com/stories/news/glide-ebay-and-warren-buffett-celebrate-the-grand-finale-power-of-one-charity-auction-lunch-with-record-breaking-winning-bid/">statement released by eBay, which held the auction</a>.The organisers vetted prospective bidders before the auction to ensure they could pay if they won.The Berkshire Hathaway CEO, who turns 92 in August, has held the lunch since 2000, which has now raised $53 million for charity. However, it is the last auction in which he will participate, which may have resulted in the record bid. The last time it was held, in pre-pandemic 2019, cryptocurrency entrepreneur Justin Sun won with a <a href="https://www.ebayinc.com/stories/news/glides-20thannual-ebay-for-charity-power-lunch-with-warren-buffett-sold-for-a-record-breaking-4-567-888/">then-record bid of $4.5 million</a>.Buffett said the lunches have been "nothing but good. I've met a lot of interesting people from all over the world. The one universal characteristic is that they feel the money is going to be put to very good uses."eBay CEO Jamie Iannone <a href="https://www.ebayinc.com/stories/news/glide-ebay-and-warren-buffett-celebrate-the-grand-finale-power-of-one-charity-auction-lunch-with-record-breaking-winning-bid/">said:</a> "We are incredibly proud that Warren Buffett's final Power Lunch has broken our all-time record of funds raised, with all proceeds supporting Glide's efforts to create pathways out of crisis and transform lives." In 2018, Smith &amp; Wollensky Steakhouse founder Alan Stillman <a href="https://www.youtube.com/watch?v=zB5dGJkoKyM">told Insider</a> he spent a year trying to get Buffett's number to offer him his restaurant for the meal.After he finally reached him, Stillman said: "It took him about, maybe five seconds to say, 'you Mr. Stillman, have a deal'." Buffett orders steak, "but always with a Diet Coke," he added.<a href="https://givingpledge.org/pledger?pledgerId=177">Buffett has pledged</a> to donate 99% of his wealth to charity during his lifetime or after his death. This week, he donated 14 million Berkshire Hathaway shares worth $4 billion to charity, <a href="https://www.berkshirehathaway.com/news/jun1422.pdf">according to a press release</a>, as part of his annual pledge. Buffett's $93 billion net worth makes him the world's eighth-richest person, according to the <a href="https://www.bloomberg.com/billionaires/profiles/warren-e-buffett/#:~:text=%23%208%20Warren%20Buffett%20%2493.3B">Bloomberg Billionaires' Index</a>. His net worth has fallen nearly $13 billion in the last week, partly due to this week's donation.

Mystery bidder pays record $19 million in charity auction for lunch with Warren Buffett

<ul class="summary-list"><li><keyword id="6357395" type="UNKNOWN" weightage="60" keywordseo="eBay">eBay</keyword> is entering the <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword> market and will allow the sale of digital <keyword id="909478" type="PERSON" weightage="60" keywordseo="collectibles">collectibles</keyword> on its platform, Reuters reported Tuesday. </li><li>The online ecommerce site said it will rollout tools and policies for users wanting to buy and sell NFT items. </li></ul><a href="https://markets.businessinsider.com/stocks/ebay-stock">EBay</a> is tapping into the growing NFT market by allowing the sale of digital collectibles on its site, according to a <a href="https://www.reuters.com/business/retail-consumer/ebay-taps-into-nft-frenzy-allows-sale-platform-2021-05-11/">Reuters report on Tuesday</a>.NFTs - digital representations of artworks and collectibles that exist on a blockchain ledger - have surged in popularity in 2021, highlighted in part by the <a href="https://www.businessinsider.com/beeple-response-to-nft-selling-for-69-million-reaction-video-2021-3">$69 million sale</a> by famed auction house Christie's of a digital collage by Mike Winkelmann, an artist known as Beeple. <keyword id="6932081" type="UNKNOWN" weightage="60" keywordseo="ebay-sellers">EBay sellers</keyword> who meet the online marketplace's standards will be provided with NFT inventory, the company told Reuters. It said its users can expect to see tools, programs and policies that will allow them to buy and sell NFTs, or non-fungible tokens, across a broad range of categories."In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform," Jordan Sweetnam, general manager for eBay's North America market, told Reuters.EBay's CEO Jamie Iannone told CNBC last week the company was looking into <a href="https://www.cnbc.com/video/2021/05/03/ebay-ceo-jamie-iannone-on-expansion-into-new-categories.html">cryptocurrencies as an option for payments</a> for its site. NFTs are usually bought with <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>, the <a href="https://markets.businessinsider.com/currencies/news/bitcoin-vs-ethereum-experts-which-asset-rather-hold-btc-eth-2021-5-1030405530">token native to the Ethereum blockchain platform,</a> or in dollars, and the blockchain holds a record of transactions, Reuters noted.

eBay will allow NFT sales on its platform as it taps into the growing market for digital collectibles, report says

<div class="KonaFilter image-container display-table"><div><div class="image on-image">APSam's Club is opening a new kind of store.</div></div></div><ul><li><a href="http://www.businessinsider.com/category/walmart">Walmart</a>-owned <a href="http://www.businessinsider.com/category/sams-club">Sam's Club</a> is opening a store that carries mainly fresh food and grab-and-go meals. </li><li>The store, which has not yet been named, will serve as a testing ground for new technology such as self-service returns, digital price tags, and cashierless checkout through <a href="http://www.businessinsider.com/walmart-lets-shoppers-check-out-without-cashiers-at-more-stores-2018-1">Scan &amp; Go</a>.</li><li>The store, opening in Dallas in the fall, will be one-quarter the size of a regular Sam's Club.</li></ul> <a href="http://markets.businessinsider.com/stocks/wmt-stock">Walmart</a>-owned Sam's Club is opening a new kind of store that's focused almost entirely on fresh food and grab-and-go meals.The name of the new concept is still in the works, but it will carry Sam's Club branding, and only Sam's Club members will be able to shop there, the company said.The store will be a testing ground for new technology, including self-service returns, digital price tags, and <a href="http://www.businessinsider.com/walmart-lets-shoppers-check-out-without-cashiers-at-more-stores-2018-1">Scan &amp; Go</a>, which lets shoppers check out using a smartphone. (Walmart recently <a href="http://www.businessinsider.com/walmart-abandons-scan-and-go-cashierless-checkout-2018-5">abandoned</a> a rollout of Scan &amp; Go in its stores, but the technology is still available in Sam's Club stores).It's opening in Dallas in the fall, and it will be about 32,000 square feet, or about one-quarter the size of a regular Sam's Club. The store will carry 1,000 to 2,000 items. By comparison, a regular Sam's Club carries about 6,000 items. "We'll lean heavily into grocery and fresh food items such as grab-and-go meals, the consumable items members buy most frequently, and services like fast, same-day Club Pickup and delivery options that will help busy families," Jamie Iannone, CEO of SamsClub.com, said in a <a href="https://corporate.samsclub.com/blog/2018/06/14/lower-greenville-club-to-focus-on-community-and-convenience">blog post</a>. "You can expect to see a new level of convenience at this facility, and the technologies we use will continue to evolve."The <a href="https://www.dallasnews.com/business/retail/2018/06/14/walmart-plans-lower-greenville-return-store-wouldnt-expect">Dallas Morning News</a> was the first to report on the new store. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/sneaky-ways-costco-buy-more-tricks-2018-5">Sneaky ways Costco gets you to buy more</a></h3> <div> </div> </div>

Sam's Club is opening a mysterious new tech-focused grocery store

<ul><li>The COVID-19 pandemic helped serve as a shot in the arm for <keyword id="436047" type="COMPANY" weightage="60" keywordseo="Ecommerce">ecommerce</keyword> growth in the US as consumers shifted to <keyword id="6357762" type="UNKNOWN" weightage="60" keywordseo="online-shopping">online shopping</keyword> to social distance and avoid crowded stores.</li><li>But as the pandemic wanes, consumers will transition back to offline shopping, resulting in a likely dip in ecommerce growth from its recent peak, Stifel said in a note on Wednesday.</li><li>In navigating the likely decline in online shopping growth going forward, investors should focus on ecommerce companies who are best positioned to navigate a recovery and enjoy a sustained benefit to their business from the pandemic.</li><li>Here are Stifel's 5 ecommerce <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> investors should watch going forward.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul>Ecommerce companies — and, by extension, their stock prices — have been major beneficiaries of the COVID-19 pandemic, as consumers have transitioned to online shopping in order to avoid large crowds and social distance.According to <a href="https://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf">data from the US Census Bureau,</a> ecommerce sales grew 45% in the second quarter, representing the largest quarterly increase since the fourth quarter of 2000. Meanwhile, online sales made up 22% of all <keyword id="87998" type="PERSON" weightage="60" keywordseo="Retail-sales">retail sales</keyword>, a sizable increase from 2019's ecommerce penetration rate of 16%.The pandemic effectively pulled forward two to three years of demand in a matter of six months, Stifel said, noting that it didn't expect ecommerce to hit the 22% penetration level until 2022 or 2023.But as the pandemic wanes, consumers will likely transition back to offline shopping, resulting in a dip in ecommerce growth from its recent peak, Stifel said in a note on Wednesday.Accordingly, investors should set their sights on ecommerce companies that are poised to navigate the likely dip in ecommerce growth and enjoy a sustained benefit from the pandemic.Detailed below are Stifel's five stock-market winners in the ecommerce sector investors should watch going forward.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-cheap-companies-strong-earnings-2021-jefferies-2020-9" target="_blank" rel="noopener">A Wall Street firm says investors should buy these 15 cheap, high-earning stocks now to beat the market in 2021 as more expensive companies fall behind</a><a href="https://markets.businessinsider.com/stocks/amzn-stock">1. Amazon</a>The accelerated growth of Amazon's Prime membership base, its ability to grow its grocery business, the "elimination of a substantial portion of offline retail competition," and the accelerated adoption of cloud services all set up the ecommerce giant to be best positioned to navigate a potential slow down in ecommerce growth, Stifel said."Under a recovery scenario, we see Amazon continuing to benefit from these developments," says Stifel.Stifel rates Amazon as a "Buy" with a $3,500 price target, representing potential upside of 11% from Tuesday's close.<a href="https://markets.businessinsider.com/stocks/ebay-stock">2. eBay</a>" We note (1) the addition of new CEO Jamie Iannone and more active management of the platform (2) improvements to the buyer/seller experience and (3) the revenue/operating income opportunity from managed payments may support stronger than anticipated growth," Stifel said, after observing that eBay is not immune to a slowdown in growth given it has seen a surge in business driven by strong sales in work and learn from home categories.Additionally, eBay's current valuation "potentially limits downside in shares," the note said. eBay traded at a forward twelve month price to earnings ratio of 13.3x, according to data YCharts.com.Stifel rates eBay as a "Buy" with a $70 price target, representing potential upside of 35% from Tuesday's close.Read more: <a href="https://www.businessinsider.com/options-trading-strategy-market-wizards-schwager-tony-saliba-shares-advice-2020-9?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Legendary options trader Tony Saliba famously put together 70 straight months of profits greater than $100,000. Here's an inside look at the strategy that propelled him to millionaire status before age 25.</a><a href="https://markets.businessinsider.com/stocks/cvna-stock">3. Carvana</a> &amp; <a href="https://markets.businessinsider.com/stocks/vrm-stock">4. Vroom</a>Used car sales is the largest consumer product category in the US and one of the last industries to migrate to ecommerce, with online sales representing less than 1.0% of used car sales, according to Stifel. Accordingly, the firm sees potential in online used car retailers like Carvana and Vroom to continue to benefit from the COVID-19 pandemic."The pandemic has sparked consumer awareness and interest in online car sales potentially accelerating eCommerce adoption," Stifel said. Meanwhile, the limited supply of new cars due to temporary production halts amid the pandemic should serve as a healthy demand boost for used cars, benefiting the two online platforms.Another factor benefiting the space is the potential for increase car ownership as consumers trade in the city for the suburbs and avoid public transportation, according to the note.Stifel rates Carvana as a "Buy" with a $195 price target, representing potential upside of 13% from Tuesday's close. Stifel rates Vroom as a "Buy" with a $65 price target, representing potential upside of 22% from Tuesday's close.<a href="https://markets.businessinsider.com/stocks/etsy-stock">5. Etsy</a>As Etsy has directly benefited from the sale of masks to prevent the spread of COVID-19, it also has experienced a surge in growth outside of the mask category, with gross merchandise volume surging 93% ex-masks in the second quarter, Stifel said."Etsy has driven greater awareness through the pandemic and has realized the opportunity to accelerate purchase frequency on the platform," Stifel noted. Additionally, the Etsy has experienced "frequency among buyers improve across all cohorts," the note said."We believe Etsy has the opportunity to elevate its long-term growth profile through product enhancements and retention of new and re-engaged buyers on the platform," Stifel concluded.Stifel rates Etsy as a "Buy" with a $150 price target, representing potential upside of 35% from Tuesday's close.Read more: <a href="https://www.businessinsider.com/stocks-to-buy-6-cyclicals-gains-economy-recovers-mike-wilson-2020-9?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">MORGAN STANLEY: Buy these 6 stocks poised for gains as the economic recovery continues and Congress mulls more coronavirus stimulus</a>

These are the stock market's 5 ecommerce winners of the COVID-19 pandemic, according to one Wall Street firm

<div class="KonaFilter image-container display-table"><div><div class="image on-image">NRFWalmart CTO Jeremy King at NRF's Big Show.</div></div></div><ul class="summary-list"><li>In 2017 and 2018, <a href="https://www.businessinsider.com/category/walmart">Walmart</a> pilot tested a <a href="https://www.businessinsider.com/walmart-abandons-scan-and-go-cashierless-checkout-2018-5">program called "Scan &amp; Go"</a> in 125 stores. The program let customers use a smartphone or handheld device to check out items without going to a cashier.</li><li>The program expanded in January 2018 but ended in April, with <a href="https://markets.businessinsider.com/stocks/wmt-stock">Walmart</a> citing lack of customer adoption.</li><li>Speaking at the National <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">Retail</keyword> Federation's annual Big Show conference on Sunday, Walmart CTO Jeremy King revealed the company decided to pull the plug on the program due to it being error-prone and difficult to scale.</li><li>King also expressed interest in computer vision as the technology matures "in a few years."</li></ul>NEW YORK CITY - A year ago, in January 2018, Walmart expanded its Scan &amp; Go program to 125 stores, calling it a new way to shop with just your phone or a handheld device, and no interacting with cashiers.By April, that program had all but wrapped up. At the time, <a href="https://www.businessinsider.com/walmart-abandons-scan-and-go-cashierless-checkout-2018-5">a Walmart spokesperson told Business Insider</a> that its ending was due to "low participation" from customers, who found the program difficult to use.Read more: <a href="https://www.businessinsider.com/walmart-abandons-scan-and-go-cashierless-checkout-2018-5">Walmart just abandoned cashierless checkout, and it reveals a huge challenge in its battle with Amazon</a>Walmart executive vice president and CTO Jeremy King, speaking at the National Retail Federation's Big Show conference on Sunday, revealed a few more reasons the company decided to pull the plug on the program."We found too many errors in the process ... making sure people were scanning things right, multiple quantities, that sort of thing," King said on stage in conversation with the Wall Street Journal's Sara Castellanos.<div class="KonaFilter image-container display-table"><div><div class="image on-image">WalmartHandheld devices used in Walmart's Scan &amp; Go test.</div></div></div>Scan &amp; Go is not completely gone from Walmart. It is still in effect at Walmart's nearly 600 Sam's Club stores, where it was implemented more than two years ago. But at Walmart's more than 5,000 locations in the US, the errors were not tenable, King said."At Walmart's scale, you test in 10 stores and see how it goes," King said. "If it's going to be really hard to implement across the board then we usually wait until the technology's better."King is predicting that that better - or different - technology is coming soon, however. On stage, King listed computer vision - technology that can use cameras and sensors to "see" and understand like a human - as one example of tech he is excited about for 2019.Computer vision is a natural fit for retail, where it would be able to replace a program like Scan &amp; Go with a more intuitive method that could include technology that automatically tracks customers and what they're buying, charging them appropriately."Computer vision can be a hard thing right now, especially for small items," he said. "It's getting better and better, but I see that improving the next couple of years."King stopped short of declaring a computer-vision pilot for Walmart, but added that he is "really excited" about its potential.A similar method has already been implemented by Amazon, which is aggressively expanding its own cashierless prepared-food-and-convenience-store concept called Amazon Go. The chain could have up to 3,000 stores in just a few years, <a href="https://www.businessinsider.com/report-amazon-wants-3000-amazon-go-stores-by-2021-2018-9">according to a recent report.</a><div class="KonaFilter image-container display-table"><div><div class="image on-image">WalmartA shopper using Walmart's now-shuttered Scan &amp; Go tech.</div></div></div>The stars seem to be aligning for computer vision at Walmart, too. The company's tech division is currently hiring for a "Principal Data Scientist / COMPUTER VISION Engineer," according <a href="https://careers.walmart.com/us/jobs/1178167BR-principal-data-scientist-computer-vision-engineer-plano-tx">to a job listing</a> that went up in October."Walmart Technology is looking for exceptional research engineers to join our team focused on delivering computer vision-enabled capabilities that can increase revenue, reduce costs and drive a differentiated brand experience that serve 200 [million plus] customers a week," the listing reads.The job will be based in Walmart's new Dallas-based innovation center focused on computer vision and machine learning, which Walmart's VP of tech modernization, Chris Enslin, <a href="https://venturebeat.com/2018/03/06/walmart-plans-to-open-a-computer-vision-and-machine-learning-office-in-dallas-on-april-5/">announced at VentureBeat's Blueprint conference in March</a>.In October, <a href="https://www.businessinsider.com/sams-club-now-store-opens-with-no-cashiers-or-registers-2018-10">Walmart opened a Sam's Club "store of the future" called Sam's Club Now</a> and featuring no cashiers, forcing customers to use the Sam's Club Now app and the Scan &amp; Go functionality.The store is intended to be used as a playground to test new tech like "computer vision, AR, machine learning, artificial intelligence, [and] robotics," Jamie Iannone, Samclub.com's CEO and executive VP of membership and technology, <a href="https://corporate.samsclub.com/blog/2018/10/29/sams-club-now-reimagining-the-future-of-retail">said in a statement at the time</a>.<a href="https://www.businessinsider.com/intelligence/future-of-retail-ai?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=ecommerce_ctgr_leadgen&amp;utm_campaign=ecommerce_ctgr_leadgen_future-of-retail-ai"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/disney-world-expensive-middle-class-2018-12">Disney World is getting so expensive that it's pricing out the middle class</a></h3> <div> </div> </div>

You Searched For "jamie iannone" and got 8 results

E-commerce giant eBay to layoff 500 employees

IANS

eBay is laying off 1,000 employees about 9% of its workforce. Read the memo its CEO sent to staff.

Jyoti Mann

As the CEO of eBay, I keep employees productive by asking this simple question about our work

Madeline Stone

Mystery bidder pays record $19 million in charity auction for lunch with Warren Buffett

Ryan Hogg

eBay will allow NFT sales on its platform as it taps into the growing market for digital collectibles, report says

Carla Mozée

Sam's Club is opening a mysterious new tech-focused grocery store

Hayley Peterson

These are the stock market's 5 ecommerce winners of the COVID-19 pandemic, according to one Wall Street firm

Matthew Fox

Walmart exec reveals why it canceled its Amazon Go-like cashierless program in stores - and what the company is working on instead

Dennis Green

Popular Keywords

Buying Guides