Front & Center
Kings vs. Pirates – The Battle for European E-commerce
Epic much? As we reported back in February, dirty porch pirates have been running rampant during this e-commerce boom, with 43% of Americans reported having a package stolen, and two-thirds of those victims say they’ve had packages stolen more than once.
In Europe however, these theft figures are much lower because carriers do not leave parcels unattended on stoops, and mostly require parcel recipients to sign for packages at the door. GASP! And what’s more, if they miss their expected delivery, they must go all the way to the post office to retrieve their item. DOUBLE GASP!
So finding this delicate balance between security and convenience in Europe has been an ongoing battle, until one brave man who would be king threw his hat into the ring. Enter: Poland’s Parcel King.
The Rise of Poland’s Parcel King
In a true rags to riches story, Rafal Brzoska has gone from near-bankruptcy to billionaire by not delivering packages to individual houses; rather, his company InPost sets up automated e-commerce lockers the size of refrigerators for convenient pickup. As the legend goes, one of these parcel storage units can do the work of 24 trucks, and Brzoska says: “That’s why lockers are the future.” So it will be done.
Because these storage lockers cost only ~$20,000 to install, InPost wants to put one within “slipper distance” of every home and office in Europe. Storage costs $2 per parcel, and makes pickup quick and easy for shoppers as an easy alternative to home delivery.
The Fight Rages On
Europe’s postal services, UPS, and Amazon all took a different approach in Europe, by recruiting convenience stores and bodegas to handle package pickups and returns. However, without specific infrastructure for parcel delivery, the pandemic-led ecommerce boom has crowded aisles and jammed up these corner stores. And don’t even get them started on product returns.
Who Will Reign Supreme?
In January 2021, InPost went public on Amsterdam’s stock exchange, valuing the business at $9.7 billion and giving the Parcel King a net worth of $1.1 billion. His business model has so far proven that lockers are a cheaper, greener alternative to fleets of last-mile delivery trucks. Let’s see if that model has any grounds in busy U.S. metropolitan areas.
Back of the Packet
Etsy Buys Depop
Etsy has announced a deal to acquire Depop, the seconhand fashion app that has been considered the “resale home for Gen Z consumers” since its founding in 2011. Etsy and Depop agreed to a $1.62 billion deal primarily consisting of cash. Let’s just hope the shoe fits.
No More Headaches
On Thursday, the FDA granted approval for migraine medication, Nurtec, the first drug to recieve such approval for both migraine treatment and prevention. Nurtec’s creator, the Connecticut-based pharmaceutical company Biohaven, hopes to “change the way the whole field treats migraines”, according to Biohaven CEO Vlad Coric.
A$AP’s Rocky Road
On June 1st and only on June 1st, A$AP Rocky served as the CEO of the “buy now, pay later” software company, Klarna, after announcing a new partnership with the Swedish company. During his day-long tenure as Chief Executive Officer, Rocky worked on curating exclusive content for the Klarna app, focusing on upscaling vintage fashion.
ALWAYS PROTECT THE GOODS
1 in 100 packages shipped annually by UPS or FedEx are reported as lost or damaged… that’s almost 8 million packages on the receiving end of some extra tough love. Learn how you can Avoid Damaged Goods And Customer Returns in our latest blog.
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Ecommerce shopping habits change with the seasons, so are you prepared to handle the new customer experience in Summer 2021? From mobile optimization to voice search, check out our latest blog to learn this summer’s customer experience trends.