Mercari, a Japanese e-commerce company, is looking to expand the market for casual online sellers in the U.S. beyond Amazon and eBay.
"Selling has been a thing online for quite some time, but it's been quite hard for regular folks to sell online," Mercari U.S. CEO John Lagerling told Cheddar. "It's kind of hard to go on eBay and be a successful seller if you're a beginner."
Popular online marketplaces have become increasingly professionalized, he added, as more small and medium-sized businesses move online to expand their clientele. These vendors then accumulate thousands of reviews, raising the benchmark for getting customers.
With more than 45 million downloads, Mercari is making a play for more casual sellers.
"We wanted to level the playing field in a sense, compared to these platforms," Lagerling said.
This model has proven popular amid the economic downturn brought on by coronavirus. The company reported 183 percent year-over-year growth in the U.S.
While the U.S. branch is not yet profitable, gross merchandise value (GMV) has surpassed $100 million in recent months, which Lagerling said is in the range of where the company needs to be in if it chooses to prioritize profitability over investment.
Lagerling also touts the environmental benefits of a more robust resale market, noting that one-third of items are pre-owned but never used.
"Hand on heart, we all have these items that we've bought but ended up never using," he said.
The Biden administration proposed a cost drop for overdrawing bank accounts, which it says could particularly relieve Americans living paycheck to paycheck.
With thousands of layoffs in tech and beyond, how workers can keep their skills sharp, plus reasons to be hopeful when looking at the job market.
Taking a look at investment strategy as the new year gets into full swing.
Americans stepped up their spending in December more than expected, closing out the holiday season and the year on an upbeat tone. The Commerce Department said retail sales rose 0.6% in December compared with a November’s 0.3% increase.
A New York architect charged in a string of slayings known as the Gilgo Beach killings was accused in a 25-year-old Connecticut woman's death.
Uber purchased Drizly in a cash-and-stock deal for $1.1 billion in 2021. The drink delivery app will shut down in March, according to Uber.
After Donald Trump's victory at the Iowa caucus, Nikki Haley and DeSantis continue their campaigns as New Hampshire's primary looms.
Christine Short, VP of Research at Wall Street Horizon, shares insights on small and big banks earnings, a fresh round of layoffs in the tech world, and what to expect from upcoming rate decisions.
More executives are feeling better about the global economy. But a growing number don’t think their companies will survive the coming decade without a major overhaul because of pressure from climate change and technology like artificial intelligence.
The International Olympic Committee has signed the first beer brand in the 40-year history of a sponsorship program that earns billions of dollars for the organization and international sports.
