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.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
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