Welcome to the latest edition of Easyship’s eCommerce and logistics news roundup!
This week, we’re examining the global fallout of ongoing trade wars, another Brexit delay and some new features revealed for Magento. Let’s jump right in!
Trade War Fallout Felt Around the Globe
U.S. President Donald Trump’s tariffs levied against China in 2018 have put the two economic powerhouses at odds since, though other countries have also been impacted. For example, the levying of steel and aluminum tariffs and uncertainty of a revamped North American Free Trade Agreement (NAFTA) have caused the economies of Mexico and Canada to slow as well in recent months.
The ongoing global trade tensions have also caused emerging economies, particularly in Africa, to push for more self-reliance.
Easyship’s Take: The news of the fallout from ongoing trade tensions around the world is unfortunate, though not entirely unexpected news.
Online merchants can navigate the global trade war by better tapping into their own domestic market for sales, paying attention to any new tariffs implemented, building the costs of increased tariffs into their products, avoiding selling products in the categories targeted by tariffs and, if fulfilling from China, consider fulfilling from Hong Kong instead to escape the impact of the U.S.-China trade war specifically.
Brexit Deadline Extended to January 2020
Brexit, another uncertainty in the global economy, has been pushed back yet again.
The European Union recently agreed to extend the Brexit deadline to January 31, 2020, allowing for additional negotiations between the EU and the UK. The deadline extension comes shortly after UK Prime Minister Boris Johnson clashed with Parliament about the specific details of a Brexit deal and timeline.
Easyship’s Take: The news is likely positive for online merchants who frequently sell to the United Kingdom and the European Union, though the exact specifics of a Brexit deal will have a great impact on eCommerce businesses.
Online merchants should heed close attention to the specifics of the Brexit plan as the new withdrawal date nears and take note of what it entails, as the economic impact of Brexit will impact online retailers around the world, especially those in Europe.
New Integrations and Features Revealed for Magento
Revealed at MagentoLive Europe 2019, Magento 2.3.3 will boast security and performance improvements as well as integrations with Adobe Stock, Microsoft cloud infrastructure and an Amazon sales channel for the United Kingdom. A new product recommendations feature, designed to generate personalized item recommendations for shoppers based on their past purchases, and AI-driven retail sales forecasting feature have also been announced.
“We’re now at an inflection point where companies of all sizes are perpetually challenged by soaring customer expectations to deliver amazing brand experiences. We’re committed to bringing Adobe’s enterprise-grade commerce capabilities to our SMB and mid-market customers to help them grow their business,” Adobe said in a statement.
Easyship’s Take: These upgrades are positive news for merchants using Magento.
The new product recommendations feature will likely make it easier to potentially boost sales with recommended items for shoppers and also gather more data on customer behavior, while the new sales forecasting tool can help merchants better plan for the future. The general performance and security enhancements should also hopefully make the eCommerce platform more secure and user-friendly for retailers and buyers alike.
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