1. Luxury Brand Net-a-Porter Steps into Resale Market: The project will ultimately cover all Net-a-Porter’s platforms, and marks the company’s first major effort at entering the resale sector, the report stated. Net-a-Porter will launch the service first, adding it to its other companies later next year. – Read More on PYMNTS
2. China’s Singles Day shopping event kicks off under specter of tech scrutiny and Xi’s “common prosperity.” Many of China’s online shopping companies have since jumped on the bandwagon, making Singles Day bigger than Black Friday and Cyber Monday in the U.S. combined. – Read More on CNBC
3. Web3 Is Going to Rewrite Your E-Commerce Strategy: There are many potential uses for NFTs in e-commerce stores, one of the most popular being the monetization of loyalty rewards programs, which typically give you points for every dollar you spend. – Read More on Inc.
4. Americans Are Not Into Facebook’s New Name — and Don’t Want to Enter the Metaverse, Either: Meta might be all in on it, but most consumers aren’t sold on the metaverse yet: 68 percent said that, based on what they know, they’re not interested in using Meta’s virtual and augmented reality project. – Read More on Morning Consult
5. Jenni Kayne Weighs IPO of High-End Brand Within Next 3 Years: “We are discussing an IPO in the next couple of years,” CEO Julia Hunter said in an interview alongside founder Jenni Kayne on Thursday. Company expects its revenue to surpass $100 million this year, and plans to open 10 stores in 2022. – Read More on Bloomberg