Ep 39 This Week in Ecommerce: $100 Million Digital Media Wastage & Federal Budget 2024

Welcome to This Week in Ecommerce, your go-to podcast for the latest news and insights in the online retail world. In this episode, Mal Chia and Paul Waddy discuss the current state and future outlook of ecommerce covering groundbreaking news, strategic shifts, and policy impacts that every retailer should know about. 1. Netflix House Opening in 2025: Netflix is set to revolutionise the retail and entertainment landscape with the opening of Netflix House in 2025. Mal and Paul discuss the importance of leveraging intellectual property (IP) to create immersive physical experiences, akin to Disney theme parks. 2. A $100 Million Digital Media Wastage: Next&Co's recent report revealed staggering inefficiencies in digital media spend, with $100 million wasted in the last quarter alone. Astonishingly, 48% of this wastage was attributed to Meta platforms. 3. Walmart's Move Away from Self-Checkout: In a surprising turn, Walmart has decided to remove self-checkout machines from some of its stores in the US, citing higher theft rates and customer frustration. Mal and Paul examine the impact of this decision on customer experience and discuss whether other retailers, including those in Australia, might follow suit. 4. Federal Budget 2024: The federal budget was recently handed down, with mixed reactions from the retail sector. They discuss the key measures affecting retailers, from energy bill rebates to instant asset write-offs, and talk about whether these initiatives will truly benefit the industry amidst rising costs and lower consumer demand. If you found this episode helpful, please engage by following our podcast, dropping a comment, or sharing it with a friend. Your support means the world to us!