If the coronavirus pandemic has produced any winners in the retail sector, digital merchants are among that number.
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The coronavirus outbreak has been cataclysmic for Western Europe's retail sector, as most stores selling nonessential goods were forced to close in March; gradual reopening began in May. We estimate that overall retail sales in the region will drop by 9.9% this year, to $3.776 trillion (€3.372 trillion).
By contrast, ecommerce sales are on the rise. The strict lockdown led many consumers in Germany to shop more online, or to buy goods like groceries and medicines digitally for the first time. We expect retail ecommerce sales to rise 16.2% this year, and total $92.33 billion (€82.46 billion), compared with $79.47 billion (€70.97 billion) in 2019.
In case you are keeping track:
Restricting Ecommerce Will Be Detrimental For Consumers
Traders associations across the country have had complaints against the burgeoning ecommerce industry
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The 2010s brought to India the ecommerce boom the western world had been experiencing for the previous decade.
With Indian entrepreneurs jumping at that opportunity and becoming household names at the same level as every neighbourhoods' favourite kirana store, ecommerce platforms like Flipkart , Jabong, Myntra etc. experienced something that only a few companies had ever done in this country's history. Unicorns were built and merged and sold, creating wealth for a select few entrepreneurs at a level and pace not experienced previously in this country.
Snapchat Debuts eCommerce Developer Tools | PYMNTS.com
Snap has rolled out a large array of new features for popular social media app Snapchat, including Snap Minis, which allow brands to offer new ways to connect on the app, and new augmented reality features, the company said on Thursday (June 11).
The popular social media app said Minis are "a new way for developers to bring their services inside Snapchat and empower new, social experiences." Users will be able to use apps like Headspace to meditate with friends, flashcards apps to study together, or utilize apps to buy event tickets, all easily integrated into Snapchat’s features, the company said.
Don't Advertise to Existing Customers, Says Serial Ecommerce Entrepreneur | Practical
Taylor Holiday runs three successful ecommerce businesses, a thriving ecommerce-focused ad agency, and an educational membership community for advertising matters. He’s developed definitive views on acquiring customers and ad performance, among other insights:
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Taylor Holiday: Our agency, Common Thread , is focused on helping folks grow their ecommerce business. We operate in the consumer-product ecommerce world, especially at the early stage of companies, from zero in annual revenue to about $30 million. Our work includes paid customer acquisition, conversion rate optimization, and creative production — anything to help businesses navigate that early stage.
Other things to check out:
COVID-19 Accelerated E-Commerce Growth '4 To 6 Years'
COVID-19 has massively accelerated the growth of e-commerce, according to an Adobe report released today. Total online spending in May hit $82.5 billion, up 77% year-over-year.
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Higher rates of e-commerce and BOPIS (buy online, pick up in-store) may be the new abnormal, Adobe data indicates.
"We are seeing signs that online purchasing trends formed during the pandemic may see permanent adoption," Taylor Schreiner, Director, Adobe Digital Insights, said in a statement. "While BOPIS was a niche delivery option pre-pandemic, it is fast becoming the delivery method of choice as consumers become more familiar with the ease, convenience and experience."
Graph Blockchain Provides Update on Launch of BluStem Ecommerce Wellness Platform
Toronto, Ontario--(Newsfile Corp. - June 12, 2020) - Graph Blockchain Inc. ( CSE: GBLC ) (" Graph " or the " Company ") today provided an update on the upcoming launch of its proprietary and wholly owned Wellness Marketplace platform, BluStem Ltd. ( www.BluStem.com ). As announced on May 25 th , 2020 , the Company anticipated to proceed with the launch of the BluStem platform during the first week of June.
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"Shopify follows a diligent vetting process for all businesses including the review of approval documentation from Health Canada and any other submitted paperwork to eliminate the risk of fraudulent sites. The unprecedented amount of applications has obviously caused a delay in this process which has left our application pending.
How the Coronavirus is Impacting Ecommerce & What it Means for Retail - Business 2 Community
As cases of Coronavirus rise worldwide, all retailers – ecommerce providers included – face an uncertain future. Consumers' behaviours in relation to COVID-19 have changed with many people confined to the home.
No wonder the latest metrics suggest online spending has grown – some pointing to an average weekly growth in ecommerce of over 50% compared to last year .
Stores may be reopening, but brands shouldn't put e-commerce back on the simmer | The Drum
Snapchat's debut into e-commerce was a carefully planned, augmented reality (AR) experience. The app first flexed its e-commerce muscle in 2018 in a partnership with Nike that saw it dish out exclusive codes to guests at the brand's post-NBA All Star game party. Those who scanned them were able to buy the Air Jordan III Tinker within the app. The shoe sold out in 23 minutes.
The partnership highlighted Snapchat's potential for hosting unique commerce experiences. Fast forward two years (and a global pandemic that has left people unable to visit the shops) and Snapchat is now deep into its e-commerce journey. Last week, the company announced the global rollout of its dynamic ads product. The tool lets brands automatically create ads in real-time based on their own product catalogue, then directs people to buy on advertisers' own platforms.
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