No group of companies have benefited more from the COVID-19 pandemic than e-commerce companies, and there may still be ground left to gain.
The sector experienced a massive surge in business amid the pandemic as consumers shifted to online shopping in order to limit physical trips to traditional retail stores. In the second quarter of 2020, online shopping surged 44% compared to the prior year and represented more than 20% of all retail sales, according to data from the department of commerce.
Not to change the topic here:
4 Ways E-Commerce Entrepreneurs Are Growing Their Businesses
Creativity makes you stand out from other brands in your space. So much of e-commerce success, especially specialty e-commerce, comes from effectively telling a story. Great e-commerce companies succeed because people like them enough to buy their products.
Price is hard to compete on, and it's one of the hardest things to consistently be the best at, especially as a small retailer. If you're not Amazon or Walmart the difference has to come from a compelling brand story, communicated in an entertaining and effective way.
PayPal releases a sentimental holiday spot as it rides the e-commerce wave | Ad Age
More consumers will be shopping digitally this holiday season, and PayPal will be ready for them. The payment platform recently began airing a spot that showcases how the brand can mesh with the new needs of shoppers as they continue to weather the changes brought on by the pandemic.
In the 60-second commercial, a dad uses PayPal to purchase all the things he needs to bring the famous Nutcracker ballet, a Christmas classic, to his dance-loving daughter at home. Online, he purchases lights, a movie-size screen and the Prince's costume for himself to host a surprise backyard performance. "However you celebrate, make it one to remember," text reads on the video.
Walmart adds 'pop-up' e-commerce distribution centers for the holidays | Retail Dive
"Our Multi-Channel Sourcing Engine (MCSE) scans the entirety of our fulfillment network in less than a second and will assign orders to these eDCs when it determines they offer the fastest and most efficient option to fulfill the order," wrote Venkatesan.
Venkatesan also credited improved pick times for popular SKUs and warehouse management technology for enabling e-commerce fulfillment from distribution centers.
The pop-up distribution centers are not meant to be permanent infrastructure for Walmart. Venkatesan said Walmart will have the ability to scale up and down with the demand the retailer is experiencing in its network.
Not to change the topic here:
China e-commerce creates pandemic opportunity for indie beauty
As China continues on its path of economic recovery from the pandemic, smaller U.S. beauty brands are turning to Alibaba's cross-border e-commerce to reach a Chinese audience.
Alibaba's 11.11 online shopping extravaganza ended with a total GMV of $74.1 billion for the time period of November 1 to 11. The time period reported marked a departure from previous years, when Alibaba would report sales for the 24 hours of November 11 — last year generated $38.4 billion. Imported brands played a big role, with the United States serving as the top country selling to China on Tmall, despite the ongoing trade war. The sales GMV of U.S.
Shopify Exchange Lets People Gift A Business | PYMNTS.com
Small business eCommerce platform Shopify's new marketplace connects businesses for sale with entrepreneurs and offers a feature to let people Gift A Business to an aspiring merchant, according to a report in Small Business Trends on Friday (Nov. 13).
Gift A Business encourages people to buy an established eCommerce shop as a gift for small-business-minded friends or family. Shopify's Exchange Marketplace portal is a digital bazaar that connects business sellers with up-and-coming entrepreneurs.
Boosting returns on e-commerce retargeting campaigns
To test this presumption, the researchers developed a conceptual framework of the double-edged effects of ECR ads and empirically support it with a multi-study multi-setting design. In Study 1, they find that customers who received an early ECR ad within 30 minutes to one hour are less likely to make a purchase compared to those who did not receive it.
"It is pivotal to scientifically gauge the causal impact of ECR ads. Firms should not rely on the absolute purchases as a measure of success, but rather adopt the relative purchase" adds Luo. "Without comparing the retargeting with the control, managers may mistakenly conclude that the early ECR is most effective."
How an Ecommerce-Insights Company Uses AI to Understand Customer Sentiment
Boaz Grinvald is the CEO at Revuze, a firm that helps businesses win their markets by mining unique insights from unstructured market opinions, both public and internal. Revuze performs sentiment analysis by personalizing the automated process to maximize accuracy and its success rate.
I recently spoke with Grinvald to discuss how brands can gain a unique insight into the minds of consumers by way of sentiment analysis.
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Sentiment analysis allows brands to understand where consumers stand on a wide range of things: brand, service, product or even a feature of a product or service.
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