Not every ecommerce subscription plan is well designed. In fact, some can result in customer experience (CX) failures leading to dissatisfaction, churn and brand detractors. This in turn hits the bottom line, transforming a win-win into a lose-lose. Here are some tips to help boost loyalty by making your program more attractive.
Talk of consolidation in the overcrowded Amazon aggregator space has come to fruition, as Berlin-based SellerX is acquiring Elevate Brands of Austin, giving the new company a combined portfolio of 80 Amazon brands, 40,000 products and a $431 million run rate. It was the second such deal after Suma and D1 Brands tied up in late May.
Just under a quarter of monthly Amazon Prime subscribers (23%) dropped the service for some period of time in the past year, with 41% having it for six months or less, most likely dipping in and out as their needs or checkbook dictate, according to Consumer Intelligence Research Partners (CIRP) data.
UK startup Streetify hopes to gain traction with a two-year-old app that creates virtual versions of physical streets and stores, where retailers and brands can display offers, discounts and links, and hopefully drive traffic to physical stores as well. The company says there are 1 billion stores in virtual form, compared to 4.4 million sites for Shopify.
Not unlike Walmart, Qurate Retail Group has divested Zulily to focus on its core business. The once popular flash sale site, targeting young mothers with deals across brands and categories including apparel, home and garden and toys, was sold to Los Angeles-based investment firm Regent. It was purchased in 2013 for $2.4 billion.
Generative AI, better known by the OpenAI version called ChatGPT in Microsoft’s Bing search engine, is suddenly everywhere all at once, shaking up whole industries and offering to optimize pretty much every single business function and solve all your problems. But what’s it all about? Join our webinar on June 8 to find out.
Walmart saw 25% growth in Q1 ecommerce, as the beast of Bentonville outpaced expectations on the top and bottom line and raised its full-year guidance, three months after warning that the 2023 outlook was not a particularly good one based on consumer sentiment and macroeconomic signals. The company also addressed theft concerns while reporting strength in advertising and fulfillment services.
The ongoing economic uncertainty is creating several challenges for retailers, making consumers more frugal. To remain resilient through economic challenges and maximize sales, retailers must stay prepared to weather any anticipated slumps. This requires the ability to analyze trends and shoppers’ habits on a frequent basis, staying up to date while more accurately planning for the future.
Google is pulling out all the stops to incorporate generative AI across its ecosystem, in an effort to demonstrate to the world that the search giant is a leader and not a follower when it comes to the biggest disruptive technology to hit the business world in decades. A handful of new products announced at Google I/O enable a range of capabilities built on its Vertex AI generative engine.
Secondhand clothing has come a long way since the days of the community thrift store as quick-acting brands have positioned themselves to capture some of the $100B global recommerce market. … Continue Reading →