Alibaba set another Singles Day record this year on 11/11/19, recording $38.4 billion in gross merchandise value (GMV) during the 24-hour promotion created as a reverse spin on Valentine’s Day 10 years ago, up 25% from last year. By comparison, Adobe is forecasting $29 billion in total ecommerce sales for Cyber Weekend 2019.
Spending on ecommerce ads rose 115% in the third quarter compared to last year, and was up 51% over Q2, driven largely by Amazon, a seasonal surge for Prime Day and a strong back-to-school season. A new Q3 report from Marin Software also showed that mobile continues its dominance.
A poll from the American Catalog Mailers Association (ACMA) finds that 16 months later, the U.S. Supreme Court decision in South Dakota v. Wayfair is causing greater harm than anticipated to ecommerce, catalog and other merchants. Fifty-six percent of those polled said revenues had declined as a direct result of the decision.
Extend, a provider of extended warranty programs, has raised $16.4 million in new capital and acquired assets from Aon division Affinity Insurance Services as it looks to make warranty programs available beyond enterprise-scale retailers. The company said current clients have combined annual sales of more than $11.5 billion.
Consumers may still be pondering resolutions for 2017, but brands seeking to win or reinforce consumer loyalty have already put enhancing rewards programs at the top of to-do lists for the new year. Here are how several major retailers are enhancing their rewards programs.