James Carville famously told Clinton campaign workers in 1992, “It’s the economy, stupid,” and that mantra dominated again 30 years later, as high inflation and recession fears dogged the retail industry this year, leading to massive discounting to drive sales, often at the expense of profits.
Amazon is launching a TikTok-like feature called Inspire that lets users scroll through short-form videos and hopefully buy stuff from brands, but industry observers don’t seem too inspired by the company’s latest venture into social commerce, an area that hasn’t really exploded. It’s the latest in a decade of social commerce experiments.
Metaverse solutions cut across verticals, from healthcare to fashion to manufacturing, but it’s still in its infancy. Think of it like the internet of 1994, when you used Netscape and a dial-up handshake to navigate the web. As businesses step into the metaverse, this is the right time to experiment with using it as a service.
NFTs are currently the hottest thing in tech, and many ecommerce businesses are incorporating them into their business strategies. When we consider the staggering amounts some of them have demanded, this should come as absolutely no surprise. Are NFTs really the future of ecommerce? Read on to find out more.
Domestic e-grocery sales continued to fall from pandemic-fueled highs, decreasing 10% in November to $7.7 billion, down slightly from $7.8 billion the two prior months, according to Brick Meets Click/Mercatus. Fewer households are buying groceries online, combined with lower order frequency and smaller basket sizes among regular shoppers.
Is your login box a welcoming touchpoint or a chokepoint? Obviously, technology has reshaped how we interact with each other. But the importance of being welcoming and hospitable remains true in your online environment. Here’s how to make your login box and the entire experience more like an ambassador and less like a bouncer.
The CEOs of Nordstrom and Walmart both spoke this week of continuing concern over inflation affecting shoppers heading into the back half of the 2022 holiday season, as credit cards are maxed out and kitchen table budget meetings weigh using funds for gifts vs. essentials, causing retail jitters.
While Amazon is the clear market leader in ecommerce sales, at $50.9 billion to $19.2 billion, arch-rival Walmart has been gaining in some respects in their ongoing retail industry cage match. Jungle Scout has developed a helpful infographic that details some key comparison metrics between the two behemoths. (image credit: Wharton/UPenn)
While not ideal, ecommerce returns are an inevitable part of business. But your job is to see them as an opportunity to turn problems into positive brand experiences. And the gains from retaining a customer for life far outweigh the cost of a single refund. See them as not just an expense, but as opportunities for positive customer experiences.
As did Black Friday, Cyber Monday set a record of $11.3 billion in online spending, per Adobe Analytics, up 5.8% from the first-ever down year of 2021, once again driven by heavy discounting to spur demand in an inflationary period. At the peak of 8 a.m. to 9 a.m. PST, consumers were spending at a clip of $12.8 million every minute, Adobe reported.