While we're hardly surprised to see Amazon score another win, this week's news also includes some intriguing new trends that may have a big impact on the future of E-commerce. Here are the top stories of the week:
Amazon’s Big Deal Days was the retail giant’s biggest fall sale yet, with hundreds of millions of products sold
In response to pressure from consumers, investors, and regulators, Amazon and other retailers are pushing suppliers to reduce emissions
Due to an array of factors, younger B2B buyers are more price-sensitive than their older counterparts
How To Edit An Existing Amazon Listing and Product Information
The Amazon Corner
A Smashing Success: Big Deal Days Was Amazon's Biggest Fall Sale Yet
We can't say we're surprised!According to both internal reports and analysis from market research firm Numerator, Amazon’s Prime Deal Days was its most successful fall sales event to date. Hundreds of millions of items were sold over the course of the two-day event, with the most popular categories being apparel, beauty products, home goods, and toys.
Notably, when compared to July's Prime Day sale, households spent less on average and purchased lower-priced items during Big Deal Days. Additionally, while this was positioned as a pre-holiday season sale, only about a quarter of shoppers said they purchased holiday items. Nonetheless, Amazon leadership says that the success of this sale represents a strong start to the 2023 holiday shopping season.
The Current Climate: Amazon and Others Ramp Up Pressure On Suppliers To Cut Emissions
The pressure is on!Starting next year, Amazon will require suppliers to share emissions data, set sustainability goals, and share progress reports in an effort to reduce the retail giant’s overall carbon footprint. This move — which is driven by the demands of consumers, investors, and regulators — is in keeping with similar efforts by other industry leaders like Microsoft, Walmart, Apple, and Salesforce.
Mandates like Amazon’s are likely to have a major impact on third-party sellers and suppliers, many of whom claim they don’t have the resources to meet tracking and reporting demands. For its part, Amazon says that providing suppliers with “products and tools to help them reach their goals” will be a priority moving forward.
Slow On the Draw: Younger B2B Buyers Aren't As Quick to Buy
Are we entering the age of caution? According to a report by market researchers at Forrester, B2B buyers are becoming more price-sensitive in 2023 when compared to previous years. Key factors driving this shift include inflation and budget constraints, but also generational differences. It’s believed that this is due in part to younger buyers having less decision-making experience/authority than their older counterparts. In fact, 13% of younger buyers cited "lack of internal consensus" as the reason for a stalled purchase, suggesting they rely more heavily on the approval of superiors than older buyers.
Try this. If you’re noticing an uptick in abandoned carts for certain products, consider adding product reviews to your cart pages. This final push can help instill confidence in hesitant buyers.
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Omnichanelling is becoming increasingly important for businesses to attract and retain customers. On this 106th episode of The E-Comm Show, Andrew Maff interviews Alicia Long from Nutr, a first-of-its-kind machine that makes plant-based milk from nuts and oats.
In this episode, Alicia will discuss the power of omnichannel, how to create a seamless omnichannel experience for customers, and how Nutr has transformed their business by going beyond the storefront. Don't miss this episode if you want to learn more about unlocking the power of omnichannel for your business!
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