We’re all curious to know! Was it a success, or did consumers choose more low-key options? Let’s take a look at some of the big stories from this week in retail and e-commerce.
U.S. retail sales experience their most substantial upturn in almost two years.
Microsoft redefined the search engine and web browser landscape with its revolutionary release of new versions of Bing and Edge that are powered by artificial intelligence.
Retailers, it’s time to get phygital! Combining essential elements of both physical and digital shopping experiences is crucial for success in today's competitive landscape.
Livestream shopping has become a sensation in China, and now Amazon, TikTok, and YouTube all believe the QVC-style presentations will be equally successful in the US.
Top Retail and E-commerce Stories
The Retail Comeback Story: America's Retail Sector is Booming
Following Tuesday's announcement of heightened inflation in January, evidence of robust consumer spending may drive financial markets to anticipate that the Federal Reserve could raise interest rates through summertime in order to curb domestic demand.
The Commerce Department announced that retail sales skyrocketed 3.0% in January; the robust increase marks its highest surge since March 2021 and follows a 1.1% decrease reported in December.
Experts surveyed by Reuters had predicted that retail sales would rise 1.8%, ranging from 0.5% to 3%. In January, they experienced an impressive 6.4% year-on-year surge in sales numbers - however, some urged not to interpret the monthly increase too much into it.
The new versions of both browsers bring an entirely new level of functionality currently available for preview on Bing.com: it combines browsing and chat into a single user experience that enhances both tasks. For instance, when searching it will show more relevant results; this includes sports scores, stock prices, or even weather forecasts - right at your fingertips without ever leaving the search page.
Bing is a powerful search engine that can offer answers to even the most difficult queries, such as “what can I substitute for eggs when baking a cake” by synthesizing information from various online sources and providing users with concise summaries. Moreover, searchers are able to communicate directly with Bing in order to refine their searches further and generate useful content like travel plans or trivia game questions.
The Edge browser has recently undergone a sleek makeover and now contains powerful AI-driven features. Now you can chat with the browser to get summaries of lengthy reports in just a few seconds or create custom LinkedIn posts quickly with only minimal input.
The best of both worlds? With the increased popularity of e-commerce, it’s clear that physical retail stores need to keep up with the times.Companies are turning to “phygital” strategiesin order to combine essential elements of both physical and digital shopping experiences.
By doing so, retailers can offer better customer experiences through a seamless combination of offline and online elements. There is no denying that modern shoppers rely on their mobile devices while shopping in-store; however, research also reveals that they still expect the same convenience of online retailing. Market studies illustrate that 80% of consumers utilize their mobile phones while shopping in physical stores to research product reviews, compare prices, and locate other store locations.
By adapting to customers' rapidly evolving preferences, retailers can leverage the full potential of smartphones in order to provide a unique and personalized shopping experience. Moreover, such an approach permits them to gather more insightful data for better decision-making regarding their product offerings.
Amazon Live offers content creators the opportunity to showcase products live in a familiar and comfortable atmosphere. Audiences can instantly show their engagement by reacting with emojis or stars, while simultaneously posting relevant questions that will be immediately answered by the host. Furthermore, each product is equipped with an embedded link for easy purchasing of the item being presented.
For Amazon Live creators, the biggest source of income is from commission - typically around 10% for click-throughs during live streams. Some categories may offer up to 20%. Additionally, you can make a flat fee by going live regularly and top-performing creators have access to sponsored live streams with brands that pay extra.
We've been talking about affiliate marketing and the power of these influencers in bumping up sales on social commerce. So, for you, e-comm sellers, have you tried or considered subscribing to an affiliate management platform? We'll post the results next week so stay tuned!
QUICK TIP
Try this.Take advantage of a specialized software for affiliate marketing. Affiliate management platforms enable you to maximize your campaigns through efficient tracking and growth optimization, helping increase traffic and revenue significantly.
FUN FACT
Research from Flow.io shows that an overwhelming majority of English-speaking consumers avoid buying products or services on websites not translated into English.
LISTEN UP
On this 72nd episode of The E-Comm Show, our host, and BlueTuskr CEO Andrew Maff is with Joline Nehoray of Beverly Hills Lingerie, a streetwear lingerie brand located in the heart of Los Angeles. Jolene and her sister Celine, co-founded a successful and very niched brand in a highly saturated market using word-of-mouth marketing, social networking, and pop-up events to scale their business without heavily relying on paid advertising.
Learn more about how these two sisters and cofounders made themselves their own target audience and showcased themselves as the brand story.
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