As we head into the holiday season, retailers and e-commerce companies alike are gearing up for the holiday season and planning their strategies for the weeks and months ahead. Here are some of this week's key stories that you need to know about if you're an e-commerce company or retailer:
The commencement of holiday spending is already underway.
Selling on Amazon is crucial for small and medium-sized businesses (SMBs), although it may not always result in profitability.
Amazon unveils enhancements to Buy with Prime, bolstering its competitive edge.
The Ultimate Guide for E-commerce Sellers: How to Audit Your Ads Like a Pro
The Amazon Corner
'Talk About Essential: The Vitality of Selling on Amazon for SMBs
So, is Amazon actually helpful at all? COVID-19 has led to an increased reliance on Amazon's online marketplace for many SMBs, with Palouse Brand leveraging a hybrid shipping model using Fulfillment by Amazon and direct fulfillment to accommodate the surge in demand. While selling on Amazon may not always result in profitability, selling on Amazon provides customers with the assurance of one- to two-day free shipping for Prime Members, which is crucial for SMBs to remain competitive in the online marketplace. While shipping and digital marketing expenses may reduce the potential profits of online sales, it is crucial to establish a strong presence on these platforms in order to discover new customers.
A Leg Up: Amazon Boosts Buy with Prime to Stay Ahead in the Game
Amazon isn't stopping there...Amazon's move to update Buy with Prime allows them to gather data and maintain their market dominance in the face of competition from Shopify. They have enhanced their Buy with Prime tool by incorporating a shopping cart feature and customer service components.
The online marketplace has unveiled two exciting new features: Buy with Prime Assist and Buy with Prime Cart.
With Buy with Prime Assist, sellers can provide Amazon customer support at no extra cost. This service grants customers access to a chat feature where Amazon representatives are available to address inquiries about shipping, existing orders, and returns.
Prime Cart is a feature aimed at enhancing the off-site purchasing experience, bringing it closer to the seamless experience found on Amazon.com. Previously, Buy with Prime functioned similarly to Amazon's Buy Now feature, as mentioned by Peter Larsen, Amazon's Vice President of Buy with Prime and multi-channel fulfillment, in a blog post. Now, customers have the convenience of purchasing multiple items at once, just like using a traditional online cart.
'Tis the Season: The Holiday Spending Frenzy Begins!
It's time to buckle down and get ready for the biggest spending season of the year! Pura, a retailer specializing in fragrance products, is gearing up for the bustling holiday shopping season well in advance of Black Friday with its annual "Influencer Early Access" promotion.
According to a study conducted by LTK, a shopping app that connects influencers with brands, there has been a significant increase in the number of shoppers planning to begin their holiday shopping as early as September. The study reveals that 38% of shoppers have expressed their intention to start their holiday shopping early this year, representing a 25% surge compared to the previous year. On June 30, 2023, LTK conducted this holiday survey with 1,136 participants identified as Gen Z and Millennials.
The Ultimate Guide for E-commerce Sellers: How to Audit Your Ads Like a Pro
Are you an e-commerce seller seeking ways to optimize your digital marketing strategy? Conducting a thorough audit of your ads is crucial for a successful e-commerce business. By dedicating time to properly assess and analyze all aspects of your advertising campaigns, including platforms like Google Ads, Facebook Ads, and other online advertising platforms, you can ensure that every dollar spent is utilized efficiently and effectively. Learn more about the importance of auditing your ads and maximizing your advertising ROIhere.
We will also share valuable insights on how to revamp unsuccessful or underperforming campaigns, enabling them to achieve faster and more impactful results than ever before!
Try this. An optimized checkout design can increase conversion rates by up to 35%. Make sure your page is well-designed and offers easy navigation for customers. Additionally, providing a ‘guest checkout’ option will give customers the freedom to purchase without creating an account.
FUN FACT
Across various industries and niches, clothing (40%), tech (18%), and home décor & maintenance (16%) experience the highest rates of cart abandonments.
LISTEN UP
Building a successful social brand requires planning, hard work, and dedication. On this 102nd episode of The E-Comm Show, Andrew chats with Stephane Jean Baptiste, the co-founder and COO of Kreyòl Essence – a natural hair care and body care line made from sustainably sourced ingredients and rooted in Haiti’s culture.
In this episode, Stephane shares how they've built Kreyòl Essence from the ground up, their approach to growing a social brand, their Shark Tank experience, and what they’ve learned along the way. Don't miss this episode if you're looking for inspiration on building your own successful social brand!
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