New payment system, the e-comm metaverse, new digital marketing policies and more .............................................................................................. .......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Yes, we're here once again--every Friday. But we've been busy beavers here this week, and that's why we've got a lot of great news to share! This week we’re discussing:
The e-commerce metaverse is projected to increase by USD 60.47 billion worldwide between 2021 and 2026.
New E-commerce payment system is attempting to fill the void left by traditional legacy e-commerce payment systems
TikTok has launched Follow Me, a six-week educational program for small and medium-sized businesses
Despite Amazon's 'Prime Day' bargain sale, U.S. consumers are spending less money online than they were last year.
Top Retail and E-commerce Stories
Don't Get Left Behind: Enter the E-Commerce Metaverse
The e-commerce metaverse is coming, are you ready? No, we're not talking about the OASIS from Ready Player One--though that would be pretty cool. Between 2021-2026, the worldwide metaverse e-commerce sector is anticipated to expand by USD 60.47 billion over the next six years, with a CAGR of 36.47%, according to Technavio's most recent market research.
North America will account for 38% of overall market growth during the forecast period. In terms of e-commerce, the US is the most important market for metaverse in North America.
The growing popularity of AR technology is one of the driving forces behind metaverse development in e-commerce. Consumers can be confident in a product's quality and fit before buying it due to the increasing popularity of AR technology.
Customers benefit from the convenience of online ordering, but it also benefits merchants in terms of lowered returns and a wider client base.
Payment Without Borders: The Future of Marketplace Payments
Your gateway to the new era of e-commerce. A new e-commerce payment system is attempting to fill the void left by traditional legacy systems that can no longer keep up with the demands of modern marketplaces.
Recently Evvio announced the introduction of Fluid Commerce, an e-commerce transactions platform that eliminates the need for credit cards, bank accounts, and third-party processors. The patented technology works across a variety of e-commerce networks, including the metaverse, game ecosystems, sharing economy platforms, and super apps. However, digital payments are not just for cryptocurrency; you may also use alternative currencies such as fiat, tokens, and rewards. The technology also includes patented verified metered services to fight against fraud.
Hit Follow: TikTok Releases "Follow Me" for Online Sellers
Become a TikTok expert in 6 weeks!TikTok announced the launch of Follow Me, a six-week educational program for small and medium-sized businesses. The initiative is designed to help businesses take advantage of the app's growing popularity and reach new audiences.
The program will include weekly live sessions with industry experts, tips on using TikTok's various features, and access to exclusive resources. The guide will walk you through creating a business account, utilizing the Creative Center to generate content ideas, and learning how to use the app's advertising features and techniques for launching TikTok campaigns.
The Amazon Corner
A Bust?: Is Amazon's Prime Day Sale Slowing Down?
The Grinch (aka inflation) who stole Amazon Prime Day? DespiteAmazon's 'Prime Day' bargain sale, U.S. consumers are spending less money online than they were last year. The e-commerce giant offered deep discounts on a range of products over a two-day period in mid-July, but it appears that many shoppers held back on their spending.
According to RetailMeNot Inc., Americans are anticipated to spend less money this year than they did in 2021, amid inflation. The survey found that customers plan to spend an average of $388 during the 48-hour sales event, an amount lower than the average expenditure of $595 in previous years. The site interviewed over 1,000 consumers.
Sephora is upgrading its buy online, pickup in-store systems
FUN FACT
Shopping apps are in the 9th position for Android users and 5th for iOS users.
QUICK TIP
Try this. Try shoppable videos to increase conversion rates. Shoppable videos are becoming increasingly popular among online retailers as a way to increase conversion rates. The videos allow viewers to purchase products directly from the video itself, without having to leave the page or even the site.
TWEET TWEET
“There’s nothing wrong with staying small. You can do big things with a small team.” — Jason Fried
On this 41st episode of The E-Comm Show, our host and BlueTuskr CEO Andrew Maff is with Ben Jabbawy of Privy, the leading all-in-one messaging platform for small and mid-size Shopify brands. For over a decade, Ben has mastered the marketing funnel from emails to SMS and pop-ups and in 2021, Privy was finally acquired by Attentive.
In this episode, Ben shares his expertise in building an effective email and SMS funnel, optimizing every touchpoint in the buyer’s journey, and setting your brand apart from competitors.
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