Feels like the holidays have come early this year...
There
As sellers everywhere gear up for the holidays, insights suggest that this year is going to be one for the record books! Here are this week's biggest stories...
Amazon has rolled out passkey support, which offers a safer and more convenient alternative to traditional passwords.
Online retail growth outpaced brick-and-mortar sales in September, according to the U.S. Department of Commerce
Holiday spending is expected to return to pre-pandemic levels this year, according to Deloitte’s 2023 Holiday Retail Survey.
Shopify has announced a handful of changes to their platform — we’ve summarized some of the most important ones.
How to boost E-commerce sales with email campaigns.
The Amazon Corner
No Password? No Problem: Amazon Adds Passkey Support on Web and iPhone
Big news for the chronically forgetful! Amazon has rolled out passkey support on its website and iPhone app, which allows users to log in with Touch ID, Face ID, or PIN. Passkeys are considered a safer and more convenient alternative to traditional passwords, which are vulnerable to security breaches and malicious phishing. Because passkey data resides locally on a given device, it's more difficult to steal and misuse.
Of course, the timing makes sense: with the holidays around the corner, this extra layer of convenience will no doubt make it easier than ever for customers to click the “buy" button. If you’d like to set up passkey access on your account, simply log in, choose Login & Security from the settings menu, and add your key.
Logging In, Checking Out: Online Retail Growth Outpaces Brick-and-Mortar in September
In the "Add to Cart" era: According to data released by the U.S. Department of Commerce, “nonstore” sales (which occur largely online) rose at more than double the rate of in-store sales last month: 6.2% versus 2.8%. Market research firm Insider Intelligence predicts that this uptick will continue into the holidays, projecting an 11.3% increase for E-commerce versus a 3% increase for traditional retail. While “nonstore” sales also include purchases made via catalogs, call centers, and door-to-door, this trend bodes well for E-commerce sellers and supports the theory that customers increasingly prefer to spend their money online.
While this trend is encouraging for E-commerce businesses, some analysts are cautioning against misplaced optimism in the run-up to this year's holiday season, citing diminished consumer confidence and global economic uncertainty. Nonetheless, the numbers suggest that 2023 will be a big year for online retail.
Spirited Spending: Holiday Spending Expected to Return to Pre-Pandemic Levels
Ho-Ho-Ho-Holiday Spending!: While there’s no shortage of uncertainty in the run-up to this year’s holiday season, Deloitte’s 2023 Holiday Retail Survey includes a number of encouraging data points. Consumers are expected to spend $1,652 on average this season — an increase of 14% from last year and a return to pre-pandemic levels. Additionally, around 95% of those surveyed expect to purchase at least one gift this year, up from 92% in 2022 and 88% in 2021.
One other key insight featured in the report is the increased prevalence of bargain hunting this year: 66% of consumers plan to shop during sales events held from Thanksgiving through Cyber Monday, which represents a sharp uptick from 49% in 2022. The bottom line: people are gearing up to spend big, but they’re not shy about seeking out a good deal this season.
Check the Changelog: Three Shopify Updates You Need To Know About
Photo Credit: Shopify
Did Someone Say Upgrades?!: Shopify has announced a handful of changes that may have an impact on how you use the platform, starting with new customer data collection protocols. For sellers in the EEA and the UK, marketing, and analytics will now be collected only before or after customers provide consent. Additionally, customers can set their data collection preferences from any store’s cookie banner.
If you’re a Plus merchant and use Shopify’s GeoIP feature, you should know that it’s been rolled into the “Automatic Redirection” setting. This means your pages will automatically display region-targeted content based on your customer’s GeoIP. Automatic Redirection can be set up via the Preferences menu.
Finally, the “Publish Product” and “Hide Product” actions have been streamlined. Now, you can choose one or more Sales channels when publishing or hiding a product, allowing you to automate each action across multiple Sales channels and make sweeping changes in one fell swoop.
Try this. Consider investing in sustainable packaging — this is a consideration for 54% of consumers when shopping for a product.
FUN FACT
80% of consumers who plan to shop online this holiday season say they are willing to meet the minimum purchase threshold to receive free shipping.
LISTEN UP
Product innovation is the cornerstone of any e-commerce business. On this 107th episode of The E-Comm Show, Andrew Maff interviews Austin Hillman and Stephen Fazio of ZipString, a toy innovation startup that turns ordinary strings into fun interactive toys. In this episode, Austin and Stephen discuss how they came up with the idea for ZipString, their journey from concept to launch, and the strategic approach they take to product innovation. Don't miss this episode if you're looking for fresh ideas on creating new products!
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