We’re not sure how the e-commerce landscape will evolve in 2024, but we’re excited to see what happens next! It’s a new week, which means it’s time for a new batch of fresh stories for e-commerce sellers! Here are our picks:
Shopify and IDC teamed up on a report with tons of insights into the state of e-commerce.
FedEx announces new online platform, leveraging proprietary data to help retailers track key metrics.
TikTok is taking the fight to Amazon, setting a lofty $17.5 billion goal for U.S. e-commerce in 2024
Fulfillment outsourcing versus in-house fulfillment — what’s better for your business?
The Amazon Corner
From Viral Videos to Vendor? TikTok May Go Head To Head With Amazon
Amazon knows how to defend its title: According to insiders, TikTok is hoping to grow the size of its U.S. e-commerce business to $17.5 billion this year. That puts them directly at odds with everybody’s favorite e-commerce juggernaut, Amazon, as well as China-based firms like Temu and Shein.
The lofty new goal follows intense growth in Southeast Asia, as well as the success of the platform’s Shop function, which allows users to make purchases within the app while scrolling. According to TikTok, more than 5 million new U.S. customers bought something on the platform in November.
Diving Into Data: Shopify and IDC Report Plumbs The Depths of E-Commerce
Put on your reading glasses: A lengthy new report commissioned by Shopify and conducted by IDC (International Data Corporation) goes deep into the nitty gritty of how companies are looking at e-commerce in 2024 — and how their current goals might shape the future.
There are a ton of important insights to explore in the report, but one of the biggest takeaways is the fact that 74% of retailers consider it “very or extremely important” to enhance personalized shopping experiences and see digital platforms like Shopify as central to that goal. According to the report, companies view digital commerce as a crucial part of understanding "customer’s preferences and behaviors.”
From Deliveries To Datapoints: FedEx Announces Online Commerce Platform
Nothing wrong with diversifying: FedEx has announced plans to launch a new end-to-end commerce platform. Dubbed fdx, the platform will use FedEx’s proprietary data to help retailers track four crucial metrics: demand, conversion, fulfillment, and returns.
According to FedEx CEO Raj Subramaniam, “FedEx is transforming into a digitally-led business powered by our extensive physical transportation network, leveraging our scale and insights from moving 15 million packages per day.” fdx is slated to launch in Fall 2024, but interested retailers can enjoy a preview of the service on FedEx’s website.
Try this. Run a contest on social media — this will not only drive engagement but also expose your brand to new customers.
FUN FACT
77% of consumers prefer shopping with brands they follow on social media.
LISTEN UP
How do you successfully market your product when regulators are breathing down your neck? On this 119th episode of The E-Comm Show, Andrew Maff interviews Chris Fontes, CEO and founder of High Spirits, a pioneering cannabis beverage brand that’s quickly becoming one of the biggest in the business.
In this episode, Kevin will discuss the trials and tribulations of selling and marketing a highly regulated product, explain his role as an advocate for his industry, and explore the science behind High Spirits’ products. Additionally, he offers insight into how his company balances modern marketing tactics (from geo-targeting to influencer partnerships) with old-school social engagement.
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