What's going on in the industry this week? We've got your latest updates right here...
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This week we got the hottest e-commerce news happening right now…
Amazon's introduction of new ads on Prime Video backed with high conversion rates- might be the future of shopping.
How small business owners really feel about the economy this year, according to Amazon’s most recent survey.
Shopify’s massive growth, at 20% growth in revenue and gross merchandise volume (GMV).
Everything you need to know about advertising on Amazon, all in our exclusive article.
The Amazon Corner
Stream & Shop: Amazon Introduces New Shoppable Ad Formats
Amazon has introduced new shoppable ad formats on its Prime Video platform, putting it in direct competition with other streaming companies like Disney and Home Depot. The three new formats (shoppable carousel ads, interactive brand trivia ads, and interactive pause video ads) allow retailers to showcase their products as well as provide interactive features for viewers to make purchases while watching their favorite shows or movies.
This is a growing trend in the e-commerce industry, with major players like Walmart and Shopsense AI also incorporating shoppable ad streaming platforms. Interactive ads have proven to drive more conversions and product views, so expect to see more of them in the future.
Small Businesses, Big Confidence: Amazon’s Optimistic Survey
93% of small businesses in the US are optimistic about the economy this year, despite inflation and supply chain challenges. To address these concerns and help businesses grow, Amazon Business has launched initiatives such as the Small Business Success Studio, which offers free educational resources, and a Small Business Grants program with a total of $250,000 in funding.
Additionally, the 2023 Small Business Empowerment Report revealed that independent sellers on Amazon's marketplace had more than 1.8 million employees and an average annual sales of $250,000. With more than 60% of Amazon's marketplace sales coming from small and mid-sized businesses, it is clear that these initiatives are making a significant impact on the growth and success of small businesses.
Shopify Shines: AI-Driven Growth for Record-Breaking Q1
Shopify Inc. reported over 20% growth in revenue and gross merchandise volume (GMV) for the first quarter of fiscal 2024. The e-commerce platform provider highlighted recent successes, including its strong performance in North America, where it is used by 117 of the Top 1000 online retailers.
Shopify's use of AI in Q1 also proved successful, driving significant efficiency improvements and an increase in merchant ads. Looking ahead, Shopify projects continued growth for the rest of 2024, despite some challenges for the second quarter. Overall, it's clear that Shopify remains dedicated to long-term success for its merchants and is constantly finding ways to innovate and improve its platform.
Amazon Advertising Made Easy: The Only Guide You Need
In this article, we have covered all the basics of Amazon advertising and how to get started with creating your first PPC campaign. From the advantages of using Amazon DSP over simple sponsored display PPC ads to real-time bid evaluations for brand safety, we cover everything you need to know before launching your campaign. Whether you're a beginner or have some experience with Amazon, our step-by-step guide will help you take your Amazon efforts to the next level.
Try this. The power of testimonials. Don't underestimate the power of your customers' voices. From email campaigns to ads - share personal testimonies in your assets for additional conversion opportunities.
FUN FACT
25% of all e-commerce stores use Shopify!
LISTEN UP
In today’s digital world, consumers already know what they want, but how do they measure companies against each other? One word- quality. On this 133rd episode of the E-Comm Show, Andrew Maff interviews Christine Alstat, founder of Eclectic Herb. From innovative technologies such as freeze drying, Eclectic Herb separates itself in its quality and commitment to consistency.
From balancing live and digital channels to educating customers without stepping out of regulatory boundaries, Eclectic Herb practices attention to detail in everything it does. This commitment to staying consistent and detail-oriented has allowed Eclectic Herb to stand out and create a lasting impression on its customers. For those looking to build a strong relationship with your customers through consistency and quality, this episode is for you!
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