- Industry Resource Weekly
- Posts
- Fourth Wave of Ecommerce Is Coming | Amazon + Stripe Partnership
Fourth Wave of Ecommerce Is Coming | Amazon + Stripe Partnership
Industry Fact:
Despite Economic Downturn 60% Of Brands Plan to Increase Ad Spend
Majority plan to increase advertising spend on YouTube (79%) and Instagram (75%), while decreasing on Facebook & Twitter.
| INSIGHTS
Ecommerce Ecommerce Report Reveals Shopper Preferences Around Site Navigation, Product Discovery Journey, and Device Usage
Lucidworks recent report includes valuable information for ecommerce leaders regarding site navigation features, shopper behavior around recommendations, and devices used to browse and buy.
Relevant Results Delight Shoppers
The search bar is a key driver for conversions and brand affinity
40% of people get a negative impression of a retailer if search results aren’t relevant
Second to search, shoppers said that filters are their most preferred way to navigate around a site.
Shoppers Prioritize Research Over Immediate Purchases
Less than one-third of shoppers plan to make a purchase on their first visit.
Nearly two-thirds said they go to a website to compare prices, and 55% say they’re browsing for ideas.
Mobile Is the Device Shoppers Love Most
70% planned to do the majority or at least half of their shopping online during holiday season
Nearly 30% say that after they add items to a cart, they are most likely to exit the site, knowing they’ll revisit it later
| NEWS
Brand manufacturers are developing their own DTC channels with the potential to capture large amounts of end consumer data. [Inc.]
The new ecommerce site and customer experience designed specifically for small-and medium-sized businesses (SMBs) and nonprofits. The aim of the Walmart Business platform is to “remove complexity in purchasing, lower costs and give our customers more opportunities to serve their customers and communities.” [Retail Touch Points]
The new deal will see Amazon using Stripe as a strategic payments partner in some of its largest markets - the US, Canada, and Europe - accounting for a “significant portion” of the company’s payments. It’s set to be used across Amazon’s numerous operations, including Prime, Audible, and Buy with Prime which recently expanded to more third parties. [Tech Radar]
Experts warn that retailers who rely on pre-pandemic business models will be left behind. Omnichannel commerce will continue to be the name of the game, this will force companies to refocus investment on tech to get them more in tune with customer needs and wants. [Supply Chain Digital]
Sports & apparel brands Puma, Adidas and Gildan have all improved their rankings, while luxury goods company Kering slid down. [Just-Style]
More than half (52%) of consumers plan to celebrate and will spend an average of $192.80. This year's holiday is expected to be one of the highest spending years on record. [NRF]
| EVENTS
Join 1000+ of the fastest-growing retail brands in LA for an unmissable day of workshops, meetings and lessons! Founders and growth marketers from Alo Yoga, Liquid Death, Mid-Day Squares, Hush Blankets, Athletic Greens, Dr. Squatch and Olipop are opening their playbooks on paid ads, email/SMS strategy, community building, social, LTV, subscriptions, funding, hiring and much more.
⭐ Reserve your FREE tickets here and get ready for a direct-to-consumer conference like no other!
UPCOMING EVENTS
Jan 25-26 Shopify Support Week 2023
| PODCASTS
Understanding how shoppers view your retail experiences quickly and accurately is one of the most important parts of serving them, and this means doing a lot more than just surveys. In this episode of Tech Transformation, we’re talking with Steve Peltzman, chief business technology officer at Forrester, about why this can be so hard for some retailers and what they can learn from other industries.Listen to learn:
How retailers are increasingly turning to real-time feedback
What this can look like in stores
What retailers can learn from other industries about these tactics
| FEATURED PROVIDER
GUSTO's people platform helps growing businesses onboard, pay, insure, and support their hardworking teams with payroll, benefits, and more.
A full-service payroll, HR, and Benefits. and HR platform serving over 100,000 small businesses nationwide. Gusto provides solutions for employee benefit plans in over 38 states. Gusto is also a completely cloud-based platform that offers software integrations with platforms like Xero and QuickBooks.