The 7 Steps to E-commerce Success

October 04, 2023

Industry Fact:
Gen Z Favors Social Media Over TV For CPG Purchases

TikTok is by far Gen Z's biggest source of new CPG product discovery on social.

This week’s issue is brought to you by

| INSIGHTS

The 7 Steps to Black-Friday Success

nShift has unveiled a comprehensive guide titled "Delivering Black-Friday success," which offers valuable insights for ecommerce and multi-channel retailers aiming to maximize their Black Friday performance. Despite concerns that increased discounts throughout November and December might diminish the significance of Black Friday, this year's event is anticipated to set sales records. However, success is not guaranteed, and businesses can achieve Black Friday success by following seven key principles:

  1. Increase Conversions at Checkout: By offering and clearly labeling various delivery options, ecommerce companies can boost conversions by up to 20%.

  2. Align with Customer Values: Demonstrating shared values by setting up deliveries that trigger charitable donations can foster customer loyalty.

  3. Prioritize Delivery Convenience: Providing out-of-home delivery alternatives, such as parcel shop or locker pickups, can enhance convenience.

  4. Keep Customers Informed: Regular and relevant updates on order status can reduce "where is my order" (WISMO) calls by 60%.

  5. Utilize Remarketing and Upselling: Incorporating marketing messages into delivery updates can help increase revenue.

  6. Convert Returns to Exchanges: A digital returns process with a user-friendly interface makes it easier to offer exchange options, preserving revenue.

  7. Analyze and Improve: Leveraging data from the digital delivery process can enable improvements in marketing, operations, and customer-journey personalization.

For the full guide, "Delivering Black-Friday success - five common mistakes and seven principles of success," retailers can turn to experts in delivery management to enhance their capabilities and provide a superior customer experience, especially during peak shopping seasons.

| NEWS

Sustainability
Klarna Introduces Innovative Tools for Conscious Shopping

Klarna has unveiled a conscious shopping dashboard that promotes sustainability by highlighting circular brands and offering a Co2e footprint tracker. The platform also includes intelligent search and compare tools, sustainability certification filters, and a spotlight on conscious brands with high sustainability ratings, empowering consumers to make informed, eco-conscious choices while shopping.

Ecommerce
Consumers Suffer False Declines & Poor Online Shopping Experience at Alarming Rates

Forter's 2023 Trust Premium Report reveals that many consumers face false declines, cart abandonment, and trust issues in their online shopping, even as they are willing to spend 46% more with trusted retailers. Retailers must address these challenges to secure revenue and provide frictionless, fraud-free shopping experiences during the upcoming holiday season.

Shipping
Low-Cost, Sustainable Shipping More Accessible for SMB’s

Easyship and Sendle have expanded their partnership to provide small and medium-sized businesses (SMBs) in the U.S. and Canada with access to affordable and sustainable parcel delivery services. This partnership allows Easyship's customers in the U.S. to save up to 83% using Sendle, while Canadian customers can save up to 82%, combining Sendle's carbon-neutral delivery services with Easyship's shipping management tool, benefiting SMBs striving to compete in the demanding eCommerce landscape while prioritizing sustainability.

Technology
Introducing 1st Full Funnel Forecasting Solution Helping Brands Grow On Amazon

Stackline has introduced Beacon Pro, an innovative AI-driven platform designed to help brands confidently forecast their performance on Amazon. Addressing the challenge where 64% of brand leaders lack confidence in their forecasting abilities, Beacon Pro offers centralized forecasting, collaborative scenario planning, and optimization strategies across a brand's entire product portfolio, empowering brands to make informed decisions and accelerate their Amazon performance.

Retail
Visa Combats Friendly Fraud Losses for SMB’s Globally

Visa has unveiled changes to its dispute program, aiming to help merchants combat first-party misuse or friendly fraud in card-not-present transactions. This initiative is expected to save small businesses worldwide over a billion dollars in losses over the next five years, offering them more tools to prove the validity of disputed charges and protect their rightful earnings, ultimately benefiting consumers and merchants alike.

Ecommerce
Fashion Ecommerce: How To Analyze Search Demand & Forecast Trends

Fashion e-commerce brands are facing changing consumer demands, increased emphasis on sustainability, and shifts in online discovery platforms. To navigate these changes effectively, leveraging search data is essential for predicting trends, boosting value creation, and optimizing SEO strategies. This holistic approach involves analyzing multiplatform trends, identifying opportunity products, and recognizing tangential search trends to engage with consumers across various channels and build a strong organic presence.

| EVENTS

Grow LA
October 17 • Los Angeles, CA

The friendliest, smartest, and most approachable people in eCommerce meet at GROW LA.

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