eCommerce Industry News

Tech news and industry hot topics - this section has got it all for staying on top of ecommerce strategy and marketing trends. Share tips and best practices, show what you've created and inspire others

  • 39 Topics
  • 4 Replies

39 Topics

Sylwia
SylwiaEmployee
published in eCommerce Industry News

94% of consumers want control over the information they share with companies

With rampant data breaches, consumers have become more aware of how their data is collected. A recent survey from Qonsent confirmed this, with 94% of consumers feeling it’s important to have more control over the data they share with companies as well as knowing how those brands use their information. 88% of marketers are concerned with data privacy laws, such as the impending American Data Privacy Protection Act (ADPPA), and 78% believe that impending privacy laws will negatively impact consumer engagement and personalization. However, 84% of consumers are more likely to share information with brands that have transparent data practices and policies. MORE HERE

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Sylwia
1 year ago
DagmaraL
DagmaraLEmployee
published in eCommerce Industry News

dentsu’s CPG 2030: Consumer Goods Brands’ Marketing Transformation in the Next Decade

Hi everyone! If you’re looking for a really interesting thing to read, check out THIS REPORT.(Yes, it might take some time to load. :)) The analysis is based on findings from dentu’s The Age of Inclusive Intelligence report, aimed at identifying the long-term consumer trends that will shape how brands need to evolve their go-to-market strategies from here on out towards 2030.The Age of Inclusive Intelligence discusses four macro-forces that will inform the evolution of consumer behaviors throughout this decade: Universal Activism, Synthetic Society, Bigger, Bolder Brands, and the Human Dividend. Each “force” is comprised of three trends that are likely to have a level of impact on the sector concerned – but maybe also on other sectors…? Force 01Universal Activism• Acclimatize Now • A New Data Paradigm • Kaleido-identityIn the 2010s, brands obsessed about meeting consumer needs. But the term ‘consumer’ is itself too narrow a concept. In the 2020s, brands will need to reconceive of their

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DagmaraL
1 year ago
A
AnthonyPioneer
published in eCommerce Industry News

Most UK consumers will pay more to guarantee a great digital experience

Despite the cost-of-living crisis, over half of UK consumers (59%) would be willing to pay more for a product or service if it guaranteed a positive digital experience. That is according to new research from FullStory. The research examines the link between digital experiences (DX) and profitability, incorporating data from over 7,000 consumers across multiple industries in the UK, USA, Germany, The Netherlands, Australia, Singapore, and Indonesia. Of those who would pay extra, almost a third (29%) will pay up to +5% more as a result of a great DX. A fifth of consumers (21%) will pay up to +15% more, while one in ten will spend a massive +25% more if they receive a good digital experience. The research also highlights what consumers consider to be a great experience, with the top factors including: Being able to quickly accomplish what they came to do (77%) Having personal information remain private and secure (68%) Receiving a regularly evolving and improving experience (47%) Re

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6 months ago
Lily
LilyNew Participant
published in eCommerce Industry News

64% of e-commerce marketers fail to measure customer engagement

64% of e-commerce marketers have not measured their customer engagement processes in the past month, and nearly one fifth (17%) have never measured them at all, according to new data from Customer Engagement Platform SALESmanago. Worryingly, almost half (48%) don’t think customer engagement metrics are important. When asked what the main barrier to monitoring and understanding success metrics is, a lack of internal resources was identified as the biggest hurdle (24%). This was closely followed by a reluctance and lack of understanding from seniors (21%), as well as a lack of internal processes to measure customer engagement (20%). Over a third (35%) think they need to improve the way they measure customer engagement and loyalty. When asked what aspects of customer engagement were the most difficult to measure, convenience (24%), data insights (22%) and Customer Intimacy (22%) were identified as the most challenging. All article here

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Lily
7 months ago
Sylwia
SylwiaEmployee
published in eCommerce Industry News

CUPIDScore - Measure your customer engagement

Are you really #LovingYourCustomer?Over a third (34%) of eCommerce marketers across Europe wish they had a standardised method for evaluating customer engagement.Introducing the #CUPIDScore 🏹 ❣️  The new industry standard to measure customer engagement and experience.  Your CUPID Score helps you to understand how effective your company is in building bonds with your customers across five key areas: Convenience, Understanding, Personalization, Intimacy and Data - CUPID. You can take the assessment for free and receive a bronze, silver or gold CUPID Score certification based on your results. Check it here: http://www.cupidscore.eu/?utm_source=community&utm_medium=community&utm_campaign=promotion

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Sylwia
7 months ago
Sylwia
SylwiaEmployee
published in eCommerce Industry News

Marketing budgets cling to growth despite recession fears

Marketing budgets continued to grow in the last three months of 2022, despite high levels of pessimism as marketers face a recessionary 2023, finds the latest IPA Bellwether report. A modest net balance of 2.2% of firms increased their total marketing spending in the fourth quarter of 2022. Around one fifth (20.2%) of the 300 marketers surveyed reported an upward revision in their marketing budgets, while 18% made cuts. This marked the seventh consecutive quarter of budget growth. Almost four in 10 (39.5%) of the firms surveyed expect marketing budgets to be higher in the 2023/24 financial year, with just 15.3% expecting spending cuts.This means a strong positive net balance - 24.2% expect marketing budgets to grow this year, suggesting firms are protecting spend despite economic concerns. Unlike the previous quarter, the last three months of 2022 saw a net balance of 4.4% of companies increase main media spend. The third quarter had seen a net balance of -3.1% make cuts in the categor

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Sylwia
7 months ago
Lily
LilyNew Participant
published in eCommerce Industry News

Gift Cards Are Less Popular This Holiday Season, Study Finds

Consumers are turning away from gift cards in favor of physical gifts as Cyber Weekend approaches, according to a study by Jungle Scout. Of the shoppers polled, 49% plan to purchase gift cards -- down from 65% in 2021. In contrast, 59% will give products such as clothing, electronics and jewelry. In addition, 29% will give a virtual product like a Netflix or Spotify subscription, a virtual gym membership or a Masterclass membership. As for their buying strategies, 56% said they search for deals and discounts. But 40% also seek surprise gifts that recipients didn’t ask for or expect to receive. In addition, 28% week out specific brands, and 19% will buy gifts based on ideas they see in social media. More here: https://www.mediapost.com/publications/article/379925/gift-cards-are-less-popular-this-holiday-season-s.html

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Lily
9 months ago
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DanielaCommunity Manager
published in eCommerce Industry News

Online retailers plan to invest more in technology in 2023

According to Digital Commerce 360’s Digital Technology survey, three-quarters of surveyed retailers (76%) plan to increase their investment in technology to attract new and retain loyal customers in 2023. The next question retailers need to ask themselves is whether to outsource technology or build it themselves. According to the survey, 70% plan to outsource the task rather than attempt to build a tech stack in house. When asked to narrow down their top priorities, nearly half (46%) said investing in an ecommerce platform topped their list. Other priorities included customer relationship management technology (34%), online marketing (30%), and 27% cited content management and customer service software, respectively. That requires investment. Three in four retailers expect to increase spending by 15% or less. Meanwhile, 39% predict they will spend 10.1% to 15% more. More information here: https://www.digitalcommerce360.com/2022/11/22/online-retailers-plan-to-invest-more-in-technology-i

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D
9 months ago
Lily
LilyNew Participant
published in eCommerce Industry News

Significant numbers of shoppers plan to use mobile devices to shop for Christmas

Mobile phones and gaming apps could be a key way for retailers and brands to connect with shoppers this holiday season, according to The Modern Mobile Consumer 2022 Holiday Marketing Playbook. Close to two-thirds of consumers said they plan to use their mobile phone or tablet to shop. The survey also showed significant numbers of consumers are receptive to mobile ads, particularly rewarded ads on gaming sites. Nearly half - 48% - said mobile ads that provide rewards to the viewer, such as extra points or a playing advantage on a gaming site, or access to content on a news site, have influenced their gift decisions. The survey also asked consumers about their holiday spending plans. The majority, 65%, said they will spend the same amount, or more, than they did last year. Roughly a third - 35% - said they planned to spend more this year. Read more here

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Lily
10 months ago
Sylwia
SylwiaEmployee
published in eCommerce Industry News

Episode 49 of Extrology

If you knew a decade ago what you know now, there’s no guarantee that your decision-making would actually be any better🤔.It seems like a contradictory concept, but our Founder Greg Blazewicz in Episode 49 of Extrology attests to the value of sometimes simplifying your decisions rather than overthinking them. Greg had a desire to change what marketing could be and do within a company. Decades of technological advancement are realizing those dreams in the form of SALESmanago🤩.Discover the whole of our CEO's fascinating adventure on his journey to the success that SALESmanago has become by clicking below 👇👩‍💻 Listen online: https://bit.ly/3zAFFJa🍎 Listen on Apple Podcasts: https://apple.co/3DwMmx4🎧 Listen on Spotify: https://spoti.fi/3NrD2PC🎙️ Listen on Google Podcasts: https://bit.ly/3WoMHuf📱 Listen on Amazon Music: https://amzn.to/3foRsDA

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Sylwia
10 months ago
A
Anna GogolinEmployee
published in eCommerce Industry News

Marketing Budgets to Grow 20% Despite Recessionary Fears

The survey from digital marketing consultants ConsultMyApp which questioned 100 CMOs of businesses with more than 250 employees, found that marketing budgets are expected to increase on average 20% over the next year. More than three-quarters (77%) of CMOs will be increasing their marketing spend over the next 12 months, despite almost half (44%) expecting the possible recession to have a negative impact on their business, according to new research out today. In fact, the marketing areas that will see the highest levels of investment from CMOs include: Brand building (42%), New service introductions (42%), Traditional advertising spend (41%), Web/mobile web marketing spend (38%). The outlook looks relatively positive for agencies too, with more than half (52%) of CMOs looking to outsource their marketing requirements in 2023. Just over a third (36%) said they will be hiring internally instead. Read more here: https://martechseries.com/sales-marketing/marketing-budgets-to-grow-20-despit

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11 months ago
Sylwia
SylwiaEmployee
published in eCommerce Industry News

60% of CMOs to cut marketing analytics teams by 2023, Gartner predicts

Despite an increased emphasis on the importance of data in marketing, only 53% of marketing decisions are influenced by data, according to a new survey by Gartner. The consulting firm predicts that 60% of CMOs will cut the size of their analytic departments in half by 2023 due to “failed promised improvements.” Inconsistency and difficulty of access were listed among the top reasons analytics were not used when making decisions. No matter how involved analytics are in decisions, marketing departments don’t always see the returns. Organizations are more likely to agree they are unable to prove marketing's value if analytics were used in fewer than 50% of decisions. On the flipside, if analytics influenced more than 50% of decisions, there are likely diminishing returns for the organization, according to Gartner’s findings. The survey found that one-third of respondents said decision-makers cherry-pick data that supports a decision or opinion they’ve already formed. Cognitive biases were

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Sylwia
11 months ago
D
DanielaCommunity Manager
published in eCommerce Industry News

Halloween spending to surpass 2021 levels

Nearly seven in 10 consumers are planning to celebrate Halloween this year, a survey by Prosper Insights & Analytics and the National Retail Federation found. The NRF predicts that consumers will spend $10.6 billion on Halloween this year, up from $10.1 billion last year. Spending on costumes, decorations and candy is expected to reach record levels. Costumes will make up the largest category of spending, with kids and adult costumes projected to hit $2.9 billion, the highest total since 2017. Pet spending is also expected to surpass 2021’s record high sales, hitting $710 million. Almost half (47%) of consumers plan to shop for Halloween in September or earlier. As to where they’ll shop, 40% of respondents will buy their items at discount stores, 36% will shop with specialty Halloween or costume stores, and 31% will make their Halloween purchases online. Read more here: https://www.retaildive.com/news/halloween-spending-surpasses-2021-levels/632229/

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11 months ago
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Anna GogolinEmployee
posted in eCommerce Industry News

16% of products online out-of-stock

According to Feed Marketing Report 2022, in online shops, 16 percent of products are out-of-stock. The United Kingdom and the Netherlands have the best product availability. Germany and France score below average, with over 15 percent of products being unavailable. Most product shortages are found in the product categories Vehicles and parts (57 percent), Sporting goods (40 percent) and Cameras (22 percent). When looking at marketing, the average online shop advertises on 3.2 channels. Bigger shops (less than 10.000 products) employ 4 platforms, while smaller shops (less than 500 products) use 2 channels, such as Google or Facebook. Nine out of ten shops use search engines for marketing, while more than half advertise on social media. The top 3 ecommerce channels are: Google Shopping, Facebook Product Ads and Amazon.More here: https://ecommercenews.eu/16-of-products-online-out-of-stock/

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A
1 year ago
M
MichaelParticipating Frequently
published in eCommerce Industry News

High income shoppers have already spent nearly $9B on beauty in 2022

Eighty-five percent of consumers have indicated a shift in their shopping behaviors, according to a recent Morning Consult survey. Yet, higher-income shoppers are more insulated from inflation and are less likely to alter shopping behaviors. Consumers with an annual household income of over $100,000 have spent nearly $9 billion on beauty products in the first half of 2022, according to a report by The NPD Group. That marks an increase of 14% year over year, with Gen X and millennials leading spending. Even as many households have cut discretionary spending during a time of high inflation, the beauty category is showing signs of resilience. Moreover, high income U.S. households account for more than 40% of beauty sales revenue, according to NPD research. More information here: https://www.retaildive.com/news/high-income-shoppers-have-already-spent-nearly-9b-on-beauty-in-2022-repor/630758/

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M
1 year ago
Sylwia
SylwiaEmployee
published in eCommerce Industry News

Nearly half of consumers would give up shopping at an online store that charges for returns

Nearly half (47%) of consumers wouldn’t shop with an online retailer that charges for online returns, according to new research from platform ROI Hunter. The research found that price is still the most important influencing factor in online purchasing decisions. As a result, even a small uplift could run the risk of putting shoppers off at a time when many have already changed their shopping habits just to make ends meet. It is not just the pricing of returns where UK consumers are holding online retailers accountable; 38% say they will boycott a brand that serves them irrelevant ads, and nearly a third (31%) would stop shopping with a retailer who served them an insensitive ad. Despite the risks, six in 10 consumers say they have been served ads for irrelevant products, and 50% for out-of-stock items, indicating that many retailers are still wasting budget on ineffective advertising. More information here: https://www.marketingtechnews.net/news/2022/aug/26/shoppers-to-shun-online-reta

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Sylwia
1 year ago
D
DanielaCommunity Manager
published in eCommerce Industry News

McKinsey’s: 6 actions for eCommerce to navigate inflation and not get squeezed too much

Retailers are facing the possibility of persistent inflation—but they can meet that challenge in ways that streamline operations, retain customers, and drive profitable growth.6 Tips: Revisit their category strategies to reflect shifts in consumer purchase behavior and margin profiles. Address end-to-end cost-to-serve through enhanced supply chain visibility and diversification.  Go granular with pricing and promotion and tailor value delivery to consumers. Use next-gen sourcing tools to drive sourcing excellence for private-brand and branded goods Rethink store operations to optimize productivity. Set up an inflation “win room.” (a flexible, cross-functional structure with the authority to coordinate the inflation response)  Check more here: https://www.mckinsey.com/industries/retail/our-insights/navigating-inflation-in-retail-six-actions-for-retailers

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1 year ago
D
DanielaCommunity Manager
published in eCommerce Industry News

Mastercard reportedly begins widespread rollout of BNPL program—though not everyone is on board

Mastercard is reportedly automatically enrolling merchants in its buy now, pay later (BNPL) program Mastercard Installments—though they do have the option to opt out. US BNPL payment volume is expected to grow 77.3% year over year (YoY) in 2022 and hit $75.60 billion, according to Insider Intelligence forecasts. Next year volume is forecasted to grow 25.5% YoY and reach $94.87 billion. Twenty-seven percent of US respondents said they have used BNPL services and 22% said they hadn’t used it but were at least somewhat interested in doing so, per a June 2022 Insider Intelligence survey. Mastercard’s vast merchant network and technology expertise gives its BNPL program a competitive advantage over incumbent BNPL providers like Afterpay or Klarna. And Mastercard’s ties to banks may reduce the perception of risk and add clout since they can promote the BNPL service to their customers. Read more here: https://www.insiderintelligence.com/content/mastercard-reportedly-begins-widespread-rollout-

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1 year ago
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Anna GogolinEmployee
asked in eCommerce Industry News

Only 38% of marketers very confident in their customer data and analytics systems

Only 38% of marketers globally are very confident in their data, analytics and insight systems, according to a new report from The CMO Council. And, while 91% say direct access to customer data is a critical competitive advantage, only 11% say that data is readily accessible to them. Most of these numbers are global ones, but the ones specifically from North American marketers are not good. Only 28% say they are very confident in their data systems to win and retain customers. Compare that with Europe where 61% answered yes to this. The biggest things preventing marketers from maximizing the data they already have? Some 55% said a lack of systems connecting data silos and making it easy to access. The talent shortage is No. 2 on the list, cited by 52% of respondents. Next on the list at 44% was not having the money to improve data systems. Check out:https://martech.org/only-38-of-marketers-very-confident-in-their-customer-data-and-analytics-systems/

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A
1 year ago
Jakub Krupa
Jakub KrupaNew Participant
published in eCommerce Industry News

62% of U.S. consumers say they'll stop buying from brands that engage in shrinkflation

CPG brands cutting quantity or quality to bolster earnings are enraging customers. Nearly two-thirds of customers (62%) say they’ll stop buying from brands who do this, according to a new Gartner report. More than half of consumers (56%) reported seeing instances of shrinkflation (reducing size or quantity of packaged goods without reducing the price) in food and groceries. Skimpflation (using cheaper ingredients or components) was most prevalent in apparel and footwear, with 17% saying they noticed a drop in quality.  More here: https://martech.org/brands-cost-cutting-moves-are-costing-them-customers/

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Jakub Krupa
1 year ago
I
Ian
published in eCommerce Industry News

Omnichannel Ad Campaigns Produce Better Results than Single-Channel Executions for Local Advertisers

According to Frequence, combining media products (an omnichannel approach) leads to much higher conversion rates (in some cases up to 3x) for advertisers compared to running a single media product at a time, particularly for local ads. The right media mix also results in cheaper conversions, in some cases reducing the cost per conversion by 50%. There are differences in conversion rates by industry, but all industries see a lift with an omnichannel approach to media buys. More here: https://martechseries.com/sales-marketing/programmatic-buying/omnichannel-ad-campaigns-produce-better-results-than-single-channel-executions-for-local-advertisers-according-to-new-report-from-frequence/

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I
1 year ago
GregBlazewicz
GregBlazewiczNew Participant
posted in eCommerce Industry News

Subscribe to my Linkedin Newsletter with eCommerce/Martech news

Hello, I started to publish a weekly review of the most important stuff (I believe 😉 eCommerce people should be aware of.ECommerce & Martech News, Analysis, Research Subscribe here https://www.linkedin.com/newsletters/greg-blazewicz-newsletter-6894209396751114240/ Hope you will enjoy it. Have a good week ;) greg blazewicz

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GregBlazewicz
1 year ago
A
Anna GogolinEmployee
published in eCommerce Industry News

European ecommerce grew 13% in 2021

In 2021, ecommerce revenue in Europe grew by 13 percent to 718 billion euros, by the results of the 2022 European E-commerce Report The growth rate remains stable, increasing slightly in the past year. For 2022, forecasts show a continued upward trend. Growth is expected to slow down, though, with a growth rate of 11 percent to 797 billion euros. For the first time, Northern Europe has the highest share of online shoppers (86 percent), followed by Western Europe (84 percent). The country with the most online consumers is the Netherlands (94 percent), followed by Denmark and Sweden (both 92 percent). More here:https://bit.ly/3NFwawK

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1 year ago
A
Anna GogolinEmployee
published in eCommerce Industry News

The sales of luxury goods is expected to make up to 30 percent of the global market in 2025

Bain & Company claim that online will become the single biggest sales channel for personal luxury goods in the coming years. The luxury space is expected to make up to 30 percent of the global market in 2025. The same forecast predicted monobrand physical retail stores would account for only 28 percent over the same time. One of the biggest challenges with online shopping is not being able to physically try-on a personal item before purchase. But AR is allowing users to do this using the power of their smartphone. Augmented Reality “try on” technology could reduce annual online returns by 31 percent. More here: https://www.marketingmag.com.au/social-digital/how-augmented-reality-is-changing-the-face-of-luxury-retail/

200
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1 year ago
Sylwia
SylwiaEmployee
published in eCommerce Industry News

A Third Of Consumers Say Customer Experience Has Improved, A Third Say It's Worse

The customer experience has not improved much over the past year, judging by CX Trends, Challenges, & Opportunities, a study by Customer Contact Week (CCW) Digital. Of the consumers polled, 33% say it has gotten worse, and 9% say it is much worse. Another 35% report no change, while 33% say things are better and 10% say there has been a major upgrade. In addition, 33% say most experiences do not feel personalized, with 15% saying most are personalized and 52% saying some.  Moreover, bad service has consequences. For one, 43% of consumers would switch to a competitor after two bad experiences, and 17% would jump after one. more info here: https://bit.ly/3OX5Uzh

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Sylwia
1 year ago

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