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THIS WEEK’S AOB LOOKS AT THE LATEST E-COMMERCE NEWS FROM AROUND THE WORLD, INCLUDING BLACK FRIDAY TRENDS, AND WHY RETAILERS SHOULD “THINK PINK” THIS HOLIDAY SEASON.
The global sales bonanza of Black Friday is upon us! So, what can your business expect?
According to Criteo1, consumers’ leading motivations for trying a new brand on the day are great deals (54% of shoppers), free shipping (48%), and discounts on products that aren’t discounted elsewhere (37%).
Unsurprisingly, consumers will be spending more cautiously this year due to global recessions, meaning retailers will have to adopt an aggressive pricing strategy to entice them. We recommend watching your sales closely throughout the day and be willing to adapt your pricing accordingly. And don’t forget – today, the UK plays the USA at the FIFA World Cup, opening an opportunity for retailers in those countries to jump on the buzz and offer some extra discounts.
Whatever your business has planned for Black Friday, we wish you the best of luck! And don’t forget to check out all our Peak Season guides to help you make the most of the remaining lucrative sales period in the run up to Christmas.
If you’re looking to incorporate a gifting feature into your e-commerce website this holiday season, then look no further than Zest2.
The start-up aims to make gifting seamless and stress free for brands, allowing their customers to gift their products to anybody, anywhere, with just a text or link. The brand can embed a “send as a gift” button on their product or cart pages, whilst the sender can add a personal message. Meanwhile, the recipient adds their shipping address, and can customize the gift’s attributes – such as size or color – or even swap the item for another gift. Once the recipient confirms all details, the sender is charged.
Zest seeks to enhance the gifting experience in a way that e-gift cards can’t,” co-founder Alex Ingram explained3. “We don’t believe e-gift cards are the future of gifting. They feel transactional and impersonal. They’re so forgettable that billions of dollars of gift cards go unused every year in the US.”
“For brands, the value we’re providing is first and foremost an elevated gifting experience for their customers. When it’s so easy and natural to send a gift directly from a product or cart page, these brands will sell more gifts and reach more people.”
Peak season is here, but with competition so fierce, knowing exactly what consumers want could give your business the edge.
A recent survey by Digital Commerce 3604 asked shoppers what motivates them to make a holiday purchase online. The large majority (62%) answered free shipping, followed by customer reviews (31%), and perks, points or rewards offered by a retailer’s loyalty program (27%).
Other mentioned factors included promotional emails, and receiving a text/email with a discount on a product the shopper put in their cart but didn’t buy.
What else matters to consumers this holiday season – and how can your business adapt? Find out with our dedicated guide. Remember, insights equal sales!
According to a recent survey5, correct product information is considered important by 94% of online consumers, whilst a lack of it will even push 53% to shop elsewhere.
Inriver6, a product information solution provider, surveyed 6,000 consumers from Europe and the US, and delved into exactly what type of information shoppers are looking for. 39% preferred written product descriptions, whilst 25% favored images and 18% wanted customer ratings.
Beyond accurate and thorough product descriptions, what other things should your website include to engage customers? Find out with our 22 golden rules of e-commerce.
Time to think pink. The color is the hue retailers should be working with to entice Christmas shoppers – that is according to Dayna Isom Johnson, trend spotter at Etsy. "Everyone's been crazy about hot pink and really just pink in all shades," she said7.
The online craft marketplace has seen a 34% increase in searches for hot pink fashion items over the last year, whilst pink holiday décor and homeware have also been capturing customers’ attention.
Think pink and then go green: here’s how to implement a sustainable strategy this peak season. Your eco-conscious customers will thank you for it.
1 - Criteo, October 2021
2 - Zest
3 - Alex Ingram, TechCrunch, November 2022
4 - Digital Commerce 360 survey, November 2022
5 - Inriver
6 - Inriver survey, Ecommerce News Europe, November 2022
7 - Dayna Isom Johnson, ABC News, November 2022