Hello, eStore owners! Brace yourselves for a deep dive into the dynamic world of online retail with our exclusive eCommerce Digest, crafted just for you.
Consider this your complimentary ticket to the latest in eCommerce insights. In this edition, we’re curating the most noteworthy highlights from November 2023, providing essential context to navigate the ever-evolving eCommerce landscape. Just as a savvy shopper stays attuned to trends, a successful eStore owner remains informed in this bustling digital marketplace.
So, grab your preferred beverage, settle in, and let’s unravel the eCommerce marvels that unfolded in November, shaping the way forward for your online retail venture.
Table of Contents
Featured news
Walmart Introduces Parcel Stations to Speed Up Delivery
Walmart’s introduction of Parcel Stations signals a game-changer in eCommerce delivery. With over 4,000 stores as delivery hubs, this innovation, likened to mini post offices, uses Walmart’s Private Fleet to swiftly move goods to customers’ homes.
For eStore owners, this means accelerated delivery speeds, an expanded assortment for Next Day Delivery, more efficient order distribution, potential cost savings, and business expansion opportunities through Walmart GoLocal. Walmart’s focus on exceeding customer expectations aligns with the evolving preference for home delivery, presenting eStore owners with improved logistics and a more satisfying customer experience.
UPS Introduces the Supply Chain Symphony Portal.
UPS has introduced the UPS Supply Chain Symphony™ platform. This innovative tool seamlessly integrates shipping, warehousing, and inventory management, providing a competitive edge through enhanced efficiency and visibility.
eStore owners can make strategic decisions, predict issues, and optimize asset utilization. With a focus on improved customer service and streamlined logistics, this platform represents a significant leap in comprehensive supply chain management.
HubSpot to Acquire B2B Intelligence Provider Clearbit
HubSpot’s acquisition of Clearbit, a B2B data leader, is set to revolutionize the eCommerce landscape. The integration of Clearbit’s robust third-party data into HubSpot’s platform promises enhanced customer intelligence and real-time insights.
For eStore owners, this means more effective targeting, personalized engagement, and streamlined operations within the eCommerce ecosystem. The move underscores a commitment to providing powerful tools for eStore owners to navigate and excel in the competitive eCommerce landscape.
Craft Retailer Michaels Launches MakerPlace, a Marketplace.
Michaels, a retailer specializing in craft and creative supplies, has unveiled its online marketplace called MakerPlace by Michaels. The platform, at its launch, features hundreds of thousands of SKUs along with classes and tutorials catering to beginners, hobbyists, and aspiring professionals.
MakerPlace provides sellers with Basic and Professional membership tiers, as well as various shipping options. The launch comes after a three-month beta testing period.
UPS Rolled Out a Hyperlocal Delivery Service
UPS has introduced Hyperlocal, offering a swift next-day delivery option within a metropolitan service area for select customers. This next-day delivery service is aimed at helping UPS tap into “profitable B2B and B2C volume.”
Leveraging its assets, including Roadie (a crowdsourced delivery platform) and Ware2Go (a platform connecting businesses with available warehouse space), UPS aims to enhance the local experience and potentially transition it into a same-day delivery offering.
Emerging technology
Video Commerce Platform Bambuser Launches In-video Social Selling
Bambuser, a video commerce platform, has introduced Social Selling, allowing businesses to generate shoppable videos directly on social media. In these videos, when a product is showcased, a product card displaying a unique shop code appears on the screen. Viewers can access the product detail page simply by typing the code in the chat. Initially launched on Facebook, Social Selling is set to expand to other platforms in the future.
Open banking platform TrueLayer integrates with Shopify
This one is especially for Shopify store owners. TrueLayer, a leading open banking payments network in Europe, has launched its new app on the Shopify App Store.
This allows merchants in the U.K. and E.U. to integrate open banking payments into their checkout process. TrueLayer’s open banking payments are digitally native, eliminating the need for manual data entry. The use of open banking facilitates real-time settlement of funds and accelerates the processing of refunds for businesses.
Global trends
TikTok Shop Partners with U.K. Royal Mail’s “Click & Drop” Service.
TikTok Shop has collaborated with Royal Mail, integrating its primary shipping solution, Click & Drop. Merchants on TikTok Shop can now link their accounts with Royal Mail’s Click & Drop service to organize shipments to customers. This integration is accessible to TikTok Shop sellers through the Service Market in the Seller Center, and merchants can also set it up directly via Royal Mail.
Paysafe Offers Network Tokenization for Merchants with Visa
Paysafe has strengthened its collaboration with Visa to introduce Visa Network Tokens, enhancing online payment security in Europe. This integration provides an additional layer of protection for cardholders without disrupting the payment experience, ensuring seamless transactions and improved authorization rates. Visa Network Tokens update card numbers in real-time, reducing declines and maintaining uninterrupted recurring payments.
Merchants, accessible through Paysafe’s Single Payments API, will benefit from enhanced security for customer-initiated payments and refunds within Europe. This advancement marks a significant improvement in online payment security, offering eStore owners increased protection against fraud, reduced risks of data breaches, and an overall safer online shopping environment for customers.
BNPL Provider Afterpay Partners with eCommerce Tech Platform Rokt to Expand its Ads Business
Rokt, an ecommerce post-sale marketing platform, has collaborated with Afterpay, a buy-now, pay-later provider. Through Rokt’s technology, Afterpay and its retail partners can provide targeted advertising to customers during the checkout process. This aims to enhance the shopping experience, fostering deeper customer lifetime value, according to Rokt.
London-based Diginius Launches App to Streamline Microsoft Shopping Campaigns for Shopify Stores
Diginius, a SaaS digital performance platform, has introduced Diginius Shopping for Shopify. This app, as per Diginius, simplifies Microsoft Shopping management for Shopify store owners engaged in advertising on Bing. Within the app, store owners can establish a Microsoft Advertising account, automate product feed synchronization between the Shopify store and Microsoft ads, manage campaigns, and track advertising metrics.
Commercetools Collaborates with PayPal Braintree on Consumer Checkouts.
Commercetools, known for its composable commerce solutions, is partnering with PayPal Braintree to provide a diverse range of payment options. This integration encompasses debit and credit cards, digital wallets, PayPal Later, and local payment methods, catering to 200 markets in 135 currencies. Additionally, the integration offers customizable fraud tools and dispute automation for enhanced security and efficiency in payment processing.
Google Releases Tools to Find Shopping Deals Ahead of The Holidays
Google is introducing a deals destination on its Search platform to assist shoppers in discovering discounted products across the internet.
The deals page will feature promotions and markdowns in key holiday categories like apparel, electronics, toys, and beauty. Chrome, the web browser, can actively search for discount codes to aid users in saving money. Merchants have the ability to control the visibility of their deals on Google through their settings in the Merchant Center.
Vertex Partners with Shopify to Streamline Compliance
Vertex, a global tax software and technology provider, announced a partnership with Shopify. The partnership will enable enterprise merchants using Shopify Tax to automate tax calculation and compliance on a global scale. Vertex states it’s the first global tax technology partner to join Shopify Tax, offering businesses a unified global solution to streamline the complexities of cross-border indirect taxation.
Google Releases SMB Features to Help Merchants with The Holiday Season
Merchants on Google now have the option to designate themselves with a “small business” attribute on both Google Search and Google Maps. Small businesses utilizing Merchant Center or Business Profile, including those using Google and YouTube apps on Shopify, can include this attribute to their account.
In addition, Google is introducing Product Studio to all Merchant Center Next users, featuring a scene generation capability that utilizes text-to-image generative AI to position products within various creative settings.
TikTok Announces Integration for Advertisers Using Salesforce Marketing Cloud
TikTok has unveiled a lead generation integration for Salesforce Marketing Cloud. The no-code integration enables TikTok advertisers to transfer leads directly to Salesforce Marketing Cloud, a platform for companies to deliver personalized and relevant experiences across touchpoints with AI and first-party data. Leads captured on TikTok sync to Salesforce Marketing Cloud in real-time. Sales and marketing teams can instantly access leads in Salesforce Marketing Cloud for prompt follow-up and personalized engagement.
UPS to Acquire Happy Returns for Reverse Logistics
UPS has agreed to acquire Happy Returns, a U.S.-based software and reverse logistics company, enabling no-box, no-label returns for merchants and consumers. Users can access a returns website, make a box-free return at a convenient nationwide location, and have their items shipped, sorted, and returned to the merchant.
Spotlight
Amazon to Sell Hyundai Cars
By 2024, Amazon’s U.S. store will feature vehicle sales by auto dealers, beginning with Hyundai. In a multiyear partnership, Hyundai will transition its on-premises applications to AWS, accompanied by a joint initiative to train Hyundai engineers in essential cloud skills. From 2025 onwards, customers buying Hyundai vehicles will enjoy a hands-free Alexa experience.
Amazon Adds Buyer Benefits to Its Offsite “Buy with Prime” Program
This holiday season, Amazon enhances its Buy with Prime feature, offering Prime members 24/7 live chat support, streamlined order tracking, and convenient returns at drop-off locations.
For sellers, Buy with Prime becomes a powerful tool for customer acquisition, with initial results indicating three out of four orders coming from new shoppers. HydraLyte reports an even higher success rate, with nine out of ten orders from new customers.
These updates align with Amazon’s commitment to invest in features that enhance the shopping experience, promising heightened customer confidence, improved tracking, and a smoother returns process for eStore owners.
Meta Lets Users Purchase on Amazon Without Leaving Facebook or Instagram
The integration of Amazon accounts with Meta, enabling direct purchases from Facebook and Instagram ads, presents both opportunities and considerations for Amazon sellers. This streamlined shopping experience offers enhanced visibility and potentially higher conversion rates as users engage seamlessly within social media apps.
Sellers must adapt their advertising strategies to stand out in the competitive social media landscape. While this integration improves the overall customer experience, the ability for users to unlink accounts introduces uncertainties, requiring sellers to navigate potential fluctuations in user engagement. Overall, this development signifies a valuable avenue for sellers to broaden their audience reach and potentially boost sales.
Viably Secures $50 Million for Financing to Amazon Sellers.
Viably, a financing provider for ecommerce businesses, has unveiled the Viably Wholesaler Accelerator, a specialized working capital solution designed to assist wholesalers in funding and managing their operations on Amazon. This initiative is supported by a $50 million debt financing facility provided by Viola Credit.
Amazon Business Adds Affirm As Its First Buy Now, Pay Later Option at Checkout
Amazon and Affirm have revealed an extended collaboration, marking Affirm as the inaugural pay-over-time choice accessible at the checkout on Amazon Business. This allows customers to divide the total expense of qualifying purchases and spread payments over time through Affirm, all without incurring late or concealed charges.
Small business proprietors can expect an immediate credit decision and choose from three to 48 months of personalized pay-over-time plans.
Amazon Says It Will Run Shopping Ads On Snap
Amazon announced that Snapchat users in the U.S. can now make direct purchases within the Snapchat app. This partnership facilitates shopping directly from Amazon ads on Snapchat, allowing users to complete transactions without exiting the app.
Amazon assures that potential buyers will have access to real-time pricing, Prime eligibility, delivery estimates, and product details through specific Amazon product ads on Snapchat.
Market insight
U.S. Retail Ecommerce Sales Q3 2023
The Census Bureau of the U.S. Department of Commerce has released quarterly figures for domestic retail ecommerce sales. In Q3 2023, ecommerce sales amounted to $281.1 billion, reflecting a 2.3% growth over the previous quarter. As defined by the Department of Commerce, eCommerce sales cover goods and services where the buyer places an order or negotiates the price and terms of the sale over the Internet or other online systems. Payment may or may not be made online.
The Department of Commerce’s estimated total retail sales, encompassing both online and in-store transactions, for Q3 2023 reached $1,825.3 billion, indicating a 1.5% increase from Q2 2023.
In Q3 2023, ecommerce made up 15.6% of the total retail sales in the United States, a slight increase from the previous quarter’s figure of 15.5%. This indicates a continued significant presence and influence of ecommerce in the overall retail landscape.
According to the Department of Commerce (DoC), the estimated U.S. ecommerce retail sales in Q3 2023 demonstrated a growth of 7.6% when compared to the same quarter in 2022.
In contrast, the total quarterly retail sales experienced a 2.3% annual increase during the same period. This highlights a notable surge in ecommerce retail sales compared to the overall retail sector’s growth.
Conclusion
In wrapping up the November 2023 eCommerce Digest, it’s apparent that the industry is undergoing significant shifts. Amazon’s Buy with Prime upgrades promise enhanced convenience, while the integration of Amazon accounts with Meta platforms opens new opportunities for sellers amidst social media dynamics. Paysafe’s collaboration with Visa emphasizes the commitment to secure online payments in Europe. As we enter the holiday season, these developments highlight the necessity for adaptability in meeting evolving consumer expectations. The industry’s focus on user-centric experiences and seamless transactions showcases eCommerce’s ongoing evolution.
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