Ecommerce & Marketplaces Newsletter – Nov 26th, 2021
Happy Thanksgiving Wishes to all our readers. In this week’s edition, we look at some of the big stories from the world of digital commerce. In China’s Singles Day event, Alibaba and JD.com hit sales of around $139 billion, setting a new record. This comes on the heels of worries about the impact of Beijing’s crackdown on technology companies. Internet Retailing article talks about the rise in refund abuse that is costing the industry huge losses. Food delivery has borne the brunt, with 57% noticing an uplift in the past 12 months. Forbes has some insights on how B2B digital commerce has evolved post the pandemic. There has been a massive acceleration towards digitalization, with research showing close to 50% B2B purchasing taking place via digital mediums. If you as a retailer have been wondering between Walmart and Target Plus, which is more efficient and profitable for third-party retailers and better for your business, the blog from Thrive has you covered. Ship Bob’s blog helps you identify the key metrics you need to track in e-commerce analytics and the best tools that will help you gain a competitive edge. Read this and more in this week’s edition…
Notable news from the past week
Refund Abuse Hits New Heights for Online Marketplaces
Online marketplaces are experiencing a significant rise in refund abuse costing the industry huge amounts of money, research shows. Refund abuse, where customers overuse a company’s refund policy to the point of unprofitability, is rising across the board in the online marketplace world. Food delivery companies are particularly feeling the pinch, with 57% noticing an uplift in the past 12 months. 48% of ride-hailing app companies and 44% of goods and services companies have also seen a noticeable increase.
Brands: Monitor These Four Areas to Help Maximize Retailer Performance
Every As a brand, building a strong relationship with your retailers offers a massive opportunity when it comes to sales and discoverability. But with price-cutting, lack of control over listing quality, and inventory fluctuations, it’s hard for brands to harness that opportunity and control results. In our recent webinar, which discussed the four pillars of e-commerce performance for retail partnerships and how to collect the data you need to manage that performance. We explain it in further detail.
“Over 50% of the gross market value for the top six ecommerce players in the world is on marketplaces,” Colin Lewis, CMO of OpenJaw Technologies and author of Econsultancy’s Third-Party Marketplaces Best Practice Guide, told attendees at Econsultancy Live this week. Despite the continuing domination of big retailer.com sites, and the rising trend for direct-to-consumer brands, “The bit that most people don’t realize,” said Lewis, “is that ecommerce is, pretty much, mostly marketplaces.”
The Evolution Of B2B Digital Commerce: From Simple To Sophisticated Selling
After almost two years of soaring digital demand thanks to the pandemic, the business world is starting to settle into more regular patterns of operation. However, there are some aspects of business that won’t ever go back to “normal.” One such area is B2B commerce. Though B2B purchasing was already following in the footsteps of B2C and moving online, the pandemic has massively accelerated its digitalization. Recent research finds almost half (49%) of all B2B purchasing is now conducted via digital channels.
Knowing how your business is currently performing is critical for every ecommerce retailer. Otherwise, you won’t know whether your existing strategies and processes are working or if your financial investments are yielding sufficient returns. That also means you won’t know if and when you’re doing something wrong or what you need to fix to improve your numbers. That’s why ecommerce analytics are vital if you want your DTC brand to grow. This post helps you identify the key metrics you need to track in ecommerce analytics and the best tools that will help you gain a competitive edge.
Retail giants Walmart and Target own two of the most viable online marketplaces today. If you’re planning to sell on Walmart Marketplace or Target Plus, you’re probably wondering which one to prioritize. Since 2019, both platforms have launched initiatives to chip away at the market share enjoyed by eCommerce powerhouse Amazon. Their efforts have proven effective. By Q2 2020, both hit an impressive quarter-over-quarter (QOQ) growth in online sales: Walmart’s rose by 97 percent and Target’s by 195 percent (Yahoo Finance, 2020). So, which is more efficient and profitable for third-party retailers? And which is better for your business?.
Alibaba, JD Smash Singles Day Record with $139 B4illion of Sales and Focus on ‘Social Responsibility’
Alibaba and JD.com racked up around $139 billion of sales across their platforms on China’s Singles Day shopping event, setting a new record. The record sales come despite worries about the strength of the Chinese consumer and the impact of Beijing’s crackdown on technology companies. Singles Day was a slightly more muted affair as Chinese technology companies continue to face scrutiny from regulators and President Xi Jinping pushes for so-called “common prosperity.”.
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