Ecommerce & Marketplaces Newsletter – Jan 13th, 2023
Welcome to another action-packed edition of our Weekly Newsletter – Ecommerce & Marketplaces. We start this edition with the exciting news of our new strategic partnership with Logicbroker. This partnership will help both customers of McFadyen Digital and Logicbroker with a wide range of services that includes marketplace management, drop ship fulfillment, and supply chain experience management. It aims to deliver best-in-class Supply Chain Experience Management (SCXM) services to enterprise retailers and brands. This year’s National Retail Federation Big Show is going to be incredible. McFadyen Digital is a proud sponsor throwing a social shindig on Sunday night with some amazing partners and sponsoring an awards category at Friday night’s Vendors in Partnership LLC Awards at Gotham Hall. We will bring you all the lowdown next week; in the meantime, RetailTouchpoints has a curtain raiser on the show that promises to showcase innovative consumer products and workforce solutions. There’s new legislation in town! According to the recently passed INFORM Consumers Act, online marketplaces like Walmart, Amazon, and eBay will now be required to verify the identity and contact information of “high-volume” third-party sellers. The legislation defines high-volume sellers as those who have made 200 or more sales in 12 months worth $5,000 or more. The INFORM Consumers Act will be implemented by the Federal Trade Commission (FTC), and violations will be subject to civil penalties. Read our GeekSeller story to gather more details. Amazon’s ‘Buy with Prime’ service launched in April of 2022 on an invite-only basis is now being made available to eligible U.S.-based merchants by January 31, 2023. U.S. Prime Members can now shop directly from a merchant’s online store with the trusted experience they are accustomed to from Amazon.com. eSeller 365 story has more details. Did you know high-quality, visually appealing photos can make the difference between a customer clicking “add to cart” or moving on? Inc.com presents an insightful piece that provides some great photography tricks of the trade to make the products pop. The bottom line is that if you’re looking to take your e-commerce business to the next level, invest in high-quality photography. Forbes shares three significant trends that will shape the eCommerce industry in 2023. Read this and more in this week’s edition.
Notable news from the past week
‘Marketplace Evolutionaries’: McFadyen Digital And Logicbroker Form Strategic Partnership
McFadyen Digital and Logicbroker are proud to announce a joint strategic partnership to deliver best-in-class Supply Chain Experience Management (SCXM) services to enterprise retailers and brands. The partnership will provide Logicbroker and McFadyen customers with a range of services including marketplace management, drop ship fulfillment, and supply chain experience management. Combining McFadyen’s strategic and technical implementation expertise with Logicbroker’s revolutionary API-driven eCommerce platform and scalable solutions, can help evolve any enterprise retailer or brand’s online buying experience in a meaningful, evolutionary way.
NRF Big Show to Spotlight Innovative Consumer Products and Workforce Solutions
Everyone in the retail industry knows January means two things: lots of holiday returns and the venerable NRF Big Show, running Jan. 15-17, 2023 and featuring more than 950 exhibitors and 100 educational sessions. High-profile speakers for the event at New York City’s Javits Center include Olympic gymnast Simone Biles, actor and writer Kal Penn and a host of retail industry heavyweights including Macy’s Jeff Gennette, Target’s Brian Cornell, Kroger’s Rodney McMullen, LVMH’s Anish Melwani and Neiman Marcus’ Geoffroy van Raemdonck. Additionally, Lowe’s Marvin Ellison will be honored with the NRF 2023 Visionary Award.
The INFORM Consumers Act Passes, Requiring Online Marketplaces to Verify Sellers
Online marketplaces such as Amazon, eBay, and Etsy will now be required to verify the identity and contact information of “high-volume” third-party sellers, according to the recently passed INFORM Consumers Act. This legislation, which was included in the year-end omnibus spending bill, defines high-volume sellers as those who have made 200 or more sales in a 12-month period worth $5,000 or more. In addition to verifying these sellers, the Act also directs online marketplaces to provide a hotline for customers to report suspicious activity, such as the posting of stolen, counterfeit, or dangerous products.
Amazon Opens ‘Buy With Prime’ Program to All Eligible Independent Merchants
Amazon launched its ‘Buy with Prime’ service in April of 2022 on an invite-only basis and announced on Tuesday that it is now making it available to eligible U.S.-based merchants by January 31, 2023. Buy with Prime is a new benefit for U.S. Prime Members enabling them to shop directly from a merchant’s online store with the trusted experience they are accustomed to from Amazon.com — such as fast & free shipping, a seamless checkout experience, and easy returns.
How To Make Products Pop: The Basics of E-Commerce Photography
Why is e-commerce product photography essential for your e-commerce store? As the online landscape becomes increasingly competitive, high-quality product photography is more important than ever for e-commerce stores. According to a report published by Slazzer on e-commerce product photography, it’s a specialized field requiring the right equipment and approach for creating the right impact. With the correct setup, you’ll be able to take clear, well-lit and professional-looking product photos, which is the core of any visual marketing. Here are the basics of what you need to get started in e-commerce photography, from the right camera to the proper lighting.
More Core Industries Go Hard Core for B2B Digital Commerce
Billtrust found in a survey of more than 500 sellers that ecommerce now accounts for at least one-half of all sales in five key industries. Billtrust found that B2B buyers want ease of ordering and shipping speed more than any other digital features. The survey also reveals that 88% of wholesalers and suppliers for these five industries have deployed an online ecommerce ordering option.B2B ecommerce continues to make significant inroads into some of the oldest segments of the industrial United States, says a new research report from Billtrust.
Three Major Trends That Will Shape E-Commerce In 2023
For many businesses, 2022 could not end sooner. The U.S. entered a recession last summer, and although inflation has shown some signs of easing, the price of everything from renting a home to weekly shopping is still high. The good news is that if you’re in e-commerce, you’re much better placed than most to deal with this market turbulence. While the record spikes in e-commerce sales of 2020 and early 2021 have slowed, the sector continues to grow. Department of Congress figures show that U.S. e-commerce grew 10.8% in Q3 2022, and more than 20% of consumer spending from July-September happened online. But as always, with growth comes competition. To stay ahead of the game, focus on these core areas that are likely to drive e-commerce in 2023 and beyond.
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