Ecommerce & Marketplaces Newsletter – Feb 17th, 2023
Welcome to the 92nd edition of our Weekly Newsletter – E-commerce & Marketplaces, your weekly source for the online marketplace and eCommerce best practices, news, and actionable insights. We kick off this edition with extensive coverage of the NAW Executive Summit 2023. The event saw innovators and industry stalwarts examining industry insights and trends in the changing technology landscape. There were some fantastic sessions spread over three days of the event that explored the best practices and strategies the leading distributors are using to improve sales efficiency and best set the table for long-term profitable growth. Read our McFadyen blog to gather more details. Cloudflare mitigated a record-breaking 71 million request-per-second DDoS attack over this week. The attacks were HTTP/2-based and targeted websites protected by Cloudflare. They originated from over 30,000 IP addresses. Some attacked websites included a popular gaming provider, cryptocurrency companies, hosting providers, and cloud computing platforms. The Cloudflare blog not only breaks this news but also provides some practical steps organizations could take to defend themselves against the next wave of DDoS attacks.
Adobe Experience Cloud blog looks at how enterprises are leveraging its API Mesh to transform business operations and lower organizational expenses. It has solid data on how API Mesh can optimize development operations and accelerate digital commerce transformation. Practical ECommerce has exciting numbers on top global marketplaces by the number of visits with SimilarWeb as its primary data source. It is primarily the usual suspects barring a few ones. PYMNTS has a new report, “Payments and Credentials Vaults: The Trust Factor,” which it created in collaboration with FIS. It surveys 2,180 consumers to learn more about their experiences with credentials vaults and who they would trust to provide them. Check out their blog to access this report. DC 360 reports that Valentine’s Day product searches on Amazon have been rising year over year. Amazon shoppers looked up “valentines day decor” 2.2 million times in January, up 51% year over year. It has data from Similarweb that lists the most popular products shoppers searched for as Valentine’s day gifts. commercetools has a fun infographic that informs the readers on what B2B buyers expect and increasingly demand. Read this and more in this week’s edition.
Notable news from the past week
NAW Executive Summit 2023 – Event Recap With Video
“NAW Executive Summit: The Next Frontier of Wholesale Distribution” is NAW’s premier event that is aimed at bringing together the best and brightest to discuss the current landscape of wholesale distribution, what’s on the horizon, and how to blaze through the trail for the next generation of wholesale distribution. The summit took place towards end of January in Washington DC, and saw participation from over 300 of our nation’s leading wholesaler-distributors.
Cloudflare Mitigates Record-breaking 71 Million Request-per-second DDoS Attack
This was a weekend of record-breaking DDoS attacks. Over the weekend, Cloudflare detected and mitigated dozens of hyper-volumetric DDoS attacks. The majority of attacks peaked in the ballpark of 50-70 million requests per second (rps) with the largest exceeding 71 million rps. This is the largest reported HTTP DDoS attack on record, more than 35% higher than the previous reported record of 46M rps in June 2022. The attacks were HTTP/2-based and targeted websites protected by Cloudflare. They originated from over 30,000 IP addresses. Some of the attacked websites included a popular gaming provider, cryptocurrency companies, hosting providers, and cloud computing platforms.
If you’ve never heard of API Mesh, it might sound as futuristic as a flux capacitor. The good news is companies don’t have to jump into the future to use it. Available to deploy today, this technology is expected to transform business operations and lower organizational expenses. While that sounds great, you might be wondering how Adobe API Mesh can drive tech modernization and where it fits in MACH architecture. Let’s dive into the details of this technology and explore its benefits.
Charts: Top Global Marketplaces by Number of Visits
Online marketplaces worldwide are booming. What follows are charts of B2C marketplaces ranked by the number of visitors worldwide and for select countries. With an average of 5.3 billion monthly visits in July 2022, Amazon was by far the most widely used online consumer marketplace in the world, according to Statista. eBay had the second-most monthly visits at roughly 3 billion.
In recent years, friction in the payments process has remained despite attempts to make payments as seamless as possible. Most consumers would rather not reenter payment card information each time they make an online purchase or when they replace a lost or stolen card. Credentials vaults promise to provide simpler payments experiences, and providers must show consumers that these vaults can make it happen. “Payments and Credentials Vaults: The Trust Factor,” a collaboration with FIS, surveys 2,180 consumers to learn more about their experiences with credentials vaults and who they would trust to provide them.
Searches for “valentines day decor” increased 51% year over year in January 2023. Searches grew to 2.2 million, making it the most popular search, according to Similarweb Shopper Intelligence data. “Valentines day gifts” was the next most popular search with 1.7 million. That’s up 74% year over year, according to Similarweb data. Valentine’s Day-related searches on Amazon.com took the No. 1, No. 4 and No. 11 spots in January, according to Similarweb estimates. Lingerie for women made it into the top 15 product searches as well, which Similarweb said might have Valentine’s Day implications. These rankings are based on a Similarweb Shopper Intelligence analysis of traffic to the main Amazon.com website for the U.S.
Do B2B buyers expect suppliers to offer digital commerce capabilities? Are consumer-like experiences actually important for them? Is personalization in B2B relevant at all? The answer to all these questions is a resounding YES. More than ever, B2B buyers expect their eCommerce experiences to be sophisticated and seamless. If B2B eCommerce is on your radar in 2023, get to know what B2B buyers expect — and increasingly demand — as the foundation for your digital transformation strategy.
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