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Ecommerce & Marketplaces Newsletter – Jan 26th, 2024

In this edition, Webhelp talks about the rapid rise of marketplaces and the four new vital retail trends to watch out for in 2024. It looks at some of the trends behind the marketplaces boom and how the retail industry is reshaping itself around the rise of marketplaces. The economic prospects for online marketplaces have significantly improved, fueled by the pandemic’s impact on consumer habits a few years ago, and have grown more attractive ever since. The convenience of shopping from the comfort of one’s home has led to the growing popularity of online marketplaces among consumers. The report “The Online Features Driving Consumers to Shop With Brands, Retailers or Marketplaces,” a joint effort by PYMNTS Intelligence and Adobe, reveals that a substantial portion of consumers, about 80%, report high satisfaction with shopping online marketplaces. This satisfaction rate surpasses those who shop from retailer websites (76%) or brand websites (72%). Online marketplaces rank among the most effective digital marketing platforms available. Following the ascent of major players like Amazon, eBay, and Alibaba, brands have been eager to succeed, compete, or risk being outperformed on these digital storefronts. Mayple’s blog has a great how-to guide on selling your products on the web in 2024. The success or decline of online businesses is heavily influenced by their search engine rankings, making search engine optimization (SEO) a critical focus for marketers seeking a competitive edge. Recently, there has been significant excitement about the role of artificial intelligence (AI) in transforming various industries, with content marketing being a prime example of this potential revolution. Optimonk blog shows how to use AI SEO to improve your ecommerce Business. The commercetools blog delves into the changing landscape of technology cost management, emphasizing key metrics beyond the traditional framework of total cost of ownership (TCO). Read this and other great stories in this week’s edition.

Notable news from the past week

The Rise (And Rise) of Marketplaces: 4 Key New Retail Trends to Watch Out For

The rapid emergence of online marketplaces is continuing to reshape the retail industry. In this article, Christophe de Sahb, our in-house marketplace specialist, looks at some of the trends behind the marketplaces boom and how the retail industry is reshaping itself around the rise of marketplaces. He’ll look at what’s changing and why it matters from a CX perspective, for everyone from brand manufacturers to sellers and retailers. Ever since the pandemic reshaped the e-commerce landscape, retailers have come to fully embrace the huge potential of marketplaces. Turbo-charged by the pandemic’s effect on consumer behavior a few years ago, the economic outlook for online marketplaces has only become more lucrative in the years since.

8 in 10 Consumers are Highly Satisfied With Online Marketplace Shopping

The convenience of shopping from the comfort of one’s home has led to the growing popularity of online marketplaces among consumers. As detailed in “The Online Features Driving Consumers to Shop With Brands, Retailers or Marketplaces,” a PYMNTS Intelligence and Adobe collaboration, a significant share of consumers — approximately 80% — express high levels of satisfaction when shopping from an online marketplace, higher than those who shop from retailer sites (76%) or brand websites (72%). According to the report, which drew insights from a survey of over 3,500 U.S. consumers to explore their actions, choices, and behaviors when shopping online, this higher satisfaction rate among online marketplace shoppers may be attributed to their utilization of more online capabilities, on average, compared to shoppers on brand or retailer sites.

Online Marketplaces: The Best eCommerce Guide on How to Sell Your Product On The Web in 2024

Online marketplaces are some of the best digital marketing channels known to man. Since the rise of giants like Amazon, eBay, and Alibaba, brands have rushed to thrive, compete, or be beat on these online storefronts. More and more brands are expanding to online retail websites to diversify their sales channels. And eCommerce is growing at almost double the rate of traditional retail. Retail sales are expected to grow at 6%-8% this year, while e-commerce sales are expected to grow at 14%. If you’re an eCommerce manager or online store owner or even a junior marketer you need to get some online marketplace skills in your tool belt. So today I would like to share with you a quick breakdown of some of the top marketplaces, strategies for success, and the tools you need to blast off.

For E-Commerce, The AI Revolution Is Ahead Of Schedule

By now we’ve all read endlessly about the disruptive potential of artificial intelligence (AI). Tools like ChatGPT are helping organizations in a wide variety of industries to accelerate workflows and increase productivity. E-commerce is no exception; we should expect generative AI to completely change the way companies create and optimize product descriptions and other content. There’s no going back. But while online retailers are actively exploring the potential of ChatGPT and other tools to enhance their performance, it would be wrong to say we’re only just now reaching a turning point for AI in e-commerce. Beyond these emerging tools, e-commerce retailers already have access to a collection of mature AI solutions that can streamline and scale their operations.

How to Use AI SEO to Improve Your Ecommerce Business

Online businesses thrive or fade away based on their search engine rankings. That’s why SEO marketers are all about finding an edge when optimizing content. Recently, there’s been a lot of hype surrounding the potential of artificial intelligence (AI) to revolutionize countless industries, and content marketing is no exception. AI can help generate blog ideas, research niche topics, build internal links, and identify high-ranking keywords… all of which can improve your SEO efforts and boost organic traffic. In this article, we’ll introduce AI’s role in SEO strategies, show you how to use AI SEO to enhance your e-commerce business and explore helpful AI-powered SEO software. Artificial Intelligence (AI) refers to a group of technologies that use computers to simulate human intelligence on particular tasks. Some of these technologies include machine learning, natural language processing, computer vision, and robotics.

Amazon Adds an AI Shopping Assistant

Amazon has added an AI-powered shopping assistant customers could use to ask questions about the products. It is Amazon’s first move in the AI arms race. The section “Looking for specific info?” on a product page, which previously searched in reviews and customer questions and allowed submitting new questions that sellers or other customers could answer, is now powered by AI on the iPhone/Android app. It relies on the product details and reviews ingested by a large language model (LLM) to respond with AI-generated answers to practically every imaginable question. For example, when viewing a sports shirt, customers can ask, “Is this shirt good for running?” or “Is this shirt made from a thick material?” or even “Does it fit someone 6‘7” tall?” The response is a text answer to that specific question. It is intended to replace reading individual reviews by summarizing their information for the features a shopper cares about.

The Business Value: How to Lower Your Commerce TCO

In today’s dynamic economic landscape, the management of technology expenses has become increasingly critical. This imperative is driven by the crucial need for scalability, adaptability, and innovation. Businesses are grappling with the complex challenge of optimizing their technology expenditure while simultaneously maintaining a balance that supports continuous innovation. This blog explores the evolving world of technology cost management, highlighting essential metrics that extend beyond the conventional total costs of ownership (TCO) framework. Furthermore, it examines how composable commerce emerges as a strategic approach to reduce the costs associated with first-gen SaaS platforms.


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