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Ecommerce & Marketplaces Newsletter – April , 2024

In this edition, Algolia digs into how three ecommerce retailers Everlane, Oh Polly and Zenni have gone above and beyond to bolster their bottom lines with a recent blog. Other articles covered include: TechCrunch covering YouTube’s announcement about launching three new features; EMarketer’s piece on how Apple’s new AI model could fuel mcommerce growth; plus many interesting items in Marketplace Pulse, TechNode, DigitalCommerce360, NRF and News.com. #onlinemarketplace #ecommerce #circularmarketplace #digitalmarket #composablecommerce #aiinecommerce #retail #shoppable #marketplace #newsletter

Notable news from the past week

Buy With Prime Is Not Ubiquitous but Growing

Buy with Prime allows shoppers with a Prime membership to shop on e-commerce websites other than Amazon and check out using their Amazon account. The service grew slowly after launching in April 2022 because Amazon had no integration with Shopify, the hosting platform for the largest pool of e-commerce brands. After announcing a partnership with Shopify and launching a plugin for their merchants, the previously confusing integration became painless and quick.

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How Apple’s new AI model could fuel mcommerce growth

Earlier this month, Apple unveiled a new AI model, called the ReaLM system, which can recognize and pull out phone numbers or recipes from on-page images, or respond to a request to call “the bottom one” when users are presented with a list of local pharmacies. While Apple has not confirmed whether ReaLM will be integrated into Siri or other Apple products, the commerce implications are clear, particularly for mobile users.

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How 3 retailers are using AI-powered search and discovery to crush their numbers

How are your conversion rates? The average ecommerce store conversion rate is 2.5–3% — if you’re in that range, you’re not alone. But wouldn’t it be great to break away from the pack? Say, get to 5% or higher? You can get serious about that goal by improving your search and discovery user experience with AI-aided technology. In this blog by Algolia, they dig into how three ecommerce retailers Everlane, Oh Polly and Zenni have gone above and beyond to bolster their bottom lines.

We “stepped on our own foot” in recent years, admits Alibaba chairman Joe Tsai

Alibaba’s chair Joe Tsai commented that by not focusing on truly creating customer value, they had “stepped on our own foot” in recent years, when explaining why he thought the e-commerce giant had been “falling behind”. Tsai’s remarks were made in an interview with Nicolai Tangen, chief executive of Norway’s Norges Bank Investment Management, at a time when the Chinese tech giant has undergone frequent organizational restructures.

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YouTube launches new Shopping features to help creators market products and grow their earnings

YouTube announced on Tuesday that it’s launching new Shopping features that allow creators to curate shoppable collections, better plan their shoppable videos, quickly monetize older videos and more. The launch of the new features come as TikTok Shop is seeking to take on YouTube Shopping and other competitors in the space. TikTok is reportedly aiming to grow the size of its TikTok Shop U.S. business tenfold, to as much as $17.5 billion this year.

A Veteran eCommerce Leader Is Out As GM’s Chief Digital Officer

After four years on the job, the chief digital officer of General Motors Corp. is out. Edward Kummer, the former president of Nordstrom Rack and an experienced online retail leader, is no longer the chief digital officer, a GM media spokesperson has confirmed for Digital Commerce 360. As of the time of publication, General Motors has yet to name a replacement or disclose a timetable for securing a new chief digital officer.

Retailers close the loop on creating a circular retail economy (By Scot Case)

The future of retail is circular. A circular economy, according to the Ellen MacArthur Foundation, requires eliminating waste and pollution, regenerating nature, and keeping products and materials circulating through the economy at their highest and best use. It means reusing, repairing, repurposing and reselling products multiple times and recycling them into their component parts when they are no longer useful. It means redesigning products to be more durable and made from recycled and other environmentally preferable materials that are easily recycled or composted when they are no longer useful.

Chinese retail giant Temu responds after millions of Aussies warned

An Australian cybersecurity expert had raised concerns about the security risks shopping on these types of websites on Sunrise on Monday, with similar concerns being raised in the US and other countries. Temu told news.com.au it collects “the minimum information necessary” to manage and complete orders, deliver services and process payments, communicate with the user about their orders, products, and offers that might interest them, and personalize the user’s shopping experience and make product recommendations.

To subscribe to the Ecommerce & Marketplaces Newsletter, please complete the subscription form on this page (either to the right or below this article, depending on device). If you have any suggested content for this newsletter or would like to discuss evolving your organization’s digital commerce, please write to us at info@mcfadyen.com.

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