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Ecommerce & Marketplaces Newsletter – May 24 , 2024

In this edition, McFadyen Digital provides a recap of the recent b2b Online Chicago event. TechCruch covers Poshmark’s ‘Promoted Closet’ tool lets sellers boost all their listings at once. Ecommerce everywhere, TikTok and social video, and generative AI are the top three trends that retail marketers worldwide are watching this year according to eMarketer’s recent article. Read informative topics such as these along with news items from Reuters, Forbes, CMSWire, and Digital Commerce 360. #b2b #AI #ecommerce #commerce #digitalcommerce #onlinemarketplace #digitalmarket #retail #brands #marketplace #newsletter

Notable news from the past week

B2B Online Chicago 2024 Recap: AI, Channel Optimization, Digital Showrooms And More…

Held at the luxurious Chicago Marriott Downtown Magnificent Mile from May 6-8, B2B Online 2024 attracted hundreds of senior executives from leading manufacturers and distributors. The event focused on how businesses can leverage digital strategies to enhance customer experience, streamline operations, and drive growth. Attendees had the opportunity to engage in over 50 sessions, including keynote speeches, panel discussions, and interactive workshops, all designed to provide actionable insights and innovative solutions.

NewsletterLogo-Reuters

Shopify sues rival for copyright infringement over e-commerce platform

Canadian e-commerce provider Shopify (SHOP.TO), sued a subsidiary of Chinese technology company JOYY Inc (YY.O), in New York federal court on Tuesday, accusing it of illegally copying Shopify’s software to build its own e-commerce platform. Shopify said in the lawsuit, that JOYY’s Shopline created a “thinly disguised knockoff” of its Dawn storefront-template technology to power competing e-commerce services. District of New York, Shopify claimed that Shopline-a subsidiary of Chinese technology company Joyy Inc.-copied its Dawn program.

TechCrunch

Poshmark’s ‘Promoted Closet’ tool lets sellers boost all their listings at once

Poshmark, the social commerce site that lets people buy and sell new and used items to each other, launched a paid marketing tool on Thursday, giving sellers the ability to promote their entire shop at once. Poshmark’s new feature, called “Promoted Closet,” uses machine learning to automatically promote individual product listings from a seller’s entire inventory, identifying shoppers’ search terms and matching them with promoted items.

Forbes

Mid-Market Merchants And The Ecommerce Landscape

Statista data shows US ecommerce sales will reach an estimated $1 trillion by 2027, and ecommerce platforms that facilitate these online purchases are taking note. Adobe buying out Magento for $1.68 billion is just one of several examples where large-scale enterprises are acquiring ecommerce platforms to expand their reach in this space.

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The Future of Ecommerce: Creating Blended Experiences

According to Doofinder, there are more than 26.5 million ecommerce businesses, with approximately 14 million of those in the United States. In order to be successful, or even just keep the lights on, these brands will need to get creative and employ blended ecommerce strategies to drive customers through their funnel. Creating blended ecommerce strategies of digital and tactile is one approach already showing increases in revenue and could be key to future success.

Walmart grows Q1 revenue through online sales and high-income customers

Walmart Inc. announced May 17 that U.S. online sales grew 22% for its fiscal 2025 first quarter ended April 30, 2024. Global ecommerce sales grew 21% over the same period, while international ecommerce increased 19%. The retailer’s ecommerce penetration grew across all markets, CEO Doug McMillon said. That was partially due to growth among high-income customers, who turned to Walmart for convenience in the quarter.

Retail marketers name ecommerce, TikTok, generative AI as most important trends of 2024

Ecommerce everywhere, TikTok and social video, and generative AI are the top three trends that retail marketers worldwide are watching this year, according to a November 2023 MediaOcean survey conducted by TechValidate.

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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