The lead story this week is “Embracing Composable MACH Architecture When Replatforming Retail Ecommerce” a McFadyen Digital blog article about the importance of considering a MACH-based composable approach when seeking to re-platform a retail ecommerce site. The Microservices-based, API-first, Cloud-native, and Headless approach of MACH means the architecture is designed to have the absolute best solution available at every stage of the customer and fulfillment journey. The MACH Alliance, an organization McFadyen joined four years ago at its founding, is pushing the notion of composable commerce forward and is a great resource when replatforming an ecommerce site.
Another huge story this week was, of course, Amazon Prime Day. Retail Dive reports how the record $14.2 Billion haul wasn’t driven by the typical big-ticket items, but rather more practical purchases like back-to-school and bulk staple items. Similarly, MarTech covers the 11% uptick in Prime Day sales YoY and dives into some predictions for the coming holiday season.
Speaking of ecommerce and marketplace trends, Forbes brings us 35 useful statistics related to ecommerce in 2024, Signifyd has published their Ecommerce Consumer Price Index, and Mirakl dropped the eagerly anticipated 2024 Marketplace & Dropship Index. All of which speak to a heavily competitive environment in both the retail and B2B sectors where the winning players are willing to go all-in creating seamless multichannel shopping experiences for their customers.
Closing out the Ecommerce & Marketplaces newsletter this week is a tale of how Temu and SHEIN snuck up on Amazon, as told by CMSWire, as the disruptor becomes the disrupted and around and around we go. Enjoy the articles and see you next week.
Embracing Composable MACH Architecture When Replatforming Retail Ecommerce
According to a recent report by Forrester, companies that replatform every three to five years see a 30% increase in customer satisfaction and a 25% increase in conversion rates. This underscores the necessity for retailers to periodically evaluate and upgrade their ecommerce platforms to stay ahead of the curve. Replatforming is more than just a technical upgrade; it’s a strategic move that can redefine the customer experience, streamline operations, and drive revenue growth. In this context, the approach known as composable commerce is gaining significant traction. Defined by the MACH (Microservices-based, API-first, Cloud-native, and Headless) Alliance, composable commerce offers a flexible, scalable, and future-proof solution for modern retail needs. McFadyen Digital, a founding member of the MACH Alliance, stands at the forefront of promoting and implementing this innovative approach.
Shoppers find better deals this year as Prime Day fuels record $14.2B across e-commerce
Consumers avoided big-ticket purchases, but steep discounts drew in back-to-school shoppers and others — and not just at Amazon. Prime Day set a new record, as shoppers spent $14.2 billion on July 16 and July 17 across various e-commerce sites, up 11% from last year, according to Adobe Analytics data. Mobile shopping drove almost half (49.2%) of that, reaching $7 billion — 18.6% more than last year. Electronics, apparel and furniture, which normally drive nearly half of e-commerce, have seen low single-digit growth so far this year, but Prime Day was a catalyst for those categories, Adobe said. Over the two days, electronics sales rose 61% compared to average daily sales in June.
The top ecommerce trends from record-breaking Amazon Prime Day 2024
Big-ticket items like furniture and electronics benefited from deeper discounts as online buyers proved ready to pounce. Helped by some deep discounts, Amazon Prime Day, an annual two-day ecommerce event that ran July 16 and 17, generated a record $14.2 billion in U.S. online sales this year. That’s 11% more than last year, according to Adobe Analytics, which pulled data from 1 trillion visits to U.S. retail sites across 18 product categories.
35 E-Commerce Statistics of 2024
If you’re looking for a way to boost your sales and take your business to new heights, e-commerce should be on your radar. By pairing a strong web presence with the latest ecommerce platforms, you can broaden your offerings, increase your reach and remain open 24/7. These top e-commerce statistics for 2024 will give you a better idea of the power of online sales.
The market signals of today inform the way the world shops tomorrow
Signifyd’s Ecommerce Consumer Price Index dropped last month, mirroring inflation’s monthly decline across the U.S. economy. Shoppers continued to push U.S. online spending higher in June as ecommerce inflation improved even more dramatically than consumer prices overall, according to Ecommerce Pulse data from commerce protection provider Signifyd. June also saw the most dramatic slowing of U.S. inflation overall in three years, according to the Bureau of Labor Statistics, with the month-to-month inflation rate declining 0.1% and the Consumer Price Index rising only 3% year over year.
Mirakl Announces 2024 Marketplace and Dropship Index
Marketplace and Dropship platform business innovation, announced its 2024 Marketplace and Dropship Index, that includes a detailed analysis of 118 global retail marketplaces and dropship platforms, representing more than $6 billion in marketplace and dropship sales, more than 66,000 third-party sellers, and just under 200 million unique products. Businesses feel the pressure to maximize profits by refining their operations across brick-and-mortar and eCommerce channels. Sellers and suppliers are the backbone of marketplace and dropship businesses. Last year saw an impressive 18.9% surge in the number of active sellers across various marketplaces.
How Shein and Temu Snuck up on Amazon
In the fall of 2020, Amazon looked unstoppable. The pandemic lockdowns had supercharged its ecommerce business, and executives were busy hiring an army of new workers and expanding the number of Amazon fulfillment warehouses across the U.S. But the tech giant would soon face the biggest threat to its online shopping empire in recent memory, and it would come from an unlikely place: China.