Ecommerce & Marketplace Newsletter - July 12, 2024
Our lead story in this latest edition of the Ecommerce & Marketplaces Newsletter sees McFadyen Digital reacting to 欧睿 's recent “Retail Reinvention: A Framework for Future Growth,” report, calling out key findings such as the trends towards channel diversity, sustainable values-based buying, and the emergence of new business models. Check out the blog post and the report for more insights.
Other top stories include Retail Dive reporting that eBay is finally accepting Venmo as a payment method, capitulating to long time PayPal rival in a nod to consumer convenience winning out. Etsy , as reported by FastCompany , is also paying mind to the consumer by forcing sellers to disclose their role in an item's production, adding clarity to the listings. 沃尔玛 is also handing out consumer W's in the form of 1/2 priced Walmart+ (their Amazon Prime fighting offering) memberships in advance of #PrimeDay next week.
Check out the full newsletter for these stories and more from Digital Commerce 360 , P4 Markets, and CMSWire ...
McFadyen Digital
The retail landscape is undergoing a profound transformation, driven by digitalization, evolving consumer expectations, and the emergence of new business models. Euromonitor International’s report, in conjunction with the National Retail Federation, titled “Retail Reinvention: A Framework for Future Growth,” provides invaluable insights into these changes, highlighting the opportunities and challenges for retailers aiming to thrive in this dynamic environment. In this blog post, McFadyen Digital CMO Thomas Gaydos reacts to the Euromonitor report, calling out it's key findings.
Retail Dive
After dropping American Express, the marketplace said it will accept payments through Venmo — a digital tool popular among Gen Z and millennials. When eBay announced it would drop American Express it insisted that it would expand options for its customers, but offered few details. It later provided a clue with a blog post announcing that eBay users will soon be able to pay with Venmo. The move comes almost exactly three years after eBay ended it’s partnership with Venmo’s parent company Paypal.
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FastCompany
Etsy is adding news tags to products to further clarify a seller’s role in the creation process. The online marketplace is requiring all items to be listed as either “made by a seller,” “designed by a seller,” “sourced by a seller,” or “handpicked by a seller.” For example, a seller who finds vintage shirts would fall under the “handpicked” umbrella, while a ceramic vase from a pottery studio would be listed under the “made by” label.
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RetailWire
Although Walmart’s members-only sales event has ended and Amazon’s Prime Day is still a week away, the fierce competition between these two retail giants continues at full speed. According to Business Insider, Walmart is offering Walmart+ memberships for $49 annually, a 50% discount from the regular $98 fee, until July 18. This promotion strategically leads up to Amazon’s Prime Day event, which is scheduled for July 16 and 17.
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CMSWire
Give it five years: most of our favorite brands will adopt generative AI in ecommerce as the primary way for consumers to shop digitally. The Gist: 1) Consumer shift. Traditional ecommerce is evolving into conversational commerce. 2) AI impact. Generative AI in ecommerce will change how consumers shop and brands interact. 3) Tracking KPIs. Monitoring AI-driven shopping experiences is essential for growth.
P4 Markets
Online marketplaces have established themselves as crucial players in the pet industry by offering a convenient and comprehensive way to purchase a wide variety of products. From food and toys to specialized health products, the range is nearly limitless, allowing consumers to compare prices and read reviews. Particularly during the COVID-19 pandemic, online shopping has gained importance as many pet owners appreciate the safety and convenience it provides.
Digital Commerce 360
At Johnson Controls, B2B ecommerce is bringing a blast of fresh air to the building control systems manufacturer’s sales of residential HVAC systems to installation contractors. The manufacturer is expanding its network of company-owned physical stores to engage customers of its York HVAC systems in local U.S. markets underserved by third-party distributors, and each new physical store has a dedicated B2B e-store at YorkNow.com with content customizable to local market demand.