Marketplace Updates, October 2024 Edition

Stay Ahead with October's Marketplace Pulse!

This month, dive into the latest marketplace insights, emerging trends, and practical strategies curated to empower your growth. With CedCommerce’s October updates, discover fresh opportunities, expert advice, and the tools you need to thrive in today’s dynamic landscape. Don’t miss out on the knowledge that keeps you competitive. Ready to be in the know? Subscribe now and stay tuned for more monthly insights!

Amazon’s October Prime Day vs. Walmart Holiday Deals: What Sellers Need to Know

October brings two major sales events— 亚马逊 ’s October #PrimeDay (Oct 8-9) and Walmart Marketplace ’s Holiday Deals (Oct 8-13)—offering sellers a golden chance to boost sales and reach new audiences. #Amazon’s exclusive 48-hour sale attracts Prime members with deep discounts on top brands, while #Walmart’s event targets budget-conscious families with savings on toys, home essentials, and holiday decor. To succeed, sellers should optimize inventory and listings, use early deals and ads for visibility, and consider cross-platform selling for maximum reach. CedCommerce supports sellers in capturing these opportunities, having facilitated over 40K orders on Amazon Prime Day 2024 alone.

Just In – TikTok Shop Sales Data Analytics for 2024 That Sellers Need to Know!

TikTok Shop ’s remarkable growth since its September 2023 launch speaks volumes, with $1 billion in beauty and personal care sales and $621 million in womenswear. July 2024 alone hit $602 million, proving its momentum. For TikTok sellers, leveraging engaging video content, especially with micro-influencers, is crucial to drive sales in high-demand categories like beauty, fashion, and wellness. With holiday shopping around the corner, capitalizing on seasonal trends and hashtags can maximize visibility. CedCommerce’s TikTok Shop Connector streamlines operations, freeing sellers to focus on content and growth strategies. Data-driven insights help optimize engagement, ensuring steady sales success.

Amazon Unveils Next-Gen Advertising Solutions for Enhanced Campaign Performance at UnBoxed 2024

At unBoxed 2024, Amazon Ads unveiled new tools to empower advertisers by simplifying access to campaign insights across the marketing funnel. Notably, its new product campaigns feature helps brands engage customers in the critical first 90 days of a product launch, utilizing ad placements across Amazon properties. Other features include audience bid boosting to re-engage customers, a streamlined Amazon DSP experience, and enhanced no-code solutions in Amazon Marketing Cloud for detailed audience insights. With advanced multi-touch attribution and conversion path reporting, Amazon Ads is refining ad tech to optimize reach, improve customer acquisition, and drive measurable results across channels.

Walmart is All Set to Scale Artificial Intelligence, Generative AI, AR, and Immersive Commerce Experiences for Shoppers

Walmart is advancing Adaptive Retail with new technologies to deliver hyper-personalized shopping. By integrating AI, Generative AI (Gen AI), Augmented Reality (AR), and Immersive Commerce, Walmart aims to cater to customers’ individual preferences across its stores and virtual environments. According to Suresh Kumar Walmart's Global CTO, creating a unified technology platform enables swift adaptation across Walmart’s global branches. Walmart’s proprietary Gen AI and AI-powered customer support assist customers by predicting needs and streamlining tasks like returns. With a custom Content Decision Platform and the AR-driven "Retina" platform, Walmart is setting a global standard in personalized, interactive retail.

Marketplaces Drive 69% of Europe Cross-Border eCommerce Sales

In 2023, Europe’s cross-border eCommerce reached €326 billion, with 69% (€225 billion) generated through online marketplaces. Major platforms like the top 100 contributed €197 billion, reflecting a strong 39.29% growth over the previous year. This surge is driven by consumer demand for international products and the convenience of buying from abroad. Marketplaces have become vital for cross-border sales, balancing between direct-to-consumer and platform-based purchases. As #eCommerce matures, businesses aiming for international reach increasingly rely on these platforms, supported by advancements in logistics and marketing. The role of marketplaces will continue to grow in Europe’s cross-border trade.

OnBuy Announces 2024 EU Expansion and 2025 Entry into North America

OnBuy is gearing up for significant international expansion, targeting entry into 14 countries by late 2024, starting with the EU and North America in 2025. This growth follows eight years of UK success, with OnBuy expecting a tenfold growth surge. The platform’s lean, tech-first approach, bolstered by a recent Google Cloud partnership, enables quick scaling and efficient operations while enhancing seller and customer experiences. With a ￡2.5 million investment and features like cashback deals, OnBuy’s commitment to innovation and customer satisfaction positions it to challenge global eCommerce leaders and increase its market presence worldwide.

eBay Introduces Top-Service Label for Sellers in Germany

eBay has introduced a Top-Service label in Germany to help commercial sellers stand out by emphasizing their service quality. Replacing the eBay Guarantee and eBay Plus logos, this designation highlights reliable sellers who offer prompt shipping and transparency, enhancing trust without additional fees or registration. The label, visible across the site, aims to elevate the shopping experience, making trusted sellers more noticeable. To qualify, sellers must maintain top ratings, meet delivery standards, and offer free shipping within Germany. This initiative supports eBay’s competitive strategy in Germany, where Amazon is a key player, by boosting seller visibility and trustworthiness.

Daily Advance for TikTok Shop: A Cashflow Solution for Sellers

Storfund ’s partnership with TikTok Shop introduces the Daily Advance feature, providing sellers with immediate payments to tackle up to 60-day payout delays. This boosts cash flow, allowing TikTok Shop sellers more flexibility for restocking and growth through better financial management in livestream shopping. CedCommerce plays a key role by offering seamless multichannel integration, automating workflows, and aligning with fast payout solutions like Daily Advance. Sellers are encouraged to explore CedCommerce’s solutions for streamlined TikTok Shop integration and optimized cash flow. Discover CedCommerce’s multichannel solutions to scale your business and benefit from financing innovations like Storfund.

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