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payment-providers · 4 years ago

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Retailers already discounting as Amazon Prime Day sets the mood for peak trading 2020

Next week’s Amazon Prime Day is set to signal the start of the 2020 peak trading season, analysts agree, although one warns that it could prove a lacklustre start. Data suggests that retailers are already discounting heavily ahead of the event, to be held on October 13 and 14. This year’s Amazon Prime Day, delayed from July, is being held across more countries than ever, with Turkey and Brazil taking part for the first time and among the 19 markets set to be included in the event.

eMarketer principal analyst Andrew Lipsman says this year’s Amazon Prime Day will stand apart from its predecessors. “Amazon Prime Day this year will be unlike any other since its debut five years ago. Against the backdrop of a pandemic and recessionary headwinds, this year’s event promises significant changes that will shake up the entire retail landscape heading into the holidays.

“Prime Day kicks off nearly three months later than its typical mid-July timing. This will result in a different focus: de-emphasizing products for summer and back-to-school, and making the event an early lead-in to the holiday season.”

He says the event operates, in practice, as a “huge membership drive” for Amazon Prime, since all deals are only available to signed-up members of the subscription scheme. “Prime Day lowers Amazon’s customer acquisition costs and increases customer lifetime value,” says LIpsman. “The company reported that last year’s Prime Day event delivered the highest-ever number of new Prime membership sign-ups over a two-day period.”

Other retailers are well placed to benefit from the event, says Brian Green, head of commercial sales, EMEA at Adobe. He suggests that Prime Day will set the level for the rest of the Christmas shopping season

Green says: “This Christmas, savvy shoppers will want to get the best discounts online and ahead of time, as Covid-19 creates uncertainty over high-street closures, dents consumer confidence, and wreaks havoc on retailers’ supply chains. Amazon Prime Day couldn’t come at a better time – the Christmas shopping season has unofficially begun.

“Whilst the online giant took the lion’s share of digital spend during the pandemic, retailers should take Amazon Prime Day as an opportunity to boost their own spend as we begin the Golden Quarter. Online shoppers might be eyeing up products on Amazon, but now more than ever, they’re doing their due diligence and checking prices on competing sites, too – especially as the majority are now working from home. Matching prices is one place for brands to start, but they can also ensure the online experience sets them apart. With great website design, personalised content and offers, friction-free payment and seamless delivery, they can benefit from Amazon’s halo effect at a time when they need it most.

“All eyes are now on the success of Amazon Prime Day in the UK and overseas. It will be the bellwether for the rest of the Christmas shopping season when it comes to online spend – retailers should take note of consumer behaviours and plan accordingly as notable key moments such as Black Friday approach.”

LovetheSales.com says it’s already seeing high levels of discounting among rival retailers as the two-day Prime Day event approaches. Its analysis suggests that the volume of online discounts is up by 23% this month, compared to last October. It says Currys PC World is leading the way with a 156% increase in the number of products that are discounted in October, compared to a year ago, followed by Argos (+105%) and AO.com (+78%). Consumer searches, meanwhile, suggest that sought after products will include the Nintendo Switch, Amazon Echo Dot, Amazon Kindle, and the KitchenAid Artisan Stand Mixer.

But it warns that Amazon’s sales during the event could fall well short of the £5.35bn it turned over last year.

Analysis from the discount marketplace suggests that online searches in the lead up to Prime Day are down by 44% in Amazon’s domestic US market, and by an even greater 54% in the rest of the world. It’s predicting that Amazon sales will fall by £2.63bn as a result.

Stuart McClure, co-founder of LovetheSales.com, said: “Prime Day sales have been increasing year-on-year for the past five years, according to Amazon. However, the etail giant has spent billions ingraining Prime Day as a July event. The data shows a steep drop off in either lack of awareness of lack of appetite for this year’s October Prime Day. And with Black Friday just around the corner, many shoppers might just give Prime Day a miss this year.”

This year’s peak trading is set to be very different from previous years. Customers who plan to buy online have already been warned to start shopping as early as they can since the shift to ecommerce that has already been seen this year is set to see an additional strain as peak starts.

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jackrgaines · 4 years ago

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How Will COVID-19 Impact eCommerce This Holiday Season? (3 Predictions)

The post How Will COVID-19 Impact eCommerce This Holiday Season? (3 Predictions) appeared first on HostGator Blog.

Retailers know that winter holiday gift shopping is what keeps the industry going, and until this year, holiday sales figures were on a roll, steadily climbing year after year.

Now, though, many consumers say they’re not sure if they’ll spend as much in 2020 as in years past. Some are already committed to spending less. And many say they’ve made big changes in how they plan to shop for holiday gifts this year.

Here’s what small online retailers need to know now about consumers’ holiday 2020 spending plans, popular gift categories and potential changes to major sales days. Use this info to plan your holiday season marketing, product selection, pricing, and promotions.

eCommerce looks different this year.

Ordinarily, the holiday season is the big event retailers spend all year preparing for. The sheer volume of site traffic, orders, and fulfillment requests pushes many sellers to their limit. Think of it as the big marathon you’ve been training for. But things are different now.

What’s changing? With many stores closed and people sheltering at home, everyday eCommerce volume is way, way up over previous years. Every day in April, for example, eCommerce sites overall had more traffic than they did on Black Friday 2019, the most popular shopping day of the holiday season. That’s like running a marathon a day since shutdowns began.

What do the changes mean? Does this mean your holiday season will be even bigger than in a regular year? Or will consumers tap out their budgets before the holidays? No one’s really sure yet, because factors like pent-up demand from consumers who’ve so far escaped financial damage may drive holiday sales.

However, it’s a safe bet that if your customers are already price-sensitive, they will be even more so this winter. In early 2020, 42% of consumers said they made their 2019 online purchases based on price, and 24% said they never paid full price online. That survey was taken when unemployment was at a 50-year low. Now, it’s close to 11%.

What you can do now

Review your metrics to see if

Your bestsellers have changed from more to less expensive items.

Your discount offers are getting more conversions than during the same time last year.

The price points on your customers’ most recent wishlist items have dropped.

This data can show you if your customers are scaling back their spending and searching for more deals. If so, they’ll probably expect great deals and the lowest possible prices during the holidays.

Focus on products that fit your customers’ price range and wishlist trends. And start planning your discount offers, free shipping, and other promotions to keep your holiday shoppers happy.

The holiday sales calendar might get weird.

In previous years, more than a third of consumers started their holiday gift-buying before November. But the long weekend that includes Thanksgiving, Black Friday and Cyber Monday accounted for a huge proportion of eCommerce and retail sales. This graph from the 2019 National Retail Federation holiday consumer survey shows how things usually go:

What’s changing? In-store Black Friday sales almost certainly won’t be anything like the crowded events of yesteryear. Macy’s, and presumably other retailers, are looking at buy-online, pickup-curbside options to reduce in-store crowding, and more shoppers may stick to buying online instead of returning to physical stores. That could mean even more website traffic on Black Friday and Cyber Monday.

The biggest unknown right now is when Amazon Prime Day will happen. From 2015 until last July, Prime Day was the biggest online shopping event of the summer, racking up more than $7 billion in sales in 2019. This year, the eCommerce giant has postponed Prime Day until the fall, possibly in early October.

What do the changes mean? What happens when you move a $7 billion, single-retailer sales event to the month before Black Friday? No one can say for sure, but if shoppers grab holiday gifts then, they may spend less on Black Friday and Cyber Monday.

What you can do now

Watch for Amazon’s announcement of its 2020 Prime Day date. Start thinking about promotions you could run at the same time as Prime Day, to encourage your customers to stick with you.

If you’re not already offering your products on Amazon as well as your own website, consider getting started so you can get in on the Prime Day frenzy, whenever it happens.

And now’s a good time to make sure your hosting plan can scale up to accommodate any surges in traffic this holiday season.

Bestselling product categories may change this year.

Some of the products that seem to always make the top 10 list for holiday gift-giving may not do as well this year. Consider this list from the NRF 2019 holiday consumer survey:

Clothing may still do well because of seasonal shifts and holiday traditions. Now more than ever, we need matching flannel pajamas for lounging at home in style, for example. Books and media, toys and food all seem like safe, comforting bets for holiday gifting.

What’s changing? Jewelry sales haven’t fared well since the start of the pandemic, with retailers ranging from Kay to Tiffany reporting big sales drops. It’s unclear whether shoppers will shift gears and treat their loved ones to jewelry during the holidays. Demand for cash has been dropping, too, since the CDC recommended that retail workers avoid handling it.

What do the changes mean? To avoid gifting cash, shoppers may buy more gift cards this holiday season. Gift cards are already gaining popularity with shoppers looking to support their favorite local businesses. Google has even added a way for shoppers to buy gift cards from retailers’ Google My Business profiles.

As for jewelry, sales aren’t down in all markets. Chinese shoppers are the bright spot for jewelry and other luxury brands right now, according to CNN Business, as their economy starts to recover from the initial impact of the pandemic.

What you can do now

Keep tabs on sales trends for each of your product categories as the holidays approach. Think about discounts and promotions that could boost slower-selling items you have in-stock. Offer gift cards and plan gift card promotions for the holidays.

If your store offers products that are selling slowly at home but faster abroad, you may want to start selling across borders to boost your revenue. International marketplaces can be an easy tool for building a customer base overseas.

What else do consumers expect when they shop for the holidays? Online stores that load fast, don’t crash and protect their data. If you need to upgrade your hosting plan, now’s the time. Get started with HostGator today.

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bracaza · 5 years ago

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UBTech drops Black Friday and Cyber Monday deals on codable robots

UBTech, the maker of the top holiday toy of the year, has just announced that it is dropping the biggest discounts ever on its line of codable kits at major online and physical retail outlets including on Amazon.com, Target.com, BestBuy.com and Walmart.com. UBTech will knock off the prices for the JIMU Robot Mythical Series: UnicornBot Kit, the Marvel Avengers: Endgame Iron Man Mk50 Robot and the recently released JIMU Robot Mythical Series: FireBot Kit and JIMU Robot Competitive Series: ChampBot Kit. These robots help enhance kids’ thinking skills. Perhaps the most important knowledge to hone — aside from values taught at home and at school — are basic STEM skills: science, technology, engineering, and mathematics. These skills are the key academic disciplines that produce the next scientists, programmers, engineers and doctors. This year, UBTech’s Marvel Avengers: Endgame Iron Man Mk50 Robot topped the list of the 50 Best Holiday Toys to Gift after it was unveiled in April. This Iron Man collectible is more than just a toy. You can control the robot's motors, lights and sounds using a mobile device. When it was released, it was priced at $289. Now, UBTech has dropped the price to $199 for Black Friday on November 29. UBTech is also slashing the price for the JIMU Robot Mythical Series: UnicornBot Kit, a radiant white unicorn with purple tail and mane that kids can program to see its LED horn change colors. From its release price of $119.99, UnicornBot will only cost $89.99 through the deal on November 29. During Cyber Monday on December 2, parents and kids can check out the deals on the recently launched JIMU Robot Mythical Series: FireBot Kit and JIMU Robot Competitive Series: ChampBot Kit. The JIMU ROBOT Mythical Series: Firebot Kit was released at $129.99 back in October. On Cyber Monday, shoppers can purchase it for only $99.99! Kids from age 8 and up will be able to code the dragon-looking Firebot robot via the JIMU Robot app that's available for iOS and Android devices. The app features step-by-step, 3D and 360° instructions to help kids build all 606 pieces together. The pieces include two different sets of wings for customization. Users can program the Firebot's LED snout to glow red or blue. The other deal on Cyber Monday is on the JIMU Robot Competitive Series: ChampBot Kit. It was released alongside the Firebot at $129.99. On Cyber Monday, you can score it for only $99.99. As with the Firebot robot and all the other JIMU robots, the Champbot Kit requires no tools to build. With the Champbot Kit, kids can build either Champbot itself or ScoreBot or BasketBot. If they are creative enough, they can also choose to build a robot of their own. Check out all of these deals on UBTech’s codable robots on Black Friday, November 29, and on Cyber Monday on December 2. They will be available on Amazon.com, Target.com, BestBuy.com and Walmart.com. Get ahead of the Christmas holiday shopping rush and check out all the Black Friday deals from major retailers like Walmart and Amazon. You can find all of Walmart's Black Friday 2019 deals in the official Walmart Black Friday 2019 Ad. The Amazon Black Friday 2019 deals are featured again in the popular Amazon Black Friday 2019 Deals list. See also the Black Friday 2019 ads from other stores. Follow all the updates on Black Friday 2019 on our official Black Friday Hub. We scan the online shops to bring you the newest releases and pre-orders. Our free Tracker app notifies you on your smartphone when the hottest toys and the newest consumer electronics including the new Nintendo Switch Lite are in stock online. You can also receive all in stock and deals alert on Twitter following @TheTrackerApp. If you can't find a hot product in stock, let us know and we consider adding it to the Tracker App. To stay up to date on the hottest releases and deals during Holiday 2019 Shopping season with the Black Friday 2019 and Cyber Monday 2019 sales events make sure to follow I4U News on Twitter or Google News. http://dlvr.it/RJwH9r

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simplemlmsponsoring · 6 years ago

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8 Digital Marketing Tips for Local Businesses to Rock Cyber Monday

Retailers in the US have two major holiday shopping dates that they deemed to be most lucrative – Black Friday on the day after Thanksgiving and Cyber Monday on the first Monday following the Thanksgiving holiday. As major retailers clamor to extend their discounted deals during the Thanksgiving weekend, Cyber Monday was created as a marketing tactic made by e-commerce retailers to persuade consumers to shop online.

Understanding Cyber Monday consumer behavior

As the biggest online shopping day of the year, Cyber Monday is starting to become the new Black Friday of the holiday shopping season. In fact, Rakuten Marketing reported that last year’s Cyber Monday sales overtook Black Friday sales by 68% with revenue and purchases up by 12%. The 2017 report attributed mobile sales as the key performance driver for the growth since mobile purchases went up by 32% with an increase of 37% in mobile revenues.

The surge in Cyber Monday sales is attributed to the changing attitudes and buying intentions of consumers toward shopping at stores for doorbuster deals during Black Friday and shopping online on Cyber Monday instead.

Research showed that while consumers enjoy shopping on Black Friday, they are more likely to shop and make an online purchase on Cyber Monday for greater convenience. The Monday after Thanksgiving now became the peak shopping day of the season as 58% of consumers who came to work after the holidays will most likely go online and shop while at work during office hours.

Rakuten Marketing CEO Tony Zito noted on the report:

“Brands should focus on new shopper acquisition strategies that can lead to repeat and loyal customers, capitalize on immediate sales opportunities, and establish shopper lifetime value.”

What does this mean for local businesses?

The evolving shopping habits of consumers during the holiday season can actually be a boon for local businesses to help them capitalize on the Cyber Monday phenomenon and gain loyal customers in the process. But first, let’s understand several key points to consider before jumping the gun on Cyber Monday promotions.

Several Cyber Monday promotions are launched before Monday. However, the major sales always occur on Monday morning.

As the holiday sales promotions keep on getting bigger and earlier, so does its online sales promotions and discounts. Early Cyber Monday deals usually occur during the Thanksgiving weekend, but a majority of retailers will wait until Monday morning to post the biggest discounts on their websites.

Major retailers often offer sitewide discounts.

It’s not surprising to see big e-commerce websites like Amazon to offer sitewide discounts from 40 to 50% off of their products on Cyber Monday. Apparel retailers will also most likely mark down their prices on this day.

Free shipping is a given incentive.

As an added perk for shopping on Cyber Monday, major retailers would often give a free shipping incentive with no minimum purchase required for online shoppers. Most retailers understand the need to give free shipping as a shopping enticement to make consumers consider buying something online for Cyber Monday.

Here’s how small businesses can leverage on Cyber Monday

Not all local businesses have the budget or even the manpower to start a full-blown campaign for the Thanksgiving holiday shopping season. However, there are still several ways to make the most out of the Cyber Monday phenomenon and make them work for you and your business. Here are several tips to help local businesses get started on crafting a digital marketing strategy for Cyber Monday:

TIP 1: Stay ahead of the curve by crafting an omnichannel strategy.

Local businesses need to realize that innovation is the key to longevity in the industry. One way of doing that is by crafting an omnichannel retail strategy that will give you a leg up on the holiday season. It also wouldn’t hurt if you plan early and be prepared ahead of time for Cyber Monday.

An omnichannel retail strategy lets you do that by making it easy for your consumers to buy products however they want to – across all channels. The boost in mobile sales for last year’s Cyber Monday indicates the continuing shift of consumers’ purchase-on-demand habits. It just goes to show that even local businesses need to have their shops mobile-ready to anticipate the increase in consumers shopping with their mobile devices.

British fashion retailer Oasis created a great omnichannel strategy for their fashion-forward consumers.

Their mobile app and e-commerce website complements the in-store customer service experience for Oasis consumers. If an item appears out-of-stock at the store, the staff can easily give you the option to place an online order and have the item shipped directly at home. Not only that, but the Oasis website also offers several enhanced delivery options like nominated day delivery, next day delivery, and click and collect at the store options.

Oasis learned how to adapt to the evolving shopping requirements of their fashionable consumers by capitalizing on consumer-generated content with the Oasis My Way feature where consumers can upload and share their trendy Oasis outfits on the website.

TIP 2: Use organic reach to target locals online.

Being a homegrown business with local roots can be turned into an advantage when it comes to Cyber Monday promotions. Leverage your business by marketing to the local demographic and appealing to the unique quirks of your quaint locale. Let them know where to reach you and make sure that you are encouraging them to support the local economy by patronizing your products.

This is what founders Dave Coleman and Mike McGarvey did to their local business, the 3 Stars Brewing Co.

vimeo

The company is making handcrafted artisanal ales to the beer lovers of Washington DC beer. They amassed a growing number of loyal followers by making beers that suit the tastes of their community. Plus, their shop has a tasting room where you can try out their homebrews and they also host private parties and beer-themed events for the local community.

Growlers, Pints & Flights

TIP 3: Stock up on your inventory and offer your best deals.

Remember to stock up on your best-selling items and offer your consumers with the best deal you can give them on Cyber Monday. Online shoppers are smart and they are going to hunt the best value for money discounts they can find. So make sure that you got your bases covered with good deals and an adequate inventory.

Check out what Pura Vida Bracelets, a local accessories maker based in San Diego, California did to their social feeds on last year’s Cyber Monday sale.

Pura Vida Bracelets was founded by two friends on a college graduation trip in Costa Rica. The brand name “Pura Vida” means pure life in Spanish, a Costa Rican philosophy that encourages the appreciation of life’s simple treasures and the lifestyle of living life to the fullest. Staying true to their brand’s philosophy, Pura Vida Bracelets promoted the sitewide Cyber Monday sale by showcasing the simple and laidback lifestyle that their products try to emulate.

TIP 4: Leverage on your local contact list and go big on email marketing.

Use your local network and existing customers to gain momentum for email marketing promotions on Cyber Monday. Recent data showed that Cyber Monday emails generate the highest clicks to purchases conversion rates among all other holiday-themed newsletters.

You should be ready to get your consumers excited on Cyber Monday and give them exclusive sneak peeks of your best deals by sending out well-crafted newsletters to your contact list.

Cowboy and western apparel store Boot Barn did this exceedingly well for their Cyber Monday promotions last year.

By frequently sending out newsletters in the days leading up to Cyber Monday, Boot Barn was able to get ahead and target their niche market who would consider purchasing their cowboy-themed apparel for the holidays. Customers were redirected to the Boot Barn’s Cyber Monday landing page where they could conveniently browse through their exclusive Cyber Monday deals.

TIP 5: Get creative! Add a personal and thoughtful touch into the ad copy.

Your customers will be bombarded with a bunch of sales copy on Cyber Monday. Be sure to stand out by creating a meticulous ad copy that will capture the interests of your target audience.

Brainstorm ad copies for newsletter subject lines, blog topics, and social media captions by creating a content calendar that will engage consumers and build brand awareness during the holidays. There are online video ad creators out there that can help add a bit of pizzazz to your Cyber Monday promotions.

Now let’s take a look at the excellent social media copy of Letterfolk, a small business based on Salt Lake City run by a husband and wife team.

As a retro letterboard startup, Letterfolk reaches out to their consumers on Instagram by injecting the brand’s unique sense of humor with inspiring and relatable content. Their posts create an emotional connection with their audience and it encourages them to like, tag others, and share their posts on social media.

TIP 6: Be tech savvy and go online with business promotions.

Local businesses need to set themselves apart from the competition by amplifying their business promotions online. Take advantage of web traffic on Cyber Monday and use social media to increase your following and build your local audience. Make sure to add a hashtag of your local area so your customers know where to find you, such as #CyberMondayinLA or #CyberMondayChicago.

You can also use social media to help shoppers buy directly from your store just like what Madewell did on their Instagram feed.

Women’s apparel company Madewell did an excellent job at turning their Instagram feed into an online store where consumers can “shop the look” of the items that they see. Madewell’s Instagram bio has a like2buy website link where consumers can just click on an image they posted and be instantly directed to the items that they can buy on the Madewell website.

TIP 7: Provide your consumers with a better and more personalized shopping experience.

Know your local audience well and anticipate what they need for your Cyber Monday promotions. As a homegrown company, you have the advantage to target your niche audience and provide them with exactly the right kind of things they are looking for. When they shop at your store, make them feel like they’re doing more than a business transaction and offer a friendlier and more personalized shopping experience.

Check out Compass Coffee, a local coffee shop from Washington DC. This shop is an ideal homegrown alternative from those big chains of coffee shops that we see around the country.

From their espressos to their signature blends, Compass Coffee founders Harrison Suarez and Michael Haft, take pride in creating coffee that’s nothing fancy or too crazy but simply – just really good coffee. Creating simple and tasty coffee sourced from the freshest ingredients, Compass Coffee makes sure that each cup has a medley of flavors that suit the tastes of the local community.

TIP 8: Stay true to your brand persona.

Don’t let yourself get distracted with Cyber Monday promotions that you forget the essence of what your brand stands for. Your branding should be consistent all throughout your holiday promotions. Remember to stay true to your brand persona even if most of your products are on sale or you’re experimenting on new deals and discounts for Cyber Monday.

Take a look at this inspirational apparel brand District of Clothing.

Are you ready to get started on your Cyber Monday promotions?

It won’t be long before Cyber Monday arrives! Are you and your business up to the challenge?

When everything’s said and done, the ultimate success of your Cyber Monday strategy depends on how well you know the needs of your consumers.

Don’t join the holiday sale bandwagon just because you feel like you are compelled to do so. Join them because there you want to satisfy the need for your consumers to purchase discounted merchandise from your shop during the holidays. Remember to face the challenge head-on by following these tips and start creating your first Cyber Monday ads!