Hello there! Black Friday and Cyber Monday are over. Now is the time to get ready for the holiday season. Among the big companies, the last month of the year is the last chance to achieve their year’s objectives. So the activity has been crazy and it will continue like this for a while. Here we bring you a summary of the news in e-commerce, so you can be informed.
- According to Adobe Black Friday of 2016 set a new record of $3.34 billion spent online. Cyber Monday also set a new record of $3.39 billion spent online, which is the largest online selling day in history.
- This year, online purchases have exceeded in-store purchases. In the UK, retailers seem to reject Black Friday, since it is a normal working day and buyers won’t be buying but working. Also in the US the big growth of sales was online, while physical store sales decreased.
- Iceland suing Iceland. The Government of Iceland has sued Iceland Foods. This Trade Mark is preventing other Icelandic businesses from using the word Iceland in their brands, and the government is not happy at all about that. They want the Iceland word to be free to be used by other businesses.
- If you follow our weekly news, you likely know that the Indian Government demonetized Rs 500 and Rs 1000. This is having a great impact on e-commerce. In India, many buyers prefer to pay on delivery, but now they are trying to pay with these no longer available Rs 500 and Rs 1000. When this options is rejected they return the parcel. As a result, returns have grown 50% since that government decision.
- Social Media is the primary marketing tactic for more than half of SMBs. Even though Google seems to be the primary vehicle of online marketing when researching on the Internet, it seems social networks are the most popular for small business.
- Facebook reviews are a great alternative to specialized review pages and this article shows you how to take advantage of it, even if you don’t have a physical address (Facebook currently only allows reviews of companies with a physical address).
- More reviews here. Do you wonder what kinds of businesses are more affected by reviews? BrightLocal has answered this and other questions in its research. For example, they have discovered that 90% of consumers read less than 10 reviews before forming an opinion about a business.
- Walmart increased their number of items offered on their website, and the pricing competition with Amazon. According to Internet Retailer, they have almost tripled their number of items from the number they had last holiday season.
- EssentialRetail has published an interesting interview with Leila Martine about how HoloLens will impact e-commerce in the future.
- E-commerce competition in India is getting wild, and companies are suffering for it. Flipkart losses were up 110%.
- Have you ever wondered what minimum gross margin you should set? This and many other questions are answered on this podcast by Andrew Youderian from E-commerce Fuel and Scott Scharf from Catching Clouds.
- Also in Prisync, we wrote about 3 Ecommerce Pricing Strategies That Every Ecommerce Company Should Know and we did research about the e-commerce framework in the Netherlands, gathering for you The Most Popular Ecommerce Blogs, 32 Ecommerce Influencers to Follow and Ecommerce Events and Meetups to Follow. In addition, we had the pleasure of having Letitiah Obiri write about How to Grow Your Online Business with Content Marketing on our blog.
And that is all for now. We hope you received valuable insight about the e-commerce world in this episode of our weekly news, and we would love for you to visit us again next week to read more about e-commerce.