Welcome to our start-of-month review of the most important news in the e-commerce industry. We’ve gathered the latest updates and insights to keep you informed about the trends and events shaping the sector. Let’s dive in!
Deloitte Digital and Salesforce Unleash Trusted AI for CRM
Deloitte Digital and Salesforce have announced a collaboration to provide businesses worldwide with the strategies and accelerators they need to deploy trusted AI for CRM. Deloitte Digital will offer its AI services, industry experience, and deep knowledge of data protection regulations to help organizations implement and scale AI Cloud. This initiative will help clients harness the power of AI for CRM to deliver tailored customer experiences, supercharge company productivity, and safeguard their data. Source
Constellation Brands Sees Over 40% Rise in eCommerce D2C Sales
Constellation Brands, owner of brands including Modelo, Corona, and Svedka, has reported a lift of over 40% in eCommerce direct-to-consumer (D2C) sales in its first quarter. The company’s omnichannel focus has provided additional pillars of consumer-led growth, such as international and direct to consumer, the latter of which grew the channel’s net sales 13% in Q1. The eCommerce and customer loyalty portions of DTC business were up over 40% in Q1. Source
Amazon Prime Day 2023
Amazon has announced that its annual Prime Day mega sale will take place on July 11 and 12. For the first time, Amazon will offer invite-only deals where members of its Prime subscription club can request an invitation to access discounts on items that typically sell out fast. Prime Day deals will also appear on other retailers’ websites through its Buy with Prime program, which enables third parties to add Amazon’s payment and fulfillment services to their own site. Source
Forever New Continues Partnership with Riskified
Forever New, a global fashion brand, has extended its partnership with Riskified, a provider in eCommerce fraud and risk intelligence. With Riskified, Forever New maintains consistently high approval rates while minimizing chargeback costs, creating revenue certainty and bottom-line predictability in a volatile economic environment. Source
Rokt Unlocks New eCommerce Revenue Opportunities for Mercari and Newegg
Rokt, the leading eCommerce technology using machine learning to make transactions more relevant to each shopper, has announced new partnerships with Mercari, the online marketplace, and Newegg Commerce, a global eCommerce leader for technology products. Both Mercari and Newegg have partnered with Rokt to unlock new revenue opportunities and drive customer lifetime value on their eCommerce sites. Source
Shoplazza to Unveil Groundbreaking eCommerce Tools
Shoplazza, an eCommerce SaaS platform, is set to roll out two significant enhancements to itsproduct suite. The first key release is a transformative ChatGPT content generation tool designed to elevate merchant efficiency and conversion rates. The second release is the OnePage Theme, a distinct design tailored for markets where Cash on Delivery (COD) is prevalent. Source
The Rise of Retail Media Networks
Retail Media Networks (RMNs) are gaining traction in the ecommerce industry. These networks use first-party data to connect brands with potential customers at the point of purchase, driving revenue and offering low customer-acquisition costs. However, they also pose challenges, including privacy concerns and the need for tech compatibility. Despite these hurdles, the future looks promising for RMNs as they can leverage emerging tech trends and the growing demand for personalized advertising. Read more
Lessons from Bed Bath & Beyond’s Demise
The downfall of Bed Bath & Beyond serves as a reminder of the necessity to adapt to evolving consumer needs. The retailer’s failure to embrace online shopping early on is seen as a leading cause of its demise. The key takeaway for ecommerce businesses is to remain flexible and responsive to market shifts. This includes analyzing website data, keeping up with studies and trends, and listening to customer feedback. Read more
Amazon Opens First Non-Whole Foods Grocery Store in California
Amazon has opened its first non-Whole Foods grocery store in California. The store, called Amazon Fresh, features a range of technologies designed to make shopping faster and more convenient, including Amazon’s new Dash Cart, which allows customers to skip the checkout line, and Alexa stations throughout the store to help customers navigate. Read more
Amazon May Become the Largest US Retailer by 2024
According to JPMorgan analysts, Amazon is on track to overtake Walmart as the largest U.S. retailer in 2024. The prediction is based on the expectation that Amazon’s retail business will grow at a compounded annual growth rate of 15% over the next two years. Read more
Session, Germany’s Trusted Music Retailer, Partners with Agillic
Session, a trusted music retailer in Germany, has chosen Agillic to drive personalisation and accelerate growth both online and offline. Agillic’s Omnichannel Marketing Automation Platform will provide new and existing customers with a more seamless and tailored experience. The platform’s communication channels, dynamic headless content capabilities, flexible data model, and full GDPR compliance will enable Session to reach customers in a more targeted way, creating seamless customer experiences across all channels. This partnership is expected to enhance the shopping experience for Session’s customers, ranging from budding instrumentalists to professional musicians. Read more
PayPal Introduces Passkeys in Germany
PayPal is offering passkeys outside of its US home market for the first time, with the feature now available in Germany and the UK. Passkeys are designed to replace passwords and allow seamless logins for consumers across devices and platforms. The technology is designed so that there is no shared passkey data between platforms, offering customers a simple and secure way to log in to PayPal. Customers can log in quickly and securely using biometric features or a device password. This move is expected to make online purchases easier for consumers and remove checkout friction for merchants. Read more
Decline in Package Volume in Germany
The courier, express, and parcel sector in Germany, known as KEP, faced turbulent times in 2022. There were 360 million fewer packages delivered than in the peak year of 2021, translating to a 7.9 percent decline in package volume in Germany. The decline in shipments can be attributed to the end of the COVID-19 pandemic, which led to a significant decrease in consumer willingness to spend and a shift from online to offline retail sales. Despite the recent downturn, the German Parcel and Express Logistics Association (BIEK) sees a bright future, referring to the fact that last year’s parcel volume was 14 percent higher than pre-corona. Read more
Stay tuned for more updates and insights in our mid-month review!
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