Thanksgiving is a time to appreciate friends and family, but it’s also a time to prepare for the busiest shopping season of the year. Black Friday and Cyber Monday are only a few weeks away, and online merchants, as well as ecommerce marketplaces, are taking action to fulfill on their customers’ needs.
While this year may be the most lucrative yet, issues including low inventory, supply chain disasters, and shipping delays could hurt your chances of success. But this is no reason to panic because, with hardships, innovation is born. Read this month’s Ecommerce Lately to find out what some companies are doing to stand out during the holiday season.
Twitter Optimizes Advertising Features and Algorithms
Twitter recently released new ad features and an updated algorithm to assist multichannel sellers in social commerce. This new algorithm will help determine which users will be shown specific ads, improving the effectiveness of a company’s marketing campaign. One ad feature consists of a carousel that allows users to navigate to several different destinations. This will provide marketers with the ability to link multiple landing pages for individual products. Twitter’s ultimate goal is to double its annual revenue by 2023, and these updates are just the beginning.
Live Video: The Future of Ecommerce Marketing
Online merchants have been searching for marketing strategies that’ll change the game in their industry. They’re especially looking for ways to give customers a similar experience as a brick-and-mortar store. A more personalized shopping experience can help drive sales, but online, this can be difficult to achieve. Kaizad Hansotia, founder and CEO of SWIRL, believes that live video marketing is the future of ecommerce. Similar to Amazon’s shoppable television strategy during Prime Day, SWIRL offers companies an interactive video experience right from their branded website. If you’re considering implementing live video on your store, check out SWIRL’s products.
New Way to Offer Online Payments
Crypto payment provider, ZoidPay, has released a new Chrome Extension that allows retailers to offer crypto payment options to their customers. Not only can shoppers use cryptocurrency, including Bitcoin, on popular marketplaces like Amazon and eBay, but over 40 million online retailers have this option available right now. While cryptocurrency seems overwhelming at first, ZoidPay offers onboarding to assist shoppers and make buying online even easier.
Holiday Shipping Delays, No Surprise There
Similar to last year, the supply chain industry will be hitting some speed bumps during the holiday shopping season. Online sellers will face extended delivery times, stock-outs, and unhappy customers among other problems. In fact, Adobe Analytics predicts that online out-of-stock messages are expected to increase by 172% from 2020. One specific industry will be hit the hardest – apparel. These dilemmas can be blamed on a number of factors including COVID outbreaks, container shortages, and even flooding.
Social Commerce is Coming to America
Social commerce has been a significant force in multichannel selling for the past few years, but in America, it’s just the tip of the iceberg. China has seen a surge in social commerce, hitting a record 13% of all online sales. This trend is spreading across the rest of Asia and is even being introduced to American markets, as we see in the Twitter story above. For a complete guide on this new trend, check out our Intro to Social Commerce post.
This year’s ecommerce innovations have given online sellers opportunities to become successful. From unique, but simple, marketing strategies to improved multichannel selling, merchants can diversify the way they sell.
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