January, 2023

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Online Review Statistics You Should Know in 2023

Ecommerce Platforms

Online review statistics reveal some interesting insights into the power of social proof. In a world where consumers are growing increasingly less trusting of “traditional” advertising, reviews, testimonials, and genuine customer feedback has become extremely useful. Around 95% of customers say they typically read a review before buying a product. The chances are you’ve even checked out a few star ratings and testimonials yourself before buying something particularly valuable.

Consumer 197
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7 Best Link in Bio Tools for 2023

Ecommerce Platforms

Once upon a time, we used to hand out resumes. No longer. Now, we find people via their social media accounts. And when they say “link in bio,” that’s how we find out more about their bio, their portfolio, their work, and their availability. You might even say that today’s link in bio is like the modern-day version of a business card. So it’s worth doing right.

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E-commerce sales exceeded $1 trillion in 2022: report

RetailDive

Total digital retail commerce hit a record in Q4 last year, reaching $332.2 billion, according to Comscore.

eCommerce 145
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The Average Conversion Rate for Ecommerce And How To Top It | Salsify

Salsify

Just over two out of 100 customers will put items in their digital cart and actually make a purchase — specifically, 2.5%. This is the average conversion rate for ecommerce transactions, according to industry benchmark data from Kibo.

eCommerce 148
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Get MACH Ready: Preparing Your Business for Digital Transformation

Adopting MACH technology means more than implementing new platforms. This type of digital change affects your organization at every level and requires a thoughtful approach to navigate challenges that crop up. The Get MACH Ready report, co-authored by MACH Alliance member Scott Canney in collaboration with Orium, commercetools, and Contentstack, will provide you with strategies to prepare your organization for a digital transformation.

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Cybersecurity Risk Dashboards: No Value, Extreme Liability

Forrester eCommerce

In the last twelve months, “Risk Dashboards” became all the rage in cybersecurity with varied titles like “Risk Index,” “Security Baseline,” “Security Posture,” and “Risk Posture.” These dashboards appear in a vendor’s user interface and purport to help security programs improve. Some even offer coveted “benchmark data,” leaders can share with boards and executives.

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Deloitte: Retailers Should Prepare for ‘Holiday Hangover’ in 2023

Retail TouchPoints

While the 2022 holiday season was by all accounts a success, retailers may want to buckle down as they head into the new year: four out of 10 U.S. consumers reported that they experienced a worsening economic situation over the past year, and members of this group said it would take time for their concerns to subside even as economic stressors abate, according to Deloitte’s Global State of the Consumer Tracker.

Retail 359

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Yotpo Review and Pricing: What’s It All About? Reveal Pricing and Features

Ecommerce Platforms

Recent stats show that 93% of c ustomers say online reviews influenced their purchasing decisions. The bottom line: It’s a given that customers will read online reviews before deciding on a product Just look at popular online marketplaces, for instance. Most products display positive, negative, and mediocre reviews posted by real-life customers. Needless to say, glowing reviews help ecommerce businesses attract customers.

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Customer Loyalty Metrics: winning customers and influencing sales.

Omniconvert

This blog post delves deeply into the most crucial KPIs and metrics for customer loyalty. Get ready for formulas, examples, and a highlight reel of each metric. The post Customer Loyalty Metrics: winning customers and influencing sales. appeared first on Omniconvert Ecommerce Growth Blog.

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What Is Recommerce — And What Does It Mean for Brands? | Salsify

Salsify

Whether you’re in the market for a vintage clothing item, a deal on a refurbished gadget, or just something that catches your eye with a lower carbon footprint, you’re probably already familiar with the many benefits of recommerce.

Clothing 147
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Knowledge Capacity Building Requires Skills Development

Forrester eCommerce

Organizations often view knowledge management as a means to bridge a skills development gap. For example, your level-1 service desk agents may not have strong technical troubleshooting capabilities. To overcome the lack of technical skills, the organization sets out to capture knowledge from subject matter experts and make it available to level 1.

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The Future of Multi-Vendor Commerce

In this on-demand webinar, discover how Logicbroker’s cutting-edge technology enhances the overall experience for both current and future customers and gain insights into how leveraging our seamless integration process unlocks new dimensions of efficiency and functionality. Plus, learn how our advanced marketplace features are set to revolutionize the way businesses operate, offering opportunities for growth and success within your multi-vendor commerce program.

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The Cybersecurity Impact of PCI DSS 4.0

Retail TouchPoints

Today, it seems cash is a thing of the past, with most shoppers leaning on credit cards or even mobile payment to complete transactions for both physical and online shopping. With the increase in these forms of payments, retailers are responsible for protecting their customers’ critical data from threat actors lurking around every corner, ready to siphon sensitive personal information.

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8 email marketing courses to take in 2023 (free and paid)

Omnisend

Reading Time: 8 minutes Why are email marketing courses so popular? That’s because email marketing offers numerous benefits for businesses. Email marketing can help boost sales, enhance customer engagement, create brand awareness, acquire new customers, reward customer loyalty, and so much more. That’s probably why marketers are still actively investing in this age-old marketing technique.

Marketing 157
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How To Start An Online Business in Canada (2023)

Ecommerce Platforms

Learning how to start an online business in Canada requires a reputable ecommerce platform , niche product ideas, and a suitable business structure for managing your business in the long term. Touting the 9th largest ecommerce market in the world, and revenues growing above $58 billion in 2021, it’s clear that there’s plenty of room for new businesses and ecommerce growth in the sector.

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5 ways Target is pushing customer-driven innovations in omnichannel, grocery

RetailDive

Ease, joy and affordability are key pillars of the company's efforts to build on its “Targét” reputation, executives said at NRF’s Big Show.

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How Retailers Are Transforming Customer Experiences with Data & AI

Speaker: David Azoulay, Marc Stracuzza, Román Tejada, and Guest Speaker Sucharita Kodali

Imagine a retail landscape where every interaction is personalized, every decision informed, and every opportunity maximized 🤔✨ Join us for an exploratory journey into the heart of AI-driven retail innovation. We’ll unveil the transformative potential of AI and data analytics in shaping the future of omnichannel personalization and e-commerce.

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How To Build an Ecommerce Marketing Strategy | Salsify

Salsify

Marketing campaigns have been around in some form or another since at least the age of antiquity ( starting with fish sauce in 35 B.C. ).

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What The Justice Department’s Lawsuit Against Google Means For Marketers

Forrester eCommerce

Yesterday, the Justice Department and eight states sued Google, accusing the company of illegally abusing its monopoly on the technology that powers online advertising. According to the Department’s complaint, Google’s dominance enables the company to take at least $0.30 of every dollar spent using Google’s advertising technology.

Marketing 369
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Five Below Plans to Convert 400 Stores to Higher-Price Format

Retail TouchPoints

Five Below , the value retailer targeting the tween and teen markets, plans to open more than 200 stores during its fiscal year 2023, which ends in January 2024, and convert more than 400 stores to its higher-priced Five Beyond format. The ambitious store opening plans are in line with the retailer’s March 2022 announcement that it intends to open approximately 1,000 stores by its fiscal year 2025.

Marketing 353
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Digital Marketing Trends for 2023: What’s New?

Digital Doughnut

Marketing has evolved at a rapid pace over the past 12 months. More attention has been paid to giving customers a great experience across many channels. Meanwhile, we’ve also recently noticed a clear shift toward digitalization and more automated ways for brands and customers to interact. In the list below, we discuss our 7 Digital Marketing Trends for 2023!

Marketing 124
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The B2B Digital Commerce Playbook for Manufacturers

In this comprehensive guide, we delve into four essential ecommerce strategies for manufacturers. Each strategy is backed by a clear vision to ensure your efforts are aligned. Whether you’re a seasoned industry player or a budding digitalization champion, these strategies offer actionable insights to drive success. What will you find in the guide: Overview of how current events and external pressures impact business priorities.

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How To Start An Online Business in Canada (2023)

Ecommerce Platforms

Learning how to start an online business in Canada requires a reputable ecommerce platform , niche product ideas, and a suitable business structure for managing your business in the long term. . Touting the 9th largest ecommerce market in the world, and revenues growing above $58 billion in 2021, it’s clear that there’s plenty of room for new businesses and ecommerce growth in the sector. .

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Uniqlo is banking on RFID tech to help drive international growth

RetailDive

The retailer is counting on digital innovation to help drive store growth in North America and Europe, according to Fast Retailing CIO Takahiro Tambara.

Banking 140
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What the Metaverse means for Retail

365 Retail

The metaverse, a virtual world that exists entirely online, is set to revolutionize the way we live and work in the UK. The term “metaverse” was first coined in Neal Stephenson’s 1992 science fiction novel Snow Crash, and refers to a virtual shared space that multiple users can access at the same time. The concept of the metaverse has been gaining traction in recent years, with companies such as Facebook and Google investing heavily in the development of virtual reality (VR) an

Retail 111
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The Future of Localization is Here: Are You Ready?

Forrester eCommerce

Here’s a thought experiment to test if your organization is ready for the future of localization. When you think about your customer and employee experience (CX and EX), do you think about what it’s like in each of their languages? Or do you unconsciously assume a monolingual experience?

Customer 369
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The Circular Product Journey: Powering a Sustainable, Data-Driven Future With PIM

The linear flow of make > use > dispose is unsustainable. Not only is it at odds with the realities of modern society, but it also fails to meet evolving demands from consumers and regulators. Linear is out. Circular is in. Going circular is not an overnight switch. It requires forward planning and data-driven decision-making. In this ebook, you’ll see how the right technology can help brands and manufacturers secure the product data governance they need to power this circular transition.

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The Future of Retail is Smaller, Crowdsourced and Robot-Powered

Retail TouchPoints

Predicting where the next phase of consumer buying behavior is headed has proven notoriously tricky. Ecommerce had been growing at a consistent rate, but its year-over-year growth shot up two to five times faster during the pandemic. And just when we thought ecommerce was the future, brick-and-mortar stores made a comeback in the last year. The ever-shifting landscape of retail makes any type of prediction questionable, but there are a few hidden trends that are shaping the future of how we buy.

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Importance of Web Design in Digital Marketing Services

Digital Doughnut

Your website is the representation of your products or services that you offer. It’s the place where most people will interact with you for business. It only makes sense if you come forward, interact with your audience, and satisfy their thirst.

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Inbound Marketing for Ecommerce: Top 15 Strategies to Grow Business in 2023

eCommerce CEO

Inbound marketing for ecommerce is a fancy term for a relatively simple concept: getting shoppers to come to you. Like many things ecommerce, this concept. Read more.

eCommerce 106
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Swiss brand On is profitable and growing. It also has a deep wholesale presence.

RetailDive

Co-CEOs Marc Maurer and Martin Hoffmann talk through the brand’s approach to scale, new store openings and why wholesale works.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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The 8 Best Brand Communities and Why They're Successful

Smile.io

Imagine having customers that continue to engage with you beyond your products. This is a sign of a loyal brand community, and some of the most successful businesses are strong because of it. Building a great brand community can be done in three steps: First, you need a captivating reason for members to join. Secondly, you need to make it worth their time to engage with each other and with your brand.

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A Day in the Life of a Knowledge Manager – A Cautionary Tale

Forrester eCommerce

Building a successful knowledge management practice to capture, share, and transfer institutional knowledge is more essential than ever. IT operations’ need to innovate, provide services globally, and improve employee experiences. Leading a knowledge management practice requires a unique set of skills, but what capabilities are essential for the early success of a knowledge manager?

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Amazon Takes Flight in India with Debut of Dedicated Air Cargo Network

Retail TouchPoints

Amazon has brought its dedicated air cargo network, Amazon Air, to India — the third market for the service after the U.S. and Europe. The launch is a first for an ecommerce company in India and a signal of the rapid growth in that region, which is the fastest-growing ecommerce market in the world, according to eMarketer. “We’re thrilled to launch Amazon Air in India to ensure we can provide our growing customer base with great selection, low prices and faster deliveries,” said Sarah Rhoads, VP

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Deep Learning: Smoothing the Transition Between Cookies and the Next Generation of Advertising

Digital Doughnut

Advancements in AI technology are transforming the advertising industry as we know it. Deep Learning, the latest generation of AI, can do in a millisecond what the human brain couldn’t do in a lifetime. Its ability to not only process data at supersonic speed, but also learn from every new piece of information, has opened up endless possibilities for advertising.

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Forrester Report: Demystifying The Technical Functions of POS Solutions

Understanding the intricate world of Point-of-Sale (POS) technology is a common challenge for tech buyers. When it comes to defining the functions of Point-of-Sale systems, the communications have yet to be standardized–—until now. Forrester’s new report, Demystifying The Technical Functions of POS Solutions, breaks through the noise and provides business leaders with the information and tools they need to evaluate the features of POS systems.