Juphy’s Weekly E-Commerce News Express – 27 November-1 December 2023
Get ready for a quick journey through this week’s latest and most significant e-commerce developments! We’re highlighting key partnerships, innovative product launches, and the surprising outcomes of Black Friday and Cyber Monday. Here’s what’s new and impactful in the digital marketplace!
CrowdStrike Launches on Amazon Business
CrowdStrike, a leading cybersecurity provider, has released its latest AI-powered cybersecurity platform, Falcon Go, on Amazon Business. Tailored for small and medium-sized businesses, Falcon Go offers a simplified cybersecurity threat package designed for small teams and without the need for advanced technical skills.
TikTok Shop and U.K. Royal Mail Collab
In a new partnership on the front of TikTok, TikTok Shop has joined forces with Royal Mail to introduce Click & Drop, a seamless shipping solution for merchants. This partnership allows TikTok Shop sellers to integrate Royal Mail’s services, enabling seamless shipments to customers. Sellers can access this system through TikTok’s Service Market or set it up directly through Royal Mail.
Microsoft and Nexi Enhance Digital Payments Partnership
Nexi, a prominent European fintech company, has expanded its partnership with Microsoft. This collaboration covers the integration of Nexi’s digital payment services into Microsoft’s applications, with both parties undertaking joint go-to-market initiatives and communication activities. The integration will initially start in Italy but is planned to expand into other European markets.
Reflaunt and SuperCircle Team Up for Sustainable Fashion Solutions
In a recent alliance, Reflaunt, a resale technology platform, and SuperCircle, a fashion textile recycling platform, have decided to offer a combined resale and recycling service through brand websites. This teamwork aims to simplify the sustainability journey for brands and consumers, providing economic and environmental value.
Hyundai and Amazon’s Automotive Industry Revolution
Building upon our last week’s mention, the announced cooperation between Hyundai and Amazon is expected to remodel the automotive retail landscape in the U.S. next year. This partnership has revealed exciting insights that indicate a drastic shift in the way cars are sold. The extent of the U.S. car and truck market, with its total of $1.53 trillion in annual sales, highlights the transformative potential of this new approach. Both Hyundai and Amazon, well-known for their innovative and customer-centric mindset, are expected to deliver a seamless, straightforward, and user-friendly online car-buying experience, promising pricing transparency and simplified paperwork processes.
Yet, there’s more to this partnership than meets the eye. The introduction of a new yet familiar concept, ‘Buy Online, Pick Up In-Dealer’. This concept resembles the ‘Buy Online, Pickup In-Store’ trend that gained importance during the pandemic and has since become a vital part of our lives. Envision the convenience of purchasing a car online and effortlessly picking it up from a selected dealer, ready for you to drive away. This unexplored approach promises a comfortable and stress-free evolution in the world of car buying. Hyundai and Amazon suggest ‘Out with the old, in with the new!’.
Black Friday and Cyber Monday Sales Surprise
In a surprising turn of events, this year’s Black Friday and Cyber Monday exceeded expectations, defying earlier assumptions that they might disappoint businesses. Despite concerns about the authenticity of sales and consumers shifting toward seeking better discounts another time, the reality played out to be quite the opposite. Statistics for this year shoot up, marking a remarkable and unexpected increase in sales compared to recent years.
Black Friday Results
On Black Friday, e-commerce sales saw an impressive 7.5% increase, reaching a record-breaking $9.8 billion during the holiday season. Consumers’ top product purchases ranged from toys and electronic devices to skincare products and home goods.
Shopify, the globally recognized e-commerce platform, reported an astonishing $4.1 billion in Black Friday sales, both online and offline. The platform experienced a remarkable 22% increase in sales across popular product categories, including clothing, jewelry, shoes, and decor items.
Notably, the flow of customers wasn’t limited to online spaces; in-store traffic also experienced positive growth. Black Friday sales saw a 4.6% increase in visits, resulting in longer store lines than last year. It appears deep and genuine discounts managed to intrigue shoppers’ attention, leading to this unexpected online and offline shopping boost.
Cyber Monday Results
Leaving Black Friday behind, all eyes turned to Cyber Monday, a day that mirrored the trends of its precider Black Friday with a remarkable $12.4 billion in online sales – an increase of 9.6%. This time, consumers preferred online shopping with a similar top product choice observed on Black Friday — apparel, appliances, toys, furniture, and electronics.
Experts think one major factor contributing to this year’s success was the ‘Buy-Now-Pay-Later’ payment option. The comfort offered by this payment choice prompted a 42.5% increase on Cyber Monday, accounting for a substantial $940 million in purchases.
Mobile Devices vs Desktop Shopping
Black Friday 2023 not only wrote a new purchase record but also revealed a notable shift in consumer behavior that demands our attention. In a survey by Adobe Analytics, 54% of U.S. shoppers chose to make their Black Friday purchases via mobile devices, contributing to $5.3 billion in sales. However, the surprise doesn’t stop there. On a global scale, almost 80% of all online sales happened through mobile devices, led by the Asia-Pacific region. This indicates a considerable 10.4% increase in mobile device usage compared to the previous year, making people think about an upcoming takeover by mobile devices over traditional desktops.
That concludes our roundup of this week’s pivotal e-commerce developments. From strategic partnerships reshaping digital payment landscapes to innovative approaches in sustainable fashion, these updates highlight the continuous evolution of the e-commerce sector. As we keep an eye on these trends, we look forward to bringing you more insights next week.