Juphy’s Weekly E-Commerce News Express – 04-08 November 2024
Ceyda Duz
This week in e-commerce and AI news, we dive into the latest trends and innovations transforming retail! Discover how early holiday campaigns are becoming a major retail phenomenon, why secondhand goods are seeing a rise, and explore exciting new updates from TikTok Shop, Loop, Viably, and Airwallex. Stay informed on the latest online shopping trends, retail insights, and game-changing innovations driving the e-commerce world forward!
The Rise of Early Holiday Campaigns: A New Retail Phenomenon
The festive season seems to start earlier every year, with Christmas themes, limited-edition products, and holiday ads coming up as soon as Halloween ends. This isn’t just a coincidence – it’s a new strategic move by brands to tap into the growing demand for holiday cheer and connection.
The Emotional Pull of Early Festivities
Consumers are increasingly looking for ways to escape the stress of daily life, and early holiday campaigns offer just that. Rising living costs and hectic routines have made many people crave the comfort and joy that Christmas brings. Brands have recognized this need and begun to use nostalgia and festive warmth to draw customers in early.
More Time to Build Connections
The trend of starting Christmas campaigns earlier allows brands to build anticipation and create stronger emotional ties with consumers. By introducing limited-time products or holiday-specific packaging, companies create a sense of scarcity and excitement, encouraging shoppers to act quickly and make purchases while the season is fresh.
Consumers Lead the Way
Interestingly, this shift is driven as much by consumer behavior as it is by brands. Studies show that many people begin their holiday shopping in October or early November, indicating that the demand for festive products starts well before traditional holiday periods. This early engagement gives brands the chance to establish loyalty before the typical holiday rush.
The Experience Over the Transaction
Retailers are also making shopping a more enchanting experience. From festive displays and holiday scents in stores to exclusive holiday offerings, brands are turning shopping into an event. This helps consumers feel a deeper connection to the season, making the shopping process feel less transactional and more celebratory.
Avoiding Holiday Fatigue
While the early start of Christmas campaigns brings excitement, brands must also avoid overwhelming consumers with repetitive messaging. The key to maintaining excitement is freshness – introducing new holiday items and limited-time offers ensures that the festive spirit stays alive throughout the season without becoming tiresome.
In the end, the early rise of holiday campaigns reflects a larger cultural shift: consumers are looking for ways to feel joy, create traditions, and escape the everyday. Brands are responding by helping bring the holiday spirit into their lives, no matter when the season officially begins.
The Growth of Secondhand Goods in Retail: A Trend on the Rise
As shoppers look to save money and reduce their environmental impact, the demand for secondhand goods continues to grow. Sellers of used items outpaced the broader retail market in 2023, with web sales of secondhand goods rising by 8%.
Key Growth Areas
- Electronics and Hobby Goods: Secondhand goods are particularly popular in consumer electronics, where retailers often offer buyback programs to resell used products. Hobby goods and jewelry also see a high concentration of secondhand offerings, driven by collectors and enthusiasts looking for valuable items.
- Web-Only Retailers Lead the Charge: Nearly 10% of online-only retailers now sell used goods, with many seeking to cater to the growing interest in sustainable shopping. Consumer brand manufacturers, such as those in the apparel industry, are also jumping on board, with around 7% offering secondhand options as part of their sustainability initiatives.
Major Retailers Embrace Secondhand
Secondhand marketplaces are seeing significant growth. Platforms like Poshmark, Etsy, and StockX are thriving, with Poshmark’s gross merchandise value up almost 15% in 2023. Sneaker marketplaces like GOAT and StockX also saw impressive growth, indicating that secondhand sales are booming across a variety of categories.
Consumer Interest in Sustainability
A 2022 survey revealed that 13% of shoppers had purchased a previously owned product from an online consignment seller, while 14% had made purchases based on a retailer’s sustainability policies. While one-third of shoppers weren’t interested in these services, the trend is gaining momentum.
The rise of secondhand goods reflects a growing desire for more sustainable, affordable options. With more retailers jumping on the bandwagon, it’s clear that secondhand shopping is no longer just a niche – it’s becoming a mainstream retail trend.
TikTok Shop and Venmo Team Up with Exclusive Discounts
TikTok Shop has partnered with Venmo to offer exclusive discounts to U.S. customers this holiday season. From November 30 to December 2, first-time TikTok Shop buyers using Venmo for their purchase can get 25% off when they spend $45 or more, with a maximum discount of $20. Returning customers aren’t left out either – they can enjoy 25% off when spending $85 or more, up to a maximum of $35. This collaboration aims to enhance the shopping experience and incentivize purchases on the platform, especially during the peak holiday period.
Loop Introduces Offset to Aid Merchants with Return Costs
Loop has launched Offset, a new solution aimed at helping U.K. merchants manage return costs more effectively. Offset allows customers to pay a small fee at checkout, giving them the benefit of free returns if they decide to return their purchase later. This approach not only enables merchants to offset the expenses associated with returns and reverse logistics but also provides customers with a seamless, no-cost return experience. By offering this option, brands can deliver a premium returns experience while minimizing financial strain.
Viably and Airwallex Partner to Simplify Cross-Border Transactions
Viably has teamed up with Airwallex to streamline cross-border e-commerce for businesses. This partnership integrates Airwallex’s global payments technology into Viably, enabling e-commerce sellers to manage multiple currencies and transactions with ease. Through the new Viably Global Account, businesses can handle vendor payments, receive marketplace payouts, and oversee international financial operations—all in one place. This integration is designed to make managing global finances simpler and more efficient for e-commerce merchants.
It’s Official: Juphy AI Has Earned the ‘Built for Shopify’ Badge!
We’re happy to announce that Juphy’s AI Shopping Assistant, tailor-made for Shopify stores, has officially received the ‘Built for Shopify’ badge! This recognition highlights our commitment to empowering Shopify merchants in crafting unique shopping experiences while continuously innovating to simplify your daily operations. With this badge, you can now access and manage all aspects of Juphy AI directly from your Shopify dashboard. No more switching between dashboards! From AI Assistant Settings and Conversations to Sales Pop-ups, Analytics, and Integrations, everything you need is right at your fingertips. Improve your customers’ shopping journeys with a 24/7 AI sales representative that assists, guides, and educates while delivering personalized product recommendations – all in over 98 languages! Experience the convenience and power of Juphy AI today, all from your Shopify dashboard: apps.shopify.com/juphy
Key Takeaways
- The Rise of Early Holiday Campaigns: Christmas campaigns are starting earlier, driven by consumers’ desire for festive cheer and nostalgia. Brands are responding by launching holiday-themed ads and limited-edition products right after Halloween. This helps build emotional connections with customers, who are increasingly starting holiday shopping in October.
- Growth of Secondhand Goods in Retail: Secondhand retail is gaining traction, with web sales for used goods up 8% in 2023. Popular categories include electronics and hobby goods, with brands like Ikea, H&M, and J. Crew joining the trend. Platforms like Poshmark and StockX are thriving, while more retailers now offer secondhand options as part of their sustainability efforts.
- TikTok Shop Partners with Venmo: TikTok Shop and Venmo are teaming up to offer exclusive holiday discounts. From Nov 30 to Dec 2, first-time TikTok Shop users with Venmo can get 25% off purchases over $45, while returning customers get 25% off purchases over $85. This partnership aims to boost holiday sales on TikTok Shop.
- Loop’s Offset Solution: Loop has introduced Offset, a feature that lets customers pay a small fee at checkout for free returns later. This option helps U.K. merchants manage return costs while offering a seamless returns experience. By offsetting return expenses, brands can provide a premium experience without financial strain.
- Viably & Airwallex’s Partnership: Viably has partnered with Airwallex to simplify cross-border transactions for e-commerce sellers. The Viably Global Account now supports multi-currency management, vendor payments, and international marketplace payouts, making global finances easier to handle.
