We’ve charged our credit cards, we’ve emptied our wallets, and many goodies are on their way if they haven’t arrived already! Our work week began with a plethora of deals on Cyber Monday, and for Amazon, continued the rest of the week. If you haven’t yet opened your online store, you may have missed out on a lot of sales. Many of those purchases happened on smartphones, but the mobile shopping experience still stands to improve for those who wish to stand a chance against the marketplace giants. As 2016 comes to an end in less than a month, it’s not too early to look at what’s in store for 2017 (pun intended). Stretch out, get yourself a nice cup of relaxation and enjoy this week’s roundup.
Cyber Monday, a day of deep discounts from your favorite online sources, has set an all-time largest day ever in U.S. eCommerce history. How much is that worth exactly? About $3.45 billion, beating it’s predecessor, Black Friday, by a whopping 3%. As impressive as this is, eCommerce growth remained somewhat weak compared to last year when taking the entire month of November into consideration; sales only grew 7.6% over the same period in 2015.
Customers are frustrated with their mobile shopping experiences. It’s becoming even more critical for your online store to offer an excellent shopping experience on mobile because Adobe has predicted that by 2018, most of our online shopping will happen on our phones. Businesses need to step up their mobile game or risk losing business to marketplaces like Amazon or eBay. With mobile experiences being less than ideal, people are still moving to PC to complete their purchases, 75% of retail purchases this year were made on PCs compared to 26% on phones.
There’s a famous saying, “If you can’t beat ’em, join ’em.” If you’re selling online, you may not want to limit yourself to an online store when you can also sell on marketplaces like Amazon and extend your market reach. With an estimated $4.74 billion worth of transactions taking place on the eCommerce behemoth between November 24th and 28th, $2.37 billion of that was sold by merchants on their marketplace, and in fact, 80% of Cyber Monday deals available on Amazon were from them.
While no one can predict the future with absolute accuracy, we can take an educated guess based on recent trends on where things will go in the new year. Among the 16 top trends for 2017, you can expect Amazon to continue to dominate thanks in part to ease of shopping with Echo, the addition of GPS trackers for deliveries, a packaging revolution because nothing enhances the experience of receiving a new goodie than a good looking box, and more membership and loyalty programs to foster your loyalty to a given brand.
We really hope that you enjoyed this week’s eCommerce RoundUp. Check back every week for a new set of articles.