Monthly Ecommerce #17
The smell of chocolate candies and red roses is back as we enter Valentine's season! While people are struggling to find the perfect present for their loved ones, ecommerce brands are doing everything they can to get your attention during this romantic period of the year. Let's see what kind of love letters February has prepared for the ecommerce community!
How much does love cost?
The most romantic ecommerce season is approaching, which means businesses are planning their operational activities to deliver as many heart-themed things to our homes as they can. Online shops are likely to be the leading shopping destination, despite an increase in consumers' gifting experiences.
The following are major insights found from a study done by the National Retail Federation and Prosper Insights & Analytics on 2023 consumer plans:
- Spending in the USA is predicted to reach a record of $25.9 billion, as opposed to $23.9 billion in 2022.
- With 35% of customers wanting to buy virtually, online will thrive on this day. Besides, 34% of shoppers intend to visit department shops, 31% bargain shops, and 18% some kind of speciality place.
- Almost half of the shoppers want to enjoy Valentine's Day, while the other half hopes to get some personal benefit out of it and will look for discounts and good deals. Intentive guys!
- An average spend will total almost $192.80 in 2023.
So, what’s your budget for Valentine’s Day?
Another checkout method from PayPal and Bold Commerce
A checkout provider Bold Commerce and PayPal introduced a unique feature that would allow utilizing both companies' services simultaneously. This is a part of PayPal's big plan to develop in the direction of a Headless commerce sector, which is a service that allows businesses to perform their activities without a front-end layer.
By incorporating checkout in various places such as blogs, social media, and QR codes on the product, businesses may expand their earnings outside their ecommerce website.
If you need assistance in payment gateway integration, read our guide or talk to our experts.
Google vs EU legislation. One more attempt
Google is about to increase transparency for customers who purchase things via the company's websites or platforms, such as the Google Store. The IT titan is aiming to meet the European Union's requirements. Moreover, the corporation continues to contravene EU geo-blocking legislation.
The corporation has been recently challenged by inspectors and had to cooperate to prevent future spontaneous check-ups and fines Google.
Google also intends to modify its ecommerce goods and services. For instance, Google Store and Google Play Store customers will find it easier now to find everything they might need from any desired vendor. The changes are also coming to Google's return and cancellation policies.
"Text to shop" from Walmart
Last month, Walmart unveiled its "Text to Shop" service. It allows mobile users to simply text the things they want to buy from Walmart's nearest physical store or website. Despite how ground-breaking it may sound, the beta version revealed that the feature still does not work correctly. Even though the service's primary goal is to offer a quicker, text-based shopping experience, the chatbot stated perplexing things while the user interface was hard to navigate.
Chat-based purchasing implies easing online shopping by placing it into a more familiar messaging interface. So, let's wait and see further improvements to the feature.
Amazon transforms Indian ecommerce with its Air Delivery service
We've all heard stories about air delivery tackling the US market, and now it is finally entering a new country! Amazon has launched its Amazon Air service in India, which is considered to be the home of the second-largest online audience in the world after China.
With more than 780 million citizens online, ecommerce companies in India are searching for new ways to satisfy the high number of orders and provide faster shipping as the online market is expanding at the speed of light. Soon Indian customers will be able to test the feature themselves.
There is no information on what kind of service Amazon plans to offer. However, customers predict that cargo flights, fast shipping to various regions of the country, and drone deliveries might happen very soon in India.
Ecommerce experts believe that Amazon's investment in Asia's third-largest economy will significantly increase its market share in the Asian region.
Talking about some market stats, India Brand Equity Foundation states that the ecommerce business in India expanded by 21.5% in 2022 and is about to reach $350 billion by 2030.