Monthly ecommerce #9
Take a look at our latest issue of the Monthly! We'll explore some spent statistics, new features from YouTube, Google's ecommerce improvements, Mastercard's face recognition technology, and how businesses may benefit from the latest trends and earn huge benefits.
Paycheck to paycheck as a new reality
Based on the poll created by Pymnts.com and LendingClub Corp., virtually all of the revenue made by households earning close to four times the typical U.S. wage is usually spent on home costs. Millennials, especially, rarely have funds left over at the end of the month. Despite the difficulties, the majority of US citizens have no trouble paying their monthly spendings. Only one out of every ten high-earners has problems meeting all of their monthly obligations.
People who earn more money tend to pay off their credit-card bills in full each month and are less likely to have debt on their cards. However, they are also more likely to put expenses charged on their cards.
Google is attempting to enter the ecommerce market once again
Google has attempted to compete with Amazon's shopping services but has turned out to be unsuccessful so far. Google is now pitching itself as an Amazon competitor, offering a free platform for merchants and Amazon competitors to sell their items.
The danger for Amazon is that Google may provide a channel for companies to thrive outside its platform. The corporation may have to give discounts on fees, promotions, or logistical services to keep the business going.
Will YouTube become the next ecommerce breakthrough?
YouTube has been attempting to become more ecommerce-friendly for a while now. Experts are currently adding new tools to provide viewers with a new type of purchasing experience. YouTube previewed new capabilities that it declared would simplify people to come across and purchase items from businesses during its Brandcast occasion. YouTube aims to become a home for clients’ TV ad spending.
The company confirmed that they plan to provide new tools to assist advertisers in engaging with their potential clients and form ties with them. According to YouTube officials, one of the future features will let two producers go live simultaneously to co-host a shopping broadcast. Since each person would attract their fans to the broadcast, the revenue might essentially double. It is also a possibility to have more collaborations, which most viewers genuinely adore.
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Mastercard will begin a trial program where it will use facial recognition technology with retailers to monitor how shoppers shop
The company's Biometric Checkout Program allows clients to scan their faces on an app and associate their likeness with a card on file. This week, the test initiative began in Sao Paulo, at the stores.
The Head of Mastercard's Cyber & Intelligence, Ajay Bhalla, acknowledged that the company has been working to make people feel safer when they shop online since there might be a lot of prejudice and issues. Besides, Ajay confirmed that consumers worldwide have asked for these kinds of services.
US-based manufacturers are doubling down on ecommerce acceleration
Facing opportunities and new challenges, companies that take advantage of the latest trends can gain tremendous benefits.
According to the newest statistics from Digital Commerce 360, B2B ecommerce is becoming a significant component of business for U.S. manufacturing organizations. According to the survey, manufacturers in the United States are selling more items through digital commerce, with B2B ecommerce accounting for 8% of total sales.
As stated in the Digital Commerce 360's 2022 Manufacturing Report, manufacturers from the States produced $4.104 trillion in digital sales in 2021, up 12.9 percent from $3.634 trillion in 2020. The prediction for 2022 is that the number will grow tremendously. United States Department of Commerce states that the overall manufacturing sales in the United States increased by 12.6 percent to $6.036 trillion in 2020, up from $5.354 trillion in the previous year.