UK online conversion rates rose by 44% on the daily average on Black Friday – up 3% year-on-year - according to data from iAdvize, the conversational commerce provider, while Cyber Monday conversions increased 27% compared to an average Monday.
Internet Retailing, Omnichannel Retailing
Internet retailing, also known as e-tailing, is the sale of goods and services through the internet. It can include business-to-business (B2B) and business-to-consumer (B2C) sales of products and services. Online shopping or e-shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser. Internet retailers can be purely digital, meaning there is no physical store for a customer to enter. However, an e-retail business can also be a brick-and-mortar shop with an online presence. Omnichannel retailing is a retail strategy that integrates multiple channels, such as brick-and-mortar stores, online stores, and mobile apps, to create a seamless shopping experience for customers.
How did your company manage the Black Friday challenge?
Dec 07, 2019
By Sarah Robinson, Retail Skills Tutor, Qube Learning
Originating in the United States as a post-Thanksgiving start to Christmas shopping, Black Friday has been a shopping trend in the UK for less than a decade. However, the seasonal discount day gained popularity quickly and has not only become a solid fixture in the retail calendar but has grown into a week-long show of retail sales and discounts – both online and in-store.
Société Générale Wins Best Global Deployment Award Powered by GigaSpaces
Dec 05, 2019
GigaSpaces, the provider of InsightEdge, the in-memory real-time analytics processing platform, has announced that Société Générale was honored at the 25th annual American Financial Technology Awards in New York as the winner of best global deployment powered by GigaSpaces in-memory computing platform.
Google/Looker Competition and Markets Authority enquiry
Dec 03, 2019
Google/Looker Competition and Markets Authority enquiry: rival data CEO says Google deal `fair enough and makes perfect sense`.
The decision by the Competition and Markets Authority to consider an investigation of the acquisition of Lookers by Google, was announced yesterday.
Record-breaking cyber monday sales: Capgemini comment
Dec 03, 2019
Adobe Analytics said Cyber Monday online sales would hit a record-breaking $9.4 billion in the US, climbing 18.9% from 2018. Adobe also found that Black Friday was a record breaker in terms of sales. For the UK, it has been a similar story – with VoucherCodes predicting that the UK would spend £2.53bn on Black Friday, a 3.4% increase on 2018.
Optiseller helps online auto and motorcycle parts retailers get their data into gear
Dec 03, 2019
A key issue for sellers of automotive parts and accessories is ensuring that the parts being sold contain the correct product data and include which makes and models of vehicle they are compatible with. With millions of parts in circulation, managing this data can be a daunting task. A new partnership between leading ecommerce software developer Optiseller, and TecDoc catalogue owner TecAlliance, offers a cost-effective and convenient solution that makes it much easier.
LivePerson debuts SocialConnect and EmailConnect to help brands manage all digital customer interactions in one place
Dec 03, 2019
LivePerson, Inc. has launched SocialConnect and EmailConnect, bringing social media and email into the LiveEngage platform. This debut gives brands the ability to easily manage customer conversations regardless of the channels where they occur – all in one place.
OnBuy forecasts huge sales jump through new Boost service
Nov 26, 2019
OnBuy has launched a new service called Boost. Launched in time to give OnBuy sellers maximum benefits ahead of the seasonal traffic peak, Boost is designed to help sellers gain more exposure and improve the visibility, rank and placement of their listings on and off OnBuy.
BigCommerce launches GraphQL-powered Storefront API, bolstering capabilities for creating differentiated shopping experiences
Nov 19, 2019
BigCommerce, the open SaaS ecommerce platform for fast-growing and established brands, has announced the open beta release of its new GraphQL Storefront API, purpose-built for creating faster, personalized customer shopping experiences that differentiate brands from competitors.
Returns to increase because of social media shopping
Nov 19, 2019
Growing social media commerce will cause one-in-five online shoppers to return more items, according to new research from international logistics company Advanced Supply Chain Group.
Research of 2,000 online shoppers shows 34% will make more impulse buys as social media sites make it easier to buy products direct through in-platform selling tools.
Internet Retailing
Internet retailing, also known as e-tailing or online retailing, is the sale of goods and services over the internet. It is a type of electronic commerce (e-commerce) that allows consumers to purchase products and services directly from retailers without having to visit a physical store.
Internet retailers can sell a wide variety of products, including clothing, electronics, books, home goods, and more. They can also offer a variety of services, such as online payments, shipping, and returns.
There are many different types of internet retailers, including:
- Pure-play retailers: These retailers only sell products online. They do not have any physical stores.
- Multichannel retailers: These retailers sell products both online and in physical stores.
- Marketplaces: These retailers provide a platform for other retailers to sell their products.
Internet retailing has become increasingly popular in recent years. In 2022, global e-commerce sales were estimated to be $4.9 trillion. This number is expected to continue to grow in the coming years.
There are many reasons for the growth of internet retailing. Some of the reasons include:
- The convenience of shopping online.
- The wider selection of products available online.
- The lower prices that can often be found online.
- The ability to shop from anywhere in the world.
Internet retailing has a number of advantages for both consumers and retailers. For consumers, it offers the convenience of shopping from home, the ability to compare prices from different retailers, and the opportunity to find products that are not available in physical stores. For retailers, it offers the opportunity to reach a wider audience, reduce costs, and improve customer service.
However, there are also some challenges associated with internet retailing. Some of the challenges include:
- The need to protect customer data.
- The need to ensure that products are delivered on time and in good condition.
- The need to provide effective customer service.
Omnichannel retailing
Omni-Channel Retailing is the evolution of Multi-Channel Retailing, but is concentrated more on a seamless approach to the consumer experience through all available shopping channels, i.e. mobile internet devices, computers, brick-and-mortar, television, radio, direct mail, catalog and so on. Retailers are meeting the new customer demands by deploying specialized supply chain strategy software. To use all channels simultaneously, retailers using an omni- channel approach will track customers across all channels, not just one or two.
Omnichannel retailing is a retail strategy that integrates multiple channels, such as brick-and-mortar stores, online stores, and mobile apps, to create a seamless shopping experience for customers. This means that customers can start their shopping journey on one channel and seamlessly transition to another channel without having to start over.
For example, a customer might start by browsing for products on a retailer's website, then use the retailer's mobile app to compare prices, and finally visit a brick-and-mortar store to make a purchase. The retailer would track the customer's journey across all channels and make sure that the customer's information is consistent across all channels.
Omnichannel retailing is becoming increasingly important as more and more customers are using multiple channels to shop. A study by Salesforce found that 73% of customers use multiple channels during their shopping journey.
There are many benefits to omnichannel retailing, including:
- Increased customer satisfaction: Customers appreciate being able to shop however they want, and they are more likely to be satisfied with their shopping experience if they can seamlessly transition between channels.
- Increased sales: Omnichannel retailers are able to reach more customers and sell more products by offering their products and services across multiple channels.
- Improved customer loyalty: Omnichannel retailers are able to build stronger relationships with their customers by providing them with a more personalized and convenient shopping experience.
