#16 - My agency got acquired!
SGA Acquired. YouTube Shopping Features. Tesco Marketplace. 5% Rise in Holiday Ecommerce. Nonprofit Ecommerce. Dollar Shave Club New Tech Stack.
Hello 👋
In this edition I’ll share as usual my top 5 news and insights in Ecommerce this week. However, I need to reserve some time to address the biggest new of the year for us!
Let me give you the highlights of the news:
Shopsys is the #1 Ecommerce Agency in Czechia and Slovakia, focusing on custom implementation for the biggest stores in the market
Sounds Good Agency (SGA) is the only certified Shopify Experts in the market since 2016
By joining forces, we can together serve a much larger segment of the market, and provide the best possible solutions to any businesses with revenue over 1M$.
SGA is now 100% owned by the Shopsys group, and the previous owners of SGA (CEO, CTO & Founder) are shareholders in the main group.
So yeah, great news! We’re very excited about it, so yesterday we had a nice informal event to celebrate it and communicate with the market.
Let’s go to the topics of the week now 👇
5 - New YouTube Shopping Features
YouTube is introducing new features for shoppable videos, including timestamps for retail links, allowing creators to prompt viewers to purchase specific items at the right moment. These timestamped shopping links are currently available for long-form videos. YouTube is also enhancing its affiliate marketing program with a bulk tagging tool and an Analytics tab to track revenue trends. Gen Z shoppers are identified as resilient spenders, with a significant percentage planning to spend more on holiday shopping this year, particularly on platforms like YouTube and TikTok. This presents an opportunity for digital platforms to increase their share of the retail market.
4 - Tesco Marketplace
Tesco is set to introduce an online marketplace where customers can shop for a wide range of third-party products in addition to groceries on its website. They have been developing the technology for this marketplace over the past two years and are now assembling a team to collaborate with sellers on range, merchandising, and promotions. Customers can seamlessly access third-party products alongside their core grocery basket on Tesco.com. The marketplace is part of Tesco's strategy to become the most convenient grocer and will focus on pet food, health & beauty, and alcohol categories, offering larger pack sizes. It is expected to launch early next year, with both existing Tesco store brands and new challenger brands. This initiative aims to attract more traffic to Tesco's online platform and enhance the overall customer experience.
3 - 5% Rise in Holiday Ecommerce
Ecommerce sales are projected to have a modest 4% growth during this holiday season, with total season sales expected to be up 5% compared to 2022, according to a data analysis by Signifyd. The analysis reveals that growth will vary depending on the retail category, with apparel and electronics expected to see a 9% and 8% year-over-year increase, respectively. Sales during the Cyber Five period (Thanksgiving to Cyber Monday) will also vary by category, with only apparel expected to have a significant 10% growth. Overall, while growth may seem underwhelming compared to previous years, it builds on a strong foundation, with no decline in year-over-year sales since the onset of COVID.
2 - Nonprofit Ecommerce
Goodwill is striving to bolster its online presence amid increasing competition from online thrift stores. With decentralized operations, Goodwill has launched GoodwillFinds to improve its e-commerce game, featuring categories like "Heirloom-Quality Finds" and a sleek user interface. While the venture has seen promising growth, the charity faces challenges in capturing online market share and standing out as a go-to destination for secondhand items. To compete effectively, GoodwillFinds estimates a need for significant investment, aiming to streamline the customer experience and expand its reach in the online resale market.
1 - Dollar Shave Club New Tech Stack
Dollar Shave Club, a prominent direct-to-consumer grooming brand, has successfully transitioned from its homegrown ecommerce technology to top-tier partners. This strategic move, in collaboration with Ordergroove, Klaviyo, Gorgias, and Shopify, empowers Dollar Shave Club to boost scalability, reduce costs, and continue its growth trajectory. The migration of their substantial subscriber base was achieved in just three days with a remarkable 99.99% success rate, enabling Dollar Shave Club to innovate and enhance customer experiences.
