#25 - Stop checking your emails. It's almost Xmas! (Ok, I let you read this one...)
#25 - Stop checking your emails. It's almost Xmas! (Ok, I let you read this one...)
Marketplaces: from China to the World. Ready for a Cookie-less Future? B2B Ecommerce Trending. Understanding Total Cost of Ownership. Farfetch gets a second chance. Threads launched in Europe.
Hello 👋
No more holiday shopping, at least online. The only exception is if you’re selling gift-cards, which is a much better idea than you may realise. But for most of the Ecommerce players, like you - now it’s time to relax a bit from the business, celebrate the wins from the past weeks and try to get some quality time with loved ones. If you can’t 100% turn off your business brain, this article can help you keep an eye on what’s going on in the world.
P.S. I highly recommend to take it easy next week. Make some time to collect your thoughts, look back to this 2023, plan for 2024, visit your family, friends and maybe business partners and colleagues. Use this week for union and peace ✌️🎄.
5 - Marketplaces: from China to the World
Shein and Temu, rapidly growing e-commerce platforms in the U.S., have amassed attention despite a notable absence of U.S.-based sellers. Shein's fast-fashion marketplace and Temu, similar to AliExpress, mainly host sellers from China. Despite efforts to attract U.S. sellers, these platforms predominantly feature Chinese sellers. While their growth projections are substantial, the lack of U.S. sellers could limit their expansion beyond China, posing a long-term challenge. These platforms represent a unique wave of Chinese commerce, yet their localization attempts currently face hurdles, remaining more theoretical than practical.
4 - Ready for a Cookie-less Future?
Google's forthcoming move to block third-party cookies in Chrome from mid-2024 could revolutionize e-commerce and marketing strategies. Starting with a small subset of users in January, this change aims to enhance user privacy by restricting website access to such cookies. Despite potential benefits for both users and advertisers, concerns from competitors and regulators persist. Google's careful rollout reflects the significance of this shift, highlighting its profound implications for e-commerce and marketers worldwide.
3 - B2B Ecommerce Trending
B2B ecommerce trends in 2023 indicate a mixed satisfaction level among buyers. While 85% graded their experience positively, only 36% rated it as excellent, revealing room for improvement. The findings emphasize the rising expectations of digitally inclined customers and the need for B2B sellers to enhance their platforms to meet these standards. Notably, buyers conduct thorough research before making online purchases, with over 50% making daily transactions and favoring manufacturer ecommerce sites (57%) over other options like consumer sites (45%), Amazon Business (43%), search engines (40%), and distributor ecommerce sites (33%). A better user experience, crucial for buyers, involves access to comprehensive product information, competitive pricing, and efficient order management tools for quick and informed decision-making and transactions. This data highlights the evolving landscape of B2B Ecommerce, urging sellers to focus on enhancing user experience and meeting the evolving needs of digital buyers.
2 - Understanding Total Cost of Ownership
Understanding the total cost of ownership (TCO) in e-commerce is crucial for businesses evaluating their ROI. It encompasses license fees, implementation, operations, and innovation expenses. License costs involve platform fees and related software expenses. Implementation covers overlooked costs like non-technical salaries. Operations include infrastructure maintenance and user support. The often overlooked innovation cost involves post-implementation modifications. Managing these expenses effectively requires accurate forecasting, differentiation between operations and innovation, and considering future costs for major e-commerce initiatives. A clear grasp of these costs is vital for informed and profitable e-commerce investments.
1 - Farfetch gets a second chance
Struggling luxury retailer Farfetch acquired by South Korean eCommerce giant Coupang for $500 million. The deal allows Coupang access to the luxury goods market while aiding Farfetch's ongoing operations. Farfetch's recent challenges, including the decision to discontinue beauty product sales, reflect industry competition against major players like Sephora and Ulta. This acquisition ends Farfetch's plan to acquire Yoox Net-A-Porter from Richemont, marking a significant shift in the luxury retail landscape.
Ecommerce Prague 2024
Threads launched in Europe
Meta's Threads expanded into the EU last week, marking another move against Twitter/X. The launch, delayed by EU privacy laws, now allows browsing without an Instagram profile. Despite an initial surge, Threads faced user declines. However, Meta remains optimistic. Also, Meta aims for content interoperability, offering more interaction across platforms.