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2022 had different surprises than 2021, but not necessarily fewer surprises overall — especially for online retailers.
COVID-19 factored less into supply chain issues for most online retailers this year than in 2021. Instead, the war in Ukraine led to inflated prices for fuel, affecting shipping costs. United States retailers also had inventory surpluses that they struggled to sell off, as many consumers worried about a looming recession.
Online retailers joined or created their own marketplaces in 2022 in addition to selling on their own ecommerce websites. In doing so, they navigated how to manage their products across different ecommerce sites. E-retailers also changed their approaches to digital marketing this year to collect first-party data rather than relying on third-party tracking cookies.
Digital Commerce 360 editors have been interviewing online retailers and analyzing data trends in 2022 to cover all these subjects and more. Here are our favorite stories in 2022.
1-800-Flowers.com, Evo, Club Champion, Worldwise and Thrasio each make an acquisition to build international expertise and add new ecommerce options.
Buyers specializing in small brands that sell on Amazon raised $15 billion in recent years and purchased hundreds of companies, driving up the value of these businesses dramatically. Demand has cooled in 2022, but Amazon brand owners can still walk away with millions of dollars if they meet the requirements of increasingly picky buyers.
Keeping Score: Is inflation lower online than offline?
There is some reason to believe it has been in the past year, with overall retail prices rising faster than online prices in 10 of 14 categories. If true, it could give online retailers a way of appealing to value-conscious shoppers.
More than a quarter of the top 100 online retailers mentioned Black History Month on their ecommerce sites while one in five spotlighted Black-owned or -founded brands, Digital Commerce 360 research shows.
Post-COVID-19, both empty storefronts and retail crime can be seen as deterrents to shopping in physical stores. Digital Commerce 360 explored the sentiments of shoppers and found little impact regarding online shopping.
Younger shoppers are on their phones, and want to check out fast, with their preferred payment provider on site a or app designed for their small screens. MVMT, Azazie and True Religion share how they fine tune their mobile shopping experience for young shoppers.
As Amazon rolls out its Early Access sale months after Prime Day, consumers wonder how many sales retailers can offer around the holidays.
Although all offer free shipping and discounts, Amazon Prime and Walmart+ have far more traction than Bed Bath & Beyond’s loyalty programs membership. More than a quarter of Top 1000 online retailers offer free loyalty programs while less than one in 10 have paid memberships.
That’s the problem e-bike retailers face now that Google has strengthened enforcement of a rule that bars ads for virtually all electric bikes sold in the U.S. Retailers can risk Google suspending their account, advertise on other channels or find work-arounds to a policy the e-bike industry finds puzzling.
As consumers cut the cord and stream entertainment, retailers are taking advantage of lower costs to reach an ever-expanding audience through CTV.
TikTok gains eight new users every second. However, ad spend share allocated to TikTok grows at a much slower rate — but that is changing. To reach younger consumers, digital marketers need to assess whether to proactively invest in TikTok while costs are low or risk rushing to catch up as more retailers look toward the future on a platform with 1 billion global active users each month.
Increased digital marketing regulations create clever tactics
Cannabis regulations created a prime opportunity for resourceful, privacy-compliant data collection and application.
Retail chains and born-on-the-web brands find their way to adopting an omnichannel business model.
Smaller store-based omnichannel retailers prep for holiday season
Brick-and-mortar stores take advantage of both their physical locations and online sales to meet customers on whichever channel they prefer.
The installment payment option is here to stay, but consumers want choices. Retailers are seeing increases in average order value, conversion rates and sales when they offer their customers’ preferred buy now, pay later system as a payment option at checkout.
The new payment feature, called Apple Pay Later, is a highly anticipated addition to the Wallet app. It is part of an expansion into the financial world that also includes bringing more infrastructure in-house.
Ecommerce fraud has gotten hard to detect and stop. More than half of fraud attempts against ecommerce retailers are now deemed “sophisticated,” meaning professional criminals used state-of-the-art methods aimed at circumventing anti-fraud systems.
Digital sales in Russia have dropped dramatically in the wake of global sanctions, and Wall Street is warning of tough times ahead for Putin’s Russia. Meanwhile, ecommerce merchants are raising money for besieged Ukraine.
A poster of a lego block painted in blue and yellow, a child singing “Let it Go,” boycotts by PLAYMOBIL and others are playing a role in fundraising for Ukraine and boosting morale in the wake of Russia’s invasion.
Patagonia reduced landfill waste by 170,000 pounds over the course of a single season just by changing its garment paper hang tag process. The retailer urges other retailers to use technology to reduce single-use materials.
The apparel merchant is allowing shoppers to pick up their online orders at third-party physical locations, such as Walgreens, Dollar General and FedEx. The rollout is part of a larger omnichannel and delivery push. Perry Ellis plans to launch buy online, pick up in store and same-day delivery before the holidays.
Floyd’s Full Cycle program allows shoppers to purchase returned or imperfect products for a discount. 25% of Full Cycle shoppers come back and purchase a full-price Floyd product.
The COVID-19 pandemic accelerated the company’s transformation from a popcorn retailer to a virtual fundraising company. Now, most of its revenue comes from its virtual fundraising, said Anton German, chief technology officer and chief product officer.
Given the various approaches that marketplaces take to product pages, sellers must dedicate resources to managing SKUs and listings across multiple marketplaces.
Macy’s joins a growing list of top retailers that operate a marketplace alongside their ecommerce site. The retailer says its online marketplace will boost their product assortment, add incremental revenue at a ‘low incremental cost.’
Retailers find different ways to stand out among competitors when selling on marketplaces.
In an increasingly competitive ecommerce landscape, DTC retailers are figuring out how to reach new customers by linking up with larger merchants like Walmart or selling on marketplaces like Amazon — without losing too much control. The key is to take a step back and assess before diving into new ventures or technologies.
Customers are increasingly aware of how their shopping habits affect the environment — and they’re holding retailers accountable. Online retailers including Taylor Stitch, Carter’s, REN Clean Skincare and Sabai Furniture give examples of how they implemented changes to consider sustainability by cutting back on what ends up in landfills, while maintaining profitability.
Retailers seeking to outsource their fulfillment operations must understand their own needs and carefully select a firm they can trust to meet them.
Discounting hurt online retailers’ bottom lines and caused many to scale back their sales and earnings projections for the rest of 2022.
Consumers are increasingly more comfortable buying secondhand merchandise for themselves. When it comes to gift giving, however, shoppers are reluctant to give used products as gifts — for now. That’s beginning to change as young shoppers are embracing resale as a giftable option for the holidays.
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Copyright © 2022 Digital Commerce 360 | Vertical Web Media LLC
Copyright © 2022 Digital Commerce 360 | Vertical Web Media LLC
