Global E-commerce Sales To Hit $4.2 Trillion
According to recent reports by Adobe, global e-commerce sales are anticipated to hit $4.2 trillion, with US consumers alone making up a quarter of that spending. In fact, Adobe has estimated that American consumers spent an additional $8 million online from March 18th to March 31st, a significant rise when compared to normal projections for this period.
As the online surge continues, e-tailers can rest assured that the shift towards online shopping triggered by the start of COVID-19 is not slowing down anytime soon. A survey conducted by Adobe showed that 9% of US consumers said they had never made a purchase online prior to March 2020. Similar trends can be seen in Japan with 8% and the UK with 15% of consumers never having made an online purchase. These consumers represent a new e-commerce audience that is here to stay.
Overall, Adobe is expecting US e-commerce spending to total somewhere between $850 billion to $930 billion by the end of the year, and to top $1 trillion in 2022.
4th of July Preparations
Fourth of July is right around the corner, which means it’s time to ensure your e-commerce strategy for the holiday is all set. Here are some helpful steps to take in preparation.
Conduct Market Research
The best way to ensure profitable results is to take a proactive approach. Use this time to look at the data and marketing stats in your industry in order to gain more insight into how your target audience intends to make purchases this year. This will ultimately provide you with a useful starting point for how to set up your marketing and promotional plan accordingly.
Create Your Promotion Plan
Consider which products you want to highlight for Independence Day this year. Are there products that naturally rise in sales this time of year? If so, focus on those while highlighting newer items within the same category.
Map The Customer Journey
Once the holiday is underway, use the data you acquire from the sales to your advantage so you can fine-tune your strategy and approach and ultimately generate more sales in the future.
The Value of UTM Codes
UTM stands for the “Urchin Tracking Module”, named after the Urchin software corporation which was acquired by Google in 2015 and is now commonly known as Google Analytics.
What are UTM Codes?
UTM codes are essentially small bits of text you can add to a link that will tell Google Analytics or other analytic tracking tools more information about each link, including where your traffic is coming from, how that traffic is reaching you, and why.
If you’d like to learn more about how you should be utilizing UTM Codes, contact us.
Prime Day Rumor
According to Recode, Amazon is reportedly holding its Prime Day shopping event in June rather than July this year. Sources have speculated that the reason behind this decision stems from Amazon’s desire to boost its second-quarter financial reporting and to show investors greater growth from Q2 2020 to Q2 2021. Although, Amazon has denied this being the cause behind their decision.
Sources have also stated that Amazon may be planning another shopping holiday in the fall in addition to Prime Day this summer.
Contact us to prepare your e-commerce strategy for Prime Day.
Memorial Day is right around the corner! Finalize your preparations now and reach out to us for additional help.