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With the holiday season just concluded, the challenge of managing merchandise returns is a reality for many retailers. According to the latest data from the National Retail Federation (NRF), merchandise returns are projected to reach an astounding $890 billion in 2024, accounting for approximately 16.9%
Marketing Efficiency: Doing More with Less Making a return on ad spend (ROAS) is becoming harder to achieve as advertising costs continue to rise. Adjusting spend and creative based on real-time data minimizes waste and maximizes returns. Marketing efficiency is about spending smarter, not more.
The ease of online shopping is partly driven by flexible return policies. Gen Z often buys multiple items, tries them on at home and returns what doesnt fit. Across generations, 24% of online clothing purchases are returned.
The rise of socialcommerce While the majority of shoppers currently discover on social but buy in-store, social networks are pulling out all the stops to encourage purchasing in-stream. Its also informing product development, with companies such as Shein and Temu looking at social to design products around whats popular.
Speaker: Ashlee Aldridge - Reach Partners LLC | Bill Mirabito - Chameleon Collective | Ronak Shah - PSA Retail & CPG, Amazon Web Services | Wayne Teigen - Pivotree
From socialcommerce to BOPIS, the name of the game is to meet and sell to customers wherever they are, through multiple channels. In this webinar, four commerce retail experts will discuss: What consumers want to experience more of in 2023. The cool new innovations shaping the commerce industry.
Organized fraudsters use search and social media ads to deceive customers into clicking through to fake websites that steal their payment data, account login credentials or both. In fact, 16% of respondents from the consumer attitudes survey said theyd been the victim of socialcommerce fraud in the past year.
An important aspect of building loyalty is making customers feel like part of the brands story, leading back to the power of socialcommerce and community-driven engagement. The continuing evolution of socialcommerce One noticeable trend in the world of retail marketing in recent years has been the rise of socialcommerce.
The campaign returns this year, and on May 14 in Santa Monica, Calif. new and returning Q50 ambassadors will be joined by TikTok creators and brand partners for a day-long live shopping event designed to put women at the center of a modern retail experience.
While this longer shopping season may benefit the consumer, it also poses sales tax complications for retailers that can last well into the new year when return season strikes. Complex Returns The holiday shopping season starts earlier than ever but it also ends later than ever for retailers that must handle a high volume of returns.
Mastering Hybrid Shopping in the SocialCommerce Era The U.S. Other platforms like Instagram are rolling out new commerce capabilities to keep pace, and retailers are realizing that if they want to reach and resonate with consumers, especially in new markets, they need a socialcommerce strategy.
SocialCommerce: Shopping via Social Media Social media platforms like Instagram, Facebook, and TikTok are no longer just for socializing; they have become major drivers of online shopping through socialcommerce. Pros and Cons of SocialCommerce: Pros : Direct access to a large, engaged audience.
Key metrics include Roblox reach and engagement metrics such as total visits to the gaming experience versus average, return users, favorites and daily average users. The Clarks marketing team also noted that it will refer to insights on the most popular virtual accessories item, average player age and sentiment versus the Roblox average.
It now recognizes who the customer is from the start and goes beyond simply understanding intent to taking actions, such as finding orders or managing returns. Within these social platforms, customers can buy items from the Walmart No Boundaries brand for their virtual avatars and matching real-world items for themselves.
In this article, I’ll explore the reasons behind this trust gap — especially when it comes to security and payment confidence — and share some thoughts about what retailers, social platforms and regulators must do to close it. A survey from Atlas VPN revealed that nearly 50% of social media users had fallen victim to online shopping scams.
Theyve really enjoyed being able to try stuff on and not have to return it. It’s been a learning curve, because I think I knew that it would create impact for our customers, being able to feel and touch the clothes, but we didn’t realise to the extent that it would.
This kind of teamwork fosters trust and reliability, which are essential for encouraging customers to return. When marketing articulates the value and pricing of products, operations must be prepared to deliver on those promises. Leveraging data analytics across departments can boost collaboration and help teams make smarter decisions.
It was around the time Hurricane Sandy hit the Jersey Shore, so we decided to donate the bags to people as they returned to their homes on the island and get groups involved for donations. Bogg Bag was the vehicle for them to carry their gloves, goggles, garbage bags and all other materials.
Failure to comply with state regulations may lead to claims, and more commonly, unclear terms on returns, refunds and shipping costs can lead to issues with customers resulting in reputational or customer loss. These terms will form the basis for your relationship with customers and are regulated primarily by state consumer protection laws.
Australian TikTok users average 26-minute sessions and return to the app multiple times daily, with over 90 per cent being repeat users according to Data AI. This demographic evolution aligns with expectations that retail will be the standout commercial property performer, with assets delivering strong returns and representing 41.1
And brands that build long-term relationships with these creators, rather than one-off sponsored posts, are seeing stronger returns. A creator talking about how a certain white noise machine helped her baby sleep during a regression carries more weight than a celebrity endorsement.
Super Brand Day gives us a chance to lean all the way in, with content, creators and commerce to create a real-time shopping experience that feels personal and dynamic.” Deals will include up to 50% off on TikTok Shop, along with discounts on denim and top-selling styles like hoodies, graphics, basics and more.
Theres also growing potential in integrating socialcommerce with live video. Just like casino players come back for a live dealers personality, shoppers may return for a presenter they trust. Mobile responsiveness cant be an afterthought. The live shopping format thrives when friction disappears but presence remains.
But if you have never heard of socialcommerce, now is the time to stand up and pay attention. Statista has reported that the global value of socialcommerce will grow from US$1.3 In late 2023, Salesforce reported that 59 per cent of consumers had shopped on social media, a massive jump from 15 per cent in 2021.
A 2023 report from e-commerce growth agency Common Thread Collective revealed that the average return on ad spending for DTC brands fell by 38 per cent between 2021 and 2023. Brands must evolve beyond being purely DTC-focused, into models that blend retail, marketplaces and socialcommerce with precision.
With Social+, weve set a new industry standard that will help our partners thrive, boost their return on investment and provide more ways to measure meaningful impact. Were excited to launch this in collaboration with Meta.
As the retail industry braces for another year of rapid innovation and transformation, the Retail Technology Show (RTS) 2025 returns as a key fixture in the sectors calendar. On Day 2, Dragons Den alumnus Theo Paphitis shares his leadership lessons and how to build retail resilience in turbulent times.
Socialcommerce has quickly grown from a revolutionary idea to a mainstream concept, and the channel is expected to continue expanding to reach $1.2 The foundational lesson is that, while socialcommerce can be an outgrowth of a retailer’s traditional social media interactions, it’s both more time-sensitive and more time-consuming.
Suffice it to say that socialcommerce has arrived in America. However, one reason for this flurry of enhancements is that there’s still considerable friction in socialcommerce processes. Whether socialcommerce will play a crucial role in retail going forward is no longer a question. earning $26.97
Petco is staying at the forefront of socialcommerce via multiple live shopping events, produced in partnership with Facebook , that combine fashion, charity and adorable animals. Our goal is to be a leader in innovating and driving the use of socialcommerce in our category and in the U.S.”. lift in ad recall, a 5.9%
Socialcommerce is a relatively new medium, but as retailers and social media platforms alike explore possible use cases and applications, it will significantly shape how both shoppers and businesses spend their time and money. However, this doesn’t mean that the existing social media playbook needs to be completely rewritten.
“This partnership provides unique benefits to our ecosystem of Omnichannel Certified Partners for merchants on any ecommerce platform via Feedonomics to drive return ad on spend and improve performance on hundreds of growth channels.”.
RTP: Tell me about a little bit about where socialcommerce fits into your ecommerce strategy. I don’t care if you discovered it on Instagram and you’re still on the Instagram app, if there is a client complaint or return, they’re coming back to Sephora, so it should feel as good as our website.
As an example, he pointed to online fashion retailer Princess Polly , which used collection ads to drive traffic to their website and saw a 5.98% return on ad spend (ROAS) and 54% increase on product page visits as a result. Dynamic Showcase Ads (DSA).
It might seem counterintuitive for retailers to focus on returns when they are so focused on trying to convince customers to buy products in the first place (and rightly so). However, return policies actually have a major influence on whether shoppers go through with a transaction — particularly for increasingly popular online purchases.
There’s no shortage of companies trying to crack the code of socialcommerce in the U.S. from the biggest social media platforms to small start-ups. Video commerce is the delivery of content. It ties together the best of affiliate, the best of influencer and the best of digital into socialcommerce.
When it comes to socialcommerce or ‘shopper-tainment’, the valuations of this burgeoning space can fluctuate wildly. One report claimed that social experiences will directly influence US$42 billion of e-commerce sales in Southeast Asia by the end of 2022. A refresher. Best practices from China.
.”; Growth opportunities , including guidance on selling luxury goods in China from Christina Fontana, Director of Strategic Partnerships at Alibaba Group , who stressed the importance of socialcommerce, particularly livestreaming.
Second, social media has now evolved into socialcommerce, with upwards of 80 per cent of social media users engaging in shopping-related activities. Growing numbers of consumers cite social media channels as their preferred means of product discovery. In the UK, socialcommerce is already worth £7 billion (A$13.4
Navigating digital transformation in 2024’s B2B ecommerce landscape hinges on a deeper comprehension of AI, omnichannel strategies and socialcommerce. Surge in SocialCommerce Adoption Following in the footsteps of their DTC counterparts, socialcommerce is gaining significant traction in B2B ecommerce.
As these methods continue to deliver less and less return on marketing investment, brands must evolve to drive engagement and retention in more relevant and timely ways. There are two primary areas of marketing innovation underway: shopping rewards and socialcommerce. Truthfully, socialcommerce is neither of these.
Second, social media has now evolved into socialcommerce, with upwards of 80 per cent of social media users engaging in shopping-related activities. Growing numbers of consumers cite social media channels as their preferred means of product discovery. In the UK, socialcommerce is already worth £7 billion (A$13.4
For example, YouTube creators carry significant weight — 93% of viewers say they don’t return a purchase that was informed by YouTube [5]. For those who are skeptical about the return of in-store shopping — skepticism be gone. And these creator relationships can extend into the physical world too. Oct 6-10, 2022.
The retailer will use the platform to swiftly implement and improve a number of customer-facing innovations, including ship-to-store, same-day-delivery, socialcommerce and its Virtual Stylist program. In return, fabric will tap Chico’s expertise as an omnichannel boutique retailer to drive its own development and innovations.
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