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Cyber Week ended strong this year—will you?

ECOMMERCE NEWS

Here's a good surprise: Cyber Week 2023 was a big hit! Contrary to the anticipated "chill" Cyber Week, shoppers went all out this year and spent $38 billion—a 7.8% increase from last year!

MarTech said Cyber Monday was the star of the show, pocketing $12.4 billion in total. Here's a rundown of what happened during the 5-day sales extravaganza:

What's more:

  • Black Friday raked a whopping $16.4 billion! Discounts reached as high as 30%, but the growth figure is a tad slow at 7.5%.
  • Convenience comes first, as 80% of shoppers opted for standard delivery, and 12.7% went for curbside pickup.
  • Buy Online and Pickup In-Store (BOPIS) accounted for 24% of consumer traffic on Black Friday.
  • In-store visits increased by 4.6% compared to Black Friday 2022 despite the 2.4% annual decline in foot traffic throughout 2023.

A promising holiday season ahead

December has already begun, but these numbers confirm that the rest of the holiday season is in full swing. Apparently, consumers are willing to spend—especially if there are enticing discounts and convenient shopping options.

All in all, the stage is set for a prosperous holiday shopping season. So, make sure to grab every sale opportunity and prepare your store for a strong year-end. 💯

TOGETHER WITH STACK INFLUENCE

Why you should let micro-influencers write your holiday success story

Want to increase your brand’s reach for a new product launch? Stack Influence’s marketing solution can help you get viral (in a good way)!

🍿 A success story

Let’s look at how an upcoming beauty brand, Neutralyze, increased its social media presence and organic traffic. With Stack Influence’s help, they achieved:

  • 1,159 active influencer promotions in over 6 months
  • 1,368,487 total social media post impressions
  • 118, 253 total social media post engagements
  • 1,083,016 total social media post views

What’s even more amazing is that they completed all promotions in just 2 months! Plus, they gained high-quality user-generated videos and photos with full license rights. 😯

🫵 Your story could be next

All you need to do is set up your campaign and let Stack Influence do its magic. 🪄

So, are you ready to make your brand bigger and better?

BITES OF THE WEEK

AMAZON NEWS

Chinese sellers are disappointed with Amazon’s Black Friday sales

Despite Amazon’s epic Black Friday record, Chinese sellers on the platform aren’t too happy with their sales. Their disappointment could be a big concern as they make up 63% of Amazon sellers—much more than U.S. ones.

In a report by Yicai Global, many sellers of household items, small home appliances, and daily necessities shared that this was their worst Black Friday. A big clothing brand that makes over $10 million a year also said their sales decreased by half!

🔍 What went wrong?

Amazon ran its Black Friday deals from November 17 to 24, almost immediately following its fall Prime Day. Because of this long sale period, shoppers became less impulsive in buying.

Also, there is tough competition from new ecommerce players that joined the Black Friday craze:

  • Temu started its Black Friday warm-up on October 20, offering heftier discounts and coupons than Amazon.
  • TikTok Shop’s Black Friday debut lasted from October 27 to November 30. It funded sellers to offer discounts of up to 50% to convince them to join the promotions.
  • AliExpress invested a lot in Black Friday deals this year, going as far as stocking its warehouses with inventory 10 times larger than last year.

🔮 The future of Amazon

With the rising seller concerns, new ecommerce players, and ever-changing buyers’ behaviors, the future of ecommerce looks uncertain. And while Amazon won’t easily buckle in front of these hurdles, we can’t help but wonder if it can maintain a big edge over its emerging rivals.

HOT TOPIC

How will consumers shop this holiday season?

There have been a couple of predictions regarding how people will shop this holiday season. Some are optimistic, and others are a bit discouraging.

Regardless, retailers worry about how the buyers' unpredictable buying mood will affect their sales. The Seattle Times shared some insights into the "murky predictions" for the season.

🗣️ What are the consumers saying?

In summary, people plan to spend this season wisely. This means sticking to their shopping lists, shopping early, and waiting for discounts. 🏷️

What does this mean?

It means holiday sales will be "decent" this year—just not as strong as those in the past years. According to Wells Fargo's senior economist Tim Quinlan, the higher rates and lower incomes will "make it tougher to have a big pile of presents under the tree this year." 

💡 So, be smart in planning your investments and inventory. You don't want to stock more than you can dispatch, especially amidst the rapidly changing retail arena.

Author : SellerBites
Faith began working on SellerBites in 2021, a weekly newsletter that provides sellers with the latest news and updates in FBA. With first-hand experience in managing various seller and vendor accounts, she understands what sellers face on this platform. Her background led to the conception of SellerBites, which main goal is to help people become better, more informed entrepreneurs in the Amazon marketplace.
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