In 2023, Amazon contributed over €758 million (almost $800 million) to Luxembourg's GDP. This resulted in 6,000 jobs and significant growth in the country’s economic state.
Take note that this isn’t the country where the bulk of Amazon’s services operate. We can only imagine how much Amazon contributes to the U.S.
But even with such impressive capacity, the retail giant isn’t safe from fierce competition. Read on to know who its worthy opponents are this holiday season.
- Four horsemen of the “shopo-calypse” 🏇
- The best sales and conversion booster 🚀
- Foolproof BFCM strategies 👌
ECOMMERCE NEWS
Do you know who the four horsemen of the “shopo-calypse?” are?
Well, they’re Shein, Temu, AliExpress, and the rising TikTok Shop. We came up with the name because according to an article from Forbes, these platforms will “win the holidays” and gain about $160 billion in global ecommerce revenue! 💰
How will they do that?
There are many reasons why shoppers are turning to these platforms. Here are the main takeaways:
1. Price point
- Shoppers plan to spend more this holiday season, but their purchasing power is reduced, especially among U.S. consumers.
- This makes Temu and Shein's ultra-low prices hard to beat. Lower product quality and slower deliveries are some of the tradeoffs buyers are willing to risk. 🤝
2. Process and promotions
- These platforms streamline their supply chains, using technology to connect Chinese manufacturers directly to customers.
- Shein releases products on demand, albeit in small batches. To top it off, their process involves partnering with influencers.
- The platforms’ promotions on social media are extensive and hard to ignore. (No wonder, Western retailers are copying their strategy. 👀)
3. Mobile-friendliness (and fun)
- More people are using mobile devices to shop. But 40% of people said they find shopping on mobile difficult.
- This isn’t a problem for Temu and Shein, which hooked shoppers with heavy engagement tactics, such as gamification and video shopping.
🫵 Do you want to sell on these platforms?
If yes, do note that the competition will be tight. To have a good fighting chance, you must learn how to leverage AI-driven pricing, promotional strategies, loyalty programs, and gamification tactics.
TOGETHER WITH INSENSE
The best way to boost your sales and conversion rate this holiday
UGC video ads are high converters, especially for BFCM and holiday campaigns, because they influence purchase decisions.
There’s still time to get UGC and set up influencer partnerships ready for these holidays.
It only takes up to 14 days to win this Q4 through Insense’s managed service; they manage the entire UGC video production for you from creative research to post-production!
Join 1,700+ eComm brands using Insense, including:
- Opopop - Insense produced 17 ready-to-use videos that generated 14+ million impressions and 11,000+ conversions
- Bones Coffee - Received 54 UGC ads in 3 months which achieved 2.16 ROAS and 21% CTR
Book a no-commitment strategy call to learn more.
BITES OF THE WEEK
- Advertise with Alexa: Alexa is now available as a video supply source in Amazon DSP.
- Watch and Shop: Your Amazon shoppable videos may now appear automatically on global listings.
- B2B Refresher: Learn all about B2B ecommerce—the different types, benefits, and strategies.
ACTIONABLE ADVICE
8 effective ways to boost your BFCM sales
With so much competition during Black Friday and Cyber Monday, you need a standout plan to win big.
💡 The good news? There are a lot of ways to do this, as enumerated by eCommerce Fastlane:
- Start promotions early. Build anticipation with early promotions, sneak peeks, and countdowns. Teasers like “Save the Date” notifications get shoppers excited and ready to buy.
- Offer app-exclusive discounts. Flash sales, tiered discounts, or bundles make shoppers feel special and keep them coming back.
- Personalize recommendations. Use data to send users tailored product suggestions and notifications. It makes the experience smoother and increases your sales.
- Team up with influencers. Choose influencers who can connect with your audience. Their endorsements build trust and expand your reach.
- Create urgency by adding countdown timers or “low stock” alerts to your app. These features push users to buy before it’s too late.
- Use interactive content. Shoppable videos make shopping fun and easy. Customers can easily add items to their cart while watching.
- Send timely push notifications. Keep customers engaged with real-time updates on flash sales and cart reminders to drive instant action and boost conversions.
- Follow up after BFCM. Offer loyalty rewards or holiday discounts to retarget those who left items in their carts.
✨ It’s your moment to shine
BFCM isn’t just about quick sales—it’s a chance to create loyal customers. With the above strategies, you’ll not only win the season but also keep them coming back after.
