According to TikTok Shop, U.S. sellers need to learn the hacks sellers in Asia use to maximize their profits. Specifically, the platform is talking about live selling and social commerce.
But this is easier said than done, considering the potential differences in U.S. and Asian consumers. What if a clash happens, like in the hot news we have for you today?
- Battle of holiday sales events đź›’
- The ultimate strategy to be an omnichannel seller đź§
- Amazon vs. Walmart: Who’ll win the search game? 🔍
HOT TOPIC
Amazon’s Prime Big Deal Days may be over, but the milestones the event achieved this year still linger. The retailer boasted that this year’s fall Prime Day raked in more sales than any October sales events in the past. 🤑
While it’s definitely good news to Amazon and its sellers, the New York Post said it’s disrupting Black Friday.
Why?
- Boosted sales: Sellers like Jay Kamhi, creator of Mr. Predicto, have seen dramatic increases during Prime Big Deal Days. His store earned over $47,000 in 2 days, compared to $16,000 before or after the sale.
- On average, Amazon sellers experience a 250%–350% increase in sales during Prime Big Deal Days.
- Pandemic shift: The growth of online shopping, especially among older generations, has helped boost Amazon’s sales.
- Amazon’s charm? Its same-day delivery services! 💨
- Retail competition: Other retailers, like Target with its Circle Week, are creating competing events to challenge Amazon’s October sale.
đź–¤ Black is back
Despite its success, Fall Prime Day is not likely to dethrone Black Friday any time soon. Yes, it’s taking a chunk of Black Friday customers, but Black Friday is returning with exclusive in-store deals and promos to incentivize shoppers.
In fact, U.S. retail sales are expected to reach a record-breaking $75 billion during BFCM this year, representing a 5% growth since last year.
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BITES OF THE WEEK
- New Financing Solution: Fintech Storfund has partnered with TikTok Shop to solve delayed payouts for U.S. sellers.
- Meet AI Agents: What are the pros and cons of AI Sales Agents?
- Safety in Numbers: Don't face the risks of online selling alone—join a seller community!
ECOMMERCE NEWS
Who has better search capabilities, Amazon or Walmart?
As we all know, Amazon and Walmart are competing to be the favorite of online shoppers. And according to PYMNTS, both are taking the rivalry to the search game! 🔍
Here’s how the two retail giants are upping their strategies and tools to become more visible to customers:
🖼️ Amazon’s visual search upgrades
- On October 2, 2024, Amazon announced exciting upgrades to its visual search tools. Shoppers can now:
- Use images to find products.
- Add text to searches with uploaded photos.
- Get “More Like This” recommendations.
- Thanks to these cool features, Amazon got a 70% increase in visual searches!
🛍️ Walmart’s new shopping assistant
- Walmart is stepping up its search game on its website and app.
- CEO Doug McMillon revealed a new shopping assistant that can:
- Answer questions like “Which TV is best for watching sports?”
- Ask follow-up questions to help customers make choices.
Who’s winning the ecommerce share?
- A recent study shows that Walmart's ecommerce share has jumped from 5.7% to 7.7% in just 4 years. That’s a whopping 35% increase!
- Trivia: They’re targeting Amazon’s best customers with new strategies. 🏹
- On the flip side, Amazon still leads with a hefty 53% share, but that’s only a slight increase from 48% 4 years ago.
As these retail giants improve their search tools, they’re not just trying to win loyal shoppers—they're also elevating ecommerce standards! With better search options, the big question is: Which retailer will come out on top in this exciting clash for ecommerce supremacy? 🏆
