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What's Hot This Week In Ecommerce (Industry Updates You Shouldn't Miss)
All about Prime Day 2024, the Walmart+Disney partnership, Amazon's income based targeting, and more.
Amazon and Walmart Strive to Keep Lower-Income Shoppers While Eyeing Luxury Market
Amazon introduced Amazon Access for affordable shopping, with options like SNAP EBT, Layaway, and discounted Prime memberships. Sellers should offer flexible payment options and discounts to attract price-sensitive customers.
Amazon and Walmart are targeting high-income consumers while retaining lower-income shoppers. Sellers should diversify products to cater to both segments.
Amazon has a higher share of high-income consumers, while Walmart’s customer base is evenly distributed. Sellers should tailor marketing strategies to target different income groups on each platform
💸With over 20% of consumers living paycheck to paycheck, affordable options and value-driven initiatives are crucial. Sellers should emphasize value and competitive pricing in their marketing.
Find out how advanced data-driven seller tools are helping the top 5% sellers reach their target audience better by clicking here.
Amazon Prime Day is returning this July, bringing thousands of deals and discounts across all of Amazon's major categories.
With just weeks to go, anticipation is building for Prime Day 2024.
📆 Amazon Prime Day 2024 will take place in July, likely on July 9-10, though exact dates are yet to be announced.
The event spans 48 hours, offering deals and discounts across all of Amazon's top categories.
Last year's top sellers included Apple AirPods, Beats headphones, Bissell cleaners, and products from brands like Caraway, JBL, and Sony.
Last year's Prime Day was Amazon's biggest sales event, with over 375 million items purchased worldwide.
Preparing for Prime Day 2024 well in advance is crucial. This Prime Day will possibly be the biggest ever. Make the most of it by keeping your listings updated and discoverable.
Try using Foresight AI, a free AI tool that builds keyword-rich product listings by leveraging customer and market data. Click here to try Foresight AI for FREE.
Amazon Prime Day is changing retail
🧐 Due to inflation and economic uncertainty, consumers are increasingly price-sensitive and seeking value, leading them to shop based on price across different retailers.
More than half of online spending is now made via mobile devices, with 52.5% of holiday shopping in 2024 expected to be done on mobile.📱
Amazon Prime Day, with its significant sales, forces other retailers like Walmart and Target to offer competitive deals, creating a major shopping event in July.
While electronics and apparel remain top categories, groceries now account for over 10% of online spending, reflecting a shift in consumer priorities.
Inspired by Prime Day, retailers use summer sales to clear out old inventory and prepare for the holiday season, which now starts earlier and extends longer, peaking from Black Friday to Cyber Monday.
💡 Find out how you can manage your inventory with the help of advanced seller tools by clicking here.
🤖Find out how you can use AI to prepare better for Prime day by clicking here.
Walmart Teams With Disney in Race Against Amazon for Streamers’ Spending
Disney Advertising partnered with Walmart Connect to leverage Walmart’s customer data for targeted ads on Disney+ and Hulu, reaching 145 million weekly Walmart shoppers.
Amazon introduced new interactive ad formats on Prime Video, including shoppable carousels and pause ads with add-to-cart functionality, to enhance the shopping experience.
Data shows over three-quarters of consumers use connected devices while engaging in leisure activities, with 1 in 3 shopping while streaming content.
🤝Walmart is using its partnership with Disney to close the market share gap with Amazon, which holds a 10% share of total consumer retail spending compared to Walmart’s 7.3%.
Companies like Walmart, Amazon, and Paramount are competing to capture streaming viewers’ shopping loyalty, highlighting the importance of interactive and engaging ad formats.
💡Tip: If running Amazon ads becomes expensive and time-consuming, consider using advanced AI-powered tools to automate your advertising efforts.
These tools are now more affordable and efficient than ever. The top 2% of sellers use some kind of such advanced tools to sell efficiently.
Next-Level Ecommerce: How AI is Transforming Personalized Shopping Experiences
AI is changing ecommerce by crafting hyper-personalized shopping experiences. It uses data like browsing patterns and purchase history to understand consumer behavior and predict future buying actions.
AI-driven algorithms and machine learning models dynamically adapt to shopper inputs, refining product discovery processes to ensure searches and recommendations align with individual interests.
AI enables real-time price adjustments based on market demand, customer profiles, and purchasing behaviors, a strategy particularly effective in B2B ecommerce.
🔮 AI's role in ecommerce will continue to grow, with future advancements like augmented reality (AR) for try-before-you-buy experiences and voice shopping, promising even more personalized and efficient shopping journeys.
💡Tip: Did you know you can enhance your Amazon workflow with Generative Al for free in just a few easy steps? Consider tools like Foresight Al, which optimizes your listings using billions of customer and marketplace data points. There are many similar tools available at no cost. Don't miss out. Click here to access for FREE.
Keep your listings updated before Prime Day 2024, using AI 🤖
You can now put AI to work to create listings that convert for your products for FREE
Foresight is a FREE cutting-edge tool that takes the guesswork out of ecommerce product listing optimization.
Foresight generates listings for your products on Amazon by analyzing market trends and consumer behavior. It provides precise suggestions for optimizing your titles, descriptions, and keywords. By using Foresight, you can increase your product's visibility and sales potential with data-driven strategies.
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(Just in: Walmart is on the rise 📈. Watch the video above to learn more.)
