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This week's top 5 e-commerce trends: 29 July 2022

Business · 3 min read

Any Other Business 29 July 2022

This week’s AOB looks at the latest e-commerce news from around the world, including YouTube’s move into live shopping, and the one eco-friendly feature your customers really care about.

Turn positive reviews into real sales with Okendo

Customer marketing platform Okendo1 is helping online sellers utilize customer reviews to build trust and drive sales. Primarily aimed at D2C Shopify brands, the solution lets them capture high-impact customer-generated content – including product ratings, video testimonials and Q&As – to share on their website and social media channels.

“Merchants can utilize the power of their customers to increase confidence, drive conversion and deliver better performance and customer experiences,” co-founder Matthew Goodman said2.

Sellers can also drive more traffic by showing reviews in paid and organic marketing channels including Google Ads and Facebook.

Currently, over 5,000 of Shopify’s fastest-growing brands are using Okendo. Most impressively, the company claims that shoppers interacting with its tools have a 2.5x higher conversion rate and a 15% higher average order value.

Ghost gives unwanted inventory second life

Excess inventory on your hands? You could hold a sale to shift the stock. Or you could turn to Ghost3.

The US-based start-up matches buyers with retailers’ unsold products across categories including apparel, beauty and perishable goods – with plans to expand into further areas.

Via a dedicated marketplace, suppliers can list their products with SKU information, availability, volume and descriptions, for buyers to bid on. Ghost handles everything from the initial listings to sales, shipment and immediate payment to sellers.

With many businesses using the platform due to liquidation, Ghost places great emphasis on discretion – inventory owners can choose which countries they sell in and whether they appear in Google searches. 

“There is over US$500B of excess inventory sitting on retail balance sheets today. Brands and retailers need a solution that is protected, transparent and scalable,” a company statement said4.

“Ghost combines real-time data with intelligent solutions to help brands monetize their excess inventory discreetly and sustainably.”

Boost sales with eco-friendly packaging

Did you know that your packaging could help your business attract more customers?

In a recent survey of US online shoppers5, 66% said eco-friendly packaging is the sustainability factor most likely to make them shop with a brand. Furthermore, 26% would be more likely to share photos or videos of their purchases on social media if it arrived in “green” packaging – an incentive for brands to make packaging a key part of their marketing strategy.

Goodbye plastic, hello bamboo: check out our guide to sustainable packaging – and save your business money!

YouTube introduces live shopping experiences

Live shopping has launched on YouTube worldwide, thanks to a partnership with e-commerce software platform Shopify.

“YouTube Shopping” allows viewers to buy products from Shopify merchants during a live or pre-recorded YouTube video. Sellers – who must have a minimum of 1000 subscribers to use the feature – can tag products in the livestream or show a list of the featured products underneath, for followers to like, subscribe and buy. Payment takes place through the platform, too.

Merchants must first install the Google channel in the Shopify app store. They can then seamlessly synchronize their Shopify catalogs to YouTube, automatically updating product names, images, pricing and inventory details.

“Commerce today is multichannel, and YouTube is one of the most influential channels on the planet,” said Shopify’s VP of Product, Kaz Nejatian6. “Shopify’s new YouTube integration will fundamentally change what opportunity looks like for independent brands in the creator economy.”

Inflation-wary consumers swap credit cards for savings

With inflation continuing to affect economies across the world, a recent PYMNTS survey7 has unveiled its impact on consumers.

More than half (53%) of those surveyed said their financial circumstances are worse this year than in 2021. Furthermore, credit card interest rates have noticeably increased for over half of consumers, meaning many are rethinking their spending through the payment method.

Of those in a lower income bracket, 17.7% said they think retailers “could do a better job of mitigating price increases on their customers.”

1 - Okendo

2 - Matthew Goodman, TechCrunch, July 2022

3 & 4 - Ghost

5 - Packaging World, July 2022

6 - Kaz Nejatian, Ecommerce News Europe, July 2022

7 - PYMNTS, July 2022

Anna Thompson
Anna Thompson Discover content team

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