In your wildest dreams can you imagine making $5 million in one day ecommerce sales?
I know. It is pretty crazy! But one Australian company shows that it is possible to do just that! Catch Group broke their previous record of $3 million sales in one day by a staggering $2 million on Black Friday – the 23rd of November, 2018. They made $5 million dollars in one day. Can you even begin to fathom that?
We may be small businesses making a few hundred or a few thousand dollars a day. This case study indicates that it is possible to build a multi million dollar business in ecommerce. How do they do it?
Data analytics provides insight into customer preferences in hospitality retail
Deliveroo have been carefully analysing customer data to find new market opportunities and to track preferences in hospitality retail in Australia. This article provides some insight into what up and coming food and hospitality brands are doing to capture the huge online food delivery market.
Consumers critique ecommerce in Australia
Interestingly, one of the biggest demands of customers shopping online is to have free returns. This is becoming more and more commonplace, with big brands paying for return postage of returns. Is it something that you could implement in your store?
95 % of sales will happen in bricks and mortar stores this Christmas
As much as I hear and understand the pressure that online shopping is placing on bricks and mortar retail. There is a real case for ensuring that you engage omni channel strategies in your retail business. A website can provide the information needed to encourage someone to visit your bricks and mortar shop.
The study in the following article suggests that 95 % of sales still happen in bricks and mortar stores. Customers often want the product straight away, so they will view online then visit in store. They may also want to touch, feel and try the product before buying. For all these reasons, it is advisable to advertise the products in your store on a website. This effectively increases your market to the whole of Australia as well as gives locals extra impetus to visit your store.
Adobe adds a major ecommerce platform to its portfolio
Interestingly, Adobe has added the next logical element to its portfolio in the acquisition of Magento ecommerce platform earlier this year. It is an exciting development, based on the powerhouse of software that Adobe offers in user experience, content management and analytics. I am really looking forward to seeing what they do with this company!
The future of ecommerce looks like this
Can you imagine deciding to do a spot of shopping on any given weeknight, and be able to try on a pair of shoes in your living room, and see what you look like in them? This is what is possible with VR technology in ecommerce.
The innovation from retailers in this area is a little lacking. But in the future, VR will even enable us to generate a 3D model to try for comfort and fit. Pretty mind blowing, I am sure you agree!
Been a really interesting month with the Thanksgiving holidays sales. I hope that you are doing well for a great Christmas on your ecommerce store! Please don’t hesitate to get in touch if you need any help!