This week on Ecommerce Straight Talk we're discussing:
- Last year COVID pushed Prime day from July to October. And with a 17% increase in revenue from 2019, pulled in ~$10 BILLION in estimated revenue. Looking at the trends this year and purchasing patterns, are we going to see familiar numbers this year?
- According to the Morning Brew, Retailers’ Q1 earnings showed us people are back spending $$, with Retail sales up 37% YoY. Walmart, Target, The Home Depot, and Macy’s all reported strong numbers, thanks to continued growth in e-commerce and consumers making larger purchases. BUT, it wasn’t just the big players, either: Shoe Carnival posted its strongest quarter ever thanks to its loyalty program and in-store growth. Despite these impressive figures, analysts expect a leveling off at some point. When do you think retail sales will cool down?
- CNN Business says, Under Armour will raise its minimum wage to $15. With the bulk of service industry workers still collecting unemployment, are we going to continue to see a trend of brands increasing minimum wage?
- Since the advent of Ecommerce, dealing with returns has always been an issue and needed to be added into the margins. This has become an even bigger burden as we see returns averaging around 30% more than the value of the sale... Is it easier just to tell customers to keep the product and send a refund?
- We spoke about this a few weeks ago and its rearing its head again. Shoppable inventory is starting to make rounds on TV Networks and Streaming services. Amazon has been beta testing this idea, but now Netflix, Hulu, and some TV networks want to get on board as well. Allowing people to CLICK and buy while watching. Imagine watching an NBA pre-game and seeing your favorite player showing off some new clothes as he walks to the locker room. With shoppable inventory you will now be able to click or scan a QR code in order to purchase what the player is wearing... Would you ever buy something this way?
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