The Webretailer News Digest for December 2, 2022
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Happy Friday to you all, and a special Happy Birthday to my mom in Texas! Here’s a statistic for you: 48% of digital sales came from a smartphone on Black Friday 2022. eCommerce 101: If you want to convert leads, optimize your mobile layout.
Today’s news is 900 words and takes 3 minutes and 10 seconds to read.
Inflation a non-factor this Black Friday; Cyber Monday soars
Black Friday and Cyber Monday are a week behind us, and companies are now focusing their efforts towards the rest of the holiday season. But not without a little encouragement from the numbers that came in.
According to Adobe Analytics’ 2022 Holiday Shopping Report Black Friday netted eCommerce businesses 9.12B in revenue and Cyber Monday raked in 11.3B. That’s a 2.3% jump year-over-year and a punch to the face of anyone who predicted inflation would stifle holiday shopping.
Popular categories
Electronics, games, and toys were all hits during both shopping events. In fact, they dominated the top 5 products for both days.
| Black Friday | Cyber Monday |
| Xbox Series X | Legos |
| Bluey | PlayStation 5 |
| Call of Duty: Modern Warfare II | Hot Wheels |
| Drones | Madden 23 |
| Macbooks | Smart watches |
Mobile transition
Although desktop is still on top, the number of purchases made with mobile devices continued to climb. 41.5% of the total revenue share in the first half of November came from smartphones, and 59.7% of digital visits to retailers originated on one. And on Black Friday, 42.4% of eCommerce revenue also came from smartphones — a 2% increase year-over-year.
Final notes
There were a lot of predictions regarding the post-Thanksgiving shopping events, but here’s an overview of what happened.
- With inflation in place, people waited patiently for Black Friday and Cyber Monday deals this year. Consumers knew large corporations would eventually offer deep discounts, and they did — on select categories.
- People are using credit and ‘buy-now-pay-later’ (BNPL) options to get by this holiday season. The Federal Reserve Bank of New York reported a credit card balance increase of 15% compared to 2021 — the largest increase in over 20 years, and Adobe Analytics reported a 13% increase in BNPL usage.
- The inventory for consumer electronics is going to take a hit this year as customers buy up gifts for the holidays. It’s going to take a while to resupply.
Big Retailer News
eBay doubles photos capacity
Back in September, eBay reported the release of a slew of new features and categories coming to the platform. There were many on the list, but we failed to mention a key feature eBay launched this week, officially. The company raised the number of photos sellers can add to a listing from 12 to 24.
Don’t be late to the party
Mega sellers on the site are probably already aware of the photo change as eBay started rolling the feature out a few weeks ago. If you’re late to the party, it’s time to get connected into the eBay seller community.
Photo tips
eBay offers tons of tips to help sellers optimize photos for their listings. Here are some highlights:
- Don’t use flash
- Use a white background
- Don’t overlay text
Macy’s follows eCommerce trend for established brick-and-mortar chains
It looks like Macy’s is reading the same playbook as large brick-and-mortar chains like Target and Best Buy. In a recent Q3 announcement, the company stated it intends to open 35 distribution centers within its existing stores.
Digital goals
The move aims to create an omnichannel line where customers can shop whenever and however they want. And according to CEO Jeff Gennette, the company is exploring the scale down of some locations where digital presence outweighs in-store shopping.
Final Quote
“The investments we’re making in our supply chain, both upstream and downstream, our focus on simplifying our processes and modernizing our technology, are further enhancing our [ability] to move product to our customers faster while driving greater supply chain cost efficiencies.” – Adrian Mitchell, CFO Macy’s.
Also in the News
International Retailer News
China’s Tencent shifts focus to SaaS eCommerce sales
If you’re not familiar with Tencent, it’s China’s top online gaming platform, which may not seem of interest to web retailers. But with the Chinese government cracking down on gaming with laws limiting the number of hours kids can play, the company is moving towards the eCommerce space overseas.
What’s the buzz?
According to a report from CNBC, the gaming company is launching a series of cloud products in the audio and video space for markets outside of China. The company is already dealing with the gaming limitations, and that’s being coupled with China’s economic woes. To deal with the situation, they’re expanding their revenue streams.
Tough sell
The move is a bit late as Alibaba already started selling cloud computing products a couple of years ago. And Amazon and Microsoft dominate the market in the US. But the move makes sense as Tencent can’t just sit around waiting for regulations to lift.
Alibaba launches Miravia in Spain
There’s been rumors circulating about Alibaba opening an eCommerce platform in Spain over the past month. But it’s now confirmed that Miravia officially launched yesterday.
A marketplace for locals
The site offers a wide range of Spanish products mixed in with European brands and international brands that source from China. The marketplace has an eclectic product lineup, and they’re offering loads of discounts and promotions to draw customers in.
The site is still in its ‘rollout’ phase, so we can expect more updates to come.
Also in the News
- TikTok Shop taps eCommerce startups for help in the UK. Financial Times (paywall).
- Mercado Libre lays out challenges and opportunities for eCommerce in Latin America. PYMNTS.
Webinars
For everyone
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Prime Day Preparation, Sponsored Products, Sponsored Brands, reporting, optimization, and other tips. Amazon.
For US sellers
December 8: How to Engage New-to-Brand Amazon Customers in 2023. Tinuiti.
December 8: Create, Launch and Run Your Commerce Marketplace. DC360.
For UK sellers
December 5: Digital Markets Act Stakeholders Workshop. ChannelX.
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Prime Day Preparation, Sponsored Products, Sponsored Brands, reporting, optimization, and other tips. Amazon.
Awesome article!