February eCommerce Updates from Trellis Partners

February brought a wave of transformative updates in the eCommerce world. Let’s spotlight major shifts and innovative introductions from industry giants and rising stars alike. From Walmart’s impressive leap in online sales to Shopify’s commendation as a top leader in B2C Digital Commerce, the competitive landscape is rapidly evolving.

BigCommerce’s educational series, “B2B Bites,” promises to demystify B2B eCommerce complexities, while Rebuy’s Smart Search aims to revolutionize how customers find and engage with products. Yotpo enhances customer connection through multilingual review request emails and incentivized review badges, underscoring the importance of trust and personalization in online shopping.

Let’s dive into the details of each update, as we navigate the bustling world of eCommerce together.

What’s New in eCommerce

Walmart vs Amazon Sales

Walmart achieved a significant milestone last year by reaching $100B in online sales, marking a 23% year-over-year increase. Although Amazon maintains a strong lead with $255.9B in sales, Walmart’s progress shows the narrowing gap between the two retail giants. Walmart is growing its presence in the digital marketplace to further challenge Amazon’s dominance.

Overstock.com Relaunch on Shopify

Overstock.com is planning to relaunch its store on Shopify in about five weeks. It was shut down last year after acquiring Bed Bath & Beyond’s intellectual property in a bankruptcy auction for $20M in favor of operating on its business on Bed Bath and Beyond instead. Marcus Lemonis, executive chairman of the board, said that, in hindsight, shutting down their website was a “fatal mistake.”

Fraud Consumer Report from Loop

​Loop’s Fraud Consumer Report reveals that nearly 40% of shoppers have either engaged in or are aware of return policy abuse or fraudulent behaviors within the past year. Furthermore, a considerable number—ranging from 20% to 30%—regularly partake in these deceptive practices. Alarmingly, 31% confess to ‘wardrobing,’ which involves using items with the premeditated intent of returning them, at least on a weekly basis. Consequently, this report highlights the significant hurdles that retailers encounter regarding return policies. For an in-depth understanding and access to the complete report, one should visit Loop’s website.

February eCommerce Updates from Shopify

Shopify Named Top Leader

Shopify was recognized as a leading platform in the IDC MarketScape for B2C Digital Commerce for mid-market growth. This acknowledgment highlights Shopify’s effectiveness in providing solutions that cater to the dynamic needs of B2C businesses seeking significant growth. According to the report, “Shopify will be particularly attractive to buyers looking for a multitenant SaaS digital commerce platform with a proven track record in DTC, a vast 3P ecosystem, low TCO, and built-in payments.”

Shopify’s Impressive Growth in 2024

In 2024, Shopify significantly outpaced the broader US retail market by powering $236 billion in GMV. It also marked a milestone by recording over $2.1 billion in revenue for the first time, alongside $446 million in free cash flow in Q4. The company experienced a 26% revenue growth and 23% GMV growth year over year, underscoring its increasing impact on the eCommerce sector.

B2B Discounts Automation

Shopify Editions recently introduced a new feature for B2B merchants. Shopify Functions, now enable them to set up B2B-specific automatic discounts. This can be done through custom or third-party apps, offering tailored discount solutions for B2B sessions. This development allows for more personalized and efficient discount strategies within the B2B segment of Shopify users. For more information on applying these automatic discount functions, visit Shopify’s developer changelog.

Shopify Plus Price Change

Shopify has updated its Plus pricing, now set at $2,500 per month for a year, an increase from the previous $2,000. This change reflects Shopify’s commitment to enhancing its platform and services for high-volume merchants and large businesses. The new pricing strategy aims to align with the advanced features and support Shopify Plus offers. For detailed information on what this change means for merchants and the benefits included, please visit Shopify’s official Plus pricing page.

February eCommerce Updates from BigCommerce

B2B Bites: A Make It Big Series

BigCommerce has launched “B2B Bites,” a new video series aimed at demystifying the world of B2B eCommerce. This series will feature interviews with industry leaders, such as Isaiah Bollinger, CEO of Trellis, how-to guides, trend analyses, and success stories. Topics will cover a wide range, from business preparation for an exit to SEO optimization.

This initiative is designed to provide B2B eCommerce professionals with accessible, actionable insights. For more information and to explore the video series, check out BigCommerce’s website here.

Product Info & Updates Hub

BigCommerce now offers a centralized location where you can stay updated on all Product Updates. This is a valuable resource for keeping abreast of the latest features and enhancements designed to improve your eCommerce experience. To explore these updates in detail, visit BigCommerce’s blog section dedicated to product information and updates here.

February Updates from Rebuy

Rebuy has introduced Smart Search, a new feature designed to enhance eCommerce search functionality. This AI-powered tool enhances product discovery and merchandising, driving revenue with detailed analytics. In particular, it offers personalized search results, quick view options, global search features, and efficient marketing strategies based on search data. As a result, merchants can easily manage inventory and customize the search experience with pre-configured templates or custom code.

February eCommerce Updates from Yotpo

Custom Review Form Data Sync

Yotpo now offers Custom Review Form Data Sync, a feature that enhances marketing by allowing for the creation of targeted segments based on custom review form data. This means marketers can reach specific audiences by filtering attributes, such as skin type, to maximize marketing campaigns’ effectiveness. This tool not only collects more user-generated content but also enriches customer profiles with valuable attribute data, offering a nuanced approach to personalized marketing.

Multilingual Review Request Emails

Yotpo Reviews has introduced multilingual review request emails, significantly enhancing businesses’ ability to connect with global markets. This innovative feature skillfully identifies a customer’s language when an order is placed. It seamlessly translates review request emails and landing pages into over ten languages. Undoubtedly, this advancement marks a pivotal move towards customizing customer interactions and broadening international reach, making it easier for businesses to communicate effectively with a diverse customer base. For further details on setting up and utilizing multilingual review emails, please refer to Yotpo‘s support documentation here.

Incentivized Reviewer Badge

Yotpo introduced Incentivized Reviewer Badges, aimed at enhancing transparency with consumers by indicating when reviews have been incentivized. This feature not only builds trust between consumers and brands by clearly marking such reviews but also aids in converting more shoppers by demonstrating brand transparency. For more information on how to implement and leverage the Incentivized Reviewer Badge, visit Yotpo’s support page here.

Online Media Upload

Yotpo has recently expanded its suite of features by introducing Onsite Media Upload, thereby elevating the acquisition of Visual User-Generated Content. This innovative function enables reviewers to attach up to 10 images and 3 videos alongside their reviews directly on your website. Consequently, this feature empowers customers to provide more detailed feedback, significantly enhancing the review experience and assisting prospective buyers in their purchasing decisions. For instructions on how to activate this new capability, you can consult Yotpo’s support support documentation here.

Anchor Dates

Anchor Dates in Yotpo allow merchants to decrease payment failures and gain control over billing and delivery schedules. In particular, by setting subscription rules, merchants can specify exact days for charging and delivering orders, improving the subscription management experience. The first order is billed at checkout, while subsequent orders follow the established schedule. For detailed setup instructions, visit Yotpo’s support page on offering prepaid subscriptions.

Customer Behavioral Tracking

Yotpo’s enhanced site activity tracking now includes Time Spent Behavioral Tracking for products and collections, enabling more precise targeting of high-intent customers through email and SMS marketing. By analyzing the time customers spend browsing, businesses can send tailored messages, significantly increasing engagement and campaign ROI.

Brands utilizing these behavioral data points have seen up to a 73% increase in campaign ROI. For more on optimizing customer engagement through email and SMS marketing, visit Yotpo’s guide here.

New Tech Integrations

Yotpo’s Integration Center has made significant strides in streamlining the connection of your tech stack by broadening its partner ecosystem. This expansion allows merchants to utilize zero and first-party data with greater efficiency. Acting as a central hub, it simplifies both setup and management processes, thereby saving valuable time and boosting customer engagement throughout their journey.

The integration between Yotpo and Klaviyo empowers brands to tailor their subscription email notifications within Klaviyo, facilitating the creation of targeted segments and automated flows triggered by subscription activities. Thanks to this advanced customization, brands can significantly boost the relevance and impact of their interactions with subscribers.

Similarly, Yotpo’s collaboration with Rebuy introduces a powerful synergy for driving growth through personalized subscription upsells. Harnessing the collective data insights garnered from Yotpo Subscriptions and Rebuy equips brands with the power to make informed, data-driven decisions. This strategic approach can finely tune marketing strategies and elevate customer satisfaction. Consequently, these actions play a crucial role in optimizing the shopping experience and amplifying revenue opportunities.

February eCommerce Updates from Bloomreach

Personalization Tags for Email Campaigns

Bloomreach has launched Personalization Tags, revolutionizing email campaign customization for merchants. These tags, accessible in the visual editor, let users include dynamic content like customer attributes and event properties, significantly enhancing email personalization. Consequently, this innovation facilitates crafting more tailored emails, promises deeper customer engagement, and ensures content relevance for each recipient. Thus, it opens up opportunities for more meaningful interactions and elevates campaign success. For an in-depth understanding, explore Bloomreach’s documentation.

February eCommerce Updates from ShipBob

ShipBob announced in its Winter ’24 Release that it’s now offering Amazon Shipping as a new delivery option for eligible US orders. This addition means Amazon Shipping will be listed alongside other shipping options such as FedEx, UPS, USPS, DHL, and ShipBob’s fulfillment partners, offering more flexibility for ShipBob users.

February eCommerce Updates from Recharge

Recharge released its “2023 in Review” report as part of “The State of Subscription Commerce 2024”. This exhaustive review presents invaluable insights into the evolving landscape of subscription commerce, accentuating both pivotal findings and prospective forecasts. Here is a summary of the findings revealed:

• Daily routines & self-care emerge as dominant trends: The Beauty & Personal Care industry led the way in 2023, showing significant growth across all tracked Key Performance Indicators (KPIs), with the Health & Wellness sector also making notable advances in several key metrics.
• Maximize key metrics when leading: For industries and brands experiencing success, the focus should shift towards increasing Average Order Value (AOV), Customer Lifetime Value (LTV), and Monthly Recurring Revenue (MRR) to capitalize on their position.
• Home goods experience a slowdown: After a prolonged period of growth, spending on home goods has declined, impacting the Home & Pets industry. However, this sector still shows strong performance in retention, churn, and MRR, even seeing an increase in its contribution to total gross merchandise value.
• Mid-size merchants see significant growth: Brands with a medium-sized subscriber base witnessed substantial improvements across various areas, suggesting a sweet spot in market dynamics for this segment.
• Challenges for smaller merchants: Smaller companies felt the market shifts more acutely due to their limited subscriber numbers. For these entities, focusing on customer retention and minimizing churn is advised to achieve stability.

February eCommerce Updates from Wonderment

Wonderment introduced Wonderment Delivery Promise, their first additional product, offering transparency on shipping times. This innovative feature provides Amazon-like delivery date estimations, both at the point of checkout and on the individual product pages, thereby nurturing trust and instilling greater confidence in the delivery process among consumers.

Consequently, businesses can now move away from relying on broad, generic estimates. Instead, Delivery Promise offers a more tailored approach by providing an Estimated Time of Arrival (ETA) that is personalized for each customer, significantly enhancing the online shopping experience through this customized touch:

• Zip code and IP based estimates
• Unique for each customer
• Specific to each brand’s shipping data
• Dynamic based on the last 14 days

With this new feature, you can give customers specific details on when they can expect the product THEY want at THEIR address. Moreover, it fits seamlessly next to order tracking. The Delivery Promise is the perfect add-on for all of Wonderment’s existing order-tracking features. Integrations with Klaviyo and Gorgias to make sure that customers are always kept in the loop.

February eCommerce Updates from Okendo

Okendo has launched a new Loyalty tool, to which you can get early access by submitting a quick form. Here are a few reasons why our customers are loving Okendo Loyalty:

• Firstly, Okendo Loyalty offers the convenience of a single, consolidated platform, streamlining the user experience.
• Additionally, the setup process is both seamless and rapid, ensuring businesses can quickly benefit from the tool.
• Notably, the Loyalty tool is built in-house, reflecting Okendo’s commitment to quality and integration.
• Moreover, there is a deep integration with Klaviyo, facilitating advanced personalization strategies that enhance customer engagement.

As an Okendo VIP Partner, Trellis is now offering an exclusive promotion of up to 6 months free. Contact us for more details.

Upcoming eCommerce Events

In our previous blog about January Partner eCommerce Updates, we have already revealed a few upcoming eCommerce events that you wouldn’t want to miss. But this month, we want to highlight the Vercel Ship 2024 event happening in May 2024.

It’s a global conference for builders leading innovations in the AI and development space. If you want to learn more about the latest frontend cloud advancements and connect with the ecosystem to build the best web products, this event is definitely for you!

• Location: New York City, NY / Virtual
• Date: May 23, 2024

The hosts offer free virtual tickets and $250 early-bird pricing for in-person attendance in NY.

Conclusion

February has been a bustling month for eCommerce, marked by strategic growth and enhanced digital offerings. With each development, whether it’s Walmart’s remarkable online sales achievement or Shopify’s distinguished market position, the dynamic of digital commerce is being reshaped. Engaging with these updates is vital for navigating the ever-changing eCommerce environment. Keep abreast of evolving trends and innovations to ensure your online business remains competitive and poised for success.

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