This week in eCommerce, Shopify went public last week and despite its success experts say that the Canadian tech company is not part of a possible stock market bubble. Yelp’s new partnership with Shoptiques.com will allow its users to browse and buy from the top-rated boutiques on its site. Leaked information has revealed that Wal-Mart.com is launching a new service soon to remain competitive against Amazon’s Prime subscription service. Supposedly called “ShippingPass”, the service is going to be cheaper than Prime, but only available on certain items and in select areas. It was announced this week that YouTube will build-in eCommerce by integrating Trueview with Google Shopping allowing brands to brings users straight from the platform to their retail site. Consumer behaviour is changing rapid thanks to the rise of mobile! Think with Google reports on why merchants should care, and ways they can leverage “I-want-to-buy moments” through mCommerce. During Google’s I/O developer conference the internet giant announced the launch of a new app, Android Pay to facilitate in-app and tap-to-pay purchases, while their initial payment solution Google Wallet will power in store purchases outside of Android. For all the details from this week’s newsmaker, continue reading below!
Don’t Burst Shopify’s Bubble
Why Shopify is not part of a possible stock market bubble
Source: Financial Post
Our friends at Shopify have done well for themselves and their investors since going public last week. Investors who were able to get in on the company’s initial $17 per share offering have already seen great returns, with more to come! After the company made its debut Thursday May 21st, shares climbed as much as 65%. Shopify’s advantage lays in the fact the tech company is a disruptor in its market space with an extremely high growth rate. Some of Shopify’s clients include Google Inc. and Tesla Motors Inc., along with a myriad of smaller businesses. A private investor in the company asserts that despite the price of stocks being high, they do “remain in line with the current interest rate environment and earning expectations”.
Boutique Buying on Yelp’s Platform
Boutique Shopping Goes Digital with Shoptiques.com on Yelp Platform
Source: Yelp
Following a partnership with Shoptiques.com Yelp will soon allow consumers to shop directly on their website for local fashions. Yelp is enabling its site visitors to browse and buy from the top-rated unique boutiques on its Yelp Platform. Consumers will be able to avoid the crowd and shop from the comfort or their own home, or if they prefer, browse a store’s stock online first on Yelp then try-on in store. Even better, Yelp can bring you the full-on omnichannel experience, by letting consumers shop online and choose to pick-up in-store. At 23% of all reviewed businesses “Shopping” is Yelp’s largest category. 200 business are live at the time of this new partnership launch, but Yelp plans to roll out thousands more by the end of the year. So far 1.5 million transactions have been completed on the Yelp Platform since its launch.
Wal-Mart’s Attempt to Remain Competitive
Leaked Site Reveals More Info On “ShippingPass,” Walmart’s Answer To Amazon Prime
Source: TechCrunch
Amazon has its Prime subscription service that offers its users free two-day shipping for $99/year, where does that leave retail giant Wal-Mart? Recently information was leaked on Walmart.com that might have revealed some of the corporation’s secret tactics to remain competitive online. “ShippingPass” accidentally went live on Wal-Mart’s site this week, allowing some users to sign-up and even place orders – giving some the inside scoop on the new program and current locations the service is open to. Wal-Mart’s service could be cheaper than Prime. On the internal site that went live, the price was advertised at $1 per year, but a newer waitlist page says the price will be $50 per year. Those that were able to sign-up this week received an apology email from Wal-Mart plus a $50 eGift Card. Only select items on the company’s website will be available for three day shipping and will be identified with a badge. Three day shipping is only guaranteed to those in select locations who have placed an order before noon local time.
Built in eCommerce on YouTube
From window to shop: YouTube woos brands with ecommerce plans
Source: MediaWeek
YouTube is adding incentive to advertisers and buyers. This week the online video streaming platform will build in eCommerce into their video ads by integrating Trueview with Google Shopping. Some brands had previously went through the pains of setting this up themselves, like Diesel and French Connection, but now for others it’s easy to set-up through its Merchant Centre. Youtube’s video advertising revenues are healthy enough, however adding in an interactive component would benefit the giant that much more. Consumers are becoming more comfortable shopping online, case studies from the US show that brand’s advertising on YouTube are seeing the results. Sephora, a multinational beauty retailer, as seen an 80% lift in consideration with a 54% lift in ad recall. This announcement comes shortly after Google shared that they will be adding a “buy” button to mobile search results.
mCommerce is Changing Consumer Behaviour
I-Want-to-Buy Moments: How Mobile Has Reshaped the Purchase Journey
Source: Think with Google
The internet and the devices we use to browse the internet have changed the way we consume. The majority of the time when one makes a big-ticket purchase or find out more about a product, you’ll turn directly to your mobile device. According to Google, 93% of people who use a mobile device for research make a purchase! Brand that are tuned into this new consumer behaviour are able to leverage it for the better. With the understanding in mind that each time a buyer pulls out their mobile device in-store it provides a new opportunity. Take Sephora for example, they’ve set up their app to pull product reviews when an item is scanned. YouTube is the top source for products reviews, with more than 1 million channels that have creators sharing their opinions about different items – the numbers show that after a consumer watches one of these videos they’re more open to buy. mCommerce doesn’t stop at the mall; those in the market for a new car are shopping online while on the lot. In the auto category mobile searches are growing 51% year-over-year. Click here to find out how you can win “I-want-to-buy moments” with your consumers.
Hold On Apple – Google is Still Here
Google introduces Android Pay, a replacement for its wallet app on mobile
Source: The Verge
This week at the Google’s I/O developer conference Google made sure everyone knew that they haven’t been beat. In an attempt to keep their mobile payment solutions relevant and competitive Google has launched Android Pay, which will take the place of Google Wallet. This is where they lose me; Google Wallet will remain, but will only power in store purchases outside of Android. The new application, Android Pay will power in-app and tap-to-pay purchases. We won’t hold it against them, carriers and manufactures have gotten in the way of letting Google Wallet become all that it was promised to be. According to Google seven out of ten devices are ready for Android Pay and 700,000 merchants can accept it today.
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