eCommerce is having a moment and it might last longer than you’d think
With the COVID-19 lockdown impacting our day-to-day, it’s no surprise that eCommerce is thriving. As reported by Adobe Analytics, American eCommerce sales are up 49% since mid-March and continue to trend upwards. It’s not just happening in the US, either. ECommerce platform, Shopify, recently became Canada’s second most valuable company, eclipsing more well-known digital platforms like Ebay and Etsy.
Shopify is changing the game for mobile shopping
With the news of their increased value, Shopify also launched Shop, a first-of-its-kind mobile app designed to create a more intuitive and frictionless shopping experience. With Shop, users can easily track orders, receive local recommendations, follow their favourite brands, and more. Click here for the full rundown.
Amazon continues to grow in size and ad capability
With more and more people ordering products online, Amazon showed somewhat of an immunity to the pandemic, with Q1 ad revenue growth in line with 2019’s Q4. Up 44%, Amazon ads are proving to be more effective now than ever, even with consumers and businesses alike reducing spend. In addition to their ad growth, Amazon launched Product Targeting as a new feature to their Sponsored Display Ads, allowing brands to run ads based on related products. Oh, they also hired 175,000 new employees, which on its own would make for the 9th largest city in Ontario.
Google hasn’t been so lucky and companies could take advantage
Despite search volume and online activity reaching record heights, Alphabet is forecasting a rough quarter for Google. With more and more companies cutting ad budgets amid the pandemic, Google’s ad revenue has taken a significant hit. That said, with fewer companies launching campaigns, the digital ad space is lacking its usual level of competition. This should result in lower keyword costs and more eyes on your brand versus the field.
The main takeaway
We don’t know how long this is going to last, but one thing is for sure – those with the foresight to get in on eCommerce early on are benefitting. It’s been suggested that eCommerce will maintain its new position as the preferred way to shop even when things go back to normal. If that’s the case, unequipped businesses are going to need to make the change or risk falling behind.
So, if you’re a business in need of guidance or assistance when it comes to going digital with your products, service, and transactions, we should talk.