What records were broken for eCommerce this week? What is Alexa up to next? Let’s get down to what happened in commerce and tech news in the last week. This post is curated to help tune-out some of that noise and turn it into information that matters.
WHAT'S GOING ON IN COMMERCE THIS WEEK?
Cyber Monday breaks records with $7.9b online
Adobe reports that American's spent 95 million hours, or 20 minutes per person, shopping online on the new big day in ecommerce. Even more incredible is that more than 50% of those sales happened via mobile devices. Other transformational trends are also on the rise, with a 65% increase in click and collect, buying online and picking up in store. Amazon also declared the day the biggest for sales in their history.
Alexa lets you donate to toys for tots
Online shoppers can now donate a toy to a child in need this holiday season by saying "Alexa, donate to Toys for Tots." Users will be presented with a pre-selected range of options at different price points. According to Amazon, the process can take less than 60 seconds. The retail giant will match donated toys up to $100,000 between now and December 31, 2018. Users can also donate to other charities by saying "Alexa, I want to make a donation."
south korea's coupang raises $2b in funding
With sales expected to reach $5B in 2018, the South Korean eCommerce company has the infrastructure to deliver most items within a day or less. While the company is seeing tremendous growth, they posted a loss of about $598 million in 2017. The $2B from investor SoftBank is intended to help spur new growth as they compete with both startups and established retailers in the region.
WHAT'S HAPPENING AT SMITH THIS WEEK
Watch Our Webinar on Endless Transformation
You care deeply about your customers and are dedicated to delivering the best products and services. But in today’s disruptive B2B landscape that’s not enough. Endless Transformation is an interactive video webinar that focuses on three core pillars: Transformation, Technology, and ROI. Watch it here
Future Commerce: Untangled
What is future commerce? The companies that succeed will be the ones that champion change even when the status quo is working well today. They will foster a culture of experimentation and constantly iterate to find what works best and quickly move on from what doesn’t. Read it here
If you’d like to discuss these topics further, SMITH can help.
Whether you’re exploring an evolution in your approach to selling by moving to pure ecommerce or a hybrid approach, looking for an edge in operations optimization with augmented reality, or ready to deploy intelligent replenishment for your customers, we can help.