Top eCommerce news from the week
The European Commission proposes new eCommerce rules to boost cross-border sales
Following their investigation into geoblocking, The European Commission announced it’s plan to boost cross-border ecommerce within the region. The results showed that 38% of retailers, and 68% of digital content providers operate geo-blocking within the EU. The ‘3 pronged’ plan will tackle geoblocking, make cross-border parcel delivery more affordable and increase consumer confidence through better protection. The new rules do not put a cap on delivery prices, but the Commission says it will review again in 2019 and revise the rules if necessary.
Are Mobile Apps losing the loyalty war?
eMarketer published new research from AppBoy this week. The research looked at App engagement, and found that only 24% of mobile app users will return to an app the day after they’ve downloaded it. And, as time passes, retention declines – with only 4% returning after 90 days of download. Other research from Apsalar looked at uninstall rates. Their research found that travel apps have the lowest retention rate – with 31% uninstalling within 4 weeks of download. Shopping faired slightly better – with 28%.
Get ready for the Holiday Season
It may only be June, but retailers are already gearing up for the busiest period of the year. New research, published by Bizarre Insights looks at what motivates shoppers during the Holiday season & offers advice based on the results. The research found that free shipping and discounts are a big draw. 60% of responders said they’re more likely to buy online if there is free shipping. But, the research also highlighted the importance of delivering goods on time – with a 35% drop in overall customer satisfaction and 31% drop in the likelihood to recommend a brand if the delivery is late.
The Next Generation of Payments Wearables
This week, Visa announced it’s bringing it’s NFC-enabled Payment Ring to the Rio Olympics. The ring will be used by all Team Visa athletes during the games, enabling them to make purchases, with only their ring, at any NFC-capable terminal. As exclusive payment provider for the Olympic Games, Visa will implement approximately 4,000 NFC-enabled POS terminals across key venues. The terminals will accept mobile and wearable payments. But Visa haven’t finished innovating yet – it’s also demonstrated an advanced prototype of the ring, which uses token technology.
Don’t frustrate customers – deliver ‘omni-channel’ retailing
- The growth of social media – in the US, there’s been a 50% decline in mall visits over the past 4 years, which is mainly down to increased use of social.
- Showrooming and webrooming – many bricks-and-mortar stores have become showrooms for online retailers, but we’re seeing an increased trend in webrooming: researching online & buying in-store.
- The threat of pure-plays – many are embracing ‘experiential shopping’ in order to grow their business.