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- 🌀WooCommerce wants to double web share. Is it possible?
🌀WooCommerce wants to double web share. Is it possible?
Plus: Amazon Prime Day is one of the biggest e-commerce days. How did Amazon achieve that?
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Happy Sunday! Welcome to the MarketMaze newsletter, where we bring you the latest news, statistics, and analysis from the E-commerce & Marketplace space so you can stay ahead of the curve. Each week, we'll send you an email covering all the information you need, and it will take just a few minutes to read.
Today's write-up is 1,740 words, a 6-minute read.
This week’s highlights:
1. đź“°News: WooCommerce wants to double its web share. Is it possible?
2. đź“ŠStat: Amazon Prime Day is one of the biggest e-commerce days. How did Amazon achieve that?
3. đź“–Headlines: Amazon, Allegro, Wish, Walmart, Farfetch, Zalando, Vinted, Asos, Uber Eats, DoorDash, Grab, Deliveroo, Glovo, Pinterest and more!
4. 🌟Spotlight: Weding, eSIM, Social art Marketplace
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1. đź“° News of the week
WooCommerce wants to double its web share. Is it possible?
In a recent interview with Search Engine Journal, WooCommerce CEO Paul Maiorana revealed upcoming improvements focused on performance, payments, product management, and site design. The company aims to power up to 15% of all websites globally (vs. current 8.8%)
WooCommerce's
CEO outlined the growth strategy for the leading e-commerce platform. Key growth drivers are:
Enabling further growth of WordPress due to stronger integration with WooCommerce (WordPress powers 43.2% of sites on the internet so there is some room for growth)
Leveraging existing WordPress platform for the rapid growth of WooCommerce (Only 20% of WordPress sites have WooCommerce)
Launching a streamlined and unified solution similar to Shopify (the company soft-launched Woo Express, a new managed hosting product that uses WordPress.com’s infrastructure and relieves store owners of the responsibilities of hosting and maintenance)
Continue to provide simplicity (e.g. WooCommerce to introduce code-less design based on Gutenberg from WordPress) and flexibility
Future developments to boost performance and scalability and improve user experience (new checkout interfaces,
More features for store owners (new product editing interface, dedicated integrations with external parties, e.g. Tiktok)
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The new areas of focus are enterprises and… AI (WooCommerce recently revealed some AI features to assist in product editing; e.
g., generating product titles, descriptions, and SEO content)
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Image Credits: Wordpress
đź““Comments:
WooCommerce has ambitious plans for the future. It is yet to be seen if open platform can win against coherent solutions like Shopify or established marketplaces
2. đź“Š Stat of the week
Amazon Prime Day is one of the biggest e-commerce days. How did Amazon achieve that?
Launched in 2015, Amazon Prime Day has become a significant annual shopping event globally. BAV@WPP, in partnership with VMLY&R Commerce leaders, analyzed this year's Prime Day and gathered valuable insights for brands preparing for the holiday shopping season and beyond.
Key observations for brands from VMLY&R are as follows:
Affordability Matters: With shoppers facing financial pressure, genuine deals were crucial to compete with private label offerings. The event featured various deal formats (e.g. 'wow' deals, lightning offers, new deals every 30 minutes, and 'invite only' specials)
Emphasis on Engagement: Amazon focused on engaging shoppers through platforms like Amazon Inspire, similar to TikTok, providing in-app videos of influencers showcasing products and facilitating direct purchase links. TikTok itself was widely used during the event.
Hyper-Personalization: While maintaining its mass appeal, Amazon Prime Day adopted a hyper-personalized approach. Deal tiles were tailored based on individual purchase habits and behavior, moving away from generic offers.
New Partnerships: In addition to product and price deals, Amazon Prime Day ventured into new territory by partnering with travel company Priceline. Shoppers had the opportunity to access discounts on hotel bookings, resulting in increased revenue and bottom-line profit for Amazon.
3. đź“– Headlines of the week
đź›’ Mass merchant marketplaces
🇺🇸 Amazon virtual care marketplace expands across the US. Launched in November 2022 to treat common health conditions such as pink eye and urinary tract infections. With Amazon Clinic, users can compare the response times and rates of different healthcare providers, complete a questionnaire, and connect with their chosen provider without an appointment or insurance. Deep dive → Investopedia
🇺🇸 Amazon’s Buy with Prime boosts merchants’ conversion by 25%. At launch, Buy with Prime allowed select Amazon merchants to sell their listed merchandise directly from their own websites. The new perk makes Amazon’s payments and fulfillment services available at checkout, giving shoppers the option to use their Amazon Prime membership. Deep dive → Pymnts
🇧🇷 Amazon set to launch a credit card in Brazil with Bradesco. Amazon also has a credit card offering in the U.S., where it partners with JPMorgan Chase. Deep dive → Reuters
🇵🇱 Allegro updated the best price guarantee feature. Allegro at least daily compares marketplace practices with other e-commerce stores, and if the price is the best, then Allegro highlights the price as green. If customers find a better price 72 hours after purchase, Allegro gives back 150% of the difference as an Allegro coupon. Deep dive → Android pl
Wish plans to lay off 255 employees by the end of the year. The move affects about 160 of Wish’s U.S. employees, or about 41% of its domestic workforce, and about 95 non-U.S. employees, about 26% of its international workforce. Deep dive → RetailDrive
Walmart Marketplace sellers can apply to sell in-store. Deep dive → EcommerceBytes
đź‘— Fashion marketplaces
🌎 Farfetch named a new CFO, Tim Stone. Tim joins next month with 20+ years of experience from Amazon and Ford Motor. Deep dive → Fibre2fashion
🇪🇺 Zalando reported an 87% increase YoY in adjusted EBIT in Q2 and for FY2023 now expects €300–350M (vs. €185M in 2022). GMV share of 3rd parties using the Zalando fulfillment service rose 7% vs. the last year. Deep dive → Zalando
🇬🇧 Vinted expands its partnership with InPost with in-shop parcel collection. InPost Shop service gives Vinted members in the UK the option of collecting parcels from participating stores, providing an additional out-of-home collection option alongside InPost’s 5,000-strong locker network. Deep dive → TalkingRetail
🇬🇧 Asos partnered with Rokt to deliver targeted external post-purchase promotions. AI and Machine learning tech from RokT will enable ASOS to unlock first-party data and create personalized customer experiences, highly relevant to individual customers. Deep dive → WWD
🇫🇷 La Redoute B2B segment has experienced high growth recently. The key driver for growth is the hotel segment, which, e.g. in Portugal corresponds to 40% of La Redoute business. Deep dive → Economia ao minuto
🍔 Food marketplaces
🌎 Uber Eats has partnered with the San Francisco Giants to provide in-seat delivery at Oracle Park. It is the second venue after Yankee Stadium from Major League Baseball team. In addition to stadiums, Uber Eats offers mobile ordering for pickup at 7 US stadiums and 5 international venues. Deep dive → RestaurantDive
🇺🇸 DoorDash lifts its core profit target for the second time on higher orders. The delivery firm posted its highest revenue since its IPO in Dec. 2020 as people stick to the pandemic trend of buying from their homes, thanks to promotions, deals, and free deliveries with subscription passes by DoorDash and its rivals. Deep dive → Reuters
🇺🇸 DoorDash dives into Brick-and-Mortar by opening its first food hall. The new food hall for 10 local restaurants will be able to accommodate deliveries, food pick-ups, and in-restaurant dining. Deep dive → SiliconVallay
🇸🇬 Grab expands into dine-in services as explosive growth stalls. Grab is testing its dine-in feature across 15 cities in Singapore, Thailand, and Indonesia, allowing users to pre-purchase dine-in vouchers at up to 50% discounts. App users can also view restaurants’ menus and reviews, order and pay via a QR-based system, and book rides to restaurants. Deep dive → CNBC
🇸🇬 Deliveroo partnered with Gojek to gain an edge in food delivery. Companies signed a long-term partnership agreement to collaboratively enhance experiences across both platforms. Companies will introduce extensive new benefits and drive cross-platform savings for both Deliveroo and Gojek users. Deep dive → Marketing Interactive
🇪🇸 Glovo could be prosecuted in Spain for criminal proceedings for false self-employment. Through El PaĂs, the Secretary of State for Labor, PĂ©rez Rey, threatens Glovo with jail terms for, he says, failing to comply with the rider law. Deep dive → libremercado | ara
📦Various marketplaces
🌎 Rakuten partners with OpenAI to explore commercial opportunities together and to collaborate on the use of OpenAI apps in Rakuten products and services. Deep dive → Reuters
🌎 Booking.com partnered with BeCause to automate the properties’ sustainability credentials. Enterprise software will automate the management of information about properties’ sustainability certifications and features. Deep dive → Sustainablebrands
🌎 Pinterest revenue beats estimates on shopping push. Sales increased 6% to $708M in H1, exceeding the $699M forecast. Pinterest is pushing for shoppable content, similar to other social media platforms. Deep dive → DigitalCommerce360
🌎 Trivago weak 2Q results due to opting out from Google's new Ad unit. Trivago decided not to advertise in Google’s new property promotion ads because they are part of Google hotel ads, which didn’t perform well for Trivago. Deep dive → Skift
🇬🇧 Etsy is scrambling to avert a widespread sellers' strike. UK vendors started boycotting the platform over its payment reserve system. Deep dive → Quartz
🇺🇸 Wayfair new app, Decorify, uses generative AI to let users create photo-realistic room images for design purposes. Deep dive → TechCrunch
🌟Funding/new marketplaces
Minted launches a wedding marketplace. Minted launched in 2007 as a premium design marketplace based on independent artists from all around the world. The wedding marketplace will follow the same model. Deep dive → RetailDive
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Image Credits: Minted
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Image Credits: airalo
Cohart raised $4M for the social art marketplace. Cohart marketplace allows one to discover, buy, sell, and engage with art. Deep dive → TechCrunch
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Image Credits: Cohart
Free resources:
- Top10 reports on marketplaces
- Top150 European marketplaces (soon!)
- Top events from marketplace and ecommerce space (soon!)
That’s all. See you next week!
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Author
Artur Stańczuk is a Chief Strategy Officer at Packhelp, the leading European packaging marketplace. Previously worked ~8 years at Bain & Co. In the past, Digital Transformation Director at the leading Polish convenience chain Żabka and Entrepreneur that co-launched 3 start-ups
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