Meta Platforms said on Wednesday that it has begun rolling out generative artificial intelligence (AI) technologies that can generate content such as image backgrounds and variations of written text for all marketers.
The company began testing these capabilities in May, allowing access to a restricted group of advertisers in a “testing playground,” reported Reuters.
The tools will be available in Meta’s Ads Manager, and their distribution will be completed next year.
The company said last week that businesses will soon be able to use AI for business messaging on Messenger and WhatsApp to communicate with customers.
Something exciting is happening right now on Shopify and it’s the much awaited arrival of the one-page checkout instead of the regular low conversion 3-page checkout.
Earlier this year, Shopify announced that the one-page checkout is finally coming out but not everyone could see it because it was only available to certain merchants as an early access.
But now, from what we hear from our users and by receiving it ourselves, it looks like it’s finally here and it’s coming to everyone.
If you’ve received this email from Shopify:
Then praise the Gods because this year’s Q4 is going to be the craziest you have ever seen!
So keep on reading because in this week’s article, I’m going to cover all the new stuff the one-page checkout is bringing and the must-have optimizations needed to be done for you to maximize this year’s sales.
“It’s just a checkout, so what?” Well, it’s indeed just a checkout but your conversion rate is going to be much higher which means you’ll be making much more sales from the same traffic you get.
If you’ve been following our online courses and explanation videos & articles, you probably noticed one thing that we almost always mention when reviewing online stores or just showing how to build such from scratch.
And it’s reducing the amount of steps your customer has to make before reaching to the checkout.
What most beginners and even intermediate sellers fail to understand is that each extra step you have in your general online store flow is reducing your conversion rate.
Stuff like choosing a product color from 10 different options while 3 options were enough, or having to click on the Go To Cart button again when the product was already added into the cart.
Each extra step is prolonging the checkout process and leaves an opening for your customers to simply exit your store without buying a thing.
Though in the cases above you have the option to fix that by reducing the amount of variants and simply transferring your customers straight to the cart page when the Add to Cart button is clicked.
But the whole checkout flow, Shopify’s 3-page default checkout, was locked and we as sellers couldn’t change it and reduce the amount of steps our customers had to take in order to reach the payment stage.
It was only available to Shopify+ subscription which is insanely expensive and not suitable for most sellers, or you had to use an external Shopify app that required a lot of tweaks to be activated + there were extra charges(both monthly subscription + extra commission on each of your sales).
But now the wait is finally over and and it looks like Shopify has unlocked the one-page checkout for everyone. Now you can enjoy a much higher conversion rate and convert a bigger chunk of your traffic into actual sales.
And by higher, I mean a lot higher! The average ecommerce conversion rate, as of May 2023, is 2.02% – Which means that from 1,000 visitors to your store, about 20 are going to be converted into paying customers.
But now with the one-product page, you can see a big increase in your conversion rate and easily get a conversion rate above 3% or even 4%.
We’ve personally ran one-product stores using a one-page checkout that reached an average conversion rate that was higher than 5% which is insane.
This should be enough to help you understand that this one-page checkout revolution is a HUGE change and it will skyrocket your sales this Q4.
What Should You Do Now?
First of all, you should check your Shopify store to see if the one-page checkout is active on it. If you’ve received an email like the one you see below, then the one-page checkout is now active on your store and all your customers will see it by default.
If you have yet to receive such email, then don’t worry because this doesn’t mean you don’t have this new checkout available for you.
Simply go to your Shopify store’s Settings tab, click on Checkout and check if there’s a small announcement banner that says you now have access to Shopify’s one-page checkout.
Once you see this banner, simply follow the instructions and activate it on your online store. For more details about Shopify’s one-page checkout, visit the One-Page Checkout Help Center.
And if that doesn’t help and you still don’t have access to the one-page checkout, then don’t worry too much because it’s probably on its way to you. It’s just a matter of time until everyone gets access to this amazing checkout ?
One-Page Checkout Optimizations
Your job doesn’t end with the activation of the new one-page checkout, and there’s a few more tweaks to be done to maximize your conversion rate.
Make sure the logo of your store is also displayed on the new checkout page. Even if was displayed before, double check everything to see it it exists on the new checkout and if it sits well in there(both mobile & desktop view). Remember that your store’s logo doesn’t automatically appear on the checkout page – You have to upload your logo for the second time on the checkout settings section of your theme.
Add a few trust badges next to your store’s logo on the checkout page to increase trust. In the screenshot above, you can see an example of such trust badges next to a store’s logo. It’s quite simple to do and all you have to do is open your logo on Photoshop(or any other image editing software) and add the trust badges next to your logo. This should further increase your online store’s trust and your customers will have more confidence when placing an order with you.
If you only accept PayPal then make sure to change the default “All transactions are secured and encrypted” text and add to it that you can pay on PayPal using a credit card as a guest. This is a very important message as some customers think that you need an account in order to pay with PayPal. To change the texts on the Checkout page, simply go to your Theme language settings and looks for the phrase you would like to change.
And that’s basically it for optimizing your one-page checkout on Shopify… A 10-minute work which will lead to an even higher conversion rate and more sales!
To Sum It Up
The one-page checkout introduction is a big day for every Shopify merchant out there and the timing of this update couldn’t be better!
You can think of it as a free feature that is going to increase your online store’s conversion rate no matter what you do, so you can definitely expect a spike in your store’s performance.
Let me know what you think about this new update and share your new sales numbers in the comments below.
Happy Selling!
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Users in Europe would have the choice to accept personalized ads or pay a fee, according to the company’s pitch to regulators, reported The Wall Street Journal on Tuesday.
Meta plans to charge EU users a $14 monthly subscription fee to access Instagram on their phones unless they consent to the corporation using their personal information for targeted advertising.
According to two knowledgeable sources, the plans will be implemented in the coming weeks. Meta would also charge $17 for Facebook and Instagram combined for use on a desktop.
This trend is growing for social media companies looking to charge for extra features.
Facebook and Instagram have more US users than TikTok, with 177.9 million and 135.2 million, respectively, compared to TikTok’s 102.3 million.
However, according to estimates by Insider Intelligence/eMarketer, TikTok has more US Gen Z users (45.8 million) than Facebook (30.9 million) or Instagram (45.5 million).
According to the data, US individuals spend 7.6% of their typical time with digital media on Meta platforms, but marketers spend 19.5% of their digital ad dollars on Meta. This high ad dollar-to-time spent ratio is not found on YouTube, TikTok, or Snapchat.
As younger people gravitate toward TikTok, advertisers remain at ease on Facebook and Instagram. This could allow advertisers to experiment with TikTok and YouTube more. However, it also implies that Meta is doing something right regarding user data, ad placements, usability, and tracking.
The US Federal Trade Commission and 17 state attorneys general have filed an antitrust case against Amazon for what they claim monopolistic pricing to customers and fees to e-retailers’ third-party vendors.
Amazon claims that its pricing techniques and tactics aid in creating competition for its merchants both on and off the platform and that restructuring the retail giant’s business models will result in higher prices and slower and less dependable shipping speeds reported Reuters.
Here is a list provided by Reuters of online marketplaces launched since the investigation of Amazon began in 2019.
Merchants who sell on Amazon want the online retailer to reduce fees, and some are concerned that the US Federal Trade Commission’s case launched on Tuesday could affect its advertising business, limiting their ability to reach potential customers.
According to Reuters, the FTC’s long-awaited antitrust case asks a judge to consider ordering the online retailer to divest assets, accusing Big Tech of monopolizing the most profitable sections of the internet.
More than 9 million merchants sell their items on Amazon’s marketplace and provide it with consistent cash streams. Amazon charges advertising fees for promoting their products, fulfillment costs for delivery, and “sellers’ fees.”
Now, the FTC and 17 state attorneys general are urging Amazon to eliminate costs they claim drive retailers to rely on Amazon, such as the company’s pricey advertising fee, noted the report.
Shopify is investing in wholesale platform Faire in a global arrangement that would see the start-up use Shopify technology for its clients, the firms announced on Wednesday.
Reuters reported that Faire, founded in 2017 and valued at $12.59 billion, would become Shopify merchants’ preferred wholesale marketplace. The firms declined to disclose the deal’s value or the size of Shopify’s ownership.
According to Aneeqa Khan, director of product at Shopify, the partnership will make it simple for Shopify merchants to locate wholesale customers and allow retailers to source from Faire’s network of brands.
Small shops are trying to diversify from the competition. Fair said the most popular search filter on its platform is “Not on Amazon,” according to the report.
The Latin American region presently has 300 million digital consumers, with a 20% increase expected by 2027, according to a recent PayU GPO report.
The rapid expansion emphasizes the region’s role as a crucial market, fueled by increased internet access and a developing economy.
According to a report by The Paypers, between 2019 and 2022, the number of Latin American shoppers utilizing PayU to conduct e-commerce payments more than doubled, going from 15.3 million to 29.3 million. Furthermore, the figure is predicted to rise in the coming months, reaching a projected 33.9 million by 2024.
Latin America’s booming regions, including Argentina, Brazil, Chile, Colombia, Mexico, and Peru, are predicted to enjoy a 25% increase in e-commerce market volume, bolstering the region’s position.
Despite inflation, the survey indicated that Brazil and Mexico are poised to dominate the Latin American e-commerce sector, with compound annual growth rates of 77.2% and 68.2%, respectively, by 2027.
Retail media is poised for growth, with Insider Intelligence/eMarketer forecasting an annual spending increase of more than 19% through 2027.
According to the graph, retail digital ad spending will continue growing over the coming years, making up nearly 27% of the total digital ad spending market by 2027.
In 2021, retail online ad spending was only 14% of the overall digital ad market, and by 2023 is set to reach over 17%.
This trend demonstrates that e-commerce will increase in importance from where it is today.
