Nearly three-quarters (72%) of retail marketers worldwide intend to boost their advertising expenditure on social channels, according to a November 2023 survey by TechValidate and cited by Mediaocean.
According to an EMarketer forecast, the retail industry will spend $88.13 billion on digital advertising this year, of which approximately 29% ($25.51 billion) will be spent on social media networks.
IZEA found in a March 2024 survey that two-thirds of social media users in the United States are at least somewhat likely to conduct product research via social media before making a purchase.
According to Earnest Analytics data from February 2024, 97% of TikTok users in the United States shopped at Amazon in the previous year.
Amazon Prime has much more US users than TikTok, with 181.4 million versus 107.8 million, according to an EMarketer forecast.
Amazon also has an advantage in US ad revenues, which are expected to be $41.95 billion this year vs $10.42 billion for TikTok.
“But TikTok is growing faster than Amazon in both regards and could take away some of Amazon’s retail share—if it doesn’t get banned before that can happen,” according to EMarketer.
OpenAI could launch its artificial intelligence-powered search tool on Monday, upping the stakes in its fight with search giant Google, two sources familiar with the situation told Reuters.
The announcement date, subject to change, has not been publicized before. According to Bloomberg and the Information, Microsoft-backed OpenAI is developing a search engine that might compete with Alphabet’s Google and Perplexity, a well-funded artificial intelligence search startup.
After Reuters published the report on Thursday, OpenAI posted Friday on X that the company would livestream an event on Monday that showcases some ChatGPT updates.
CEO Sam Altman posted on X, “not gpt-5, not a search engine, but we’ve been hard at work on some new stuff we think people will love! feels like magic to me.”
Talks about buying marketing software provider HubSpot have advanced, according to people familiar with the situation at Google parent Alphabet.
Bloomberg reported that Alphabet has discussed the details of a potential partnership with HubSpot, according to the people who asked not to be identified because the information is confidential.
HubSpot shares have increased by around 32% in the last year, giving the business an estimated value of $30 billion. The stock spiked 6% in pre-market US trading on Thursday.
The sources stated that deliberations are still underway, and no agreement has been reached. According to the report, there is no certainty that the corporations will proceed with a deal, and another suitor may emerge.
Purchasing HubSpot, a customer relationship management (CRM) company focusing on small businesses, would fill a void that may help Alphabet compete with major market leaders such as Microsoft, Oracle, and Salesforce.
4 Tricks To Increase Your Online Store Sales On Father's Day 2024
Father’s Day is a huge holiday in the USA and other parts of the world and you can expect sales to pick up the most during the months of May and June.
If you’re already making sales and scaling up simply by increasing the advertising budget, then you’re missing on some easy and free sales that can be achieved with a few tricks.
And if you’re selling but the profit isn’t what you expected, then the tricks I’m about to share with you in this article might turn this holiday into a profitable one.
So go and grab a quick snack and read the whole article to make sure that you’re making the most out of this holiday!
Let us imagine a person, a woman to be exact, and she’s happily married with 2 small kids. Her name is Pamela and she is looking for a Father’s Day gift for her husband.
Now Pamela also has a Father that she loves and a lovely Grandpa that she visits once every 2 weeks.
Luckily for us, Pamela just saw our Father’s Day Dropshipping ad on Facebook and absolutely loved the product. She thinks this product is the perfect Father’s Day gift and she’s ready to make a purchase.
But for some strange reason, there aren’t any quantity discounts present so she just orders a single product for her husband because ordering 3 products is too expensive for her.
She will think of something else to buy for her Father and Grandfather.
But what if we had a quantity discount on our store? One that gives a 25% discount on 3 items? There’s a good chance Pamela would be tempted to purchase 3 items and get done with the Father’s Day gift search.
This is just a quick example of what A LOT of online sellers miss out on… Some extra sales and profit is missed just because there are no quantity discounts present.
So if you’re selling on Father’s Day then make sure to have quantity discounts active because this is one of the rare holidays where one gift can be bought multiple times and get you some crazy profit!
2. Sell Gift Sets
Instead of selling a single item for Father’s Day like a watch or some leather wallet, try looking for gift sets or create your own with the items you already have on your store.
The picture above is a good example of such gift set and this one and more can be found on Aliexpress. These sets aren’t expensive, the pictures are high quality so you can launch some really good looking ads, and the quality is great(based on the reviews).
And it already comes in a gift box so it can be delivered as is to the recipient.
And if you think that men wouldn’t want this gift set as a Father’s Day gift, then don’t worry because it isn’t going to be bought by them.
For this product the women are the clients and they fall HARD for these simple(yet good looking) gift sets and you can easily get sales because it looks and feels high value.
What’s even better is that you can sell a couple of gift sets with quantity discounts and make a bigger profit + run simple photo ads and blow up on social media because the pictures are of superb quality.
3. Target Only Men
Father’s Day is where men are celebrated and finally get some love for all the work they do, so logically you should be targeting women first and offer the product you’re selling as a potential Father’s Day gift.
But some people tend to forget that this holiday is also a great time for men to buy something for themselves, like a small “attaboy” gift for all the hard work.
So you can potentially leave women alone in your campaigns and only target men with some awesome Father’s Day discounts. With the right product and a good discount, you can catch all the Fathers that don’t really get that much on Father’s Day…
Also, let’s not forget that men have fathers as well (duh), so if not buying for themselves, then for their fathers.
4. Add Reviews
You either import reviews from platforms like Aliexpress or Amazon and showcase them directly on your product page, or collect them using emails and other methods…
Because a good review section can boost your conversion rate significantly and get you much more sales and profit without the need to increase your advertising budget.
(Google for impact of reviews on ecommerce stores sales and you’ll find plenty of articles that will show you just how impactful these review sections really are)
Make sure your review section is clean, has at least a dozen of photo reviews, and that the best reviews are pinned to the top to maximize the review section impact on your online store.
If you’re importing reviews from Aliexpress, then check for spelling and “fix” the texts a bit because it is usually auto-translated and the English can be a bit weird sometimes.
With the review section active on your product page, you increase your online store’s trust and customers won’t hesitate to place an order from you.
To Sum It Up
If you’re struggling with making sales or increasing your profit during Father’s Day, then make sure to implement and try these tricks and see how it helps you to get more sales.
Don’t sit idly and get one sale at a time without doing anything to squeeze the maximum out of your customers…
These tricks are proven to work so get to it and start making more sales!
Happy Selling!
Struggling to find good products to sell? Not sure who’s your target audience? Tired of losing money on products you were sure were “winners”?
Then Ecomhunt is what you need! Find hot winning products that are added daily, spy on their ads & stores and import them into your store in 1 click and Start Selling Today!
According to the International Association of Privacy Professionals, 16 states in the United States have implemented broad consumer privacy legislation as of April 2024.
EMarketer reported that five of these state laws are now in effect, and more are scheduled to go into effect later.
The American Privacy Rights Act, a federal privacy policy, is being debated, but advertisers should not wait too long to act on privacy, as strict state rules are already looming.
According to Pew Research Center data from October 2023, the majority of American adults are concerned about artificial intelligence’s data privacy implications.
The only payment method whose share of global point-of-sale transaction value will increase from 2023 to 2027 is digital wallets, which will account for 46% of total value by the end of that period, according to a report published by Worldpay in March 2024.
“Over half (56.9%) of the US population will use digital wallets this year, totaling 161.6 million users,” per a forecast by EMarketer.
Apple Wallet is the most popular digital wallet, accounting for almost half (49.0%) of all mobile wallet users in the United States. It is followed by Google Wallet (30.1%) and Samsung Wallet (12.9%).
According to a November 2023 survey conducted by PYMNTS and AWS, consumers who use digital wallets spend 31% more than those who do not.
Changes to its content recommendation system, particularly on Reels, its short-form video service, will favor original content and “give all creators an equal chance of breaking through.”
The BBC reported that experts see the Meta-owned site attempting to replicate what has fuelled TikTok’s success as it faces a probable ban in the United States.
Meta is not the only social media company altering its product in response to TikTok’s troubles. Twitch, a popular live-streaming network owned by Amazon, recently launched its own short video feed in the TikTok style for all users.
Short-form video took center stage at the internet and social media companies’ annual presentations to advertisers, as platforms such as Snap and Meta seek to capitalize on TikTok’s political uncertainties in the United States to seize ad dollars from its competitor, reported Reuters.
The NewFronts presentations in New York come only a week after US President Joe Biden approved legislation giving Chinese company ByteDance up to a year to divest TikTok or face national security bans. TikTok has pledged to oppose the legislation.
Meta, the owner of Facebook and Instagram, centered its NewFront on Reels, a TikTok competitor that accounts for half of all Instagram time spent.
“Instagram Reels already stands to benefit from a TikTok ban, and Meta wants to ensure that it can attract all the potential displaced users and revenues it can,” Emarketer principal analyst Jasmine Enberg said, according to the report.
