US Ecommerce & Retail Highlights – October 2018

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US Ecommerce & Retail Highlights – October 2018

Every month B.D.C. unveils Retail essential information. Latest trends and innovations, key players, startups, market figures… Do not miss the latest retail news, check them out in 60 seconds only.

 

US MARKET HIGHLIGHTS

Each month, the U.S. Census Bureau surveys 4,900 firms to collect retail sales data. This month, it recorded that year-over-year U.S. retail sales rose 4.7% in September 2018. Online contributed 11.4% of total retail sales – that is double its market share in 2005.

 

The U.S. Commerce Department reports a 300% growth of online retail between 2000 and 2018. During the same time period, department store sales have dropped almost 50%.

 

Finally, according to IHL Group’s recent Report, “Retail’s Radical Transformation,” data shows that for every retailer closing stores, 2 are opening stores. The food, drug, convenience and mass merchants/warehouse category has even reported 3.7 companies adding stores for every one closing.

 

KEY PLAYERS

Wayfair launches a membership-based loyalty program. Priced $29.99 per year and entitled “MyWay”, this program works for Wayfair shoppers in the U.S. accross all of its brands, including Joss & Main, AllModern, and Birch Lane. The program includes perks as free shipping on everything (when non-members have to spend at least $49 to meet the free shipping minimum), free next-day shipping on thousands of items, 25% off in-home services (ie. assembly, installation, upgraded delivery option), and exclusive access to insider sales and promotions.

 

Walmart filed a patent for a smart shopping cart that can track a shopper’s heart rate, body temperature, grip and walking speed. It would provide the company with a wide range of information regarding of shoppers are physically responding to different stores. The patent precises the data would be transmitted to a server and used to alert staff when shoppers might need help or medical assistance. Walmart ensures it would not collect any personal identifiable data nor store any user data.

Target is focusing on better ways to address Gen Z customers. Following its first Target+Techstars accelerator in the U.S., Target announced the launch of a new program, Target Incubator, which aims to foster business concepts from Gen Z entrepreneurs and creators. It is also a way for the grocery chain to better understand how to market and sell to this group of customers. The company also announced a new marketing strategy to reach them “@TargetTag,” a digital magazine-like space on Instagram to connect, create and inspire each other. Started with 30 creative young people, the campaign features artists among user-generated content.

 

BLACK FRIDAY

This year, Black Friday will happen November, 20th. Predictions expect this ecommerce celebration to edge Cyber Monday, with holiday shoppers spending an average of $57 more on Black Friday. The expected average spending for Black Friday ($472) beats Cyber Monday ($415) this year.

According to a survey from deals site BlackFriday.com, 68% of these shoppers will mostly go their shopping online. Nearly a third (31%) will do most of their shopping on Black Friday, versus 22% on Cyber Monday. Shoppers (29%) expect the best deals on both shopping days to be on Amazon, followed by Walmart (25%), Target (15%) and Best Buy (14%).

 

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