Top 3 eCommerce Reads for November 2021
Don’t want to spend hours poring over the latest news in D2C eCommerce? Here’s 3 articles we think are worth reading this month.
This is a fascinating article about the shift in the eComm space from product drops to more consistent customer engagement. From the article: “As a strategy, drips mean shifting budgets and actions from seasonal campaigns and product releases to investing in the continuous interactions with customers, across all touchpoints. In this scenario, FOMO and excitement are not given, but earned.” This very much fits in line with what we’re seeing with businesses leveraging paid memberships for their loyalty programs in order to drive the feeling that customers are a part of an exclusive club.
Metaverse Real Estate Piles Up Record Sales in Sandbox and Other Virtual Realms
While not completely eCommerce-related, blockchain is shaking up the technological landscape, with companies throwing spaghetti at the wall to see what new uses the tech is good for. The latest incarnation is digital real estate within virtual worlds. The Wall Street Journal article claims that “[I]nterest reached a new peak on Tuesday when Republic Realm, a firm that develops real estate in the metaverse, said it paid $4.3 million for land in the world Sandbox, the biggest virtual real-estate sale publicized to date”. Whether you believe NFTs are a long term investment or not, the fact that so much money is trading hands makes them worth paying attention to!
We hope you all had productive BFCM sales - you certainly did in aggregate, according to Shopify’s recently released numbers. “Shopify announced a record-setting Black Friday / Cyber Monday weekend with sales of $6.3* billion globally”. The article has some interesting stats that might be useful as you perform a post-mortem on the weekend and decide which strategies worked or didn’t so you can adjust next year.
Whether you’re looking to start a free or a paid loyalty program, we’ve got you covered. Check out Conjured Referrals and Conjured Memberships in the Shopify app store now!