Seventy percent of online shoppers abandon their carts during checkout (this represents an astounding amount of lost sales!). This from a recent study of more than 1,000 consumers by Splitit, an installment payment solution, and Google Consumer Surveys, which revealed findings that should be directional for retailers struggling with cart abandonment. Retailers should pay close attention to cart abandonment to better capitalize on the surging eCommerce market, expected to see nearly 60% growth in sales by 2022.
Keep an Eye on Generation Z
A recently released study of over 2,500 students from the University of Mississippi and Purdue University, conducted by MNI Targeted Media, reveals insightful nuggets about both the purchasing behaviors and media consumption habits of the post-millennial generation better known as Generation Z. Advertisers should pay close attention to this group, born between 1995 and 2012, that’s currently a quarter of the U.S. population and is expected to account for 40% of all consumers by 2020.
Online Merchants Guild… The Future of Ecommerce Merchant Sales?
Smaller merchants who sell products with Amazon, craving more leverage, are beginning to join the newly founded Online Merchants Guild. As the threat of states levying back taxes on past sales looms, merchants, likely to be easier targets than Amazon, are hoping that a group such as the Online Merchants Guild will give them the lobbying power they need to thwart such legislation.
Subscription Boxes – Large Retailers Are Getting in the Subscription Game
From humble beginnings, the subscription box industry has grown by leaps and bounds. With over 2,000 subscription boxes available, consumers can have apparel, cosmetics, meals, and wine boxes – to name just a few – delivered to their front door monthly, quarterly or at a variety of intervals. Participants can curate their journey with the subscription brand, and their boxes provide unique choice, variety, flexibility, and convenience that traditional shopping cannot.
Social Commerce & The Need for Omnichannel Marketing
A recent Cowen and Company survey of 2,700 millennials uncovered compelling findings about how millennials complete purchases from brands discovered on Facebook, demonstrating that marketers looking to drive direct sales from social media with the millennial market should consider additional media channels.
Top 10 Takeaways from NEMOA’s Spring Summit
NEMOA, the National Etailing and Mailing Organization of America, brought together hundreds of e-commerce and direct marketing professionals from a wide variety of backgrounds for its annual Spring Summit in Boston last week. Media Horizons was pleased attend the conference as a gold sponsor.
A plethora of ideas were shared and discussed by many thought leaders.
Here are our Top 10 Takeaways from the Spring Summit:
Casper Launches a… Magazine?
It’s no secret that magazines and print advertising have been in a state of consolidation.
Jann Wenner just sold a controlling interest in Rolling Stone. Rodale was acquired by Hearst and Time Inc. was purchased by Meredith, with downsizing likely after both transactions close. And some of the best-known magazines around, including Gourmet, Ladies’ Home Journal, and Life have ceased printing altogether or been significantly refocused.
However, there are signs of life.
Millennials Actually Value Direct Mail
Checking my mail one day, I received an oversized postcard from a restaurant called Lena’s Italian Kitchen, offering 20% off my first order. As a New York City resident, I can say that this was the first (and only) solo Direct Mail piece I ever received from a restaurant. As a direct marketer, I applauded their strategy… what a great way to stand out in a very crowded landscape. Just how crowded? According to a recent report from Crain’s New York, crowded to the tune of over 26,000 restaurants across the five boroughs!
5 Marketing Predictions for 2017
With the arrival of 2017, we look back and reflect on some of the defining marketing trends and media habits throughout the past year. While we saw a surge in influencer marketing, a shift in the landscape of streaming video consumption, and proof that consumers’ continue to place their trust in traditional media, one thing’s for sure: the marketing landscape is ever-changing.
But what strategies and tactics will influence marketing in 2017? A number of Media Horizons’ thought leaders share their perspective on what’s in store for brands and marketers in the year ahead.
Subscription Box Industry Presents an Opportunity for Advertisers
Flashback to a decade ago and the term “subscription box” was essentially non-existent. At a time when the majority of retail existed through local brick-and-mortar stores and home delivery from postal-mailed catalogs, the explosion of online shopping has since transformed the industry, giving way to entirely new retail sub-industries, including the rapid emergence of the subscription box industry.