Even in the digital age, direct mail is enjoying an amazing renaissance. You may have noticed this yourself if you have checked your mailbox lately. Legacy brands and upstart direct-to-consumer players alike are using the channel to attract new customers, reactivate lapsed ones, and communicate with existing ones… and usually use a combination of these methods.
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.
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.
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.
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.
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.
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:
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.