E-commerce Seminar Quiz

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Questions and Answers

What is the primary goal of event identification during the seminar?

To create promotional strategies for ecommerce.

To outline key shopping or significant cultural events. (correct)

To analyze customer behavior for ecommerce.

To develop a case study of a successful ecommerce business.

In the e-commerce opportunity analysis, what should groups focus on for each identified event?

Marketing budget distribution.

Historical sales data of similar periods.

Types of products and promotional strategies. (correct)

Customer demographics and preferences.

What is expected in the presentation and sharing stage of the seminar?

Detailed analysis of competitors.

Comprehensive report on ecommerce trends.

Concise presentation of findings within a 3-5 minute timeframe. (correct)

Collection of audience feedback for future seminars.

Which element is NOT part of the deliverables for the event library seminar?

A detailed analysis of sales forecasts. Signup and view all the answers

What does the seminar suggest about using cultural events for ecommerce?

They can provide significant opportunities for marketing. Signup and view all the answers

What was the peak discount rate for electronics during the recent Cyber Monday?

25% Signup and view all the answers

Which percentage of online sales came from mobile devices during Thanksgiving this year?

55% Signup and view all the answers

How much did Buy Now, Pay Later (BNPL) orders rise during Cyber Week?

85% Signup and view all the answers

What was the change in curbside pickup utilization during the recent Black Friday compared to the prior year?

Decreased from 21% to 13% Signup and view all the answers

What was the revenue increase percentage for BNPL during Cyber Week compared to the previous week?

88% Signup and view all the answers

What percentage of online orders used curbside pickup this year on Thanksgiving?

15% Signup and view all the answers

From which year did the discount peak for electronics increase from 8% to 25%?

2021 Signup and view all the answers

What was the percentage of online sales increase from mobile devices in 2022 compared to 2021?

4% Signup and view all the answers

What was the peak discount for electronics during the recent shopping period?

25% Signup and view all the answers

What percentage of online sales during Thanksgiving came from mobile shopping?

55% Signup and view all the answers

Which marketing channel was the largest driver of sales during Cyber Week?

Paid Search Signup and view all the answers

How did the utilization of curbside pickup change from the previous year?

Decreased to 13% Signup and view all the answers

What was the impact on Buy Now, Pay Later (BNPL) orders during Cyber Week?

Increase of 88% Signup and view all the answers

What is the bullwhip effect?

A phenomenon of amplified demand fluctuations within the supply chain Signup and view all the answers

What percentage of total sales during Cyber Week was attributed to social media?

5% Signup and view all the answers

What was the total online sales recorded for Black Friday?

$9 Billion Signup and view all the answers

What is the primary focus of Christmas in July promotions according to the perspective presented?

Encouraging consumer spending Signup and view all the answers

What does the term 'cash-strapped consumers' refer to in the context of Black Friday shopping?

Consumers who are financially constrained Signup and view all the answers

What is indicated by the rise in spending during Black Friday and Cyber Monday?

Increased trend of shopping during holiday sales Signup and view all the answers

Which statement best encapsulates the cultural significance of holiday shopping events like Black Friday?

They serve as a social obligation contributing to culture. Signup and view all the answers

According to the information presented, how did Cyber Monday impact overall spending?

It broke previous records for online shopping. Signup and view all the answers

What aspect of shopping trends does 'seasonality' refer to?

Consumer behavior changes due to seasonal events Signup and view all the answers

What does the term 'Culturally significant events' refer to in the context of e-commerce?

Events that are integrated into consumer lifestyles Signup and view all the answers

What primary factor contributed to the increase in spending during Black Friday according to the content?

Consumer uptake of big discounts Signup and view all the answers

Study Notes

E-Commerce Events

E-commerce events are discussed in the context of a lecture by Radvilas Šeputis in Vilnius, Lithuania in 2023.
The presentation covered topics like when Christmas is, Black Friday shopping, and the psychological phenomenon of the "lipstick effect."
The lecture also examined the bullwhip effect in supply chains, and discount sales promotion strategies.

When Is Christmas?

Businesses are celebrating Christmas in July with sales and activities, marketing it as a time to spend more money.
This practice is seen as commercialism rather than a celebration of the birth of Jesus Christ.

Black Friday Shoppers

Around 166 million people are expected to shop over the Thanksgiving weekend, which is more than 8 million compared to the previous year.
Shoppers are mindful of inflation when planning purchases.

Lipstick Effect

This is a psychological phenomenon where people treat themselves to small luxury items, even if they are cash-strapped.
Items purchased due to the effect may include beauty services, makeup/skincare, fast fashion, gourmet food, home decor, and home services.
Gen Z and Millennials are more likely to engage in this method during uncertain financial times compared to older generations.

Bullwhip Effect

The bullwhip effect is a supply chain phenomenon.
Small fluctuations in demand at the retail level can cause progressively larger fluctuations at the wholesale, distributor, and manufacturer levels.
The phenomenon is named after the physics of cracking a whip.

Discount Sales Promotion

Cyber Monday in 2022 generated a total of $11.3 billion in online spending, a record-breaking amount.
Consumer spending was also high during Black Friday (up 2.3% YoY) and Thanksgiving (up 2.9% YoY).
Discounts in electronics were particularly high, peaking at 25% off listed price compared to 8% in 2021.
Mobile shopping also saw record highs, with 55% of online sales coming through smartphones in 2022 (up 4% from 2021).
Buy now, pay later (BNPL) options saw significant increases in usage during Cyber Week.

Additional Insights

Curbside pickup was used less this year compared to the previous year.
Paid search was the most significant driver of sales across major marketing channels.
Social media marketing remained a smaller contributor relative to other channels but saw a growth in year-over-year sales.
Black Friday was a record-breaking day in online sales, raking in $9 billion alone.

Seminar Outline

Students will identify key shopping or significant cultural events during assigned months.
Analyze potential e-commerce opportunities connected to specific events.
Students will create a case example of existing e-commerce successes during specific events.
Presentation findings are geared to concise 3-5 minute presentations.
Deliverable is a Google Slides presentation about the event, e-commerce opportunities and a case example.

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Description

Test your knowledge on the key concepts discussed in the e-commerce seminar, including event identification, mobile sales statistics, and shopping trends during major sales events. This quiz covers essential data and insights relevant to online retail and buyer behaviors.