ISM E-commerce Events 2023 Autumn Semester PDF

PART 3 PART 10 E-commerce events Lecturer Radvilas Šeputis 2023 Autumn Semester TODAY'S SUBTOPIC When Is Christmas? WGN News Wheaton business celebrating Christmas in July with sales and activities “Summer in my opinion is the best time of year for fairs, waterparks, amu...

PART 3 PART 10 E-commerce events Lecturer Radvilas Šeputis 2023 Autumn Semester TODAY'S SUBTOPIC When Is Christmas? WGN News Wheaton business celebrating Christmas in July with sales and activities “Summer in my opinion is the best time of year for fairs, waterparks, amusement parks, picnics, and in general for everything. I know though that this is all commercialism, and the reason for Christ mas in July is just so people can spend more money. I doubt the reason of Christ mas in July is about the birth of Jesus Christ.” Jesuslover52 NBC News Around 166 Million Black Friday Shoppers Expected Amid Inflation 166 million people are expecting to shop over the Thanksgiving weekend, up more than 8 million from last year. Lester Holt speaks with shoppers about their purchases and how they are managing their spending this holiday season. 3 Perspectives We can understand how sales promotion works, once we assume a certain perspective we want to look through. Photo by Brecht Corbeel on Unsplash Customer Events Business Personal perspective that Cultural calendar event Logistics, Shipping, has nothing to do with the that matter because of our Seasonality, Cost, Trends outside world. The digital social obligation as well as and many other influences mind or ego shopper. because we contribute to of business, that make that culture. them pull or push. TODAY'S SUBTOPIC Was BFCM Successful? https://www.klaviyo.com/blog/black-friday-statistics A psychological phenomenon in which cash-strapped consumers treat themselves to small luxury items TODAY'S SUBTOPIC Discount Sales Promotion  Adobe: Cyber Monday Drove $11.3 Billion in Online Spending, Breaking E-Commerce Record Across Cyber Week, consumers spent a total of $35.3 billion, up 4% YoY, bolstered by record online spending during Black Friday ($9.12 billion, up 2.3% YoY) and Thanksgiving ($5.29 billion, up 2.9% YoY), reflecting consumer uptake of big discounts across numerous categories. https://news.adobe.com/news/news-details/2022/Adob e-Cyber-Monday-Drove-11.3-Billion-in-Online-Spending- Breaking-E-Commerce-Record--/default.aspx Additional Adobe Analytics Insights Discounts hit record highs: Consumers found great deals in electronics, where discounts peaked at 25% off listed price (vs. 8% in 2021). Additional Adobe Analytics Insights Discounts hit record Mobile shopping regained highs: the spotlight: Consumers found great Thanksgiving set a new deals in electronics, where mobile record this year, discounts peaked at 25% with 55% of online sales off listed price (vs. 8% in coming via smartphones 2021). (up from 51% in 2021). Additional Adobe Analytics Insights Discounts hit record Mobile shopping regained BNPL provided highs: the spotlight: consumers flexibility: Consumers found great Thanksgiving set a new During Cyber Week, Buy deals in electronics, where mobile record this year, now, pay later orders rose discounts peaked at 25% with 55% of online sales 85% and revenue increased off listed price (vs. 8% in coming via smartphones 88%, compared with the 2021). (up from 51% in 2021). prior week. Additional Adobe Analytics Insights Discounts hit record Mobile shopping regained BNPL provided highs: the spotlight: consumers flexibility: Consumers found great Thanksgiving set a new During Cyber Week, Buy deals in electronics, where mobile record this year, now, pay later orders rose discounts peaked at 25% with 55% of online sales 85% and revenue increased off listed price (vs. 8% in coming via smartphones 88%, compared with the 2021). (up from 51% in 2021). prior week. Curbside pickup was utilized less this year: The fulfillment method was used in 13% of online orders on both Thanksgiving and Black Friday (for retailers offering the service), down from 21% in the prior year. Additional Adobe Analytics Insights Discounts hit record Mobile shopping regained BNPL provided highs: the spotlight: consumers flexibility: Consumers found great Thanksgiving set a new During Cyber Week, Buy deals in electronics, where mobile record this year, now, pay later orders rose discounts peaked at 25% with 55% of online sales 85% and revenue increased off listed price (vs. 8% in coming via smartphones 88%, compared with the 2021). (up from 51% in 2021). prior week. Curbside pickup was Impact of marketing investments: utilized less this year: The fulfillment method was Across major marketing channels, paid search remained the biggest used in 13% of online orders driver of sales for retailers across Cyber Week (28% of online sales). on both Thanksgiving and Direct (18%), affiliates/partners (18%), email (17%) and organic Black Friday (for retailers search (15%) were also major contributors. Revenue directly offering the service), down attributable to social media remained at less than 5% of total sales from 21% in the prior year. during Cyber Week, but that share has grown 27% YoY. NBC News Black Friday Rakes In Record-Breaking $9 Billion In Online Sales Alone The dash for deals continues through the holiday weekend as it kicks off to a multi-billion start. Americans showed up in big numbers in person and even broke record sales online for Black Friday. The bullwhip effect The bullwhip effect is a supply chain phenomenon describing how small fluctuations in demand at the retail level can cause progressively larger fluctuations in demand at the wholesale, distributor, manufacturer and raw material supplier levels. The effect is named after the physics involved in cracking a whip. When the person holding the whip snaps their wrist, the relatively small movement causes the whip’s wave patterns to increasingly amplify in a chain reaction. Wall Street Journal Why Everything Is On Sale: The Bullwhip Effect | WSJ If it seems like there are more sales lately, it’s because there are. General retailers are shedding excess inventory. Why? Just blame the bullwhip effect. WSJ’s Jon Hilsenrath explains what it is, and what it means for the economy. https://youtu.be/sZnxWVKhObo HOW TO APPLY THIS KNOWLEDGE SEMINAR TODAY'S SUBTOPIC Let’s Create An Event Library  1. Event Identification (15 minutes): Each group identifies key shopping or significant cultural events in their assigned month. This could include holidays, seasonal events, or any special days relevant to ecommerce. 2. E-commerce Opportunity Analysis (30 minutes): For each identified event, you should briefly outline how it could be leveraged by ecommerce businesses. This might include the types of products that could be popular and basic promotional strategies (like special discounts or themed marketing campaigns). 3. Case Example (30 minutes): Choose one event from your month and create (or find) a brief case study of an existing ecommerce business that successfully capitalized on this event. This involves a short overview of what the business did, such as specific marketing strategies or sales promotions. 4. Presentation and Sharing (15 minutes): Groups present their findings in a concise format. Focus on the key points to fit within a 3-5 minute presentation time. Deliverables: A Google Slides presentation outlining the events, potential ecommerce opportunities, and the case example. NAME OF A EVENT HERE DATE HERE: WHAT IS THIS EVENT ALL ABOUT? CULTURAL CONTEXT WHO CAN USE IT? BEST ECOMM TYPE FIT EXAMPLE OF A CAMPAIGN (VISUAL/VIDEO) there →→→ NUMBERS (ANY DATA YOU CAN FIND)