MGR eCommerce Edge Weekly | July 22, 2020
Top News This Week
Walmart & Other Retailers are Reducing Black Friday Plans, May Even Cancel Altogether
Retailers are reducing and possibly cancelling their in-store Black Friday plans as they are deemed potential hotbeds for spreading COVID-19. This means that this year’s Black Friday will be entirely online, get ready for the biggest money making period in the history of eCommerce.
This will have massive ripple effects throughout retail as for many they earn anywhere from 30-60% of their annual revenues in holiday time. As if this year hadn’t been rough enough on retail, missing out on Black Friday could be a death blow.
The point is for eComm companies, if you haven’t begun preparations, start now. This year’s holiday season could easily bring in 2-3x the sales you had last year and you’ll need to be ready.
Other Notable Links:
1. Instagram officially launches checkout with Facebook Pay – RETAIL DIVE
2. Shopify signs exlcusive deal with Affirm to make them the only “Buy Now, Pay Later” app that merchants will be able to use – MARKET WATCH
3. Nostalgia in marketing, you don’t need real memories for it to work – AEON