Hey!!! Thanks for tuning in, let's go through my favourite pieces of news this week :) What's the Latest?
- China has the highest rate of social commerce shoppers—nearly 50% have purchased from social networks
- 91% of shoppers make online purchases using their smartphone
- The average monetary loss in an e-commerce scam is $96
Gen-Z announce what's the issue with ecommerce: Irrelevant ads
33% of Gen-Z state they dislike irrelevant ads BUT 73% agree that "it's satisfying when I find something I needed last-minute while checking out". and 67% of Gen-Zers globally agree that they "enjoy the feeling of adding a little something extra to my online shopping cart when I'm checking out."
What does this mean? Ads on ecommerce sites MUST be hyper-relevant to each user, and you will see results. Gen-Z also voted for the top five key retail features:
- Compare prices (47%)
- Find deals (45%)
- Receive relevant offers and product suggestions (41%)
- Receive personalized assistance (37%)
- Find reviews (28%)
Indonesia bans e-commerce transactions on social media platforms
The government said the move, which takes effect immediately, is aimed at protecting offline merchants and marketplaces, adding that predatory pricing on social media platforms is threatening small and medium-sized enterprises. The move comes just three months after TikTok pledged to invest billion of dollars in Southeast Asia, mainly in Indonesia.
A TikTok Indonesia spokesperson said it would pursue a constructive path forward and was “deeply concerned” with the announcement, “particularly how it would impact the livelihoods of the 6 million” local sellers active on TikTok Shop.
Is brand loyalty dead, outdated or both?
57% are less loyal to brands now than they were pre-pandemic, partially attributed to the extreme shift in the economy, as consumers are weighing their priorities and determining whether or not certain products or services are worth the price tag.
Is this a good thing? Maybe not for this huge companies, but great for small and medium to brands to stand a more even chance of finding new customers.
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