🛍 DTC Daily - Friday, Feb 3

Today's DTC news, tips, & tools you need to know

February 03, 2023

🌐 1 - B2B e-commerce trends you need to know

📰 TL;DR - If any company is poised to understand dropshipping trends, it's Alibaba.com. The B2B marketplace has released its outlook report for 2023. covering trends it predicts will shape e-commerce in the coming year. Here are some highlights:

  • Personalization of the customer experience journey

  • Greater use of chatbots

  • More short-form video marketing

💡 Insight - This is essential reading if you're a dropshipper, whether you source from Alibaba or not. In such a competitive space, any advantage should be employed and this report is a thorough rundown of what other brands are doing and how you can keep up.

🤳🏽 2 - The TikTokification of e-commerce

📰 TL;DR - Everyone is hopping on board the short-video train, and e-commerce is no exception. TikTok has proven that audiences love not just short videos, but the joy of discovery in an endless feed. That's why Amazon launched the Isnpire feed in its app and why there are now startups trying to capture the same vibe for other retailers. 

💡 Insight - Being on TikTok is obviously an excellent way to get in on this trend, but are there other ways you can incorporate the open-ended discovery into your shopping experience? Maybe that's a reel of customer videos with product links on your site or app, or working with one of these start-ups. 

❌ 3 - Layoffs at Ruggable

📰 TL;DR - Another DTC brand has had a round of layoffs. This time, it's washable rug brand Ruggable. Retail Dive reports 100 employees were let go on January 27. Other DTC brands who've had layoffs include Gymshark, Wayfair, Glossier, Allbirds, and Warby Parker.

💡 Insight - Layoffs have hit many major industries in January, including media and tech. There's no reason to think e-commerce would be immune. Word is that pressure is coming from investors who want profitability instead of pure growth. So that's a reminder to you that any outside financing is going to come with stern strings.

🛒4 - Forever21 got a major checkout upgrade

📰 TL;DR - Forever21 now has one-click checkout for its website and app. And it's truly one-click — as long as the customer has their profile filled out, they can use the express feature. Forever21 partnered with Bolt, a checkout platform, to get it done. The brand said they have a 63% checkout rate for Bolt users, compared to 40% for guest accounts.

💡 Insight - Bottom line: a faster checkout means a higher conversion rate. That's why Prime and Shop Pay exist. A quick checkout is simply a better customer experience and reduces cart abandonment. You should be using whatever quick checkout your e-commerce platform of choice offers, and be on the lookout for new apps and start-ups offering this service.

📬 5 - Fanatics launches livestream shopping

📰 TL;DR - Fanatics, a sports collectibles, gear, and apparel seller, snagged a former Snap and Alphabet exec to launch a livestream shopping experience. There will be a standalone app plus a website where sellers can buy collectibles, with Fanatics capturing a percentage of each sale. This does double duty as a commerce experience and community-building platform.

💡 Insight - While it's true that livestream shopping hasn't caught on in the U.S. the way it has in Asia, it's definitely growing. Livestream shopping is expected to grow to $32 billion in the U.S. in 2023. Now is the time to take advantage of shopping integrations on platforms like TikTok and Twitch.

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