{"id":5574,"date":"2023-12-23T02:51:22","date_gmt":"2023-12-23T02:51:22","guid":{"rendered":"https:\/\/tup.kxe.temporary.site\/seven-latest-marketplace-updates-you-should-know\/"},"modified":"2023-12-23T02:51:22","modified_gmt":"2023-12-23T02:51:22","slug":"seven-latest-marketplace-updates-you-should-know","status":"publish","type":"post","link":"https:\/\/okdesign.ca\/en\/seven-latest-marketplace-updates-you-should-know\/","title":{"rendered":"Seven latest marketplace updates you should know"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"cg_post_content\" wp_automatic_readability=\"143.93901111716\">\n<p><?xml encoding=\"utf-8\" ????><\/p>\n<h2>#1. <strong>Target promotes Lisa Roath <\/strong><strong>to Executive Vice President and Chief Marketing Officer<\/strong><\/h2>\n<p>Lisa Roath previously served as Senior Vice President of food and beverage merchandising. (<a rel=\"nofollow noopener\" href=\"https:\/\/corporate.target.com\/press\/releases\/2023\/07\/Target-Names-Lisa-Roath-Chief-Marketing-Officer\" target=\"_blank\">Source<\/a>)<\/p>\n<ul>\n<li>\ud83d\udcc8 In her new role, Roath will lead the company\u2019s core marketing functions, including creative, guest marketing strategy, retail brand experience, social media, paid media strategy, and marketing strategy and operations.<\/li>\n<li>\ud83d\udcbc During her time in the food and beverage merchandising role, Target\u2019s annual food and beverage sales grew by over $5 billion since 2019, and the company established itself as one of America\u2019s largest digital grocers.<\/li>\n<li>\ud83d\udca1 Roath\u2019s focus on innovation helped quadruple the number of emerging brands in Target\u2019s assortment.<\/li>\n<\/ul>\n<h3><strong>Actionable advice<\/strong><\/h3>\n<p>Prioritize innovation within your own marketing strategies, leveraging digital channels to engage with customers effectively and enhance the guest experience. Additionally, explore incorporating emerging brands into your product assortments to appeal to diverse customer segments and foster loyalty. By emulating Roath\u2019s approach, businesses can foster sustainable long-term growth and stay ahead in today\u2019s competitive market.<\/p>\n<h2><strong>#2. <\/strong><strong>Walmart launches a one-of-its-kind digital-first shopping experience in collaboration with athletes, artists and celebrities<\/strong><\/h2>\n<p>Walmart is collaborating with celebrities like Patrick Mahomes, Becky G, and Barbie, to offer customized shopping carts filled with their favorite products. (<a rel=\"nofollow noopener\" href=\"https:\/\/corporate.walmart.com\/newsroom\/2023\/07\/12\/patrick-mahomes-becky-g-and-barbie-inspire-new-ways-to-shop-their-favorite-products\" target=\"_blank\">Source<\/a>)<\/p>\n<p>\t\t\t\t\t<!-- Rezonence Block --><\/p>\n<p><!-- Rezonence Block End -->\t\t\t\t\t<\/p>\n<ul>\n<li>\ud83c\udfc8 Patrick Mahomes, the NFL quarterback, shares his top picks for downtime and family time, including recovery gear and outdoor toys.<\/li>\n<li>\ud83c\udfa4 Global superstar Becky G reveals her must-have items for staying strong on-the-go during her busy tour season, along with her favorite spices for home cooking.<\/li>\n<li>\ud83d\udc78 Barbie, the timeless pop culture icon, showcases her favorite summer items, from beauty products to sports equipment, for a perfect summer.<\/li>\n<li>\ud83d\uded2 Walmart\u2019s new shopping experience makes it easier for customers to connect with their favorite celebrities and shop their most-loved items.<\/li>\n<li>\ud83c\udf1f Walmart aims to provide products that cater to the diverse interests and needs of its customers, from athletes to artists, to anyone who shops with them regularly.<\/li>\n<li>\ud83c\udf10 The digital shopping experience will be available at Walmart.com\/Live and on Walmart\u2019s Facebook page for live streams of celebrity shopping carts.<\/li>\n<\/ul>\n<h3><strong>Actionable advice<\/strong><\/h3>\n<p>Learn from Walmart\u2019s digital-first shopping experience and leverage the power of celebrity endorsements and personalized curation to enhance your own marketing strategies. By partnering with well-known influencers or celebrities who align with your brand values and target audience, create personalized shopping carts that resonate with customers on a deeper level. This approach adds authenticity and trust, as consumers are more likely to trust recommendations from familiar faces. Additionally, brands can use live streaming platforms like Facebook to showcase these curated shopping experiences, providing real-time interactions with influencers and enabling customers to engage directly with the products they love. This initiative not only fosters a sense of community but also caters to diverse interests and needs, ensuring a more inclusive and engaging shopping experience for their audience. By embracing digital-first approaches and incorporating personalized celebrity curation, brands can attract more customers, build stronger connections, and ultimately drive sales and brand loyalty.<\/p>\n<h2><strong>#3. <\/strong><strong>Walmart Open Call 2023 to accelerate growth with a $350 billion commitment towards \u2018US Manufacturing\u2019<\/strong><\/h2>\n<p>The \u00a0Open Call event provides small business owners and entrepreneurs with the opportunity to pitch their products to be sold on Walmart or Sam\u2019s Club shelves or online. (<a rel=\"nofollow noopener\" href=\"https:\/\/corporate.walmart.com\/newsroom\/2023\/07\/18\/walmart-kicks-off-application-period-for-open-call-2023-beginning-countdown-to-open-calls-tenth-anniversary\" target=\"_blank\">Source<\/a>)<\/p>\n<ul>\n<li>\ud83d\uddd3\ufe0f The application period for Open Call is open until August 18, 2023.<\/li>\n<li>\ud83d\udcc5 Open Call will take place on October 24 and 25 during Manufacturing Month 2023.<\/li>\n<li>\ud83c\udf9f\ufe0f Since its inception in 2014, Open Call has provided over 9,000 opportunities for small and medium businesses to grow with Walmart.<\/li>\n<li>\ud83d\ude80 Entrepreneurs who earn a \u201cgolden ticket\u201d during Open Call get the chance to have their products sold at Walmart, enabling business growth.<\/li>\n<li>\ud83e\udd1d All Open Call finalists gain access to mentoring sessions with Walmart leaders and special guests, as well as one-on-one pitch meetings with Walmart and\/or Sam\u2019s Club merchants.<\/li>\n<li>\ud83d\ude9b Walmart is touring the U.S. with its Walmart: Made Local trailer to discover new Open Call entrepreneurs, starting from July 10 and stopping at various cities like Philadelphia, Cleveland, Indianapolis, and Chicago.<\/li>\n<\/ul>\n<h3><strong>Actionable advice<\/strong><\/h3>\n<p>Capitalize on the information about Walmart\u2019s Open Call and its commitment to U.S. manufacturing to explore potential partnerships and opportunities for your own brand and business. Actively participate in the Open Call application process, especially if you work with an emerging or medium-sized enterprise seeking to expand its reach and grow with Walmart. The \u201cgolden ticket\u201d opportunity to have products sold at Walmart can be a game-changer, propelling business growth and increasing brand visibility. By participating in Open Call, brands can gain access to invaluable mentoring sessions with Walmart leaders and special guests, as well as one-on-one pitch meetings, which can potentially open doors for long-term partnerships and collaborations. Overall, this information presents an exciting avenue to connect with one of the largest retailers in the U.S., fostering growth, visibility, and success in the market.<\/p>\n<h2><strong>#4. <\/strong><strong>Amazon\u2019s biggest Prime Day Sale ever with $ 12.7 billion spent<\/strong><\/h2>\n<p>Amazon\u2019s Prime Day 2023 saw significant growth in online spending, setting a new sales record. Personalization played a crucial role in attracting and satisfying customers. (<a rel=\"nofollow noopener\" href=\"https:\/\/www.cnbc.com\/2023\/07\/13\/amazon-prime-day-more-than-375-million-items-sold.html\" target=\"_blank\">Source<\/a>)<\/p>\n<ul>\n<li>\ud83d\udcb8 U.S. e-commerce sales increased by 6% on July 11 and 6.4% on July 12, reaching a record $12.7 billion for the two days.<\/li>\n<li>\ud83d\uded2 6.5% of online orders, totaling $927 million in sales, used \u201cbuy now, pay later,\u201d a 20% increase from the previous year.<\/li>\n<li>\ud83d\ude97 Curbside pickup was utilized in 20% of online orders on July 12, showing increased expectations for this service during the holiday season.<\/li>\n<li>\ud83d\udcc9 More than half of Prime Day shoppers made purchases they had been delaying until they went on sale.<\/li>\n<li>\ud83c\udf84 Retailers like Walmart and Target held promotion events alongside Amazon Prime Day, with their events spanning seven and four days, respectively.<\/li>\n<li>\ud83d\udcb0 Over half of Prime Day items were priced under $20, with an average spend per item of $32.35. The top categories were home goods, household essentials, and apparel and footwear.<\/li>\n<li>\ud83d\udc69\u200d\ud83d\udcbc The typical Prime Day shopper was a high-income, suburban female aged 35 to 44, with 88% being Prime members and many having been members since 2019 or earlier.<\/li>\n<\/ul>\n<h3><strong>Actionable advice<\/strong><\/h3>\n<p>With a surge in U.S. e-commerce sales, a strong online presence is vital to meet growing market demand. You can draw valuable insights from Amazon\u2019s Prime Day guidelines to optimize your own stores and promotions effectively. For instance, by adhering to ad policy and using the Featured Deals widget (FDW) carefully, you can create promotional messaging that attracts more customers, and drive sales. You must also collaborate with major retailers for joint promotions, targeting the typical Prime Day shopper profile \u2013 high-income, suburban females aged 35 to 44 and long-time Prime members \u2013 as this can enhance brand visibility and resonate with specific audiences. Using these insights strategically enables seizing opportunities and adapting to consumer behaviors for increased sales during peak shopping periods.<\/p>\n<h2><strong>#5. <\/strong><strong>Etsy to sell Elo7, its Brazilian marketplace citing \u2018underperformance\u2019<\/strong><\/h2>\n<p>The acquisition of Elo7 did not meet expectations due to challenges in the macroeconomic environment, leading to a decision to sell it to a Brazilian corporation. (<a rel=\"nofollow noopener\" href=\"https:\/\/www.fool.com\/investing\/2023\/07\/18\/etsy-shrinks-its-house-of-brands-by-dumping-elo7\/\" target=\"_blank\">Source<\/a>)<\/p>\n<ul>\n<li>\ud83c\udfe0 Etsy\u2019s growth strategy included creating a \u201cHouse of Brands\u201d targeting opportunities beyond its core marketplace.<\/li>\n<li>\ud83d\udcc8 Etsy\u2019s House of Brands initially had four members: Etsy, Reverb, Depop, and Elo7.<\/li>\n<li>\ud83d\udcb0 Elo7 was acquired for $217 million in 2021 to tap into the Latin American market.<\/li>\n<li>\ud83c\udf10 Elo7 was already a top 10 e-commerce company in Brazil with 1.9 million active buyers and 56,000 active sellers at the time of acquisition.<\/li>\n<li>\ud83d\udcc9 Etsy\u2019s growth has slowed down after the pandemic peak, with a decline in gross merchandise sales and new buyers.<\/li>\n<li>\ud83e\udd1d Etsy plans to focus on improving the buyer and seller experiences, leveraging AI technology to enhance search and shipping processes.<\/li>\n<\/ul>\n<h3><strong>Actionable advice<\/strong><\/h3>\n<p>The decision to sell Elo7 due to underperformance underscores the significance of conducting thorough market research and adapting strategies to changing conditions to remain competitive. Businesses must invest in technology, particularly AI, to enhance the customer journey which can lead to improved buyer and seller experiences. Brands should also adopt a long-term vision, remaining committed to delivering value to customers and investors, even during challenging periods. By applying these insights, marketers can position themselves for sustainable growth, adapt to market changes, and create a seamless and valuable customer experience.<\/p>\n<h2><strong>#6. <\/strong><strong>FTC files lawsuit against Amazon over deceptive practices for Amazon Prime<\/strong><\/h2>\n<p>The lawsuit represents the FTC\u2019s most significant action against such practices and follows a months-long investigation into Amazon\u2019s Prime practices. (<a rel=\"nofollow noopener\" href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2023\/06\/ftc-takes-action-against-amazon-enrolling-consumers-amazon-prime-without-consent-sabotaging-their\" target=\"_blank\">Source<\/a>)<\/p>\n<ul>\n<li>\ud83c\udfaf Amazon used manipulative \u201cdark patterns\u201d to trick consumers into unknowingly enrolling in automatically-renewing Prime subscriptions.<\/li>\n<li>\ud83d\udd04 Amazon intentionally complicated the cancellation process for Prime subscribers to deter them from canceling.<\/li>\n<li>\ud83d\udcb0 Amazon\u2019s bottom line influenced the company\u2019s decisions to slow or reject changes that would have made it easier for users to cancel Prime.<\/li>\n<li>\ud83d\uded1 The FTC\u2019s complaint, currently redacted, accuses Amazon of nonconsensual enrollment and violations of the FTC Act and the Restore Online Shoppers\u2019 Confidence Act.<\/li>\n<li>\ud83d\udd00 During the checkout process, consumers were presented with multiple opportunities to subscribe to Amazon Prime, making it difficult to purchase items without subscribing.<\/li>\n<li>\u274c Amazon implemented a multi-step cancellation process, redirecting consumers to pages with offers to continue the subscription or turn off auto-renewal before allowing cancellation.<\/li>\n<li>\ud83d\udd75\ufe0f\u200d\u2642\ufe0f Amazon executives failed to address the issues until the FTC investigation and attempted to delay and hinder the Commission\u2019s investigation.<\/li>\n<\/ul>\n<h3><strong>Actionable advice<\/strong><\/h3>\n<p>Businesses must take a leaf from Amazon\u2019s lawsuit to reinforce ethical practices and transparent user experiences in their organization. By prioritizing intuitive user experience design, clear communication, and easy cancellation options, they can build trust and reduce customer frustration. Besides, compliance with consumer protection regulations is crucial, necessitating continuous awareness and adherence to legal requirements. Understanding the impact on customer perception, brands should ensure transparency in subscription models and cancellation processes to maintain positive relationships. Overall, marketers must emphasize ethics, optimize user experiences, comply with regulations, engage proactively, and manage customer perception appropriately.<\/p>\n<h2><strong>#7. <\/strong>Walmart opens largest tech fulfillment center\u00a0in Indiana<\/h2>\n<p>Walmart aims to reach 95% of the U.S. population with next-day or two-day shipping through these new fulfillment centers. The company is combining people, robotics, and machine learning to optimize its fulfillment processes. (<a rel=\"nofollow noopener\" href=\"https:\/\/corporate.walmart.com\/newsroom\/2023\/06\/15\/walmart-opens-high-tech-fulfillment-center-near-indianapolis\" target=\"_blank\">Source<\/a>)<\/p>\n<ul>\n<li>\ud83d\udce6 The facility combines people, technology, and machine learning to increase order capacity and expedite shipping.<\/li>\n<li>\ud83d\udcbc The McCordsville center will employ over 1,000 associates and offer new career pathways, including tech-focused jobs.<\/li>\n<\/ul>\n<h3><strong>Actionable advice<\/strong><\/h3>\n<p>Draw from Walmart\u2019s new fulfillment center model to enhance their logistical and customer experience by highlighting the increased order capacity and faster shipping. Brands and businesses can especially focus their attention on the supply chain modernization journey within their firm with the help of machine learning and AI-powered robots. Besides, drawing inspiration from its philanthropic initiatives, marketers can strengthen their own community engagement efforts, thereby building a positive brand reputation.<\/p>\n<hr\/>\n<div wp_automatic_readability=\"12.647727272727\">\n<p><strong>Subscribe to the <a rel=\"nofollow noopener\" href=\"https:\/\/www.clickz.com\/#newsletter-modal\" target=\"_blank\" data-feathr-click-track=\"true\">ClickZ newsletter<\/a> for insights on the evolving marketing landscape, performance marketing, customer experience, thought leadership, videos, podcasts, and more.<\/strong><\/p>\n<\/div>\n<p>\t<!-- Rezonence Block --><\/p>\n<p><!-- Rezonence Block End --><\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.clickz.com\/the-latest-marketplace-updates-you-should-know\/268904\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>#1. Target promotes Lisa Roath to Executive Vice President and Chief Marketing Officer Lisa Roath previously served as Senior Vice President of food and beverage merchandising. (Source) \ud83d\udcc8 In her new role, Roath will lead the company\u2019s core marketing functions, including creative, guest marketing strategy, retail brand experience, social media, paid media strategy, and marketing [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Seven latest marketplace updates you should know - OK Design<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/okdesign.ca\/en\/seven-latest-marketplace-updates-you-should-know\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seven latest marketplace updates you should know\" \/>\n<meta property=\"og:description\" content=\"#1. Target promotes Lisa Roath to Executive Vice President and Chief Marketing Officer Lisa Roath previously served as Senior Vice President of food and beverage merchandising. 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Target promotes Lisa Roath to Executive Vice President and Chief Marketing Officer Lisa Roath previously served as Senior Vice President of food and beverage merchandising. 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