Google To Track Offline Retail Sales Influenced By Search Ads
Welcome to our new E-Commerce Insider newsletter, a morning email with the top news and analysis on the e-commerce industry, produced by BI Intelligence.
Click here to sign up for E-Commerce Insider today, and receive it every morning in your inbox.
GOOGLE TO TRACK IN-STORE PURCHASES: Google wants to know whether its search ads are driving in-store sales, so it's testing a campaign that will track how Internet users spend their money at bricks-and-mortar retailers. To do this, Google is partnering with data brokers, such as Acxiom and DataLogix, which will help the Internet giant match in-store customers with Internet users who are clicking on its search ads (thanks to the data brokers' access to loyalty program offline purchase-tracking). Facebook has been partnering with data brokers since 2012 to conduct the same type of tracking, but Google's campaign will be on a much larger scale. Retailers love using search ads because it allows them to target consumers who are already looking for something in particular. Google wants to show that those search ads are driving people to make purchases in stores, not just online. (Wall Street Journal)
QUOTE OF THE DAY: "People are spending most of their time online, but the vast majority of their consumption still happens offline. So tying those two things together is critical. That's why more and more online marketing channels are opening up to offline transaction data." - Eric Stein, executive vice president of marketing intelligence agency Epsilon.
ONLINE RETAILERS IN THE UK POST STRONG START TO THE YEAR: Online retailers in the UK saw first quarter sales up 17% year-over-year to $38.7 billion, their strongest start to the year since 2011. The growth was a result of online shopping becoming "a larger part of our everyday lives," according to tech consultancy Capgemini and UK retail association Interactive Media In Retail Group (IMRG). UK consumers are making larger, and more frequent purchases online. (IMRG, Internet Retailer)
WELCOME, E-COMMERCE INSIDERS: This is our new newsletter covering all things e-commerce. Please email csmith@businessinsider.com with news and tips. Click here to sign up for E-Commerce Insider today, and receive it every morning in your inbox.
RETAILERS TO SHARE CYBER THREAT DATA: In the wake of a cyber attack that rocked consumer confidence in Target, U.S. retailers will establish an industry group for collecting and sharing information about possible security threats. The financial services industry, which has a similar group for information-sharing and threat analysis, will help the National Retail Federation with setting up the new task force. Once established, retailers will have a formal forum for discussing potential threats to credit card fraud and information security, as well as collaborate about how to prevent future attacks. (Reuters)
ETSY JUMPS INTO WHOLESALE BUSINESS: Etsy, an online marketplace for handmade and vintage goods, is getting into the wholesale business. Sellers can now take wholesale orders from merchants via Etsy, so that their products can be sold in stores. Etsy will take its standard 3.5% commission on all transactions. The online marketplace has become a popular sales channel for artists and craftsmen to sell directly to consumers, but now with the help of Etsy, they have the potential to see their products sold in thousands of retail stores. (New York Times)
The perception of eBay is that people use it to buy and sell products in an auction-based format. However, a reported 73% of items last year were actually sold at a fixed price. (BBC)
Storefront, a platform that helps online brands run physical retail operations, has raised $7.3 million in venture funding. Storefront has helped brands such as Google and Indochino open pop-up shops where they can try their hand at selling via bricks-and-mortar stores without committing to a long-term lease. (Fashionista)
Here's what else BI Intelligence subscribers are reading …
Global Cash Transaction Volume On Payment Cards Is Growing Fast, While The U.S. Stagnates
Here's Why Some Consumers Still Don't Like Using Shopping Apps
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Foreign tourist arrivals in India will cross pre-pandemic level in 2024
- Upcoming smartphones launching in India in May 2024
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- Women in Leadership
- Rupee declines 5 paise to 83.43 against US dollar in early trade