The Secret Trends of eCommerce in 2023
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In this eCommerce Expo session, Carl West, Sales Director UK & Ireland at Foxintelligence, and Ashleigh Bond, Head of Commercial Insight at ASOS, assumed the spotlight to uncover the concealed trends that steered the eCommerce landscape in 2023.
Decoding Consumer Behaviour with Data
Carl West kicked off the session by delving into the intricate world of consumer behaviour, leveraging data from over 5 million online shoppers. Foxintelligence's data-driven approach provided a profound understanding of trends that are steering the eCommerce ship in 2023.
Hot Topics in eCommerce
West navigated through six hot eCommerce topics, unraveling trends that demand attention. From the burgeoning importance of Fast-Moving Consumer Goods (FMCG) to the exponential growth of marketplaces like Temu, and the untapped potential of social commerce on platforms like TikTok – the session painted a comprehensive picture of the dynamic industry landscape.
The Surge of Secondhand and Refurbished Sales
Acknowledging the prevailing cost of living pressures, West highlighted the rapid growth of secondhand and refurbished sales. This trend, particularly in categories like fashion, signifies a shift in consumer preferences towards sustainable and cost-effective choices.
The Black Friday Phenomenon
The colossal scale of Black Friday took centre stage in the discussion. West underscored the imperative for retailers to optimise promotions, manage inventory efficiently, and target their audience strategically to thrive in the high-stakes Black Friday environment.
Data-Driven Insights at ASOS
Ashleigh Bond from ASOS took the baton, shedding light on how their analytics team utilises data to diagnose performance issues, fine-tune pricing and assortment, and model the impact on business. This insider perspective from one of the industry giants provided a real-world glimpse into the practical application of analytics in eCommerce.
The Crucial Role of Customer Data
As the session drew to a close, Carl West emphasised the pivotal role of customer data and insights. These invaluable resources enable businesses to focus their efforts on the most valuable shopper segments. Attendees were invited to explore Fox's platform, opening the door to a wealth of data-driven opportunities.
Watch the Full Session
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