US ecommerce sales make gains in Q3, $1T year in sight

Author

Stephen Babcock
November 22, 2022

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The boosted traffic and attractive offers of holiday shopping bring a lift for brands and retailers, but there's a downside. It's just the type of environment in which malicious actors looking to commit fraud can thrive. The threat level on Cyber Monday this year is projected to be particularly elevated, as SEON predicts a 100% increase in fraud attempts through bot attacks and fake profiles. Raising awareness among teams and protecting systems are key steps to prepare, said SEON’s Jimmy Fong.

On the American Customer Satisfaction Index, Amazon posted its worst score since 2000, falling below Costco and Nordstrom. As is fitting for a complex platform, the potential reasons are many: delivery times may be slipping slightly, or there could be customer service concerns. It could also be the result of more investment in third-party merchants and advertising that crowds search results. Still, Amazon Prime holds onto 98% of its customers, according to CIRP. – Wall Street Journal

Three takeaways from US ecommerce sales for the Prime Day quarter, courtesy of GlobalData Managing Director Neil Saunders: Year-over-year growth of 10.8% is “solid.” Online sales growth is back to gaining share and outpacing overall retail sales, as it did for years pre-pandemic. Looking ahead, ecommerce is still well on-pace to reach $1 trillion for the year.

Take the time to understand your customer, and you may find interesting results. True Classic makes apparel for men, but found that one-third of the customer base was women shopping for their men in their lives. So company president and Meta alum Ben Yahalom is tuning creative and user-generated content to speak to women who want men to feel great, and the brand doesn’t even have to use targeting to reach them. – Retail TouchPoints

On this week’s Dealboard of VC and M&A news in ecommerce, a pair of the largest digitally native brands get cash infusions. Plus, there’s new early stage funding for an ecommerce SaaS aggregator, Better Trucks, a gifting platfom and a haircare formula addressing gray hair.

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