As many as 25,000 stores could close this year in response to the COVID-19 pandemic, according to Coresight Research. But while in-store retail traffic has slowed for most businesses, online purchases are booming.
In fact, the amount customers spent online with U.S. retailers grew more than 30% in the first half of 2020. And online spending accounted for nearly 19% of total retail sales during this period.
Clearly, stores that are set up to sell online have an advantage right now. And thanks to Facebook Shops, it’s easier than ever for small businesses to launch an ecommerce store.
By setting up a free Facebook Shop, sellers can easily create an online store that lives on Facebook and Instagram and enables shoppers to browse and buy within two of the most popular social media apps. Let’s take a look at what a Facebook Shop is and what it can do for your business, as well as how to start your own. …
COVID-19. Six months ago, it was something nobody but perhaps some virologists had heard of, let alone experienced. Now the “ coronavirus economy “ is a global event that will be remembered and written about well beyond most of our lives.
There are only a handful of historical events like this that happen in one’s lifetime. This one is particularly terrible because it’s not only wreaking havoc on our global economies, our local communities, and our professional careers — it’s also posing real threats to our personal health, our safety, and even our lives.
The economy is stumbling into the unknown. We’re entering unfamiliar and uncomfortable territory after a staggering 129-months of economic expansion in the U.S. (June 2009 — Mar 2020). In April alone, more than 20 million people lost their jobs, according to payroll data from ADP. Businesses are shuttering, employees are being laid off and furloughed, and hiring freezes are being put into place everywhere. …
Retail giant Amazon is responsible for nearly half of all online retail spend in the United States, so it makes sense for ecommerce sellers to use the platform to get their products in front of buyers. However, with hundreds of millions of products for sale on Amazon, it can be a challenge to get your products seen by the right people.
One of the most effective ways to expose people to your product is through influencer marketing, which uses leaders in a specific industry to share your brand’s products and messaging with a key audience. …