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eCommerce tool of the week 🪛

US E-Commerce to exceed $1.1 trillion in 2023

Vestiaire Collective bans H&M and Zara

NBA team partner up with Fanatics

eCommerce counting on discounts for remainder of 2023

eCommerce SaaS company Unicommerce eye-balls IPO

eCommerce Course of the Week 📚

eCommerce Tool of the Week

(not a sponsor just a tool we like)

ThriveCart is a shopping cart platform enabling businesses to boost revenue with high converting cart pages.

US E-Commerce to exceed $1.1 trillion in 2023

The U.S. e-commerce landscape is poised to surpass $1.1 trillion in 2023, marking continued growth, though at the slowest rate since 2009.

In 2022, e-commerce transactions hit $1 trillion, and this year’s 7% growth brings the total to $1.1 trillion, defying pre-pandemic projections by maintaining a 14% lead over the trendline.

However, beneath this success lies a nuanced reality. The 7% growth in 2023 represents the slowest pace since 2009, with adjusted figures considering inflation further tempering the expansion. The pandemic-induced surge in e-commerce is gradually diminishing, potentially aligning with the trendline in the coming years. Larger players like Amazon, Walmart, Shein, and Temu have outpaced the 7% rate, leaving smaller contenders with a less favorable growth outlook.

Although e-commerce’s share of retail has plateaued in recent years, the absolute dollars flowing through this digital marketplace continue to rise. Despite 2023 marking a growth nadir at 7%, expectations point to a rebound, with projections foreseeing a more robust 9-10% growth in the near future.

Vestiaire Collective bans H&M and Zara

In a bold move ahead of Black Friday, Vestiaire Collective, a prominent player in the recommerce market, has taken a stand against fast fashion, excluding brands like H&M, Zara, and more from its platform. 

As part of its ‘Think First, Buy Second’ campaign, the French company is urging both partners and consumers to reconsider the environmental and social impact of their purchases. This second wave of action follows last year’s ban on several fast-fashion brands. 

Vestiaire Collective’s commitment to a circular economy is evident in its criteria, assessing factors like product quality, carbon emissions, and working conditions.

The ban, which already impacted 70% of members last year, is poised to continue, with a third wave of exclusions planned for next year.

Minnesota Timberwolves & Lynx team up with Fanatics

In a significant development, the Minnesota Timberwolves and Minnesota Lynx have entered an exclusive, long-term partnership with global digital sports platform Fanatics. 

This collaboration designates Fanatics as the end-to-end retail partner for both teams, managing their official e-commerce business and in-venue retail touchpoints during game days at Target Center. 

The partnership coincides with heightened demand for new merchandise, leading to record-breaking in-store purchases. A key feature is the launch of a tech-infused e-commerce destination powered by Fanatics’ Cloud Commerce Platform, offering a seamless online shopping experience. 

Additionally, Fanatics plans a capital investment to redesign Target Center’s in-venue shopping experience, including team stores and kiosks, aiming for enhanced accessibility during high-traffic events. 

Two new in-arena team stores will also be introduced, featuring leading brands like Fanatics, Nike, Mitchell & Ness, and WinCraft. 

This collaboration solidifies Fanatics as the official e-commerce partner for both the NBA and WNBA and extends its presence in Minneapolis alongside partnerships with the NFL’s Minnesota Vikings and University of Minnesota Athletics.

E-commerce counting on discounts for remainder of 2023

Navigating a blend of economic strains, including elevated grocery and housing costs, consumers in late 2023 are favoring experiences like concerts while resorting to discount shopping. This analysis probes online discount shopping, anticipated to surge in influence as the holiday season approaches. The second part will scrutinize another facet—discount retailers and groceries—as earnings reports unfold.

While overall retail faces a potential downturn, the endurance of retail evolution is apparent in the rising prominence of e-commerce. E-commerce, seen as a resilient frontier, is set to outperform traditional models despite a current deceleration. Proprietary estimates foresee a robust 9.0% YoY growth in Q3 2023, constituting a 15.8% market share of total retail sales.

Beneficiaries include e-commerce giants like Amazon and Alibaba, along with traditional retailers embracing omnichannel strategies. Logistics firms, especially with last-mile operations, like FedEx and UPS, must modernize to match evolving e-commerce landscapes.

E-commerce ETFs, tethered to various thematic and sector-specific stocks, remain resilient amid fluctuating retail sales. As retail earnings season unfolds, a focus on consumer demand and holiday spending is expected, highlighting consumers’ emphasis on entertainment spending amid a backdrop of financial prudence. The pillars of e-commerce and discount retailing are pivotal in addressing consumer demands for savings and value.

E-commerce SaaS company Unicommerce eye-balls IPO

Unicommerce, an e-commerce Software as a Service (SaaS) company, is set to follow Mamaearth’s lead by pursuing an Initial Public Offering (IPO) expected late next year. 

AceVector Limited, Unicommerce’s parent entity, has enlisted CLSA, an investment firm, to manage the IPO’s book-building process, according to reports. Unicommerce provides post-purchase experience management through SaaS-integrated supply chain technology for D2C brands, omnichannel retailers, and online sellers. 

Collaborating with businesses across 45+ industries, its clientele includes major brands like Mamearth, Bestseller, boAt Lifestyle, Lenskart, Sugar Cosmetics, Timex, Myntra, and TCNS. The platform claims to facilitate 1.7 million e-commerce transactions daily and has garnered $11.1 million in total funding. 

Founded in 2012, Unicommerce was acquired by Snapdeal in 2015. CEO Kapil Makhija hinted at an IPO, considering various factors, including market conditions and the company’s journey. Makhija also expressed openness to investing in other tech startups to enhance Unicommerce’s offerings, citing the company’s profitability as a facilitating factor.

eCommerce Course of the Week

GA4 Course + Two Google Tag Manager Courses

Google Analytics 4 is very different from its previous versions. And there are many things for you to learn if you want to get value out of your data. We are not talking just about reporting. We are talking about getting insights.

There are several ways how you can send data to GA4 and the most recommended is Google Tag Manager. It gives you flexibility and speed when it comes to analytics configurations.

Combine these two tools into a powerful force. Learn how to do that with 3 courses:

Google Tag Manager Masterclass for Beginners

Intermediate/Advanced Google Tag Manager course

Google Analytics 4 course

GET THE COURSE

Signing off,

The Merchant @CartHustle