Richard Plant details the latest e-Commerce news, including what product categories are tipped for success in 2016, news of eBay selling its Enterprise Unit, and 12 ways to cut basket abandonment.
8 e-Commerce Categories To Watch In 2016
e-commerce sales in the US alone are tipped to exceed $550 billion dollars in 2016. But what industries or product categories are set to succeed in the coming 12 months? Jennifer Lonoff Schiff tips the following for 2016 e-Commerce gains:
- Baby products
- Educational products
- Furniture and home décor
- Handmade products and crafts
- Pet care products
- Speciality foods
eBay Sells Enterprise Unit, Launches Magento Commerce
eBay finalised the sale of its eBay Enterprise unit for $925 million to a consortium of private equity investors, including Permira Funds, at the start of November. eBay Enterprise helps retailers build and manage online storefronts on the e-commerce site.
At the same time as the sale, Permira Funds announced it was spinning out assets it gained in the deal into Magento Commerce.
Permira-owned Magento Commerce will now include the Magento open source platform and eBay’s former Retail Innovation division.
Analysts have predicted that, as a result of the reshuffle, Magento Commerce will continue to grow its market presence working with businesses with a merchandise volume of $25 million to $100 million a year.
12 Ways to Cut Basket Abandonment Rates
Overall basket abandonment rates are currently 76.6% - this article by Jack Simpson of Econsultancy provides 12 considerations to aid the reduction of cart abandonment. He advises:
- Simplify your forms
- Shorten the checkout process
- Use progress indicators
- Be transparent on delivery charges
- Keep basket summary visible
- Don’t make registration essential to buy
- Use call to actions at every stage
- Promote security credentials
- Display contact details
- Avoid distraction – have a clean checkout page
- Reduce load times
- Follow up by email
Target Corporation Targets Global e-Commerce Audience
US discount retailer Target Corporation took its website global earlier this month, following significant investment in its online retail channels. The American brand has a number of e-commerce initiatives it hopes to push as part of the new site roll out. These include building a global audience, driving traffic with free shipping and adding ship from store capabilities to 100 additional stores.
In addition, Target hopes to extend its curbside pick-up service and broaden its partnership with Instacart. UK supermarkets, be warned!
Researchers Discover Magento Vulnerabilities
Researchers have discovered two vulnerabilities in the Magento e-commerce platform.
Dawid Golunski found an XML eXternal Entity (XXE) injection flaw running on Magento’s latest PHP version. He advised that the correct Zend Framework vulnerability that caused the problems is CVE-2015-5161.
Ebrahim Hegazy discovered a remote code execution (RCE) exploit, which enabled him to run unauthorised PHP code from the installer via some unsanitised form fields.
More Online Retail News
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