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- Ecommerce Round Up - April 18, 2024
Ecommerce Round Up - April 18, 2024
🪄 Black Crow's AI can help predict your customer's behavior 🔎 Micro Boost finds you influencers so you don’t have to 🚧 Shopee still holds out against its rivals
Good morning! Today we got some news on:
🪄 Black Crow's AI can help predict your customer's behavior
🔎 Micro Boost finds you influencers so you don’t have to
🚧 Shopee still holds out against its rivals
Black Crow's AI can help predict your customer's behavior
🪄 Who’s Black Crow?
Black Crow AI doesn't just analyze past data, it uses it to predict future behavior. This means you can identify high-value customers the moment they land on your site, letting you tailor your approach and convert more sales.
Here's how it works:
It uses smart ID to gather past behavior, which it then uses to predict future behavior
Black Crow AI can also predict when a customer is about to abandon their cart and send them a reminder to complete their purchase.
It’s AI is quick, generating predictions in 15 milliseconds. This means you can make data-driven decisions faster and see results sooner.
🔨 And its easy to set up
Black Crow AI also works with your existing Shopify store. This means you can be up and running in no time, focusing your energy on what matters most.
There's no need for a team of IT specialists or hours spent troubleshooting. It’s designed to be user-friendly and accessible for businesses of all sizes.
The company secured a $25 million in Series A funding in 2022, led by Imaginary Ventures which will be used to develop new features and expand its reach for more ecommerce businesses.
Micro Boost finds you influencers so you don’t have to
🔎 Micro-influencer finder
Gen Z wants real people, relatable voices, and that's where micro-influencers come in.
Screenshot Media, a marketing firm, just launched "Micro Boost," a service connecting brands with nano (1,000-10,000 followers) and micro (10,000-100,000 followers) influencers.
🤏 Why micro?
Micro-influencers, with their smaller, more engaged communities, are building genuine connections and acting as friends giving you recommendations.
82% of consumers are more likely to listen to micro-influencer recommendations than influencers nearing celebrity status.
Brands are also taking notice.
92% plan to increase their social media and influencer marketing budgets in 2024.
🛠️ How it works
Micro Boost makes the influencer selection process easier. It connects you with the micro-influencers who are setting the trends right now.
They make sure your brand message lands at the perfect moment and right in the heart of what's generating buzz.
According to Screenshot Media themselves, they can even reach the hardest-to-reach communities.
If you want to connect with Gen Z, "Micro Boost" can help you find the perfect micro-influencer to amplify your brand in a way that feels real, relevant, and, most importantly, trusted.
Shopee still holds out against its rivals
🎖️ Shopee holding up
Sea Ltd., the parent company of Shopee, is showing signs of progress even against TikTok, Lazada, Shein and Temu.
The company reported a positive adjusted quarterly profit and a promising outlook for 2024, indicating that their efforts are paying off.
One key metric, the total value of goods sold on Shopee (gross merchandise volume), grew by 29%.
This is a positive sign for Shopee's future in the Southeast Asia, which has over 650 million potential customers.
🪖 Shopee’s rivals
This strategy could lead to lower profit margins for Shopee in the short term, but it's a necessary step to maintain market share.
Alibaba, Shopee’s main competitor, also invested an additional $634 million in Lazada.
The battle for dominance in Southeast Asian ecommerce is particularly fierce in Indonesia.
TikTok joined forces with GoTo Group's Tokopedia, acquiring a 75% stake in the company.
TikTok was previously banned in the country before doing this.
Despite the challenges, Shopee has managed to hold its own. The company claims to have made "meaningful gains in market share" in 2023 and intends to "maintain our market share in 2024."
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