Charged has pulled together some of the most vital and insightful figures from across the retail industry this week, covering everything from micro influencers to click and collect preferences.
Over £25 million capital raised for small businesses on Ebay
“As a small business, we found that traditional banks were not great at giving us what we needed, so when we were looking to secure additional funding, we turned to the Capital for Ebay business sellers programme,” Stuff U Sell (a company which lets an experienced professional sell on your behalf on Ebay) founder David Brackin said.
“We were pleased to find that [Ebay’s] YouLend made us an offer for a six-figure loan that flexes according to our sales volume.
“We were particularly impressed by the speed of YouLend’s service, as after only a few days of checks they turned around an offer within a few hours and the money then entered our account on the same day we agreed terms.”
Millennials demand better click-and-collect options for businesses
UK consumers, especially millennials, are expecting faster fulfilment through retailer’s click-and-collect services according to the latest data from OneStock.
A survey of over 2,000 UK shoppers revealed that 57 per cent of consumers now want retailers to offer faster click-and-collect services. This figure rises to 68 per cent of 25-34 year olds.
After the pandemic increased the amount of click-and-collect orders that were being fulfilled, almost half of UK shoppers (49 per cent) expect retailers to offer in-store collections within an hour.
Two thirds of millennials (69 per cent) want to be able to pick up an order in store in under 60 minutes.
Major influencers retain edge over ‘micros’ when it comes to bigger return on investment
Despite the growing interest in the marketability of micro influencers, research has confirmed that influencers with larger followings can generate better return on investment for brands.
A study carried out by Odore, whereby customers were able to redeem free product samples from cosmetic brands found that the number of followers who opted-in to claim the samples and hear more from the brands in the future was 53 per cent higher from influencers with over a million followers compared to ‘micro influencers’ which refers to accounts with less than 50,000.
The study involved completing a short quiz where they were given the choice to opt-in to future marketing contact from the brand.
The time it took customers to redeem the samples was measured as the time elapsed between signing up to take the quiz and the point when they completed it.
Followers who redeemed their samples from larger influencers were also quicker to do so than from micros.
Micro influencers with 10-50k followers had both the lowest opt-in rates and the slowest redemption times.
UK has lost £1.3 billion to fraud and cyber crime so far this year
The National Fraud Intelligence Bureau has published concerning numbers regarding UK organisations and the general public and losses to fraud.
“These new figures from the National Fraud Intelligence Bureau show that the cybercrime-wave, that surged though the opening days of the pandemic and into the summer of last year, may now just be a reality of the digital era,” RiskIQ Vice President Fabian Libeau said.
“Within this climate of ever-present fraud, organisations have the responsibility of protecting their brands and their customers from cyber threat. A paramount way in which organisations can protect their users and customers is through maintaining visibility into their online attack surfaces.
“Essentially, the online attack surface is every manifestation of an organisation outside of the corporate network and in the wider universe of the internet.
“By using technology that can monitor the vast tapestry of the web, organisations can detect if their branding is being used to spoof the public into being victims of fraud.
By maintaining this holistic visibility, organisations are more able to nip scams in the bud, thereby protecting themselves and the UK public.”
Freedom Day and ‘Back To Work’ boost online fashion checkouts by more than 12 per cent in July
The easing of pandemic restrictions has meant that the online fashion industry has received a much-needed boost. Data from True Fit has shown that the boom has increased online fashion order volumes ahead of people returning to the office.
Fashion checkouts were also up 51 per cent in July compared to pre-pandemic levels, demonstrating the accelerated and sustained demand for online fashion, as UK shoppers’ switch to digital has remained strong even as physical shop locations have reopened.
“We have witnessed the rise and rise of digital as fashion shoppers have switched and stayed online, even as stores have reopened,” True Fit general manager Sarah Usher said.
“But this great digital opportunity has brought a huge amount of change with it, which retailers must be ready to capitalise on if they are going to drive long-term growth and customer loyalty.”