The State of Ecommerce - January 2024

In the inaugural episode of the podcast "7-figures and beyond," host Greg introduces the podcast as a resource aimed at helping brand owners and marketers elevate their businesses into the multi-million dollar revenue range. He outlines the podcast's focus on delivering actionable insights through careful guest selection and topic coverage. Greg, with 18 years of experience in digital marketing and a background in leading one of Utah's largest SEO agencies, brings firsthand expertise from his current work at Stryde and personal ventures in the automotive parts industry.Greg uses this first episode to recap the ecommerce landscape of 2023, noting a mixed but ultimately promising year, highlighted by a strong Q4. He discusses key statistics, such as a 4.9% increase in U.S. online holiday spending and the new record set by Cyber Monday. Furthermore, he addresses the rise of mobile shopping, which now accounts for over half of online sales, underscoring the importance of mobile-first strategies. Greg also touches on the widespread use of discounts during Cyber Week and the growing popularity of "buy now, pay later" options, which both shaped the 2023 shopping season.Looking ahead to 2024, Greg predicts a dynamic year influenced by various factors, including the U.S. election, ongoing inflation and interest rate issues, and rising consumer confidence. He highlights the expanding role of AI in ecommerce, the importance of personalized customer experiences, and the acceleration of social commerce. Greg stresses the necessity for brands to adapt to these trends, particularly in mobile commerce and sustainability, to remain competitive and responsive to consumer demands. This forward-looking perspective sets the tone for what listeners can expect from future episodes—insights into leveraging current trends for substantial business growth.Episode LinksGreg Shuey LinkedIn: https://www.linkedin.com/in/greg-shuey/https://www.stryde.com/the-state-of-ecommerce-2024/