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June 2016

The current state of social commerce

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Social commerce is said to be one of this year’s marketing trends as more consumers rely on recommendations from their friends and other shoppers when making their purchasing decisions. But how do consumers across the world and in the UK use deal-sharing communities like HotUKDeals to do their shopping?

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Why Social Commerce isn’t failing

Social Commerce isn't going go fail

Buy Buttons have been heavily discussed during the last couple of months as major players such as Facebook, Pinterest and Instagram are going to implement those buttons and other advertising formats for internet retailers to monetize on eCommerce. But now as Twitter decided to curtail product development on its Buy Button and shifted its commerce team into other divisions within the company, first doubts are expressed. Andrew Meola, writer for Business Insider’s premium research service BI Intelligence, has even come up with the theory that Social Commerce is failing because most Social Media users aren’t very likely to click on a Buy Button. In our eyes, Andrew Meola’s article is typical for the discussion about Social Commerce that is insufficient and superficial in at least three aspects.

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alte-zeitungen

It’s already the ninth of June today – time to look back at all those changes that happen and news that were discussed since our last news update one month ago. While Twitter has finally and – as we believe – unavoidably disbanded its Social Commerce team, Amazon is still struggling to get a grip on fake reviews on its marketplaces and Rakuten shuts down its British marketplace. But there were also some good news: Raising an impressive amount of $1.8 billion in its Series F Snapchat has shown once again that the company is going to shape the future of Social Commerce and the way how people with each other.

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The first of June hasn’t been a good day for Number26. In fact, it has been one of the worst days in the still young history of the Berlin-based startup that was founded only three years ago, but is already seen as one of Germany’s leading players in financial technology (FinTech). The reason for Number26′ image loss is not necessarily the fact that the company has dismissed more than hundred of its customers, but that Number26 made at least five avoidable communication errors companies should avoid to communicate successfully.

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