Posts Tagged ‘Scot Wingo’
Monday, October 3rd, 2011
 Scot Wingo, CEO, ChannelAdvisor “If you build it, they will come” no longer works for online retailers: heading into the holiday shopping season, a new survey reveals that active online shoppers increasingly rely on online product reviews as a key element in their buying decisions.
The survey also found they’re increasingly interacting directly with vendors through social media sites like Facebook and Google+, and shows that deal sites such as Groupon and LivingSocial soared in popularity.
The fourth annual Global Consumer Shopping Habits Survey was conducted by ChannelAdvisor, a global e-commerce platform provider that enables retailers to sell more across online channels. The survey included responses from participants throughout North America, Europe and Australia.
With the global economy in a continued weakened state, the company noted that consumer preferences are more important than ever for retailers to take into account as they work to stay profitable during the all-important holiday season and beyond.
Peer-based product reviews are one of the most important factors in the buying decisions of online shoppers, according to the ChannelAdvisor survey. Ninety percent of shoppers around the world who answered the survey said they read product reviews from other shoppers before buying, with 83 percent saying the reviews affect whether they actually purchase an item. In the United States alone, almost half of the respondents (48 percent) said they have posted an online review as well.
“Consumers are increasingly diversifying the places they shop online, which is reflected within this survey and further highlights the need for retailers to expand their reach on every e-commerce channel, including mobile and social,” said Scot Wingo, ChannelAdvisor’s chief executive officer.
“The development of emerging channels within the past year is staggering, supporting our belief that these channels are more than just passing trends. The survey reveals how influential social networks have become, as well as their potential to drive e-commerce moving forward.”
Customer sentiment has increasingly migrated as well to social media sites in the last year, with more than half (53 percent) of those responding to the survey saying that product comments posted to retailers’ Facebook and Twitter pages play a role in their buying decisions.
Increasingly, those retailers are aware of the sites’ growing importance in their efforts, and are seeking to engage potential and existing customers online; the survey indicates their efforts are taking hold. More than one-third of the respondents (34 percent) said they have become “fans” of retailers on Facebook; that number is much higher in the United States, where 46 percent said they have done so.
In addition, 83 percent said they are likely to visit a retailer’s website if it’s been recommended by a Facebook friend.
Other findings from the ChannelAdvisor survey include:
- Google continues as the clear number-one choice globally among online shoppers as a starting point for product searches;
- Purchases made via mobile phone have more than tripled in the past year, to 31% of those responding to the survey (but online shoppers say using tablet computers, like the iPad, is far easier);
- Thirty percent of shoppers worldwide say they are using barcode scanning applications (like eBay’s RedLaser) as an element in their buying decision; and
- “Deal of the day” sites, like Groupon and LivingSocial, have leaped in popularity, with about half of all respondents in the United States saying they use both sites frequently.
A copy of the survey results is available for review at go.channeladvisor.com/US-eBook-2011-Consumer-Survey.html.
Tags: barcode scanning apps, ChannelAdvisor, facebook, Global Consumer Shopping Habits study, Google, Google number one starting point for shoppers, Groupon, LIvingSocial, mobile phone purchases triple, online product reviews, Scot Wingo, social media marketing, twitter
Posted in Carolinas, Facebook, Internet/New Media, Marketing, Mobile, North Carolina, social media, Studies, surveys, reports, Twitter | 1 Comment »
Wednesday, September 21st, 2011
 Screenshot from The Find A review of click-through data by The Find, a mobile search engine and social commerce firm, draws a clear and positive correlation between Facebook Likes and the number of shoppers visiting specific ecommerce sites.
TheFind, which hosts tens of millions of online shopping searches every month, displays product search results alongside the number of Facebook Likes accumulated by individual stores offering those products.
“In the context of shopping, Facebook Likes are widely distributed personal endorsements – quite often from people you know – of the brands, stores and products you are thinking about now,” said Siva Kumar, CEO of TheFind.
“The unmatched scale of Facebook Likes in retail eCommerce already makes them the most important ‘social signal’ in filtering search results, and with the expected launch of more granular open graph buttons, the stage is set for a dramatic shift in the way that shopping search is done.”
Facebook “likes” already important to retailers
Available as a social plugin for little more than a year, Facebook Likes have already become as important to retailers as having specific trust seals on their eCommerce sites. For instance, last year VeriSign reported that display of its seal next to certified stores drove similarly elevated click-throughs for retailers on TheFind.
Today, TheFind reports that display of Facebook Likes has a similarly positive impact for retailers, regardless of their size. According to TheFind, the results of this analysis demonstrate that a retailer’s presence on Facebook influences e-commerce, even if that presence is not enabling transactions on Facebook itself.
“The results of this data were so immediately obvious and compelling that we shifted developer resources to more prominently feature Facebook Like data in our shopping search results,” noted Kumar. “The design concepts we’ve built are currently being tested and shoppers can expect to see significant changes – influenced by social signals – to our search results within the next couple of weeks.”
The data included in TheFind’s analysis covers click through rates for the top 10,000 retail sites – as measured by overall traffic to those sites originating from TheFind – in the July 25-31, 2011 time period.
Likes increased click-throughs up to 8 percent
TheFind categorized the stores by overall traffic into 10 separate tiers in order to compare traffic patterns across similarly sized stores. The final analysis clearly demonstrates that amongst the 10,000 stores studied, regardless of their traffic tier, those with at least 100 Facebook Likes had a 7-8% higher average click through rate than a similarly-sized store that did not have a Facebook fan page (zero Facebook Likes) or fewer than 100 Facebook Likes.
Additional Findings
TheFind’s analysis revealed that only 6.5% of all stores with Facebook fan pages in this study showed fewer than 100 Facebook Likes, however, a whopping 65% of the 10,000 stores in the study had no Facebook fan page at all. Not surprisingly, the larger the store, the more likely they are to have a Facebook fan page and a sizable number of Facebook Likes, far exceeding the 100 threshold.
For example, 60% of the stores in the top-tier of 1,000 stores have Facebook fan pages, but in the second tier of 1,000 stores only 46% had fan pages, dropping even further to just 28% of stores with fan pages in the bottom 1,000.
Further underscoring the point that Facebook Likes are influencing transactions is data from Serena & Lily, a home décor retailer who has seen a triple digit increase in both the number of Facebook Likes they have accumulated in the past eight months and more importantly a similar rise in the amount of money spent by the people who like their store.
Large retailers taking Facebook fan counts seriously
Specifically, Serena & Lily saw their Facebook fan base grow by 193% so far this year, while the dollars spent per fan has also risen by 190%. Also, the retailer notes that visits to their online store by their Facebook fan base have grown over the same period by some 114%.
“We’ve been tracking the top retailers by fan count (tallied by Facebook Likes) over the past six months in our Facebook Commerce Index, and keeping close tabs on what retailers are doing to improve their fan count. In just six months, fan count has increased by 54% across the board, demonstrating that many of the large retailers are taking their Facebook fan counts very seriously,” said Scot Wingo, CEO of ChannelAdvisor.
“The value of Facebook Likes extends beyond just a personal endorsement—it gives retailers the opportunity to market to their fans via Facebook, a free, under-utilized channel. Any retailer that’s not jumping at the opportunity on Facebook should rethink their marketing spend,” he added.
We have seen data that says fan engagement is worth more than the actual number of fans on Facebook, though. See: Brand engagement trumps fan numbrs on Facebook.
Tags: Channel Advisor, Facebook fans, Facebook likes increase click thorugh rates, Faceook helps retailers, mobile search engine, Scot Wingo, social commerce, The Find
Posted in Facebook, Internet/New Media, Marketing, Studies, surveys, reports | Comments Off
Friday, July 15th, 2011
Scot Wingo, CEO, ChannelAdvisor RESEARCH TRIANGLE, NC – Victoria’s Secret has more than 14 million Facebook fans to lead top 25 retailers with Facebook pages, according to the June ChannelAdvisor Facebook Commerce report for June. The sexy lingerie retailer gained 6 percent in June, the report says. Other retailers with hoards of Facebook fans include Adidas Originals in the number 2 spot with more than 10 million fans, and Walmart, up from sixth place to fourth with 7 million plus.
Scot Wingo, CEO of ChannelAdvisor says, “We’re seeing retailers become more savvy and aggressive with promotions on Facebook–many angling to drive traffic back to their website or to brick and mortar stores. Also, retailers are encouraging viral marketing by asking fans to share products they like with friends in order to take part in a promotion or discount. It’s clear that retailers are working to engage fans rather than just collect them.”
The June report notes that the total Facebook fan count jumped from 201 million to 213 million from May to June. Here’s the May report for comparison.
The full report tracks the top 25, top 25 growers and the top 25 percentage growers among retailer Facebook pages.
It includes a brief analysis of how Victoria’s Secret maintains its top position – without mentioning pictures scantily clad women, which we suspect may be helpful.
Walmart is still growing and the report looks at what they’re doing to spur that growth, such as “Always something more than the typical wall posts,” such as surveys and this month, giving away free movie tickets to Cars 2.
ChannelAdvisor is a software as a solution (SaaS) provider that enables retailers to sell more online across multiple channels, all through a single interface.
Tags: ChannelAdvisor, Facebook Commerce Report, retailer Facebook pages ranked by fan numbers, Scot Wingo, Victoria's Secret has most Facebook fans, Walmart gaining Facebook fans
Posted in Facebook, Internet/New Media, IT, Studies, surveys, reports | Comments Off
Wednesday, April 6th, 2011
 DURHAM, NC – ChannelAdvisor’s annual e-commerce conference, Catalyst, is taking place this week at the Washington Duke Inn & Golf Club. Attendance at the sold-out conference hit more than four hundred retailers and industry leaders. The conference theme this year is “Accelerate Your E-Commerce”.
Scot Wingo, CEO of ChannelAdvisor says, “Highlights of this year’s conference includes the latest trends in e-commerce that people want to learn about – topics like cross-channel selling, mobile, social and search.”
In addition to ChannelAdvisor, presenters included representatives from Walgreens.com, Lucky Brand Jeans, Google, eBay, eBags.com, Crocs and Under Armour.
Big announcements from ChannelAdvisor include that they will support the new Sears Marketplace and are launching a new blog focused solely on helping retailers figure out Facebook Commerce: www.facebookcommercestrategies.com
Some of the hot topics at the conference include mobile, tablet and social commerce. Attendees and speakers shared about the constantly changing e-commerce channel options, what’s working now in different channels, emerging online selling opportunities, and how to optimize and measure online marketing and selling. — Ellen Shannon
Tags: ChannelAdvisor, Durham, e-commerce, eBags.com, NC, Scot Wingo, Walgreens.com, Washington Duke Inn
Posted in Carolinas, Events, Facebook, Internet/New Media, Marketing, North Carolina | Comments Off
Wednesday, March 2nd, 2011
 RESEARCH TRIANGLE, NC – ChannelAdvisor, a software and services solution provider that enables online retailers to sell more across e-commerce channels, is bringing a stellar lineup of ecommerce speakers and participants from Google, eBay, Yahoo!, and PayPal, among others, to its annual Catalyst conference networking event April 4-6.
Accelerate Your E-Commerce is thetheme of the conference, which is being held at the Washington Duke Inn & Golf Club in Durham, NC.
We have attended these intimate events and they make it easy for those who attend to connect with top executives from major companies.
“This year’s Catalyst agenda includes our most exciting line-up of keynote speakers and presenters yet,” said Scot Wingo, CEO of ChannelAdvisor.
“We’re thrilled to have Google, eBay, Yahoo!, PayPal, Sears Marketplace and dozens of others on board to anchor this year’s event. Catalyst is an invaluable experience for attendees, bringing together the most contemporary e-commerce visionaries to address the latest technologies and trends. If you’re in online retail today, this event is a must attend.”
Leaders from the following companies are currently slated to participate:
- Google
- Forrester Research
- eBay
- eBags
- Sears Marketplace
- Crocs
- Lucky Brand Jeans
- Plow & Hearth
- PayPal
- Yahoo!
- Buy.com
- Shipworks
- Ingram Micro Logistics
- Cloud Conversion
- Listrak
- eAccountable
For more information see: www.channeladvisor.com/catalyst/us/.
Tags: Catalyst Conference, ChannelAdvisor, Durham, ebay, ecommerce, Google, NC, PayPal, Research Triangle, Scot Wingo, Washington Duke Inn, Yahoo
Posted in Carolinas, Events, Internet/New Media, IT, North Carolina | Comments Off
Tuesday, November 30th, 2010
RESEARCH TRIANGLE PARK, NC – Online store sales grew by a healthy 36 percent among ChannelAdvisor customers, the software and services provider helping retailers sell across e-commerce channels, says.
ChannelAdvisor retailers wrapped up the very active “Cyber 5,” the five days from Thanksgiving to Cyber Monday, with impressive 26 percent same-store sales growth.
“Due to the amount of shopping on Thanksgiving and Black Friday, we initially theorized that the online shopping season was beginning earlier than its traditional Cyber Monday kickoff,” said ChannelAdvisor CEO Scot Wingo. “Upon seeing the full scope of the Cyber 5, however, the distribution of sales across the days is the same as previous years. Cyber Monday is still the strongest day by far, but growth was robust and steady across all five days.”
Cyber Monday Highlights:
- ChannelAdvisor’s customers earned $28.7 million in gross merchandise value (GMV) on Cyber Monday, a ChannelAdvisor record
- ChannelAdvisor processed more than 500,000 transactions on Cyber Monday, which amounts to approximately six transactions per second
Total Marketplaces same-store sales growth was 36.9 percent.
o Amazon same-store sales continued to surge at 98.1 percent growth
o eBay same-store sales grew by 14.6 percent
Tags: ChannelAdvisor, cyber Monday, e-commerce, Scot Wingo
Posted in Carolinas, Internet/New Media, North Carolina | Comments Off
Tuesday, November 2nd, 2010
 RESTON, VA – Online retail spending reached $32.1 billion in the third quarter, up 9 percent from a year ago, according to digital measurement firm comScore. This growth rate represented the fourth consecutive quarter of positive year-over-year growth following a year of flat or negative growth rates.
“Retail e-commerce growth in the third quarter remained solid at 9 percent, a fairly positive indicator for the upcoming holiday season,” said comScore chairman.
Other highlights from Q3 2010 include:
- The top-performing online product categories were Books & Magazines (excl. digital downloads), Computers/Peripherals/PDAs, Computer Software (excl. PC Games) and Consumer Electronics, indicating a higher willingness of consumers to spend on in-home entertainment.
- The top 25 online retailers accounted for 70 percent of dollars spent online, up 5.5 percentage points vs. year ago. Online “pureplay” retailers accounted for 58 percent of dollars spent online compared to 42 percent among multichannel retailers, unchanged vs. year ago.
- 41 percent of online retail transactions included free shipping, down marginally from last year.
“However, we continue to preach caution due to the continuation of high unemployment, which is creating very divergent spending patterns between the ‘haves’ and the ‘have nots.’ Even Americans who do have jobs still aren’t confident enough to spend freely and many are still pained by their loss of wealth since the financial crisis struck in 2008.
“That and a higher consumer savings rate leaves less money for spending. Until the economy begins adding jobs at a meaningful rate, the lack of spending power among consumers will continue to be a drag on purchasing, with many consumers indicating their intention to cut back on gift buying this holiday season.”
Other highlights from Q3 2010 include:
- The top-performing online product categories were Books & Magazines (excl. digital downloads), Computers/Peripherals/PDAs, Computer Software (excl. PC Games) and Consumer Electronics, indicating a higher willingness of consumers to spend on in-home entertainment.
- The top 25 online retailers accounted for 70 percent of dollars spent online, up 5.5 percentage points vs. year ago. Online “pureplay” retailers accounted for 58 percent of dollars spent online compared to 42 percent among multichannel retailers, unchanged vs. year ago.
- 41 percent of online retail transactions included free shipping, down marginally from last year.
Several participants at Tech Media’s upcoming Internet Summit in Raleigh, NC, Nov. 17-18 will be addressing the e-commerce space, including Channel Advisor CEO Scot Wingo.
Tags: comScore, Gian Fulgoni, Internet Summit, Q3 2010 online spending up 9 percent, Scot Wingo
Posted in Carolinas, Events, Internet/New Media, North Carolina, Potomac, Virginia | Comments Off
Wednesday, October 6th, 2010
Scot Wingo, CEO, ChannelAdvisor By Allan Maurer
RESEARCH TRIANGLE, NC – Mobile e-commerce is surely coming, but right now it’s “Mostly sizzle and no steak,” says ChannelAdvisor founder and CEO Scot Wingo. In a interview discussing e-c0mmerce trends and entrepreneurship, Wingo said, “There is a lot of interest in social and mobile that hasn’t spilled over to ecommerce yet, but it will.”
Wingo, who founded ChannelAdvisor nine and half years ago, says he hears a lot of interesting thinking and sees experimentation around Twitter and Ipad and other newer players in the digital field, but doesn’t see social and mobile driving a material amount of sales yet.
ChannelAdvisor will be ready when it does. It launched a mobile web store app late in the summer as part of its premium offering, which helps retailers easily launch mobile stores for all cell phones.
ChannelAdvisor, which provides enables retailers to submit one inventory feed to ChannelAdvisor’s platform where it is translated and optimized to fit the specifications of online channels and distributed accordingly, does see ecommerce picking up.
Holiday season looking good
“It slowed to single digit growth or even was negative at the height of the recession, late 2008 and 2009,” says Wingo. “But in the first quarter of 2010 it came back up to 10 percent growth, then to 15 percent in the second quarter and it looks like high teens or 20 percent in this quarter. That more aggressive growth pattern bodes well for the holiday season.”
Wingo notes that the company is seeing a lot of interesting new ideas and trends. They include local deals, deals of the day, and services such as Groupon. “Flash sales are big and we’re seeing subscription models applied to ecommerce.” He calls that the “Netflixzation of ecommerce.”
That’s especially prevalent for replenishable items such as diapers, which a company such as Diapers.com addresses, which will let a customer set up automatic delivery.
Also, he says, “Everyone keeps pushing for low price or free shipping.”
Wingo, who is one of dozens of Internet experts, executives, entrepreneurs and venture capitalists participating in the third Internet Summit in Raleigh, NC, Nov. 17-18, will address these trends and also talk about entrepreneurship at the event.
Wingo says the barrier to entry into the ecommerce field is much lower than it was when he started ChannelAdvisor nearly a decade ago. The company has raised about $85 million in venture backing.
Advises entrepreneurs
Things such as cloud computing and software as a service have made it much easier for entrepreneurs with a passion to get up and running. “Ten years ago we needed to buy servers and such. If we started now we probably wouldn’t need to raise $85 million,” he says.
ChannelAdvisor itself deals with numerous entrepreneurs, many of whom bring a passion and knowledge about a product to the table when they launch online. As examples, he cites a model train buff who started Trainz.com and a woman who started a beaded jewelry site.
Both found gaps in the online marketplace, saw a need and filled it, the classic formula for business success, he says.
Wingo has actively assisted other entrepreneurs for much of his career and participates in Southern Capitol Ventures Calling All Entrepreneurs events that allow people with ideas for startups to come in and pitch. We hear he offers sound critical advice.
Even at ChannelAdvisor, as the name implies, advice is part of the company equation, he says. “We’re about 80 percent software, 20 percent advice,” he says. At one of the company’s events for its clients earlier this year, several of its customers told us they relied on both.
Tags: ChannelAdvisor, ecommerce, Internet Summit 2010, mobile ecommerce, NC, Research Triangle, Scot Wingo, twitter
Posted in Carolinas, Events, Internet/New Media, IT, North Carolina | Comments Off
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