Live Blogging from 2013 Catalyst Americas: Scot Wingo Keynote (Part I)
Welcome to the live blog for ChannelAdvisor. We’ll be live blogging the general sessions at Catalyst to make sure attendees don’t miss anything. Also, make sure you’re following hashtag #CatalystAmericas and @ChannelAdvisor on Twitter for all of the latest.
Speaker: Scot Wingo
Title: The State of E-Commerce
Welcome 1,000 retailers and sponsors! Thanks!
Where are we in the e-commerce adoption cycle?
2004--only 4% of retail sales were online, more than doubled by 2012 to 10% (comScore). Only the beginning...15% in the UK, 20% in S. Korea. Forrester predicts 15% CAGR over the next 4 years.
By 2016, we'll hit a TRILLION dollars in e-commerce (eMarketer).
We think it's Conservative. Why? 4 Waves.
Waves--retailers often feel like they are caught on waves of e-commerce; we're helping retailers get on top of waves.
Wave #1: Amazon Effect
Amazon growing at 25%, compared with 15% for e-commerce as a whole.
Amazon Financial are preplexing to Wall St. Why? Growth rate is coming down. Well above e-commerce and overall retail sales. Profits are shooting up. Why? Third-party marketplace. (3PM)
Amazon has lowered its costs, so its profits are increasing. Kindle, fulfillment centers, China, Prime all being funded by 3PM.
A genius model--other 3PMs are following suit. (Newegg, Taobao, Groupon, Facebook, Best Buy, etc.)
ToolKing Video: Ben Skigen
15 percent of sales occur on Marketplaces now. Was initally worried that they'd be competing with themselves, but now they have 7 to 10 different opportunities to win a sale from someone with all of their marketplaces.
Ben Skigen joins Scot on stage.
"Any sale is better than no sale." Ben Skigen.
ToolKing getting in to more categories due to their success--way more than just tools now.
They've had great luck with eBay Global Shipping program.
To be continued.....
Reminder for the Catalyst America’s social presence:
- Follow @ChannelAdvisor on Twitter as we’ll be tweeting out updates, reminders about sessions, networking events and more
- Tag your social posts, Instagram pics with our show hashtag: #CatalystAmericas
- Keep tabs on discussions, networking opportunities and more on the Pathable community at https://catalystamericas2013.pathable.com/
- Keep an eye on the eBay Strategies blog where we’ll be live blogging the Keynotes and Main Sessions at Catalyst