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BizReport : Ecommerce archives : December 14, 2016

Ecommerce Roundup: Retailers, customers showing confidence

New data out from Lendio indicates small retailers are bullish on the holiday season. And Connexity has identified some hot products for the consumer sector. Details in today's ecommerce roundup.

by Kristina Knight

First, Lendio's research research found most (87%) of SMB retailers are confident about the overall holiday season, with about half (56%) saying they are looking at additional funding to build inventory through the season. Just over one-quarter say they would consider looking into funding to increase their ad budgets.

"The holiday rush can be a stressful time for small business retailers, whether it's staffing issues, lack of capital, inventory, opening another location, boosting advertising or insufficient personal time," said Brock Blake, founder and CEO of Lendio. "It's inspiring that so many business owners are confident in their ability to repay financing. This time of year especially, we can all do our part to support the retailers who operate in and contribute to our local communities."

Small retailers are confident for a reason - there have been more than 10 billion dollar spending days so far this season, with overall digital commerce seeing an uptick of about 14% so far for the season.

As to what shoppers are buying this year, Hitwise, a division of Connexity, points to hot electronic toys like Hatchimals as leading the pack, along with IoT health gadgets like Fitbit. Through Cyber Week, researchers found Yankee Candle increased their share of the retail space, with Nintendo's 3DS fell in share. More people are searching for Google's Pixel and Home products, and teens are looking at gadgets like Apple TV and Amazon's Echo Dot.

"Hot products, by nature, generally enjoy popularity across wide swaths of the population. However, understanding the specific products that are darlings of your target audience can help ensure you continue to develop engaging and relevant product offerings. Using our AudienceView platform, we looked at hot product searches this week for a number of common audiences to better understand what items they're likely to be searching for online," said John Fetto, senior analyst Hitwise, a division of Connexity. "Hatchimals and Fitbit are the top searches for affluent adults (those with annual household income of $250,000 and above), but these pricier items (assuming you can even find one in stock) are about 30% more popular among this set. Affluent Americans are also more than 50% more likely to be searching for Bose and Amazon Echo--a fact that suggests they'll be doing a lot of their holiday shopping on Amazon."

Tags: 2016 holiday spending, Connexity, ecommerce, ecommerce trends, Hitwise, Lendio

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