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New Study: 34% of Traffic and 28% of Orders for Large Online Fashion Retail Brands Come Directly from Search and Social

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34% of traffic, 28% of orders and 26% of the total order value for large online fashion retailers comes directly from search and social sites including Google and Facebook, new global research suggests. Of all traffic arriving directly from paid social, 80% is from Facebook and Instagram.

And the data suggests mobile phones dominate: 76% of all traffic, 64% of all orders and 59% of the total order value for large enterprise fashion ecommerce brands comes from smartphones.

The study by Nosto, the ecommerce personalisation and retail AI platform analysed 1.19 billion visits to ecommerce sites globally during the busiest three months of the retail calendar (Dec 2018 to Jan 2019). 24% of visits were to enterprise fashion sites with annual sales of $50m or more). The research tracked all traffic sources based on the ‘last click’ (where a visitor was prior to landing onto an ecommerce site).

The Impact of Paid and Organic Search and Social Media on Fashion Ecommerce

Paid Search

Organic Search

Paid Social

Organic Social

Total : Search + Social

Traffic

6%

19%

1%

8%

34%

Orders

5%

18%

Below 1%

5%

28%

Order value

6%

16%

Below 1%

4%

26%

While organic and paid social appear to generate 9% of all traffic to enterprise fashion ecommerce based on the last click model, the full impact of social is likely to be significantly greater, according to Jim Lofgren, CEO of Nosto:

“Social sites such as Facebook and Instagram are important destinations for branding and product discovery, especially in the fashion space. You can’t judge their full power only by looking at the last click from either paid or unpaid sources that are driving visitors to merchants’ stores. Instagram in particular is an extremely popular platform on which shoppers follow fashion influencers to learn about new styles and brands, but that higher-funnel discovery process won’t show up in ecommerce marketers’ website analytics data.

“The modern ecommerce fashion shopping journey is highly complex, and more often than not the shopper finally arrives at a retailer’s site by heading there directly or via Google search. This continues to pose challenges for ecommerce brands trying to evaluate the ROI of their marketing spend.”

Nosto’s examination of the direct impact of social media on enterprise fashion ecommerce reveals that of the four main social networks (Facebook, Instagram, Pinterest and Snapchat) Facebook and Instagram are the biggest drivers of traffic and orders from paid and organic social.

Within paid social, Facebook accounts for 73% of all traffic, 89% of all orders and 86% of the total order value. In organic social, Facebook represents 53% of traffic, 59% of orders and 56% of the total order value.

Instagram generates 41% of all organic social traffic, 41% of all organic orders and 43% of the total organic social order value. On the paid social side, Instagram generates 16% of all traffic, 10% of all orders and 14% of the total order value.

Of the other social networks, both Snapchat and Pinterest account for 3% each of direct organic social traffic. However orders resulting directly from organic Pinterest and Snapchat activity based on the last click are negligible. In paid social Snapchat drives 10% of traffic and 1% of orders, implying a stronger branding and awareness value currently.

Aside from search and social, the study reveals visits and transactions for enterprise fashion ecommerce sites are either generated by direct traffic (when shoppers directly type the ecommerce site’s web address into their phones and computers); from sources such as marketing emails, ad networks and affiliate sites; or from dark social (mostly from people sharing links to the ecommerce sites in emails, text messages and messaging apps).

Nosto’s fashion retail customers include Gymshark, Agent Provocateur, Aquascutum, Everlast, Helly Hansen and Volcom.

More insights from the study, including charts are included in a blog post on the Nosto website at:

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Hyperledger-based token Metacoin to list on its first global cryptocurrency exchange, Liquid

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Global cryptocurrency platform Liquid.com (“Liquid”) will be listing Metacoin (MTC), the world’s first Hyperledger-based token, for secondary trading.

Metacoin is a project focused on expanding the blockchain ecosystem by solving fundamental issues that the traditional cryptocurrency has yet to overcome such as scalability and security. Released as a mainnet platform in 2018 as the first commercialised mainnet based on the Linux Foundation’s Hyperledger Fabric, Metacoin currently boasts several key projects such as:

Several notable Dapps are also currently being built on the Metacoin platform such as:

  • Play bits (https://playbits.io/), a powerful blockchain gaming platform,
  • Coldbank (https://www.coldbank.io), a custodian service that aims to provide a high level of security on IBM’s LinuxONE
  • Autosdaq (https://autosdaq.com/) an exchange that seeks to create an ecosystem where mobility-related products and services can be used with cryptocurrency.

Jay Baek, V.P. of INBLOCK said, “We’re excited about the listing of Metacoin on Liquid. As one of the largest, most secure and reputable exchanges globally, Liquid will offer best-in-class security to anyone looking to trade and hold MTC. More importantly, being listed on a major exchange is aligned with our mission of creating new value through collaborations with other companies and business support.”

Metacoin aims to solve two fundamental issues in blockchain technology — scalability and security — by implementing its node into LinuxONE. By doing so, Metacoin is not only able to further secure and protect users’ data but handle millions of transactions per second in a safe and secure manner.

“We are delighted to be the first global cryptocurrency exchange to add Metacoin to our offering of digital assets on Liquid, and also be the first exchange to be able to support projects built on Hyperledger,” said Mike Kayamori, CEO and co-founder of Liquid. “The ability to support Hyperledger-based projects is certainly an important step towards our mission of providing liquidity to the crypto economy.”

Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. Hosted by the Linux Foundation, it is a global collaboration that includes leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology. Hyperledger Fabric currently supports distributed ledger solutions for a wide range of industries and maximises the confidentiality, resilience and flexibility of blockchain solutions through its modular architecture.

To celebrate the listing of Metacoin on Liquid, the Liquid and Metacoin teams have decided to provide a 1% bonus for anyone who deposits more than 1,000 MTC and a 3% bonus for anyone who deposits more than 30,000 MTC on Liquid. Liquid and Metacoin will also host a Trading Competition that rewards 1,000 MTC to the top 100 users in trading volume at the end of the campaign. More details will be shared soon. For the latest updates, follow Liquid on Twitter at @liquid_global

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Inaugural SFF x SWITCH sees over 60,000 participants from 140 countries; event to return on 9-13 November 2020

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The Singapore FinTech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH) concluded its combined week-long event on 15 November 2019, which attracted more than 60,000 participants from 140 countries. The event also saw a record 569 speakers, close to 1,000 exhibitors[1] and 41 international pavilions.

SFF x SWITCH will return next year from 9 to 13 November 2020. It will build on the energy, ideas and partnerships established this year, to further strengthen the ecosystem for FinTech and deep tech in Singapore and the region.

Key Announcements

In line with the theme of Sustainability and Climate Change, Minister Ong Ye Kung unveiled the Monetary Authority of Singapore (MAS)’s green finance action plan to strengthen green financing capabilities in Singapore and announced the launch of a US$2 billion Green Investments Programme, among other initiatives under the action plan.

DPM Heng Swee Keat unveiled Singapore’s National Artificial Intelligence (AI) Strategy in his keynote speech, and highlighted a new framework, Veritas, introduced by MAS to promote the responsible adoption of AI in the financial sector. He also announced the expansion of the Global Innovation Alliance (GIA) network to include London, and the launch of the Open Innovation Network (OIN)[2] by Enterprise Singapore and Infocomm Media Development Authority (IMDA) to promote open innovation across sectors.

International Cooperation

Under the GIA, Enterprise Singapore signed a Memorandum of Understanding (MOU) with UK-based accelerator IoT Tribe, to facilitate two-way innovation and business partnerships.

It also inked MOUs with three new partners — DayDayUp (Beijing), Plug and Play Asia Pacific (Jakarta) and Leave a Nest (Tokyo) — to run GIA programmes in their respective markets.

MAS and the Bank for International Settlements (BIS) jointly launched the BIS Innovation Hub Centre in Singapore, to foster innovation and greater collaboration among the central banking community globally. The opening of the BIS Innovation Hub Centre in Singapore marks BIS’ first expansion of its global footprint in 17 years.

MAS also established partnerships with financial authorities in Canada and France, to strengthen cooperation in FinTech[3] and cybersecurity respectively, and welcomed Banque de France (BDF)’s opening of an overseas office in Singapore in early 2020.

Industry Partnerships

SFF x SWITCH 2019 saw new partnerships as well as progress in ongoing initiatives with the industry.

  • Project Ubin[4] Phase 5, a collaboration among MAS, the financial industry, and the blockchain ecosystem, saw the successful development of a blockchain-based prototype that enables payments to be carried out in different currencies on the same network.
  • Business sans Borders (BSB)[5], which was launched by MAS and IMDA in 2018, has successfully completed its Phase One Proof of Concept and will proceed with the Phase Two Pilot in 1H 2020.
  • MAS, Deloitte and S&P Global Market Intelligence have jointly developed a prototype for an industry-wide FinTech Research Platform to help investors and financial institutions connect with FinTech start-ups that they can partner with or invest in.
  • Enterprise Singapore launched the inaugural Sustainability Open Innovation Challenge in partnership with corporates and government agencies to tackle problem statements spanning sustainability themes in resource efficiency, zero waste, green transport and sustainable built environment.
  • As part of efforts towards sustainable growth, the National Research Foundation launched the Singapore Battery Consortium to support industry-academia collaboration in cutting-edge battery technologies, bringing companies and researchers together to develop better battery products that serve market needs.

2019 Event Highlights

SFF x SWITCH celebrated the winning solutions of the Global FinTech HackceleratorFinTech Awards[6] and SLINGSHOT 2019[7] respectively. Following vibrant demo and pitching sessions where FinTech and tech startups presented their solutions to industry panels of judges, three winners emerged from the Global FinTech Hackcelerator, while there were 12 winners each from the FinTech Awards and SLINGSHOT 2019.

SFF x SWITCH concluded the week with the Innovation Lab Crawl and Industry Events (14-15  November), which saw over 20,000 visitors across over 50 innovation labs and more than 30 workshops and networking events held around Singapore. The SFF x SWITCH organising team thanks all our partners and attendees for making this year’s event a big success. We look forward to continued collaboration with the industry to bring about an even more exciting and impactful event next year.

 

SOURCE Monetary Authority of Singapore

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Experian brings world-class technology conference to Singapore with inaugural VISION2020 Asia Pacific

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Experian, the world leader in information services, announced today that the inaugural Asia Pacific edition of its signature Vision Conference will be coming to Singapore next year. VISION2020 Asia Pacific (APAC) will be held at the Ritz Carlton Hotel in Singapore on 5th and 6th February 2020.

For the past 38 years, Experian’s Vision conference in North America has been connecting business leaders to innovative ideas and solutions to help them target new markets, grow their customer bases, and reduce fraud. The event has also hosted world-renowned keynote speakers including Apple’s co-founder, Steve Wozniak, former US president, Bill Clinton, and five-time NBA champion, Kobe Bryant.

Next year, under the theme “Future favours the BOLD – Innovating for tomorrow”, VISION2020 APAC is where leading minds from the banking and fintech industries will converge to examine how companies can navigate the next phase of digital finance and build a BOLD future powered by data, technology, and analytics.

A thought leadership platform dedicated to the most salient business developments, VISION2020 APAC will shine a spotlight on major shifts that are reshaping the region and the significant growth opportunity that lies with the application of data assets today, to enable the provision of better services. Curated sessions on topics such as Fraud and Open Banking — two of the six conference themes — will help business executives gain a better understanding of the new banking paradigm that is ushering in the next phase of consumer finance in Asia Pacific.

The conference will also feature a dedicated space for technology showcase, where attendees can discover the latest solutions from Experian’s X Labs innovation hub. Built to address customer pain points, X Labs is home to some of Experian’s most cutting-edge technologies for Open Banking, Agriculture, Alternative Data Scoring, Predictive Analytics, and more.

Ben Elliott, Chief Executive Officer, Experian Asia Pacific, said: “We are delighted to bring our flagship conference to Asia Pacific, a fast-growing market with access to an amount of data unrivalled in size. VISION2020 APAC will catalyse important conversations around the unprecedented business opportunities offered by the data economy through sessions on Open Data, Autonomous Analytics, and Alternative Data. We look forward to inspiring our customers, partners, and industry luminaries to take on a bold approach as we navigate through these exciting times together as a region.”

Attendees can expect unparalleled networking potential and learning opportunities with a two-day programme featuring expert presentations, technical workshops, innovation showcases, and panel discussions led by the top minds of the industry.

The speaker line-up features some 50 industry experts and leaders including senior representatives from ANZ Bank, Boston Consulting Group, IDC Financial Insights, Open Bank, WeLab and many more. Notable thought leaders such as Alex Manson, Global Head, SC Ventures; Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of SingaporeSteve Leonard, Founding CEO of SG Innovate; and Malcolm Rodrigues, CEO & co-founder, MyRepublic, will also be speaking at the event.

Sharing the stage with the distinguished guest speakers is Experian’s team of senior global executives including Brian Cassin, Group CEO; Ben Elliott, CEO, Asia PacificAlex Lintner, Group President, Consumer Information Services; and David Britton, Vice President, Industry Solutions, Global Fraud and Identity.

In addition, attendees will also hear from guest speakers including Lewis Hamilton, five-time Formula One world champion, and Sachin Tendulkar, former international cricketer considered as one of the greatest batsmen in sport’s history.

Visit the official VISION2020 APAC website for the latest updates on the conference and use the hashtag #ExperianVision2020APAC to join the conversation on LinkedIn. Register by 30 November to enjoy early-bird rates at USD1,295. This conference is also supported by the Singapore Exhibition & Convention Bureau, a part of Singapore Tourism Board.

 

SOURCE Experian

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