Online sales climbed 24% year over year, while Best Buy’s overall sales were flat.
With new kinds of online content, sources of online traffic and social media connections, the world of comparison shopping engines is not what it used to be, says Scot Wingo, CEO of ChannelAdvisor Corp., which helps online retailers sell through online marketplaces and comparison shopping sites.
“I’m anticipating more changes in comparative shopping engines this year than we’ve seen in the past five years combined,” says Wingo, who will address developments and opportunities in retail e-marketplaces in a session entitled Putting the changes at comparison shopping sites to work for you..
Wingo will join Peter Cobb, senior vice president of marketing at web-only retailer eBags.com, in offering advice on how retailers can take advantage of the consumer shopping activity being generated on comparative shopping engines to generate sales and build customer relationships.
“I’ll talk about how online shoppers are being influenced by comparison shopping engines, and what this means for retailers,” Wingo says. “I’ll also give retailers advice about which comparison shopping engines they can’t afford to ignore, and share supportive data about the levels of consumer traffic each comparison shopping engine is receiving.”
Cobb will speak about how eBags has developed successful strategies for selling through comparative shopping engines, and give a detailed case study of how the web merchant has carried out these strategies to increase sales through e-marketplaces. “We’ll provide some best practices that IRCE attendees can take home and take advantage of immediately,” Cobb says.
Wingo will also go into detail about the evolution of comparative shopping engines. “Within the landscape of comparison shopping engines, there is a new group of second-generation comparison shopping engines—or comparison shopping engine 2.0, as I call it,” Wingo says. “They have innovative traffic sources, content, business models and social media tie-ins.”
In addition, he says, the e-marketplace environment is also going through major changes with the consolidation of PriceGrabber and Yahoo and developments planned by what Wingo refers to as “the incumbent CSE 1.0 engines.”
Why the editors asked Scot Wingo to speak:
Scot Wingo is a leading expert on online marketplaces and a seasoned speaker at IRCE and other events. He heads up ChannelAdvisor, which provides retailers and manufacturers with software and services to sell online.