Poland, a promising ecommerce market - report

Tuesday, 25th February 2014

Dotcom Riverhas recently announced a three-year span report called the eCommerce Poland 2013 Report covering the years 2011 through 2013. Its main focus is to reflect an objective standpoint for Polands ecommerce business potential.

"The report highlights salient market factors which influence industry-based investors, such as the annual increase in the number of customers who shop online reported to the population of the country. The report also signals that the ecommerce market rose to 30% in 2012, as compared to 2011, a notable increase and luring for foreign investors and online retailers."

"According to the report, at a European level, the Polish ecommerce market stays in between extremes with a percentage of population buying online between 30% and 50%, which means that Poland is a rapidly developing ecommerce market, along with Ireland, Austria or The Czech Republic. Poland stays between Germany, UK, France, Norway or Sweden whose percentage of online shoppers passes well beyond 50% and Spain and Italy whose percentage of online shoppers drops under the 30% barrier."

"The Polish ecommerce market is currently estimated at EUR 6.5 billion, consistent with its growth of over 20 percent year-over-year."

"The growing popularity of online shopping, including mobile transactions, wider access to broadband internet, dissemination of courier services and non-cash payments, as well as personalization of offers and a higher attention to quality of service are some of the dominant factors contributing to the fast development of ecommerce in Poland. For 2013, there is a 68% penetration rate of Polish internet users, among whom 48% online buyers."

"The present Executive Summary Report sums up a three-year span comprehensive study, appealing to 14,000 Polish e-retailers and e-consumers. "

Bitcoin's PTP anonymous digital currency raises Israelis' eyebrows

Monday, 24th February 2014

According to this,Israeli authorities have announced the citizens that the use ofBitcoins digital currency may pose threats and that regulations are under proposal for implementation in the local market.

"Israel's central bank governor, Karnit Flug, has held a meeting with regulators of the capital and insurance markets, Tax Authority, and the Israel Money Laundering and Terror Financing Prohibition Authority. Analyses are performed for the issuing of solutions related to the use of, and trade in, virtual currencies. Analysis is focused on unpredicted macro effects, their legal standing, their regulation, money laundering and terror financing risks, taxation, and consumer protection."

"Bitcoin, a decentralised open source electronic money network, uses cryptography to secure transactions by means of peer-to- peer (PTP) networks and the use of anonymous transfers and does not require centralized financial institutions. In 2013, Bitcoin`s exchange rates jumped by 700% in the first quarter, reaching over USD 1,200 by the end of the year."

Boosting Sales Conversion with Cart Abandon Emails - Infographic

Monday, 24th February 2014

[caption id="" align="alignnone" width="600"] Source Cloud-iq[/caption]

4 Big Ways Big Data Will Transform Ecommerce

Sunday, 23rd February 2014

GetElastic published article about how big data will transform ecommerce.

"Ecommerce is on the verge of a big shift driven by big data and intelligent technologies.This shift is towards a more efficient, personalized, evenautomatedcustomer journey. Emerging personalization tools are designed to mimic the brain, leveraging neural networks and deep learning.Netflix is already movingin this direction, and its known Google, Facebook, Amazon, Yahoo and others are also embracing these technologies through startup acquisitions and key hires."

"Inspired by the central nervous system,Artificial Neural Networks(ANNs) are computational models capable of machine learning and pattern recognition.Deep learningneural networks have more layers of abstraction than ANNs and have the ability to train neural networks to do some pretty incredible things like image recognition, natural language processing, language translation and automatic speech recognition."

"Back in 2008, Get Elastic featuredPluribo, a Firefox extension with natural language processing and sentiment analysis capabilities. One useful application was filtering down hundreds of Amazon reviews into a summary of pros and cons.Unfortunately, Pluribo fell victim to the financial crisis of 2009 and lack of VC funding.The concept, however, has huge implications for guided selling, alone or in combination with other deep learning tech."

"An ecommerce system with aHer-like artificial intelligence could receive a voice query:Im looking for a full-frame camera with long battery life, compatible with Mac OSXand not only deliver personalized results, but can also ask further probing questions that the customer hasnt thought about. For example, what types of subjects do you typically shoot? or how important is size and weight to you?"

"Its not far off before computers will also recognize emotional signals like excitement, indecisiveness or frustration through voice or facial expression. Theres a currentIndiegogo campaignthat aims to build the first emotionally intelligent home console that understands conversation, mood and can react to these emotions with conversation. While an emotionally intelligent ecommerce application is dialoging with a customer, it can also tap into an aggregate of behavioral and sentiment data to suggest the most likely relevant alternatives and help the customer arrive at a confident purchase decision."

"Google is working ongiving computers the ability see. Its already built a tool that can recognize human faces, body parts andcatsthe most common contents of Youtube stills and Google Hangouts.The ability to search for matching products based on Google Glass snapshots, pictures on the Net or other images offers a new way to search and discover products. Glass may play the role in identifying your eye fixation, further giving the machine context of what in the field of view youre interested in."

"Pinterest recently pinned downand acquired a visual search technology to make searching for photos in context much easier. Rather than depending on user keyword tagging, visual search will identify images that match a word or other images (e.g. similar to pins youve already made).Imagine the implications for an ecommerce store. Via the Pinterest API, an ecommerce application with visual search functionality could look at a board or collection of boards and profile a customers tastes and intent. Or, a customer could upload a photo of anything (taken from a smartphone, Google Glass or found online) and match it against a product catalog.Ecommerce marketers that curate Pinterest boards could automate the process and discover far more than a human could with just keyword search and good luck."

"The popular audio-recognition app Shazam now has an always-on feature that listens for audio all day long, tags songs that dont exist in your library, and makes them available for your perusal, saving you the hassle of unlocking your phone, loading the app and nearly causing an accident in your car (or whatever your context).Imagine with machine learning, Shazam and products like it could intelligently filter your auto-tags to what youd most likely be interested in based on your existing library. And further than that, with deep neural networks, be able to decide which to go ahead andaddto your library, even making a purchase on your behalf."

"Sound crazy? Amazon recently filed a patent for anticipatory shipping, whichshipsand order before its even placed. Amazons wealth of order history, search, wish list and click stream data may one day be leveraged this way.While at the moment, its just a patent, and we can foresee all kinds of snafus that can arise from making decisions on behalf of (and charging) customers, its not unreasonable to envision a day when menial tasks like purchasing groceries, sundries and gifts can be outsourced to an efficient, intelligent machine."

"Its not about Big Data, its about smart data.

Cross-border CNY payment available through FTZ

Sunday, 23rd February 2014

According to this,Shanghai Head Office of the People's Bank of China (PBC), the country's central bank, has made available the CNY cross-border payment in the newly established Shanghai free trade zone (FTZ) so that people may purchase items from online shops overseas.

"PBCs Head Office in Shanghai has stated that Allinpay, 99Bill, China Pay, Dongfang Electronics and Shengpay are now allowed to process cross-border payments in the Chinese currency for cross-border trade in the China (Shanghai) Pilot Free Trade Zone."

"Based on the service, the five payment firms will open a cross-border CNY account at the Shanghai branches of Industrial and Commercial Bank of China, Bank of China, China Construction Bank, China Merchants Bank and China Minsheng Bank to park provisions for cross-border CNY payment. The service requires no currency exchange procedure, and makes online shopping possible from offshore websites for regular Chinese shoppers, according to Chinese media reports."

"By taking into account the central bank's guidelines, companies that have online payment service licenses and are either incorporated in Shanghai or run subsidiaries in the free trade zone are eligible to provide CNY settlement for cross-border commerce of products and services."

"The Shanghai FTZ was launched in September 2013 to transform the CNY into an international currency and hence, providing financial liberalization."

"Speaking in numbers, CNYs market share in the traditional financial trade grew to 8.66 percent in October 2013 from 1.89 percent in January 2012, according to the global transaction services organization SWIFT. CNY only ranks behind the USD which remains the leading currency with a share of 81%. EUR has retreated to third place with a market share of 6.64 percent in October 2013."

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