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As the 2016 year comes barreling towards us, it’s essential to look back at what you’e done with your business in order to establish a plan for the unexpected ahead. Even evaluating your entire ecommerce system is a wise choice, considering companies change, prices go up and offerings are not always what they once were.
Yes, the new year is a time for reevaluation, and the ecommerce world is no stranger to that. Therefore, keep reading to learn about the ten most interesting ecommerce trends for 2016 and beyond....
Coupons are quickly growing as a significant component of beacon-enabled proximity marketing thanks to strong redemption rates, with brands and retailers forecast to deliver 1.6 billion coupons a year by 2020, according to a new report from Juniper Research.
The results point to how proximity marketing is gaining traction as retailers look to engage more deeply with consumers in and around their stores, prompting the volume of beacon-enabled coupons to grow quickly from the 11 million expected to be delivered in 2015. However, the research also underscores the potential danger of turning beacons into nothing more than another offer channel, which is likely to cause shoppers to lose interest....
User reviews are a proven sales driver, a survey has revealed, so what are people really searching for and what decisions does this lead to?
Well, this infographic from PeopleClaim explains exactly how user reviews affect consumers’ decision-making when buying a product.
This infographic shows: - If an issue is handled quickly, 95% of customers will return - 70% consult reviews before purchase - Reviews drive higher loyalty and purchase satisfaction....
Accenture conducted an online survey of over 4,500 consumers in October 2015 across the United States, Canada and China. Overall, consumers are showing an increase in their spending expectations this holiday season, with 40 percent of US consumers planning to spend more on holiday shopping although they are still enticed by a good deal.
Sparked by ongoing optimism around consumers’ personal financial situations across each of the five markets, consumers remain enthusiastic about Holiday Shopping–both in-store and online, although the majority of shoppers would prefer the online option over physical stores where a retailer sells their product using both channels.
And despite increased instances of cybersecurity breaches across multiple industries in recent times, consumers are increasingly open to sharing personal information with retailers in order to receive personalized offers. Privacy and security concerns are the number one reason in all markets for consumers when shopping on a mobile phone, smartphone or tablet....
The world’s most prestigious startup accelerator Y Combinator published a guide to founding companies called The Startup Playbook. Here are the top tips from YC’s president Sam Altman, accompanied by illustrations from Gregory Koberger.
This holiday is poised to be the first mobile-dominant season for retailers and marketers need to be ready.
A growing number of Americans are turning to their smartphones and tablets as their primary device for accessing the Internet. In fact, one-third of all U.S. adults (33.7 percent) say they access the Internet more often through a mobile device than through a computer, up from 24 percent in 2013. Furthermore, Millennials are the first generation to be mobile dominant, with 53 percent of consumers aged 18 to 34 reporting that they use their phone more often than a computer to go online.
Considering that trend, it’s no surprise that when pulling data for our Holiday Hot Sheet series, we found that 35 percent of all Website visits came from smartphones or digital tablets during the week ending October 17, 2015. Shopping and Classified Websites, however, received an even greater share of visits from mobile devices that week, 44 percent to be exact. And some shopping sub-industries got a majority of traffic from mobile. Those included: Intimate Apparel and Accessories, which currently gets 55 percent of visits from mobile, Baby Products (55 percent), Health and Beauty (54 percent) and Ticketing (51 percent)....
Beacons are excellent tools for creating location-based and real-time mobile experiences. Some big businesses are experimenting with using beacons to deliver localized, timely, and relevant information and marketing offers, including Facebook, Target, and the London Underground.
When they work, it’s magic — but sometimes that’s easier said than done.
Through our own research and conversations we’ve had with companies that have tried beacons before, we’ve identified a number of problems companies run into when they decide to give beacons a try....
In an interview with Adweek after his Advertising Week panel entitled "The Millennial Mirage" in New York last week, Blunden said research suggests a high ratio of those in the 18-35 age range aren't the lazy, narcissistic, entitled, apathetic parental leeches they're often described as. Rather they're often active, interested and entrepreneurial.
Blunden calls this subset "Gen-Narrators"—a cohort of influencers who both are sophisticated media consumers whose reach is coveted by not only media companies but also brands.
"They curate, they consume and they create. And that's what makes them influencers," Blunden said. "They don't just take on broad information, they DJ with it. They remix it and send it out."...
Ahead of this year’s holiday season, mobile commerce appears to have reached critical mass, new research suggests.
In fact, a full 88% of regular mobile users now take advantage of retail mobile apps, according to findings from app marketing firm Apptentive.
That share represents an increase of 174% since Apptentive conducted comparable research, last year.
Even among respondents who reported a preference for shopping in-store, 47% said they plan to do least some of their holiday shopping with retail mobile apps.
Among survey respondents who reported using retail mobile apps, 61% said they use the apps at least once a month....
Flash sales and private sales hit the ecommerce market with a fury back in 2009 and 2010. Some would even argue that flash sales are still the most scalable ecommerce business model. However, just like all new innovations, they hit a bubble, or trickle in their effectiveness, bringing up new and exciting innovations, particularly in the ecommerce world.
So, what is the next new and upcoming wave of innovation in the ecommerce space? Could your online business see something so revolutionary that could allow you to engage your customers through an unheard of medium? Is there a sales strategy that has gone untapped?That’s what we’re here to find out, so keep reading to learn more about five new and upcoming waves of innovation in ecommerce....
This sort of “blogging is dead, especially for business” thinking as shared in Beyond Blogging: 13 Content Marketing Opportunities for Ecommerce by Linda Bustos drives me nuts: Remember when business...
Via Deanna Dahlsad
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In 2014, research firm Nielsen conducted a study that found 85% of all consumer packaged goods (CPG) product launches flop. Of course, many see this as a necessary cost of doing business. To effectively test whether or not their ideas will fare well with consumers, big brands develop dozens of products, investing millions in the process, hoping that a handful will become wildly popular. And they do all this knowing a majority of their newest products will fail.
For small businesses though, this statistic is hugely discouraging. Fortunately, there are things brands and store owners can do to ensure the next products they develop, launch and promote are a success.
To help you beat the odds, we have outlined 10 steps every eCommerce store should take to increase their chances of a successful product launch....
Coined by the fearless leader and editor of “The Robin Report,” Robin Lewis, “The race to the bottom” is now the perfect catchall phrase for the dynamic we see at play now. (Full disclosure: I have valued Robin’s work for over 25 years, and think he is a complete visionary.)
The phrase not only refers to a price proposition, but also to the value proposition that I call “emotional gross margin” or EGM. EGM is the intangible value when you appeal to a consumer in ways beyond the product value. When you dilute your EGM, all you have left is a commodity. And everyone has commodities. The reality today is that we have created an experience for the consumer that is contributing to the dilution of an emotional gross margin. The diminishment of this so-important value proposition is creating an unending cycle that feeds on itself, further diluting the emotional connection.
You can now buy clothing for less than you pay for pizza at Dominos. The commoditization of apparel has finally hit its stride. Clothing is now the new fast food. And we digest it just as fast, or even faster.
At the same time, the consumer is smart enough to know that the price tag on a garment is simply a placeholder for an inevitable discount. By price promoting in this way, we have created an environment that has no end game and is jeopardizing our customers’ trust in our brands, it’s a game of chicken and we always blink....
Not every retailer had a great 2015. Some brands seriously struggled.
These are some brands that did not fare too well — many suffered from low sales and misguided sartorial choices. Some companies filed for bankruptcy.
Here's hoping 2016 will be better for them....
IBM’s Watson platform has another new side project: making holiday gift predictions. The company is releasing a new iPhone app called IBM Watson Trend, which they claim can predict which gifts are most likely to sell out at stores and e-commerce sites. While aimed at helping consumers, the app also shows the investment IBM has been putting into expanding Watson into the business world.
The app shows "trending" gifts in three categories—toys, consumer electronics, and health and fitness—alongside explanatory information about why those particular objects are trending. This includes analysis of hot purchases such as Lego City and the Nikon D-SLR, as well as products like Mattel's "Hello Barbie", which are declining in popularity (IBM says that, although popular with parents, children feel the interactive doll has an outdated style)....
On Wednesday, October 21st the ecommerce UK event titled “The Year Ahead” was held in London. Top retailers spoke about which future trends to focus on and how to secure sales growth in 2016.
Should you offer free delivery or click-and-collect? Online-only ranges? Personalised email marketing? Launch a loyalty app? Run a customer feedback programme?
With the endless options to choose from, leading retailers spoke about what they actually think is worth investing in, and where they expect their growth to come from in the next 12 months. In the panel discussion, Practicology’s CCO Jeremy Wilson posed an interesting question to Jaeger, Selfridges and Baker Ross...
Summary
- 83% of consumers want free shipping for online shopping. - Target, Best Buy, and Amazon all have free shipping programs for the holidays. - Wal-Mart is denying customers the one thing they want.
This holiday season, online shopping will be bigger than ever. FedEx (NYSE:FDX) expects to deliver 317 million boxes between Black Friday and Christmas Eve, an increase of 12.4% over the same period last year. Meanwhile, brick-and-mortar sales are expected to grow only by 2.4%.
This article contrasts the Wal-Mart mindset with that of its close competitors Target (NYSE:TGT), Best Buy (NYSE:BBY), and Amazon (NASDAQ:AMZN). The thesis of this article is that Wal-Mart (NYSE:WMT) is under-investing in the online segment for the all-important holiday season by not matching the free shipping policies of its major competitors. This is consistent with the company's misguided mindset of over-investment in stores and under-investment in E-Commerce....
I face this problem a lot. I never find relevant stats for a research at a flash bolt speed. It takes a search phrase and some patient and calm fishing before the desired figures can be pulled out.Information like statistics should be readily available. The figures and decimals are intimidating enough and then if searching for them becomes a task, one would rather skip it.
Figures are important for your business (and mine). A comparative study, an emerging trend, a success formula are all simplified into math. All complex sciences are proved and then approved by the simplicity of Math and Statistics. We love things simplified at VWO, so we bring you a compilation of all relevant eCommerce statistics .Some of them might even surprise you!...
The deal with Alibaba has many other aspects to it as well. Including, Kobe Bryant working with Alibaba Pictures to develop more of his branded products and distribute these through online shopping platforms.
Tmall and Taobao Marketplace have more than 350 million shoppers, all of which Kobe Inc merchandise will be available to....
Via Douglas G Hall
Beacons have been heralded as the future of retail, with 85% of retailers expected to use the technology by 2016. But getting a successful proximity-marketing program off the ground involves more than just setting out a few digital devices.
A bad user experience or a lack of infrastructure can derail even the most ambitious beacon program, which is why executives from some of the industry’s top firms are now focusing so heavily on client education. By offering guidance during the setup process, technology providers are hoping to help retailers overcome common challenges and launch more successful beacon programs.
Here are the top six most common reasons why beacon programs fail, as seen through the eyes of experts working in the industry....
Via Douglas G Hall
The holiday season, successful for many online retailers, is now in the rear-view mirror. With 2015 officially under way, what should online retailers be on the lookout for this year? Here are 10 specific 2015 eCommerce trends to be looking for…
We've previously covered Gumroad and FetchApp, two neat solutions that allow you to sell your digital audio, video, photos, art and writing from your own site... That’s why we’re checking out Quixly. It’s a great way to sell your digital downloadables in large volumes and allows for easy management of your files and orders. Plus, you can choose to pay as you go for the bandwidth and storage space you use or host your files yourself and manage them through using Quixly. Is this the app that’ll help make you rich beyond your wildest dreams (or at least sell a few copies of your best photos)? Let’s find out!
Quixly is a robust digital delivery app aimed at power users who want full control over their digital files and sales. Integrated with PayPal and Google Checkout, it offers you storage space and infrastructure to sell and even securely share your files along with recognized payment gateways that both you and your customers can trust. It’s easy to plug into your existing websites and is suitable for individuals and teams....
[Quixley is a promising app for managing and selling your digital creations including audio, video, photos, art and writing from your own website. ~ Jeff]
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