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Online shopping has become extremely popular over the last decade.
Utilized mostly by the "Net- Generation", this service is extremely convenient.
Although online shopping can be very convenient and
beneficial there are also some potential problems that can arise.
Consumers have been seen to exhibit different buying behaviors when shopping online than when they are shopping in a physical store.
This makes it imperative that retailers study the behaviors of consumers and make changes in order to remain profitable and successful.
Another potential problem that can arise from online shopping is addiction. The convenience of online shopping
that can be seen as very beneficial, can also lead to an unhealthy addictive pattern of behavior.
If the person does not seek help, this unhealthy pattern, can result in an online shopping addiction, causing
more than financial damage.
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Already, 2019 stands to be one of the most inventive, transformative and
just plain interesting years in retail yet. This article is BigCommerce’s annual publication of our survey out to industry experts, influencers,
consultants, entrepreneurs and executives - all of whom work on, with or invest in Fortune 1000 companies
and rising DNVB stars.
1. What will change in retail in 2019?
2. If you started a brand now, what you focus on for
long-term, sustainable growth? 3. If you were heading up
a large, legacy brand, what would you focus on for
2019? Their collection of insights has highlighted 17 stark trends.
There are a few trends, in particular, that stand out
across the board. 1,000,000 in revenue based on your
own paid media education. Content that’s the reason why it’s a
large legacy brand. The consistency that you will
always be there and have the ability to handle new trends will give
buyers confidence. Through visual refreshes the brand
can stay with it and have a modern style but still what consumers trust underneath.
At this point you have to rethink the in-store
experience. What is a retail store for?
Because the answer to that is not the same as it was even 5 or 10 years ago.
People visit your store rather than shop online for a reason. Find out what that reason is and give them more of it.
Find a better way to bring the "in-store experience" online as well as bring the "online experience" to the storefront.
Brands are making progress here, but it still feels disconnected.
Large legacy brands need to make this happen in 2019 if they want to avoid
the fate of Sears. Have brick it’s just different.
Use retail space to
create communities of customers, to educate them on products,
to support your customers, and to create amazing customer experiences.
In 2019, brand relevance will emerge from customer personalization. Consumers understand that
large brands collect data about them. While everyone isn’t thrilled about it, some customers
prefer the data be used to enhance their shopping experiences.
That means more relevant product recommendations, customized email campaigns, and access to store specials specific
to their desires. Create major/long term partnerships and ambassadorships with
social media influencers and micro-influencers. 1. Abandon the "every brand for itself" mindset and form
strategic partnerships with competitors and upstart startups.
2. Nix all "How do you do, fellow kids?
" language from my copy assets. For me, everything starts with the foundations of
a business and the person that is the closest to the customer actually wins.
1% to 4% simply by interviewing customers who bought, those that didn’t, and understanding our customers on a
deep level. Once you can do this, you can adjust your marketing to attract your
best customers and to speak their language.
If you want to stay relevant, you need to understand that messaging
& experiences that resonates with your customers -
and the closest you get to your customers, the more you win.
Disruptor brands are taking share from established brands for two reasons.
They’re better at performance marketing, and they’re
better at user experience. For these legacy brands to stay relevant, they need
to change their metrics. Large brands drive "Reach & Awareness"
as an objective, whereas the Disruptor Brands focus on "Conversions" as an objective.
Get serious and sophisticated about your complete online and offline digital presence.
Get someone internally or externally who is an expert in the
deep science of succeeding with your brand on Amazon (they are the Google SEO/PPC of a decade ago).
Create immersive digital experiences for your customers in your online and brick and mortar shops.
Spend on creating a digital experience of your product lines that goes beyond simple product photos.
If you don’t do it in your space, someone else will.
 Now, while ecommerce
is still only 9% of all retail commerce in the US,
is the time to plant your flag and stake your claim in your category online.
Remember that today it is the fast fish who are eating the BIG fish.
Learn to be like Amazon! There are many lessons to be learned from the market’s reaction to Jan Singer’s (now former Victoria’s Secret CEO) comments about not considering plus-size and trans women in relation to the company’s annual Fashion Show.
Though the current American political landscape may suggest otherwise, the world of consumers are ready to see more inclusivity and diversity in branding and advertising.
Legacy brands are perfectly poised to act as the trailblazers
for this movement.
Large legacy brands will need to adopt the socially-conscious attitudes
and actions that so many successful DNVBs display. Buyers today, especially affluent millennials, care about a company’s beliefs on social issues.
As a result, inclusive, online-only lingerie brands like ThirdLove have had
a banger year. Legacy brands, 2019 will likely be your last chance to show customers you care about
something other than profits. Want more insights like this?
We’re on a mission to provide businesses like yours marketing and
sales tips, tricks and industry leading knowledge to build the next house-hold name brand.
Don’t miss a post. Sign up for our weekly newsletter.
Only 9.6% of Gen Z reports buying items in a physical
store -- considerably less than their older generations (Millennials at 31.04%, Gen X at
27.5%, and Baby Boomers at 31.9% respectively).
Both Millennials and Gen Z spend the majority of their shopping
dollars on products they find on Instagram and Snapchat.
Gen Z respondents spend 8% more of their discretionary income each month online than the
global average - and tend to prefer online purchases to those made offline.
Only 56% of Gen Z consumers made a purchase in a physical store in the last six months compared to 65% of all respondents.
Gen Z’s buying behavior. Respondents from this generation were 2X
more likely than the average consumer to make a
purchase on Instagram over the last six months, and 3X more likely to
Buy flowers
in Bahrain on Snapchat. 30% of Gen Z buyers saw
an ad about the product on social media, and 22% visited at
least one of the brand’s social channels prior to making an in-store
purchase. 6% of online shoppers prefer mobile wallets over other forms of payment.
Gen Z shoppers are 2X more likely to complete an online purchase
using a mobile wallet like Apple Pay, Amazon Pay or Google Pay than the average
global consumer. Gen Z shoppers were 8% more
likely than other respondents to be influenced by the availability of financing, given that they likely have lower incomes to support their spending. |
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