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Changing The Future: Emerging Technologies That Will Blow Customers Away

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This is a presentation I gave at the Online Retailer Conference in Sydney, Australia on July 8th, 2010. The presentation covers the rise of e-commerce, how the 'experience' hasn't changed, and how …

This is a presentation I gave at the Online Retailer Conference in Sydney, Australia on July 8th, 2010. The presentation covers the rise of e-commerce, how the 'experience' hasn't changed, and how augmented reality will change how we shop online.

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  • It’s utilitarian and provides no emotional satisfaction. Conversion rates are low, with the “gold standard” being between 2% and 3%. Cart abandon rates are high. 45% of U.S. online shoppers abandoned shopping carts multiple times over a span of three weeks. (Paypal & ComScore) The average return rate for online clothing retailers is about 20% but goes as high as 50% for some. (Forrester Research) "If I'd asked people what they wanted, they would have said a faster horse .“ – henry ford
  • Not saying that we shouldn’t listen to our consumers… just saying that we should be leading them and innovating for them.
  • Not saying that we shouldn’t listen to our consumers… just saying that we should be leading them and innovating for them.

Transcript

  • 1. Changing The Future: Emerging Technologies That Will Blow Customers Away
  • 2.
    • Snapshot: We’re an interactive marketing agency with a passion for emerging media and technologies
    • Services: Interactive Video, Social Media Marketing, Mobile Marketing, Website/Application Development
    • AR Products: Webcam Social Shopper / Fashionista, Cannonballz, ZugSTAR
    • Founded: 2001
    • Location: Los Angeles / New York
    • Web: www.zugara.com
    • Blog: www.weareorganizedchaos.com
    • Facebook: www.facebook.com/zugara
    • YouTube: www.youtube.com/zugara
    • Twitter: www.twitter.com/zugara
    PROFILE HELLO… WE’RE ZUGARA
  • 3. State of E-Commerce
  • 4.  
  • 5.  
  • 6. Online Retail Sales Continue to Rise…
  • 7. Web-Influenced Retail Sales Rise As Well…
  • 8. Peers Continue To Influence Purchase Decisions
  • 9. Peers Continue To Influence Purchase Decisions 83% of online shoppers said they are interested in sharing information about their purchases with people they know (Manage Smarter, September 2009)
  • 10. Peers Continue To Influence Purchase Decisions 74% are influenced by the opinions of others in their decision to buy the product in the first place. (Manage Smarter, September 2009)
  • 11. But What’s Missing?
  • 12. Shopping Offline Is An Emotional and Social Experience
  • 13. Online…Not So Much
  • 14.
    • The “consumer experience” has made very little progress in the last 15 years
    Amazon 1990’s Amazon 2010
  • 15. And Continues To Face Obstacles Online Catalyst To Drive Purchase 45% of U.S. online shoppers abandoned shopping carts multiple times over a span of three weeks. (Paypal & ComScore)
  • 16. We Can’t All Have Apple’s Loyalty Conversion rates are low, with the “gold standard” being between 2% and 3%
  • 17. Return To Sender… The average return rate for online clothing retailers is about 20% but goes as high as 50% for some. (Forrester Research)
  • 18. What Are Brands Doing To Evolve The E-Commerce Experience?
  • 19. E-Commerce Innovations – Social Media
  • 20. <- Zappos Interactive Product Videos <- Sales increased from 6% to 30% when product had video associated with it E-Commerce Innovations – Interactive Video Samsung Live Video Customer & -> Product Support
  • 21. YouTube & Video Chat Generation
    • 36% of Skype-Skype calls included Video
    • Chatroulette had 960,000 unique U.S. visitors in February
    Sources: GigaOM – Skype By The Numbers. It’s Really Big Comscore – Chatroullette Takes The College Crowd By Storm
  • 22. Worldwide Projected Webcam Growth
    • Markets for webcams at $1.8 billion in 2008 are anticipated to reach $3.2 billion by 2015 , growing in response to decreases in unit costs and increases.
    • (Wintergreen Research - Worldwide WebCam Market Shares, Strategies, and Forecasts, 2009-2015)
  • 23. What Does All This Add Up To? A New Way For The Consumer To Interact With Products And Brands Online
  • 24. E-Commerce & The Augmented “Product” Experience
  • 25. SHOW OF HANDS: How many of you know what Augmented Reality is?
  • 26. My reaction to AR for the 1 st time…
  • 27.
    • It’s when the real world is “augmented” by computer data.
  • 28.
    • AR is not Virtual Reality or
    • Second Life…
  • 29. AR is the future of how we will interact with digital information VIEW INTERACT ACCESS
  • 30. Usually shown as reality in popular movies today…
  • 31.  
  • 32.  
  • 33. AR looks cool, but is anybody actually using it?
  • 34.  
  • 35. Major advertising and marketing channels have started using AR
  • 36. Online, all the consumer needs: Decent Computer
  • 37. Online, all the consumer needs: Decent Computer Regular Web Cam
  • 38. Often times a marker (or glyph):
  • 39. And sometimes just an image:
  • 40. Some AR executions require:
  • 41. This is a barrier for the consumer
  • 42. So beyond all the hype, what’s practical for AR in the here and now?
  • 43.
    • Online AR currently most popular
      • Largest Reach / Average Spec
      • Adoption of Video Chat / Webcam Fueling Growth
      • Flash-based AR
      • Kiosk-based AR growing
        • Limited Scale / Reach but Least Amount of Barriers
        • Highest Spec Possibilities
      • Mobile AR = not yet ready for primetime
        • Limited Processing Power
        • Will be Focal Point of AR in the future
  • 44. Augmented Reality Shopping – IKEA
  • 45. Augmented Reality Shopping – IKEA
  • 46. Augmented Reality Shopping – Ray-Ban
  • 47. Augmented Reality Shopping – Ray-Ban
  • 48. Augmented Reality Shopping - Tissot
  • 49. Augmented Reality Shopping - Tissot
  • 50. Augmented Reality Shopping - Lego
  • 51. Augmented Reality Shopping - Lego
  • 52. How Do We Use AR To Enhance The E-Commerce Experience For The Consumer?
  • 53. Focus On Utility
  • 54. Integrate Social Media
  • 55. No Software Downloads Online
  • 56. “ Augmented Reality is a solution looking for a problem…”
  • 57. Problem : How Do We Bridge The Gap Between Offline and Online Shopping Offline Shopping Social but time consuming Online Shopping Convenient but not social
  • 58. And Give Consumers That “At The Rack” Experience, Online?
  • 59. Solution: Augmented Reality
  • 60. Fashionista – Integration of AR + Real-Time Personalization
  • 61. Streaming Augmented Reality – Real-Time, Interactive Video Chat for Online Shopping
  • 62. The Future?
  • 63. Future Of Shopping Will Be Digital
  • 64. “ If I had asked people what they wanted, they would have said faster horses.”
  • 65. “ If I had asked people what they wanted, they would have said faster horses.” - Henry Ford
  • 66. Thank You! Matthew Szymczyk CEO, Zugara [email_address] twitter.com/kobrakai facebook.com/Mhszymczyk
  • 67. Market Data
    • In 2009, 154 million people in the U.S. bought something online, or 67% of the online population (4% more than in 2008). (Forrester Research)
      • 80% of Gen X and 71% of Gen Y internet users buy products online. (Pew Internet & American Life Project)
    • Amount people spent on clothing online: $13.6 Bil. (US Census)
      • Amount people spent on clothing in store: $7.0 Bil.
    • 83% of online shoppers said they are interested in sharing information about their purchases with people they know, while 74% are influenced by the opinions of others in their decision to buy the product in the first place. (Manage Smarter)
    • Online social network users were three times more likely to trust their peers' opinions over advertising when making purchase decisions. (Jupiter Research)
    • B2B interactive marketing spending will climb to nearly $4.8 billion in 2014. (Forrester Research)
  • 68. The Future Of AR
  • 69. True Markerless Via An Average Webcam More Immersive Experience Online / Kiosk
  • 70.
    • Mobile Will Overcome:
    • Hardware Issues
      • GPS Accuracy
      • Compass Accuracy
      • No Front Facing Camera
    • Processing Power Issues
    • Issues Accessing API’s
    • To Become:
    • Central touchpoint for AR
  • 71. Connected TVs Will Be A Powerful Medium
  • 72. “ The best way to predict the future is to invent it.” - Alan Kay