Changing The Future: Emerging Technologies That Will Blow Customers Away
 

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.

Changing The Future: Emerging Technologies That Will Blow Customers Away Changing The Future: Emerging Technologies That Will Blow Customers Away Presentation Transcript

  • Changing The Future: Emerging Technologies That Will Blow Customers Away
    • 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
  • State of E-Commerce
  •  
  •  
  • Online Retail Sales Continue to Rise…
  • Web-Influenced Retail Sales Rise As Well…
  • Peers Continue To Influence Purchase Decisions
  • 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)
  • 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)
  • But What’s Missing?
  • Shopping Offline Is An Emotional and Social Experience
  • Online…Not So Much
    • The “consumer experience” has made very little progress in the last 15 years
    Amazon 1990’s Amazon 2010
  • 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)
  • We Can’t All Have Apple’s Loyalty Conversion rates are low, with the “gold standard” being between 2% and 3%
  • Return To Sender… The average return rate for online clothing retailers is about 20% but goes as high as 50% for some. (Forrester Research)
  • What Are Brands Doing To Evolve The E-Commerce Experience?
  • E-Commerce Innovations – Social Media
  • <- 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
  • 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
  • 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)
  • What Does All This Add Up To? A New Way For The Consumer To Interact With Products And Brands Online
  • E-Commerce & The Augmented “Product” Experience
  • SHOW OF HANDS: How many of you know what Augmented Reality is?
  • My reaction to AR for the 1 st time…
    • It’s when the real world is “augmented” by computer data.
    • AR is not Virtual Reality or
    • Second Life…
  • AR is the future of how we will interact with digital information VIEW INTERACT ACCESS
  • Usually shown as reality in popular movies today…
  •  
  •  
  • AR looks cool, but is anybody actually using it?
  •  
  • Major advertising and marketing channels have started using AR
  • Online, all the consumer needs: Decent Computer
  • Online, all the consumer needs: Decent Computer Regular Web Cam
  • Often times a marker (or glyph):
  • And sometimes just an image:
  • Some AR executions require:
  • This is a barrier for the consumer
  • So beyond all the hype, what’s practical for AR in the here and now?
    • 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
  • Augmented Reality Shopping – IKEA
  • Augmented Reality Shopping – IKEA
  • Augmented Reality Shopping – Ray-Ban
  • Augmented Reality Shopping – Ray-Ban
  • Augmented Reality Shopping - Tissot
  • Augmented Reality Shopping - Tissot
  • Augmented Reality Shopping - Lego
  • Augmented Reality Shopping - Lego
  • How Do We Use AR To Enhance The E-Commerce Experience For The Consumer?
  • Focus On Utility
  • Integrate Social Media
  • No Software Downloads Online
  • “ Augmented Reality is a solution looking for a problem…”
  • Problem : How Do We Bridge The Gap Between Offline and Online Shopping Offline Shopping Social but time consuming Online Shopping Convenient but not social
  • And Give Consumers That “At The Rack” Experience, Online?
  • Solution: Augmented Reality
  • Fashionista – Integration of AR + Real-Time Personalization
  • Streaming Augmented Reality – Real-Time, Interactive Video Chat for Online Shopping
  • The Future?
  • Future Of Shopping Will Be Digital
  • “ If I had asked people what they wanted, they would have said faster horses.”
  • “ If I had asked people what they wanted, they would have said faster horses.” - Henry Ford
  • Thank You! Matthew Szymczyk CEO, Zugara [email_address] twitter.com/kobrakai facebook.com/Mhszymczyk
  • 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)
  • The Future Of AR
  • True Markerless Via An Average Webcam More Immersive Experience Online / Kiosk
    • 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
  • Connected TVs Will Be A Powerful Medium
  • “ The best way to predict the future is to invent it.” - Alan Kay