New Technologies for Retailers
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Are You Using the Right Technologies to Attract Buyers? Guidance, a web and mobile eCommerce design and development agency trusted by Internet Retailer Top 500 companies, recently presented the “New Digital Technologies for Retailers” keynote address at the Retail Online Integration Retail Marketing Virtual Conference & Expo 2013. Guidance CIO Jon Provisor walked attendees through the latest and greatest digital trends for retailers. The fourth annual virtual conference is a robust online experience, designed to bring retail and e-tail marketing and eCommerce topics, experts, and technology right to your computer, at no cost to you. Provisor discusses industry trends, the increasing use of devices, the rise of mCommerce, and disruptive technologies that retailers should prepare for and embrace. If you'd like to listen to the webinar, learn about our multi-platform eCommerce experience or demo our latest launches, call us at 310 754 3808.
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New Technologies for Retailers
- 1. New Digital Technologies for Retailers July 18, 2013 @guidance
- 3. ! Industry Trends ! Increasing Use of Devices ! Rise of mCommerce ! Disruptive Technologies ! Q & A @guidance
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- 8. Increasing Use of Portable Devices @guidance
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- 16. Responsive Emails ! 79%: People who use their smartphone for reading emails vs. making calls. (Adobe 2013 Digital Publishing Report) ! 42%: Emails opened on mobile device (Litmus –”Email Analytics”, March 2013) ! 71%: Mobile purchasing decisions influenced by retail emails (Adobe 2013 Digital Publishing Report) @guidance
- 17. Me-Tailing ! Introduction of customized experiences ! Made-to-order, personalized products ! Nike, Levi Strauss, Jockey, Converse, ! J Hilburn, world’s fastest-growing luxury men’s brand, offers selection of fabric, style (collar, cuff, pocket, front and back), contrast fabric/ thread, contrast fabric placement and monogramming @guidance
- 18. ShoppableWindows ! eBay smart walls/ touch screens ! June 8 – July 7, NYC ! Generate more sales by offering shopping 24/7 ! Extension of in-store inventory ! Purchased products delivered within the hour by courier ! Payment in person through PayPal Here at time of delivery @guidance
- 19. Guideshops ! Theliving,breathingwebsite ! 50%:Shoppers showroom,and ! 34%: Shoppersbuy fromonline-onlyretailers (IBMFromTransactionto RelationshipsStudy,Jan 2013) ! 18-34:Morelikelyto shopforallitemsonline, with40%ofmalesand3 5%offemalestobuy everythingonline.(DDB WorldwideJan2013 Study) ! Internetasabackroom ! Piperlime,WarbyParker, Baublebar,Bonobos @guidance
- 20. Q & A @guidance
- 21. Contact Information Jon Provisor jprov@guidance.com 310 754 3886 @guidance
Editor's Notes
- Good afternoon (East Coast)/Good morning (West Coast) I’m excited about the opportunity and privilege to speak as a part of Retail Online Integration’s Retail Marketing Virtual Conference & Expo. I am Jon Provisor, CIO of Guidance. We are going to spend the next hour looking into the New Digital Technologies for Retailers. We will explore industry trends and the resulting eCommerce technology trends for retailers.I have two goals for this panel: 1) to educate / inspire our audience on eCommerce trends and upcoming technologies and 2) not to suck!
- About Guidance: At Guidance, we’re celebrating 20 year anniversary. We focus on enterprise ecommerce, web development & mobile apps, hosting & managed services for clients such as Foot Locker, Burlington Coat Factory, Murad Cosmetics, Relax the Back, AC Moore, Coffee Bean & Tea Leaf, and more.Interactive-survey:How many are pure eTail? Retail? Retail & eCommerce?
- Industry TrendsIncreasing Use of DevicesRise of mCommerceDisruptive TechnologiesQ&A
- Source: Comscore State of the US Online Retail Economy Q1 2013Let’s review the macro trends in the retail economy and how these trends are affecting online commerce.
- Macro eCommerce RevieweCommerce spending continues to grow for Q1 2013,, up 11% ($78B) vs Q1 2012Very solid and steady growth over the last decadeOne would be challenged to find that type of growth in any other sector of the economy over the last decade
- “Discretionary spending” is defined as the portion of expenditures a person uses for non-essential goods/services. Or otherwise known as “fun spending” – vacations, toys, hobbies, etc.eCommerce grew by 13% while discretionary spending grew by just 1%
- Nearly 11% of all discretionary dollars were spent online in Q1 – highest share observed to date
- Source: Comscore State of the US Online Retail Economy Q1 2013
- Tablet ownership has risen above 60 million, while 137 million now own smartphones
- Multi-platform Internet usage has led to a doubling of digital media consumption in the past 3 yearsFeb 2010 451 minutes vs. Feb 2013 890 minutes (97% increase)Tablet: 115 minutesSmartphone: 308 minutes (389% increase)Desktop: 467 minutes (20% increase)
- Source: Comscore State of the US Online Retail Economy Q1 2013This is all about reaching people whenever and wherever they are; eliminating the barriers and obstacles to shopping
- Nearly half of digital time spent on retail properties now occurs via smartphones and tablets52% Desktop34% Smartphone14% Tablet
- The average Top 50 retailer extends its reach by 45% via mobile (tablet + smartphone) channels
- Q1 2013 discretionary spending: mCommerce growth significantly outpacing eCommerce and far ahead of all consumer spending*1% Total Retail 13% eCommerce31% mCommerceTo survive you have to render your experience into the relevant device; Reduce barriers in any platform; Make it easy to buy through these devices
- With the growth of web transactions and clear statistical evidence of display habits, this next section will discuss what you can do to exploit those trends; specifically, we’ll discuss:Responsive EmailsMe-tailingShoppable WindowsGuideshops
- Use Responsive Email Design technology to create crazy powerful email campaigns, regardless of the device your customer is using to read your emails. Responsive Email Design uses sensing technology embedded in your email to recognize if the email is being read on a desktop, tablet, or mobile phone, and then reformats the email on the fly, creating the best reading experience for that device.Some companies using responsive emails today include AT&T, Crocs, Hilton, Starwood and Toms
- Mass customization for the eTail marketMade-to-order bras, shoes, shirts, jeansNike, Levi Strauss, Jockey, Converse, True & Co.; J Hilburn, Indochino, Boot BarnEach is up against biggest manufacturers, but without overhead costs
- New eBay eCommerce technology that will allow consumers to get all their shopping done while standing in front of smart walls/touch screens. I have a FOX NEWS video to share at the end of this session in the networking lounge that shows these windows in action: http://video.foxbusiness.com/v/2469811930001/ebays-new-twist-on-window-shopping/ Designed to help retailers generate more sales from their existing physical stores. Allows stores to offer selections well beyond what they’re capable of holding in terms of in-store inventory.Were open for business from June eighth to July seventh in busy parts of New York City. 9’ W and 2’ H, and appeared on the front windows of closed stores. Shoppers used touch screens to view and order products, which were delivered within the hour by a courier.Customers didn’t have to enter any sensitive billing information at the display, as the courier accepted payments through PayPal Here at the time of delivery.
- Brick and mortar presence for eTailers, where customers can try products on for size, put outfits together and get advice from salespeople – all to be ordered onlineGuideshops exploit this trend:50% of all shoppers showroom and 1/3 of shoppers buy from online-only retailers (January 2013 IBM Study: From transactions to relationships)A January 2013 survey from ad agency DDB Worldwide of US web users’ attitudes toward ecommerce found that both millenial males and females ages 18 to 34 were more likely than their 35- to 64-year-old counterparts to engage in nearly every online shopping activity, with 40% of males and 33% of females in the younger age group reporting that ideally they would buy everything online.Internet as backroom – nothing is ever out of stockExamples:Fashion site Piperlime;Eyewear site Warby Parker;Fashion jewelry site BaubleBar;Men’s apparel startup Bonobos
- Q&A
- jprov@guidance.com310-754-3886