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Online shopping innovation, Dec. 2021

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Online shopping innovation, Dec. 2021

  1. 1. Innovation in Online Shopping: almost #IRL Anja Husemann, Dec. 2021
  2. 2. Online Retail, Redefined The COVID-19 pandemic drove people to choose online shopping over in- person shopping more often. However, a 2021 Raydiant survey found that 46% of U.S. consumers still prefer to shop in-person in 2021 given the choice (a 9% decline from 2020 pre-COVID-19 levels). The main reason - looking to interact with products. At the same time, retailers are investing in the store's merchandizing, look and feel, to engage with shoppers, convey brand values and build the brand - something that is at risk when shoppers only buy online, where this experience is harder to replicate. The result: retailers are exploring Omnichannel to offer immersive shopping experiences through Live Stream Shopping, Virtual Stores and "Shop with Friends". Here are some recent examples.
  3. 3. Live Streaming In the new digital age, interacting over technology is more important than ever. Live streamed events are the new way for influencers to continue "meet and greets" with their fans and not be limited by COVID-19 restrictions. Several social media platforms have begun adding live streaming as a part of their services, in addition to pre-existing options like sharing photos and messaging. Facebook research (Sep., 2021) shows that 78% of global consumers say that the shopping experience a company provides is as important as its products and services. Over half (55%) of Gen Zers and 62% of Millennials say they would buy directly from live videos when brands and creators launch new products.
  4. 4. Social media platforms and retailers are hosting live streamed shopping events where you can watch and interact with influencers while shopping. Shoppers are able to receive special discounts and learn about new products from different brands. Pinterest Saks Fifth Ave Youtube
  5. 5. In May 2021, Aldo held a live streaming event where consumers could receive fashion tips from the hosts and shop the spring collection. According to Retail Insider, Aldo saw 17,000 page views in the first five days after the event and had a 308% engagement rate. Aldo
  6. 6. Virtual Stores The idea of brick-and-mortar stores is being reinvented to fit the online lifestyle - and allowing shoppers to "see and feel" the merchandize better. Many stores are creating virtual versions of their physical stores that you can click to walk through. Shoppers can view displays and be directly linked to the products they see. Virtual stores like these are tapping into the metaverse and give the very real feeling of shopping in person without having to actually be there. This is the middle ground for shopping from any location and still being able to experience a physical store. American Girl Christian Dior
  7. 7. Wrangler
  8. 8. Shop with Friends Charlotte Tilbury has created a virtual shopping "wonderland" where you can video chat with your friends directly on the website. With this, you and your friends can shop online together and chat about beauty products. As online shopping becomes more prominent, it's important for consumers to still be able to interact with friends and share the experience together. This enables brands to engage shoppers by offering chats (with friends and/or the brand/retailer), including user- and expert - generated content, and create a community.
  9. 9. Thank you! www.researchci.com Info@researchci.com

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