A look at the Digital Future of Global Retail
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The document discusses the future of digital marketing and retail. It describes an "Integral Reality" future where the digital and physical worlds are intertwined. It also outlines how the customer purchase journey will evolve to rely more on online reviews and social recommendations, with data showing consumers are influenced by online ads and trust online recommendations. The purchase process is trending toward increased ecommerce sales as consumers now evaluate and bond with purchases after making them.
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2. Customized shopping - Consumers will be able to customize their shopping experience and products based on their preferences.
3. Deep customer insight - Retailers will use data mining and analytics to precisely target and engage customers.
The document advocates for business strategies that empower consumers, provide personalized options, gain deep customer insights, utilize multiple digital channels, engage customers through interactive marketing, create smart retail stores, maximize emerging technologies, enable mobile shopping, expedite
China digital consume trends in 2019
China’s rise as a global leader in ecommerce has been nothing less than stunning. This year, online retail sales are expected to swell to $1.5 trillion, representing a quarter of China’s total retail
sales volume, and more than the retail sales of the ten next largest markets in the world – combined.
China eCommerce PoV
Recent research by Accenture highlights the dramatic evolution of consumer behaviors and expectations in China:
1) Today consumers expect to get what they want, when they want it. By 2020, they will expect what they want, how they want it. And by 2025, consumers will expect solutions to be provided before they know they want them.
2) Shopping journeys have become complex with multiple touchpoints. Consumers increasingly demand seamless, personalized solutions throughout their purchasing process.
3) CPG companies now face an urgent challenge to understand these evolving consumer expectations and capture the "micro-moments" that drive purchasing decisions, or risk losing customers to digital platforms already tailored to the demands of modern consumers
Collaboration to improve retail performance
This document provides an overview of Workplace for Retail, focusing on trends shaping the future of retail and how collaboration tools can help retailers address rising customer expectations. The key trends identified are promiscuous purchasing behavior, reflective buying based on brand values, and blended shopping across online and offline channels. This places emphasis on delivering great customer experiences through empowered retail employees. The document explores how tools like Workplace can enable "customer-centric collaboration" by providing shared workspaces, video calling, and integration with email apps. Case studies show how retailers like DFS and Miroglio have used Workplace to better communicate benefits information and ensure brand consistency across stores. The conclusion provides a checklist for digital transformation, stressing the importance of
Kantar-Catalyst State of Ecommerce 2021.pdf
The document is a study by Catalyst and Kantar on the state of ecommerce in 2021. It analyzes survey responses from 500 online shoppers and 200 industry professionals to provide insights into evolving shopper expectations, the importance of integrating retail, search, and social strategies across platforms, and how leading companies are adapting their strategies in response. Key findings include that shoppers prioritize convenience over price, use multiple online touchpoints for research and discovery, and expect a seamless omnichannel experience. The study recommends brands break down silos, optimize product pages, and partner with retailers to measure success beyond just return on ad spend.
Retail Technology Trends
Technology will transform retail resulting in the growth of brick and mortar retail. Check Retail Technologies trends that will help retailers survive.
The growth of eCommerce: does it impact brand strategy?
The growth of eCommerce is changing brand strategies in several ways. Consumer expectations are evolving as people now research products online and read reviews from other consumers before purchasing. Brands must be present across online and offline channels to understand the entire customer journey. An eCommerce strategy should go beyond just online sales and consider how the brand engages with customers at all touchpoints. To achieve growth objectives, brands need to continuously innovate, enhance their online content and experiences, and invest in new technologies.
Forrester: CPG Consumer Engagement in a Digital World
This document summarizes a study conducted by Forrester Consulting on digital transformation opportunities in the consumer packaged goods (CPG) industry. The study found:
1) CPG marketing leaders anticipate significant investment in digital capabilities to target global consumer segments, increase consumer lifetime value, and accelerate new product introductions.
2) Leaders expect sales through their own digital channels and e-retailers to grow substantially over the next 5 years, outpacing traditional retail channels.
3) However, leaders also perceive barriers to digital transformation from local cultural attitudes, privacy regulations, and logistical challenges to direct-to-consumer commerce.
Snapstyle Social Commerce for Snapdeal India
Coursera Wharton Specialization final proposal of UGC social commerce for Snapdeal India to stand out in the price war
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A look at the Digital Future of Global Retail
- 1. A look at the Digital Future of Global Retail The future of digital marketing is bright. The retail brand’s consumer has evolved with the advent of new technology and channels, and these channels demand a new type of marketer. With more marketing metrics and tactics than ever before, modern marketers must look at the current trends to prepare their strategies for the future. Fortunately, there’s an alternative digital future taking shape that I call Integral Reality, which combines the best of the digital and analog worlds. Integral Reality intertwines the wonders of the digital within the physicality of real things. These examples make up a radically different vision of the future than a Rift-like virtual reality, which will take us down the path of living within a sealed screen entirely cut off from the physical world. Purchase Journey’s Evolution In the future the retail customers purchase journey will likely put more stock in online reviews & Social recommendations. Just take a look at the current state of the customer lifestyle to get an idea of how the purchase process id trending. CONSIDERATION: 18% of consumers report being influenced by an online ad in the past 12 months. EVALUATION: 90% of consumers say they trust online recommendations for products. PURCHASE: Ecommerce sales are growing rapidly and topped $1 trillion for the first time in 2012. ENJOYMENT:
- 2. Sales process no longer end of purchase. Consumers now evaluate and bond with purchases. ADVOCATING: Ecommerce customers have created over 500,000 product reviews on Amazon.