As they say, the times they are a changin'. With the holiday season upon us, we've probably all heard a fair amount of talk about eCommerce (especially mobile) taking over in a major way.
This got us thinking: could it be the end of brick-and mortar for good?
If you're sitting on the edge of your seat waiting to find out who will win this ever so important battle, here's what we're talking about. . .
"Meeker cites analyzed digital data as a primary factor in the success of the fastest growing and most successful companies around the world as it empowers businesses to provide consumers with increasingly personalized products and services in an efficient manner,"
Let us not jump to any premature conclusions without checking the numbers. Here we have a comprehensive look at Meeker’s current Internet Report and the top trends that have been identified for eCommerce in particular.
“95 of current Prime members surveyed said that they would “definitely” or “probably” renew their memberships.”
Come on, how far through this article did you think you'd get without Amazon being brought up? Hey at least I saved it for number 2! As obvious as this may sound, Amazon is dominating the eCommerce world and does not seem to be going anywhere, anytime soon. By looking at Amazon's plethora of Prime members, we can see what an impact this type of service is making on the retail world.
“60% of people age 18-24 would try a product suggested by a YouTuber”
Millennials are a group long pondered by marketers, trying to discover what makes them tick. As confusing as they may seem, research has finally started to figure them out. Check out this infographic to take a deeper dive into the minds (and wallets) of millennials and how they have changed the purchase habits of today.
“We look at flat income growth from most Americans. . . and low acceptance of online shopping overall. This adds up to a growing e-commerce channel, but it's still not large enough in most sectors to have a material impact.”
Hold the phone! Forbes has something to get off their chest. In this article, we see a contrary opinion of the future of eCommerce. Forbes argues that while shopping has shifted toward online, and some brick-and -mortars have taken a fall, these two may not be as connected as we think. Check it out to see what else could be going on.
“Stores must adapt to the digital age, serving as showrooms for products that consumers can order online from the retailer’s e-commerce site, sharing data across channels and using mobile apps to provide convenience.”
It's time to call a truce! Let's face the facts: no one is perfect. There are countless benefits to shopping online, just as there are countless benefits to shopping in stores (and same for the cons). So what if everyone called off the battle and joined forces instead? It sounds like a win win!
“For consumers, it's simply 'commerce,' and retailers that want to thrive, or survive, need to fully embrace a one brand, many channels strategy.”
Once again, Forbes has an alternative perspective for us! While the reports and statistics we see are often separated by online and in store shopping, Forbes claims this may not be very important. In a world where consumers have technology at their fingertips, yet still enjoy a physical experience, the most successful companies will learn to adopt this multi-channel approach.
“if Amazon can get everyone around them to pay for their outbound logistics cost, it's going to be very hard for brick-and-mortar retailers to sustainably compete with that over time.”
As we can see, this topic is very debatable. There seem to be facts supporting both sides, and for that reason, it may be best to hear a real conversation about it. In this episode of “Bricks to Clicks,” Bryan Gildenberg, chief knowledge officer of Kantar Retail talks about this transition and what it means for businesses on both sides.
A changing purchasing environment can have significant effects on lead generation efforts for marketers and businesses alike. Check out our ECommerce Marketing: Intro to Lead Generation Guide to hone in on your customer relationship strategy, and take your business to the next level.