And for the time-pressed, here’s the speed summary of key insights/takeaways. Brilliant.
The future is e-commerce; offline commerce will serve only two purposes: immediacy(stuff you need right away), and experiences (showroom, fun venues).
But immediacy may no longer a promise for offline commerce companies as both Amazon and eBay have announced same day delivery.
The role of offline lies in the value of the “showroom” and “entertainment” aspects to places like Williams Sonoma. The future of commerce is a hybrid model with (entertaining) showrooms + online fullfillment
The future of e-commerce is combining online and offline experiences in disruptive ways. (Chloe + Isabel, Warby Parker, Everlane, and Stylemint)
There is no such a thing as e-commerce any more. There’s just commerce. You can innovate in commerce with technology, but the e-commerce silo is dead/dying (mobile payments are disrupting/removing the online/offline divide).
The future of e-commerce is vertical integration in markets where there is significant markup in both wholesale and retail (think Shoedazzle, Bonobos, J Hilburn, Warby Parker, IndoChino).
Few successful e-commerce companies were started in the early 2000s, although a slew of recent new entrants appear to be getting traction - flash sales, social commerce,subscription commerce and other new “content + commerce” models
The first wave of e-commerce was about commoditization this wave online and offline is about being a “merchant” (point of view, authority, experience etc).
The key equation driving e-commerce is: profit = lifetime customer value minus customer acquisition costs
“If it has a UPC code, Amazon will beat you.”
Before you enter the e-commerce game, visit an Amazon warehouse.
E-commerce is good for two things – price and exclusives. Amazon will beat you on price, so you have to beat it on exclusives.
The only way to escape commoditization and catalogue commerce dominated by Amazon is to a) sell used stuff, or b) make your own products (or provide a marketplace for those things), or c) (possibly) offer customisation
Be wary of e-commerce businesses based on customization – they’ve existed for a decade (cafePress, Shutterly, Vistaprint) and yet none are thriving. Customers don’t want customization, they want great brands and great design, and they want to be told what they want.
The e-commerce opportunity is to contribute to the e-commerce ecosystem rather than sell directly yourself; four opportunities – 1) supply chain innovation, b) marketplaces, c)e-commerce solutions for small businesses, d) mobile payments
There’s room for innovation in the space as long as the ecommerce company creates value for all participants – the retailer, the supplier and the customer
To make money in e-commerce, you need to sell in emerging markets where there are no huge incumbents
Compete in an industry with a grey market, where consumers are willing to pay higher prices for reducing risk, for authenticity, and warranties
The opportunity is to venture into segments where Amazon won’t go (adult, arms… !)
The opportunity for e-commerce success is a) sell to iPad owners (iPad owners are 10x more valuable than non iPad owners), b) mobile commerce (nobody owns this yet), and b) target your customers who use social features (3 to 4 x more valuable)
You can’t sell to people who know exactly what they want – Amazon owns that; focus instead either a) ‘discovery‘ (“the best place to discover the stuff you don’t know you need”) or b) deep domain expertise
to succeed in e-commerce, you need to sell exclusives. You can’t sell stuff that Amazon sells, Amazon will crush you
Amazon is not a store, it’s the world’s best supply chain and logistics company. Amazon is transforming from a retailer to a marketplace+services provider over time.
Domain expertise, live assistance, and overall experience are the critical success factors for success in a market where price-competitiveness and scale rule
Necessary (but not sufficient conditions) for e-commerce success are a) remarkable, unique and branded experience and remarkable, unique and branded service; do what Apple, Tiffany & Co., Coach, Lululemon do in bricks and mortar commerce, but online
Award-winning app and iBeacon developer Mobikats Enterprise (www.mobikatsenterprise.com) today announces the successful roll-out of its Beura iBeacon Platform at Guildhall Galleries in London.
The installation is one of the first consumer-facing iBeacon installations in Britain and is destined to pave the way for other iBeacon installations across retail, malls, hotels, museums, airports and any other public site.
Yummi Media Group,@YummiMediaGroup the British company specialising in second screen interactivity, has today announced a commercial partnership with WerbeWeischer - the influential market leader in German cinema advertising.
Yummi’s partnership with WerbeWeischer secures distribution of its interactive mobile app cinime through WerbeWeischer’s network of theatres, which equates to 80 per cent of the German cinema market. The collaboration represents a significant opportunity for advertisers to use smartphone technology to engage directly with German consumers before, during and after a cinema visit.
Fancy adding an element of surprise to your Wordpress site? The quick, dead easy Ninja Popups should be right up your alley!
They come complete with a bevy of killer popup responsive designs which you can go live with in no time. Split-tests, analytics and social media integration are also included. By default their popup looks just like the one below (you can obviously customise it to your liking - ninjas are masters of disguise ;) [more…]
Fairlife’s new milk adverts are unoriginal & tediously #sexist. There is what's pretty overtly wrong with this and then there's the underlying symbolism, which is even more disturbing. You don't need to be a radical feminist to see some pretty shocking commodification and objectification of ladies going on in this ad, which is only one in a series. Not to mention that one of the models is now suing.
Valamar Hotels & Resorts’ Introduction To Performance Marketing Results In A Triple Figure Increase In Sales For Croatia’s Largest Tourism Brand
Valamar Hotels and Resorts is the Croatian hospitality management company, operating 39 properties in the most popular tourist regions in Croatia. Valamar is the leading Croatian hotel brand with the country’s largest tourism portfolio.
Facebook’s Changing Its News Feed Algorithm Again Facebook has announced it will once again adjust its algorithm (on January 1, 2015) to show fewer posts from brand pages that appear to be “overly promotional.”