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
LIDA launches its first integrated campaign for UK’s leading dementia charity -
LIDA, has launched the ‘Staying Connected’ kit for Alzheimer’s Society (AS), the UK’s leading dementia charity. The integrated campaign aims to increase the acquisition of new supporters and is the first in a series from LIDA following its appointment in April 2014. [more…]
Latest : Immedia announces that it has signed a contract to provide music and information channels to Wembley City.
The four channels will cover the Olympic Way, the Arena, the Piazza and retail areas. Each channel will include relevant information together with 'audio art' featuring montages of great moments in Wembley's history.
Bruno Brookes, CEO of @ImmediaPlc said: "We are delighted to announce our new relationship with Wembley City which demonstrates that Immedia's strategy to provide services to new sectors is paying off. Wembley City is an exciting development with a huge captive audience and we look forward to adding to their customers' overall experience". [more…]
A farmer was at a pub one day having a pint when he noticed an old friend.
What really caught his attention was that this friend was wearing an earring. The farmer knew his old friend to be a fairly conservative fellow, and was intrigued by his sudden change in “fashion sense.”
Ebuzzing & Teads, the fast-growing video advertising company, today announced the appointment of Christophe Parcot, former head of Yahoo! EMEA, as Chief Operating Officer. Christophe will run all sales and publishers teams out of the company’s international headquarters in London in a move to drive operational excellence on a global scale.
A man and his wife walked into a dentist's office.
The man said to the dentist, "Doc, I'm in one heck of a hurry. I have two buddies sitting out in my car waiting for us to go play golf, so forget about the anesthetic, I don't have time for the gums to get numb. I just want you to pull the tooth, and be done with it! [more…]
"Words that come after ‘the dot’ could become just as important as what comes before it" New domain names: a golden opportunity for brands / By Stuart Fuller, Director of Commercial Operations and Communications at NetNamesThe internet is an ungoverned mesh of intertwined networks with very few barriers to entry, yet it provides huge benefits to businesses.
A friend went to Beijing recently and was given this brochure by the hotel. It is precious.
She is keeping it and reading it whenever she feels depressed.
Obviously, it has been translated directly, word for word from Mandarin to English. [more…]