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
Mobile payments company iZettle, is today launching a marketing campaignwith Forsman & Bodenfors (F&B), one of the best advertising agencies in the world.
iZettle is the first mobile payments company in this space to do a big marketing push. Together with F&B it has created a campaign that centres on the notion that ‘big things start small’.
The campaign showcases that iZettle empowers small businesses to be the best they can be and highlights that SMEs can run their business and take card payments on a smartphone or tablet anywhere in the world using iZettle. These messages will be conveyed via TV, radio, print and digital adverts.
Today, the world is dancing to the tunes of technology. One such element of technology that has connected the globe in a swirl is video conferencing. You cannot deny the superb benefits that this technology is bringing to the world.
From delivering a tangible return on investment to reducing the cost of traveling and saving time, this technological development has opened up horizons for its users.
If you believe designer Alexander Wang, all the dystopian, futuristic fashion you see on the silver screen in the latest Sci-Fi epics aren't visions from tomorrow, they represent the look of 2014.
That was the message on Thursday when Wang live streamed a runway show from his website, officially launching his collaboration with retailer H&M. The tech-enabled, live event is unique in that it essentially bypassed September's Fashion Week, opting for an Apple iPhone event-style launch, catering to the mainstream, connected consumers both companies hope to reach [more…]
We sample your website traffic every day so you can see critical trends by key metrics like Unique Visitors, Average Order Value etc. But, in addition to your own data, you are able to benchmark these metrics against other retailers who are in a similar market to you. It's anonymous, totally secure and it won't slow down your website.
Real-time marketing specialist launches following successful beta
Trigger Buzz, a specialist in real-time marketing, today announced its official launch along with the involvement of Greg Delaney, Mark Lund and Malcolm Green who’ve invested in the business and have taken roles on the company’s board.
Trigger Buzz will be led by founder and managing director Stephen Wise alongside head of operations Tom Maverley, with Delaney and Green offering creative support and direction. Lund will provide commercial expertise.