The global landscape of e-commerce is evolving, and so is the consumer habits.
And what makes an e-commerce business stand out among thousands of others? – going global and mobile.
But there is another essence that should be emphasised here – personalisation. Make shopping more personal and absolutely no room for spams.
Me-commerce is all about the personalisation of online shopping experience. While the concept is not new, we are seeing more and more e-commerce embracing ‘me’-factor.
Yap, me-commerce is going to stay, according to Entrepreneur.
The millennial generation is looking for more ‘differentiation’ in shopping experiences (see Forbes). It could be reflected in prices, offers and other kind of unique shopping experience.
Today’s consumers are becoming more demanding, tech-obsessed and often time-pressed. It’s the selfie-obsessed generation we are talking about.
Apparently, a study shows that ‘‘Retailers typically experience a 10 percent ROI’’ when using a personalised ad campaign based on the shopper’s shopping history (see Entrepreneur).
We need to understand what the next demographic group is thinking. The infographic created by McKinsey & Company highlights 4 Ps of consumer habits.
Today, personalisation is not the only thing that defines consumers. But they are also ‘pervasive’, ‘participatory’ and ‘prescriptive’ (see the infographic).
- Personalisation – consumers are looking for something relevant and personal.
- Pervasive – people can shop everywhere they want, let it be in bed or library, using mobile phones or tablets.
- Participatory – consumers are active in sharing and commenting, making stores and businesses more transparent.
- Prescriptive – apps, social media and internet are empowering consumers, giving them a control over the shopping process.
How to master in all of them? Not an easy job.
But the key to all is how well a company can integrate technology to understand individual shopper and deliver the most relevant product list and content.
Take a look at the infographic to grasp the idea of what consumers are looking for from the future of retails.
What do you think?