Five Things You Need To Know to Prep for the Future of E-Commerce

Despite the presence of well-established online retail giants like Amazon and Zappos, the e-commerce world is a still rapidly shifting and developing space. In many ways, brands and consumers alike are still catching up with the potential that the technology available to them allows. Here we’ll take you through five of the big things that could change the e-commerce game.

1. The Fight Against Showrooming:

This March, a specialty food store in Brisbane, Australia gained international notoriety for posting a sign in their store announcing that visitors would be charged a five-dollar fee for browsing without buying. Why? To combat showrooming, the practice of looking at products in-store to then purchase for less online. According to Adweek, 60 percent of consumers are intentionally showrooming and less than ten percent of consumers are buying from the same website as the store they are using to showroom. For digital natives (i.e. Millennials) that number drops to less than five percent. The browsing fee plan of the Australian store may have been misguided (charging people to browse your goods is not a permanent solution to the problem if you want to keep people coming to your store), but the fact remains that big-box and small business retailers alike are trying to combat showrooming. Best Buy says that the practice is “now dead to [them]’ thanks to year-round price matching policies, a method which Target has also adopted. Brick and mortar isn’t going anywhere, but it is certainly going to have to adapt to a world where buying online is starting to make more sense to many buyers. Which brings us to…

2. A Mobile App Revolution:
More and more of e-commerce will be going mobile. A recent study from comScore also found that 86 million Americans are using their smartphones to shop…

 
 
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Millennial News Feed

Quote of the Day: “I won’t buy an already-made costume to dress up in for Halloween because most of the ready-made options for women are overly sexualized.” –Female, 19, TX

She's a Barbie girl, but it's not exactly a Barbie world. It’s been a hard year for the blondest toy, as we’ve detailed before, and sales of the doll have continued to fall, dropping another 21% in the third quarter of this year. American Girl doll sales also dropped during that time period, and the struggles highlight how the “affections of the target audience—little girls—can be fleeting.” But there are plenty of other potential reasons for Barbie’s tough times: Girls today want edgier dolls, and spend more on tech toys. (Huffington PostBusiness Insider

If done right, young consumers have proven they will continue to buy tickets to see superheroes on screen, and there are a lot more of these movies in the works. This week, Warner Brothers announced plans for 10 new DC comics superhero movies over the next five years, including Wonder WomanAquaman, and The Flash. A movie featuring Lego Batman is also being fast-tracked for next year, so kids and adults alike can look forward to another fix of awesome. (Wired)

It’s 13 days until Halloween, and this year could be the most costume-filled holiday ever. A recent survey has shown that over two thirds of Americans plan to buy a costume, the most in eleven years. The fact that Halloween falls on a Friday has likely been a factor in the boost. Ypulse’s own most recent bi-weekly survey found that 36% of 13-32-year-olds plan to don in a costume to celebrate, 30% of those who plan to dress up will buy a pre-made costume, while 54% say they will purchase some items to make a costume of their own. (Ad Age)

MAC cosmetics is creating an entirely new kind of store that will target today’s teens and tweens. The stores will be designed completely differently to appeal to the younger consumers, including a “major focus on selfies” and a table full of products to sample on the spot. When explaining the new approach, global brand president Karen Buglisi Weiler told WWD, “One store doesn't fit all…You have to be in the world of customization and relevancy now." The first location opened over the summer in Orlando, and is reportedly already one of MAC’s top five stores in North America. (Racked)

Some of the hottest tech startups today are part of the “photo economy.” Millennials and teens have made their penchant for visual communication clear, and helped to make multiple photo sharing apps into huge success stories. Now entrepreneurs are fighting into the space with photo apps that put an emphasis on “storytelling, shopping, and storage.” Competition is tough, and so far the many startups that have tried to make photos shoppable have not succeeded. But still clearly the apps to know next will likely have something to do with this picture-obsession. (Fast Company)

Did you know that thanks to our bi-weekly survey of 1000 14-32-year-olds nationwide, we track trends in social media, entertainment viewing, earnings, spending, and more? Our Silver and Gold subscribers get access to regularly updated charts following average daily spend and items purchased broken out by age and gender. We do the heavy data lifting, and we’re constantly adding new data to our trends. (Ypulse)

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