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: “Calling doctor offices takes too much time. If they don't have a patient portal where I can do everything online, I find another doctor. I couldn't find a dermatologist in my area who didn't require several phone calls, so I gave up.” –Female, 30, FL

Mobile devices are the first thing that 80% of Millennials reach for in the morning, and their digital dependence is seeping into more than just wake-up media. 88% have or would deposit a check by snapping a picture of it and 45% would want to pay bills the same way. The camera is the number one most important smartphone feature among this generation, and 33% even think a photo of their driver’s license could be put to good use as a way to enroll in anything from gym memberships to credit cards. (USA Today)

While online dating seems to give Millennials increasing hope of a modern day “happily ever after,” their happiness may be short-lived. Researchers from Stanford and MSU have found that breakups are more prevalent among couples, both married and unmarried, who met online than those who met in more traditional social settings. These stats are credited to simple facts: the mystery and risk of who is behind the other side of screen causes online relationships to take much longer to form into something real. (Jezebel)

To help heighten Millennial traffic, Jack-in-the-Box will feature an instant-win game promotion with prizes ranging from date night movie tickets to a two night VIP experience in Las Vegas. These big ticket offerings will capitalize on the healthy performance of their late-night menu, accounting for 16% of their sales in the first three quarters of this year. The chain has lost its once strong hold on the late-night market, and hopes to regain Millennial consumers with a menu of savory, mash-up items that they may not crave for lunch or dinner but become must haves after dark. (Huffington Post)

Millennial parents are more practical than ever, a trend we explore in-depth in the new edition of Ypulse Quarterly releasing tomorrow. Upcycling used clothing and embracing swaps are the kind of sustainability minded and money-conscious initiatives they support, so it’s no wonder that Kallio, a children’s clothing line made entirely from upcycled men’s shirts, reached its full funding on Kickstarter today.  The Brooklyn-based brand intends to invest in both the clothing line as well as a community workshop to teach sustainable design technique. (Fast Company)

While social media platforms like Instagram and Twitter seem to be dominating for innovative marketing efforts, Facebook still holds steady ground. In a small study of marketing professionals, digital platform Offerpop found that 92% of social marketing budgets will be spent on Facebook this holiday season. The survey from Offerpop also shows that 16% plan to spend money on Snapchat, but finds that 48% are hesitant to invest their budget in untested networks such as Yo and Wanelo. (The Drum)

Every other week we tap into our panel of 150,000+ Millennials in a survey of 1,000 14-32-year-olds to keep our finger on the pulse of trending topics, changing attitudes, and new norms among young consumers. The question library in the My Library tab on Ypulse.com allows Silver and Gold subscribers to see every question we’ve asked and how we’ve asked it for our entire history of bi-weekly surveys, and a search of Ypulse surfaces all the relevant related data that we’ve collected from young consumers. (Ypulse)

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