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: “Mint.com is amazing. I love that I can link accounts to goals, it automatically categorizes my purchases, and it has all my accounts in one place (I have 17 linked!!!) I rarely go to individual websites anymore except to make a payment or something, since all my transactions are in Mint.” –Female, 27, VA

J.K. Rowling’s novel Fantastic Beasts and Where to Find Them, an extension to the wizarding world set a century before the Harry Potter brood entered Hogwarts, will breakout on-screen in a trilogy directed by none other than esteemed Potter director, David Yates. Fantastic Beasts and other novels from Rowling haven’t lived up to the Potter fandom, but putting back together the team that made Harry Potter come alive for audiences regardless of reading the books prior, might do the trick to attract viewers come November 2016. (MTV News)

Car buying is a big step for Millennials, and since they often don’t know what they’re looking for right off the bat, researching online is vital for product and dealer comparisons. 95% of Millennials use the internet to shop for vehicles and half are researching cars on their phones, compared to only 19% who were using smartphones to auto shop last year. Brands and dealerships are having to rethink their online strategies with the rise in mobile shopping, since having a mobile site that functions poorly is much worse by Millennial standards than not having one at all. (MediaPost

Capsule collections are still a big draw for young consumers, excited by the rush of limited-time-only launches and the ability to buy designer items for less. The Altuzarra for Target collection debuted its lookbook online this week with increased excitementfrom fashion publications, but one blogger was majorly disappointed by the lack of plus size options and decided to start a #BoycottingTarget movement. Her frustration comes after a recent sweep to remove plus sized lines from Target stores, and while the brand promises for a “new plus line in the near future,” shoppers are still upset. (Jezebel)

Current consumer culture is based on the Boomer ideal of big cars parked in the driveway of a big suburban house, but Millennials’ pushback on entering adulthood and moves to urban centers are a sign that products and marketing must change to fit their needs. Brands from mattress companies to Pepsi to General Mills are revamping packaging, reformulating products, and considering marketing tactics like sponsorship of music concerts or online quizzes to approach this generation “on their terms.” (NY Times

Anonymous app Secret has come under fire as a rumor mill for bullying, and a judge in Brazil has ordered Apple, Microsoft, and Google to make Secret unavailable in their app stores to people in Brazil. The judgment was brought to light following reports of students wanting to leave school because of rumors spread on the app. Since technical implications to remove Secret from users’ phones may not be feasible for app store providers, preventing the trend of anonymous bullying from growing globally will be difficult without cooperation from the app’s founders. (PandoDaily)

Infographics add to the story of this generation’s behaviors and views by synthesizing complex data into quick, visual bites. Our Gold and Silver tier subscribers are given access to our regularly published Infographic Snapshots, like this week’s breakdown of back-to-school spending. Using stats from our proprietary bi-weekly survey data, we make sure you know exactly where your Millennial target audience stands in a quick and easy way. (Ypulse)

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