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 definitely prefer Apple over other tech brands. I like the compatibility and connection between the different devices including iPhone and laptop along with other users.” –Female, 25, IL

More than half of Millennials say they are single, and for them the hunt for love is increasingly mobile, and more niche. Binger is one dating app that wants to pair up young single homebodies and binge viewers. Rather than asking about broad interests, body details, or Facebook information, the startup would pair up users based on their Netflix viewing data, analyzing compatibility of what shows are watched, how often, when, and for how long. However, because of Netflix’s closed API, Binger can’t exist yet, so they’re running a social media petition using the hashtag #BeAloneTogether to show support for the idea. (PSFK)

Chegg, the country’s leading college textbook rental provider, is “pulling a Netflix” by handing over the majority of their print business; a major step in a plan to become a digital-only platform. The refocus on digital products goes beyond books. Based on the belief that everything students today want is online, Chegg plans to provide digital services like self-guided homework help, on-demand tutoring, college admissions research, and internship placement. Building a relationship with students is the goal, and several other platforms are making similar shifts. (Fast Company)

Millennials' “rebellious” fashion habits are taking a toll on traditionally successful retailers. Companies like Macy’s, Michael Kors, C .Wonder, and Abercrombie & Fitch face identity and financial crises as they’ve drastically lost their coolness factor and popularity over the past few years. The “atheleisure” trend, essentially wearing leisure or work out gear in places that previous generations would have dressed up, has potentially been a factor. Athletic retailers are thriving where “department and discount stores are struggling,” and the trend of being constantly casual is too comfortable to go away anytime soon. (Business Insider)

Millennials are becoming the new generation of parents, and there is a growing divide among parenting styles—perhaps most dramatically between helicopter and “free-range” parenting. Fear of abduction and abandonment has shaped hyper-protective parenting styles and shifted the collective expectation of what it means to be a “responsible, devoted parent.” Although crime has decreased in the past two decades, a recent poll found that 19% thought an unsupervised child in public might be abducted, and over 23% believed that more bad things happen today than when they were growing up. The pressure to be an ever-present parent is strong, with those who leave kids unattended facing legal ramifications and judgment. (Mashable)

To Millennials there’s no such thing as selling out, and more brands than ever are providing opportunities to give the next generation of artists a leg up, and increase their own cool cred in the process. Sour Patch Kids is doing just that with “Brooklyn Patch,“ a tricked-out artist crash pad that offers artists on tour somewhere fun and comfortable to stay for free. In exchange, when resident indie bands like Deer Tick upload digital content—tweets, YouTube videos, Instagram photos, Tumblr posts—during their stay, they use the hashtag #BrooklynPatch. The brand’s goal is reportedly for Sour Patch Kids to become “a part of conversations in culture.” (Vulture)

What if you could collect all the Millennial insights, data, and news that are most relevant to you in one easily accessed spot? Oh wait, you can! On Ypulse.com, the My Library tab is a personalized hub of Millennial content for our Bronze, Silver, and Gold subscribers. Clicking on the star icons next to any insight article, news feed item, or instant poll stat on the site immediately stores them on My Library, creating a repository of relevant information—curated by you. (Ypulse)

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