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 everyone will have those and I don't like having what everyone else has.” –Female, 27, FL

The future of the on-demand economy is shaping up, and soon anything you might need or want, from toothpaste to kittens, could be delivered to you in a snap. Grocery delivery app Instacart tapped into this “I want it now” mentality for some smart Halloween marketing: Seattle residents can use the app to order last-minute costumes that arrive in one hour. The startup conceived the campaign after receiving costume requests from many of their customers, and the service will be active until 8pm tonight. (Instacart)

Last week, we wrote that brands could learn some marketing tricks from Taylor Swift, and her social media skills continue to impress. Vulture has a break down of why Swift is the “reigning queen of celebrity social media,” where she acts like her fans’ best friend, interacts with them personally, and uses each platform the way they do. On Monday, she used Twitter to put those fans in the spotlight, reposting pictures of them posing with her new album on her own feed with the hashtag #taylurking, a reference to the fact that she was lurking on her followers’ profiles. (Vulture)

Older Millennials grew up with the internet, which means they remember its humble design beginnings, and how social media got its start—after all, they were at the center of it. The internet has come a long way in a relatively short time, but there is a growing nostalgia for Web 1.0, the good old days when “everything was smaller,” “close-knit,” and “DIY.” This nostalgia is fueling the design of some of the newest apps and networks, which emphasize intimacy, self-expression, and minimalism. (Gizmodo)

Young consumers have a different set of retail experience expectations, and while many till prefer in-store, there is no doubt that mobile and online are a very big part of their shopping behavior. So what are their digital retail tastes and habits? 55% use multiple devices to shop, and 71% of females do their online shopping at home versus the 77% of males who do it on-the-go. Their biggest frustrations include slow load times, slow checkout, lack of interactive features, and small/fuzzy images. Those images are important—55% overall, and 72% of females, say they “couldn’t live without pictures when shopping on mobile devices.” (Inc.)

Richie Rich is being rebooted for a new generation. A live-action Richie Rich show from AwesomenessTV is coming to Netflix in 2015. The story of the self-made child millionaire was first a comic book in the 1950s, then reinvented for ‘90s kids in the movie starring Macaulay Caulkin. In this modernized iteration, Richie is a trillionaire who earned his bucks inventing and selling green technology. (KidscreenMashable)

You've got questions, we've got answers. Silver and Gold subscribers have access to Ypulse's trend and Millennial experts for quick, personalized feedback on any topic. After each insights article on Ypulse.com, subscribers can submit questions and requests directly to our experts and receive instant responses. Whether they want to dig more deeply into a topic or better understand the implications for their brands, we're there to help. (Ypulse)

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