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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Quote of the Day: “I don't drink on a typical night, but my choice when I do have a drink is often red wine.”

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13 Reasons Why, the Netflix series about a teen girl’s suicide, has some mental health professionals worried. While some applaud the show for increasing awareness about teen suicide, others fear the series could act as suicide contagion, increasing the risk of an individual engaging in copycat behavior. School districts across the U.S. are sending letters to parents to discuss the show and red flags to watch for in teens’ behavior, while counsellors are having conversations with students and patients. The National Association of School Psychologists has recommended that at-risk youth shouldn’t watch the series, and cautions adults to help teens differentiate “between a TV drama and real life.” (CNN)

U.K. Millennials consider themselves ‘grown up’ at age 27, according to a recent survey by Nationwide Current Accounts. With shifting paradigms surrounding adulthood, Millennials are defining maturity differently, and over half surveyed feel like entrance to adulthood depends on particular milestones rather than age. One in five believe they’re mature when they have children and another one in five when they move out of their parent’s home. Interestingly, Ypulse’s Adulting trend found that paying their own bills is the top sign of adulthood for Millennials in the U.S. (Telegraph)

Millennial shoppers are re-defining retail by purchasing on mobile, returning at higher rates, and ‘showrooming’—selecting clothes in-store then purchasing online—as a part of their “normal” purchasing process.  According to Criteo, as more clothing is purchased online, retailers can expect larger cart sizes at checkout, and return rates as high as 30-50%—which could create an opportunity to get young shoppers back into stores. Successful retailers are ““moving seamlessly between” online and off by covering return shipping costs or allowing in-store returns, innovating their online experiences, and keeping a high volume of product available in both spaces. (MediaPost)

Mexican wine country is becoming a top travel destination for Millennials. Cheaper, artsier, and arguably more authentic than Napa or Sonoma, Valle de Guadelupe is quickly accruing acclaim with twenty and thirtysomethings, who Ypulse has found love their wine. The small strip of vineyards and restaurants is shifting to suit their needs with food trucks, modern art, and even Uber for wine tours, when just a decade ago, the area didn’t even have the necessary roads to facilitate tourism. One winery owner observes, “What used to happen in this part of the world was that no one had anything to do and now everyone has appointments every hour.” (NYTimes)

The restaurant industry currently employs one third of all working teenagers, thanks to a recent uptick in teen employment. According to the Bureau of Labor Statistics, teens made up 35% of all restaurant workers in 2016, the highest percentage since 2009. Teen participation in the restaurant industry was above 50% until the Great Recession when it started a steep downward trend, causing staffing challenges across the industry. But it’s too early to know if the recent boost in employment signals a new trend or is just “a temporary blip.” (National Restaurant Association)

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