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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The Newsfeed

“My generation feels entitled and is less willing to put in hard work to get the results they want.”—Female, 17, VA

CoverGirl is getting a marketing makeover to impress Millennials. The brand is changing up their slogan for the first time since 1997, with “Easy, Breezy, Beautiful Covergirl” getting traded for “I Am What I Make Up.” To go along with the new tagline, an inclusive lineup of new CoverGirls will debut the revamped brand—from 69-year-old Maye Musk to pro motorcycle rider Shelina Moreda. Finally, products will be taking on the Less is More trend with “sleeker, more minimal black and white packaging” and a logo to match—a familiar branding makeover move. (Racked)

Riverdale’s recent premiere pulled impressive ratings, especially among young adults—and the show may have Netflix to thank for it. The Archie-remake grew in popularity by 67% from last winter’s premiere and 140% with women under 35. But it gained the most ground with teens, jumping an impressive 467% from last winter’s premiere, making it the most popular show from The CW among teens since The Vampire Diaries in 2012. The show’s presence on Netflix during the off-season may have helped attract young viewers, allowing them to binge the series and get addicted on their time—The Binge Effect at work. (Vulture)

Essential oils are the latest wellness trend to gain traction, appealing to Millennials’ desire to ease anxiety. The most stressed generation to date is turning to little vials of “something between a perfume and a potion” to calm their minds and remedy simple sicknesses. Companies aren’t missing the opportunity to capitalize on the growing demand. Two major brands, Young Living and doTerra, “have more than three million customers apiece, and a billion dollars in annual sales.” (The New Yorker)

The majority of teachers say that life skills are more important to success today than academics. According to research out of the U.K., more than half of teachers believe so-called “’soft’ skills,” including perseverance, the ability to problem-solve, and communicate effectively are more important than “academic knowledge and technical skills.” Unfortunately, institutions often focus on test scores instead of “social and emotional learning, or character.” The good news is groups are pushing for change and “teaching ‘character’ is taking hold everywhere.” (Quartz)

Throw that “Me, Me, Me Generation” stereotype out the window, because Millennials are probably not any more narcissistic than previous generations. (Sorry, Time Magazine.) A report published in Psychological Science compared students from a ‘90s study with students in the 2000s and 2010s and found that today’s youth are “at best” equally as self-involved as young people of the past, and may actually be less narcissistic. The professor who led the study reports, “The kids are all right. There never was a narcissism epidemic, despite what has been claimed.” (Uproxx)

“My love of video games and knowledge of technology and streaming naturally eased me into the world of esports.”—Female, 23, FL

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