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: “My favorite app is Snapchat, because it offers quick messaging with a time limit that ensures privacy while being highly entertaining.”—Female, 20, FL 

If you want to know what teens are doing online, don’t ask their parents. A survey by the National Cyber Security Alliance found that 60% of 13-17-year-olds have a secret online account they say their parents know nothing about, while only 27% of parents suspect their kids have one. This statistic will likely worry parents who are increasingly monitoring online behavior. About 67% of parents say they have a rule in place for kids to be open with them about any “sort of uncomfortable or scary incidents that occur online,” however only 32% of teens surveyed say that such a rule exists in their household. (CNET)

Millennials around the are not only passionate about global issues, but ready to take them on. A World Economic Forum survey found that seven in ten 18-35-year-olds see abundant opportunities for themselves and their peers to tackle global issues, and half believe they have decision making power in their home countries. When the WEF asked about the three most serious issues affecting the world today, Millennials had the same response as the year before: religious conflicts came in third with 33.8% of responses, large scale conflict and wars came in second with 38.5% of responses, and climate change and destruction of natural resources was the top response with 45.2% of respondents. (Business Insider)

Outlet malls are thriving, and it’s all thanks to men and thrifty Millennials. According to Cowen & Co.’s latest Consumer Tracker Survey, outlet visitation by 18-34-year-old men reached a new peak of 44% in July, most likely due to male preference for brand stores over department retailers. Overall Millennial visitation is also up: on average, 31% of 18-34-year-old women and 35% of 18-34-year-old men say they visited an outlet mall every month between December 2012 and July 2016. An analyst of NPD Group attributes the trend to frugal Millennials who would rather save their cash for experiences. (MarketWatch

Teenage girls with depression or anxiety “are less alone than ever.” The Department of Education has revealed that these mental illnesses are a slowly growing epidemic among teen girls in England: about one third report having depression or anxiety, a 10% increase over the last decade. Social media pressure, bullying, and unrealistic body expectations are all cited as factors, which have especially effected young girls all over the world. In America, the Substance Abuse and Mental Health Services Administration reports that teen girls are three times more likely to be depressed than their male counterparts. (Teen Vogue)

Instagram has made connecting with consumers even easier for brands. The platform’s new “contact” button allows users to call, text, or email brands through their profiles. According to a social media specialist, “social…is a brand’s first line of defense—both for reputation management and customer service,” and the new button eliminates the hassle of having to respond to each individual comment. Brands like Nordstrom, Delta, and Denny’s are already utilizing the new feature. (Digiday

Quote of the Day: “My favorite app is Pokémon Go, because it's kinda a big deal for those of us who've been dreaming about it for over a decade.”—Female, 21, NJ 

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