2014 was a big year for ecommerce. It was the year that many of the ‘hot topics’ turned from chatter into reality. However, in this ‘digitally-led’ world, there is undoubtedly more to come.
So, what were the biggest breakthroughs this year and how can brands build on them?
1. Big data: a mind-set not a ‘thing’
In 2014 many companies got their heads around how to manage data properly. They started to put words into action, thanks to an understanding of what data can do for them, and create data driven strategies. We heard clients talking about data being ‘real’ - a very different, and beneficial, mind-set.
In 2015 big data will keep growing. But no longer will it be recognised as ‘big’; rather, making use of this quantity of data to build granular level, personalised, targeted experiences will simply be the norm.
2. Multi-channel – with mobile at the heart
This last year has seen businesses successfully integrate online stores and bricks and mortar. Silos were broken down and on and offline teams are now working together far more seamlessly. In some cases businesses have been re-structured to make this happen.
In 2015, mobile will be one of the channels in which we will see the greatest growth. We’ll just see mobile’s inexorable growth stats show it tripling by 2018. In the US, Goldman Sachs Group Inc projects mobile shopping sales growing from a current $70 billion value to $173billion by the end of 2018. Retail sales through tablets are expected to triple by 2018.
We’ll see retailers focus on fully optimising the mobile experience to ensure they make the most of the growth. Indeed, more and more stores will be finding smart ways to connect mobiles with bricks and mortar through geo-location apps and special offers to drive revenues.
3. Content really is king
It’s been said for years, but 2014 was the year that companies realised that content is king. Unless you serve compelling, useful, relevant and personalised content, making the most of digital, you can’t keep customers onsite and buying.
This will permeate every aspect of marketing in 2015 and will make marketers’ ‘top priorities’ list.
4. Delivery services taken to a whole new level
This has become a battleground for retailers to differentiate themselves; we only need look at the developments Amazon has made over the last year, forcing others to keep up. Customers now expect to be able to have their delivery dropped off when they want it, at a location convenient to them.
2015 will see checkout optimisation and delivery taken to a new level. Brands will research and use data more smartly to achieve better check out rates. Brands will improve conversion rates, increase basket values and reduce drop outs. They will also use pricing and marketing to avoid giving buyers ‘basket shock’.
Delivery options will become an even greater part of the offering as brands offer more precise time of day deliveries and more options regarding where or how it’s delivered or picked up.
So, 2015 will build on the advancements made in 2014 and take them one step further. Retailers will seek to use ecommerce to its full potential, and will make use of different channels, personalisation, content and excellent customer service to provide the very best offering.
By Steve Grout, CEO of Tangent
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