Broadmind from PSFK

[New report] Multi-Platform eCommerce Strategy


Listen Later

With consumers increasingly spending their time on social media, streaming platforms, and other digital channels both creating and intaking content, retailers as a result are garnering less consumer attention on their eCommerce sites. Brands have the challenge and opportunity to evolve their eCommerce strategy to meet consumers where their target consumers are, adapt their messaging to speak to their desired customer, and develop content that fits within these digital environments and creates a seamless experience. While already popular in other parts of the world, emerging opportunities like livestreamed shopping and super apps that provide a personalized experience are gaining mainstream adoption to engage today's digital shoppers and potential customers. From brand fan communities and personal shopping bots, to a live streamed mobile experience, services that elevate the customer experience will define the next era of ecommerce businesses and the shopping journey.
In order to meet the unique challenges of selling online in a rapidly shifting consumer landscape, retailers are actively exploring how best to integrate new payment methods securely, provide on-demand customer journey assistance, and foster loyal customers in third party environments beyond the retailer's online store through a unified experience across multichannel commerce. To do so, brands and retailers are increasingly looking to online channels, streaming platforms and mobile app leaders for innovative commerce practices. As a result, brands are cultivating an engaged consumer base and designing their successful omnichannel strategy based on actual consumer feedback and data driven consumer experience insights.
With the growing demand and necessity for digital commerce channels and capabilities, retailers have been quickly transforming their operations and strategies to go beyond the convenience and utility of eCommerce to offer experiences that deliver personalized support, entertainment and a great sense of community. As the online world continues to become more inclusive, retailers are meeting their customers on the virtual platforms and tools of their choice, no longer limiting who, where, when or how a consumer can transact and providing a consistent experience. Meanwhile, service providers are creating more and more omnichannel retail tools to make it easier for consumers to pay, engage, shop and create on digital commerce channels. In this report, learn how to take advantage of anywhere eCommerce, how to cultivate an engaged fan base, and what social platforms and service providers are helping reach consumers on their own terms by enhancing the online experience.
In this report, the PSFK iQ research team explores the tools, technologies, and solutions brands and retailers are using to influence, engage, transact and connect with consumers across an omnichannel ecommerce and social commerce landscape. Through five featured trends and highlighted marketplace examples, this report will help your organization develop a strategy that provides elevated engagement for customers as they engage with your brand in the digital domain.
Proprietary Insights With This Report
Today shoppers want engagement from brands and retailers in the same places that they are social or where they are consuming entertainment and news.
  • Only 33% of online US shoppers prefer to click through and buy a product on a brand or retailer’s eCommerce site when that product is discovered on a social media or news site. 25% prefer to buy the product without leaving the social media or content platform, and 13% are still inspired to go buy the product in store.
  • Already widely used in Asia, livestream selling in the West is slowly emerging as an engaging retail tool.
    • 56% of US shoppers have used a livestream to shop online, and 31% of those shoppers say they are more likely to buy a product that they discover it on a livestream.
    • Expecting convenience across all digital checkout points, consumers are finding ways to remove friction from the payment process.
      • 29% of US consumers are or plan to use shopping assistants (bots) in the future.
      • Shoppers are engaging in forums and other community spaces to learn more about products.
        • Research shows if a US shopper was to join their favorite brand’s online community, engagements that they would expect include redeemable coupons (46%), to receive a token or digital asset for participation (32% of shoppers), guaranteed access to products prior to selling out (32%), promotions about the brand’s product (28%).
        • ...more
          View all episodesView all episodes
          Download on the App Store

          Broadmind from PSFKBy PSFK's Broadmind

          • 4.9
          • 4.9
          • 4.9
          • 4.9
          • 4.9

          4.9

          9 ratings