Interesting Facts Online Versus Offline Commerce

As we have noted before, marketers must understand shopper online-offline psychology. In this post, we add several interesting facts online versus offline commerce.
 

Interesting Facts Online Versus Offline Commerce

Thanks to Josh Wardini for authoring this section of today’s post. And to Shopping.fm for the infographic.

“With the dawn of the Internet, E-commerce retailers tapped into people’s need for convenience and variety. As well as the simple joy of receiving a package straight to the door. Amazon, eBay, Alibaba, and other E-commerce firm pervade the world to an extent that we could not have imagined. Does the success of E-commerce industry spell the end for brick-and-mortar stores?”

“Well, it seems that in-store shopping has its own charm. And it’s not going away anytime soon. As you can see in the informative infographic below, the lion’s share of an average American’s budget, after all, still goes to brick-and-mortar stores.”

“Understanding the meteoric rise of online shopping and comparing it against offline shopping requires some data. What forces drive a person’s preferred channel of purchase? And how do they compare across products, demographics, and stores?”

“When it comes to online shopping, convenience dominates in importance. The ability to shop anytime you want, compare prices with a click, and take your time to make the perfect buy may be easier on the digital screen. However, offline shopping offers the ability to touch/try the product, a primary reason for flocking to stores.”

“A huge part of online shopping depends on product reviews. Even when we’d rather physically make the purchase, many people first check it on the Internet. This is especially true for electronic appliances, gadgets, and gizmos. Yet, keep in mind that omnichannel retailers are taking the lead.”

“Have a look at the infographics for interesting facts and numbers to see how these two types of shopping stack up against each other.”

Interesting Facts Online Versus Offline Commerce
 

Posted in Online Retailing, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 7: Communicating with the Customer | Tagged , , , , | Leave a comment

Mixed Results With Augmented Reality

More than five years ago, we discussed augmented reality (AR). We highlighted the “magic mirror” used in retail stores. At that time, it was predicted that AR would rapidly gain popularity. But, according to new research, there are mixed results with augmented reality. Why?

 

Why the Mixed Results With Augmented Reality 

Consider this discussion by eMarketer:

“Emerging technologies like augmented reality (AR) offer new promise for retailers looking to elevate the shopping experience. But are people interested? According to an eMarketer survey by Bizrate Insights, which polled 1,150 US internet users in July 2018, most respondents have never used AR in shopping. While there are many (48.1%) who don’t intend to, there are also many (42.3%) who would like to.”

“For some, mainstream adoption has already started to happen. According to a January 2018 survey by Ericsson, 17% of augmented reality and virtual reality users worldwide said the technology is already making it possible to get all the benefits of shopping in a store directly on a smartphone. Another 27% believe this will happen within a year.”

“By and large, there are many shoppers who are intrigued by applications like AR-enabled clothes shopping experiences. And other studies, like Ericsson’s, have found widespread expectation that AR capabilities are likely to expand rapidly.”

Mixed Results With Augmented Reality
 

Posted in Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Technology in Retailing | Tagged , , , , | Leave a comment

Early Online Impact of GDPR

As we have reported before, Europe’s General Data Protection Rule (GDPR) went into effect on May 25, 2018: It seeks to protect the personal data of EU citizens. In addition, it increases the obligations of firms that collect or process personal data. Thus, this rule does not just apply to firms based in the EU, but to all firms doing business with EU customers. Today, we examine the early online impact of GDPR.

 

Early Online Impact of GDPR on Leading Firms

Thank you to Sierra Skelly of Siege Media and to Varonis for the following material and infographic. They focus on the early online impact of GDPR on leading companies:

“On May 25th of this year, the European Union officially implemented the General Data Protection Regulation, known widely as GDPR. The regulation made sweeping changes to the online privacy landscape. It chiefly affects how companies may collect and share the personal data of users.”

“The regulation applies to the citizens of the EU. Yet, users across the world found their inboxes flooded with updated privacy policies from companies,. Even those located in the United States. The reason? Yes, the regulation applies to the data of EU citizens. However, it also impacts all companies that collect data from these citizens, regardless of where the firms are physically located.”

“To help better understand the privacy policy updates that filled your inbox in May, Varonis took a look at how company privacy policies changed after GDPR implementation. Specifically, it looked at the privacy policies of 10 tech companies. It studied three variables: word count, reading time, and reading level.”

“Results were surprisingly, given that GDPR aimed to add transparency to how data were obtained. Varonis found that the word count and reading difficulty of privacy policies increased almost across the board. Check out the full infographic below to see for yourself.”

 

The Early Online Impact of GDPR

Posted in Global Retailing, Online Retailing, Privacy and Identity Theft Issues | Tagged , , , , | Leave a comment