Why Should You Attend Shopify Plus’s Commerce+ Event? The Biggest Takeaways From Last Event
Table of Contents
- Investors Endorse their Ecommerce Strategy
- How AR will Transform the Online Retail Space
- Building Hype while Creating Standout Brand Experiences
- Creating Customer-Centric Experiences
- Strategies to Future-Proof Your Brand
- How DTC Brands Build Customer Loyalty
- The Future of Retail Spaces is in Human Connection
Last year, ecommerce came back with a new format. Ecommerce is a digital open event that will feature product announcements and insights from e-commerce experts around the world.
Wondering what kind of leadership you can expect? These are just some of the lessons learned from the latest ecommerce event.
Investors Endorse their Ecommerce Strategy
Like any industry, ecommerce can be a nation. It has its own unique culture and language, with buzzwords such as personalization, omnichannel, A/B testing, and conversion rates weighing in for insiders but almost nothing for outsiders.
So, what happens when you have foreign visitors who don’t speak a language like yours? And what happens when those visitors are your investors only to outsiders?
This was the topic of Zack Werner’s Commerce+ talk. As a table group – a digital consultancy that generates enterprise value for companies using technology, data, and ecommerce strategies.
Forget the words and let the numbers speak.
Werner cited the example of retail clients investing in technology that offers dynamic personalization to improve conversion rates.
How AR Will Transform the Online Retail Space
Once upon a time, customers couldn’t invest in a lamp without seeing it in person. All this has changed with the use of augmented reality (AR) in online shopping. Not only does it allow customers to view a detailed multidimensional version of the lamp, but it also allows them to have a photovoltaic 3D model in their home.
Home furnishings are not the only AR category. Consumers are more likely to buy any product first, and it is estimated that 19% of consumers are already using AR and Virtual Reality (VR) for this purpose.
- Enhanced reality can be cheaper than traditional photography.
- AR can be used to make products.
- AR can reduce high conversion rates and return rates.
Building Hype while Creating Standout Brand Experiences
Usually associated with flash sales or product launches, the “hype” is difficult to define and difficult to prepare. Streetwear brands and technology giants specialize in the hype, seemingly easily limited release shoes, or expect the latest phone.
But when Kith CEO, Nick Annacone and Studio Institute’s creative director Nate Brown met at Commerce +, they agreed that hype is not just about marketing or selling, it’s about creating an experience and telling a story.
Here are the top tips to make sure your products or brands are one that people can’t stop talking about.
- Don’t choose collaborative partners.
- Remember that business and art are inseparable.
Creating Customer-Centric Experiences
It doesn’t matter if you only work online or you have all kinds of experience including brick and mortar stores, the only way to build a successful business is to keep your customer experience in mind.
- Connect with customers through continuous brand experiences.
- Building consumer trust is crucial.
Strategies to Future-Proof Your Brand
When Mark Bergen of Shopify gave his e-commerce presentation on what businesses can do to prepare their brands for uncertainty, there is no way he can predict what will happen in the coming years. Including an epidemic, supply chain disruption, shipping disruption, and an increase in online fraud activity
Ecommerce may be booming, but now it’s more important than ever to prove your business to the future by providing the best experiences for your customers. The top part of the advice on how to do this was Bergens.
- Take advantage of automation to provide a consistent brand experience.
How DTC Brands Build Customer Loyalty
The world of e-commerce, as it turns out, is not, unlike online dating. Just as singles can swipe left or right, brands are now in a place where competition is just a click away. It can also feel like when a buyer leaves their cart or makes a purchase, they never come back.
- Make sure you stand out from the competition.
- Have a multi-channel strategy
The Future of Retail Spaces is in Human Connection
Ecommerce may be outpacing physical retail in terms of growth, but physical stores continue to dominate in terms of actual sales.
One element that’s often lost during online shopping is the human connection, which online retail marketplace founder Ross Bailey understands is critical to building brands. Here’s what else we learned during the presentation.
- The human connection will continue to be important in retail spaces.
Ecommerce may surpass physical retail in terms of growth, but physical stores continue to dominate in terms of actual sales.
One factor that is often lost when shopping online is human contact, which Ross Bailey, founder of the online retail marketplace, believes is important for brand building. What else did we learn during the presentation?
- Human contact will be important in retail spaces.
Bailey reported that in 1990, 92% of leases were 10 to 20 years in length, creating an enormous financial burden. Currently, the choice is between pop-up retail versus long-term retail, with future potential for pay-as-you-go spaces.
Deepak Wadhwani has over 20 years experience in software/wireless technologies. He has worked with Fortune 500 companies including Intuit, ESRI, Qualcomm, Sprint, Verizon, Vodafone, Nortel, Microsoft and Oracle in over 60 countries. Deepak has worked on Internet marketing projects in San Diego, Los Angeles, Orange Country, Denver, Nashville, Kansas City, New York, San Francisco and Huntsville. Deepak has been a founder of technology Startups for one of the first Cityguides, yellow pages online and web based enterprise solutions. He is an internet marketing and technology expert & co-founder for a San Diego Internet marketing company.
