5 Retail Updates you Need to Know Today

On Wednesday and Thursday we attended the Online Retailer Conference and eCommerce Expo. We got to experience first-hand the technology that’s been touted as the future of retail; we’re talking interactive mirrors, virtual reality and smart displays. Pretty exciting stuff! Inspired, we’ve scouted the web for the 5 coolest updates in the world of retail. Enjoy.

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1) Facebook jumps on the buy button bandwagon

It’s been a busy week for Facebook, last week they announced that they plan to integrate buy buttons inside of Pages. They’re also reportedly testing a virtual assistant, dubbed “Moneypenny”, that will help users locate and research products. These updates indicate that the social media giant is joining the likes of Instagram and Pinterest, to tackle ecommerce. This is definitely a space to watch: http://goo.gl/Uys18R

2) Shopping carts masquerading as wishlists

Retail Dive has released a great feature on the role of online shopping carts. Cart abandonment has been a core crisis for companies since the conception of ecommerce. However, research indicates that shoppers are not abandoning carts, but rather using them to save their items. 73% of online shoppers have revealed that they use carts to store things they plan to buy later. While customers are adapting to the features provided to them, these findings support the fact that shoppers really need a smart shopping list to save and track their items. We highly recommend having a read of the article, it provides great insights into consumer behavior: http://goo.gl/Ae3kUW

3) Amazon rival Jet, launches into the market

New shopping website, Jet is going up against Amazon in the war for low cost shopping and continual savings. Jet proposes to offer the lowest prices on the web for millions of everyday products. Their unique pricing model sets them apart from Amazon. Their smart cart feature lowers the total cost of an order as you add to the cart. To put it simply – the more you buy, the more you save. While it’s still early days, that sounds like an amazing deal: http://goo.gl/CwTc1T 

4) Forever21’s latest marketing campaign embraces cool threads

Forever 21 has launched a brilliant social marketing campaign. Best friends around the world are encouraged to tag a photo on Instagram with the tag #F21ThreadScreen to have it displayed on a massive screen made entirely of thread (6,400 spools to be exact). From here, each image is sent back to the user in video form to share on social. Linda Chang, VP or merchandising at Forever 21 said, “Our goal is to drive social reach [for] this campaign. The Thread Screen will naturally drive awareness, but it also shows Forever 21 as a leader in how social networks and technology can be used in completely new ways.” Hopefully this campaign will weave its way into people’s hearts (sorry couldn’t resist): http://goo.gl/LROnry

5) Victoria’s Secret gets chatty

In an effort to offer customers a tailored shopping experience, Victoria’s Secret have added a chat feature to their mobile shopping app. Users can enquire about sizes, stock availability, receive access to their fashion show, live chat with their models and even customise their chat platform with different shades of pink. Chat features are brilliant for offering instantaneous customer support and building community. Indeed, since launching our own chat platform it has become one of our most popular features. We highly encourage everyone to get chatty: http://goo.gl/a63I5g

 

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