01/27/2021 | News release | Distributed by Public on 01/27/2021 06:38
Our UK team partnered with Increasinglyto host an exclusive lunch and learn session, where we explored the new rules of ecommerce in a post-pandemic landscape and how to set up for success in the year ahead.
James Maley, Head of Publisher Development at Tradedoubler was joined by Sri Sharma, Co-founder and CEO of Increasingly, to share learnings from 2020, predictions for 2021 and how to resonate with a post pandemic audience.
For anyone that missed the event scroll down to the bottom of the article to sign up for a free access to the recorded webinar.
2020 definitely brought out the RE in retail. A rollercoaster year meant that retailers had to reinvent themselves, reimagine customer experiences and rethink business models.
A year, that brought unique opportunities to challenge the things that held brands back in the past.
Brands that have thrived during this pandemic, have invested in their digital customer-centric investments and linked them to KPIs and growth. But most importantly, they have connected with their customers and put people over profits. Those businesses will not be forgotten.
According to Sri Sharmer, CEO at Increasingly, there is no retail apocalypse, but certain sectors of retail are clearly being radically transformed. He identified three emerging trends:
Generally, brands that thrive specialise in one or two of these core areas. Brand, Experience, Price and Convenience (providing a frictionless shopping experience).
Retailers need to decide who they are and specialise in either increasing pleasure and play to brand and experience, or price and convenience, it's rare to excel in all four.
Facebook is investing heavily into Facebook commerce. To buy directly on social media platforms will become commonplace, meaning online stores will lose the ability to influence customer experience on-site and if retailers don't sell their own product it's hard to be noticed unless they invest heavily in advertising on these platforms.
Research found that retailers will heavily invest in AI tools that allow them to differentiate and improve the services they offer customers. These range from automated marketing platforms that generate tailored, timely offers, to chatbots that provide instant customer service or serving more relevant products to customers based in real-time.
Increasingly helps retailers drive basket revenue through their AI platform that intelligently sells bundles and collections on-site, in-store, and in Google Shopping and Facebook ads. Customers aren't shopping for a single product, they want to complete a new fashion look, beauty regime or DIY project. Their technology is completely automated, standalone and drives +15% in revenue by improving AOV by +50% and delivering x50 ROI.