Far too many companies in my opinion spend too much time trying to 'revive the dead' instead of 'giving birth' to new opportunities.
I think we can all agree that Covid sorted that mindset out once and for all yet I still see far too many retailers continuing with the same operating model despite all the evidence saying do the opposite.
With the continuing rise in 'shoppable' social platforms like Instagram, we're now starting to see how 'Social Commerce' is already disrupting the traditional retail and eCommerce buying journey by tech, socially savvy consumers.
The innovative in-app checkout feature allows users to store their payment information and make purchases in the app, while brands and businesses can sell their products directly to their target audience.
This means you can activate your consumers while they scroll, browse and buy with next-level convenience and ease, capturing them at peak interest as soon as they’ve seen your product — a marketer’s dream come true, or a route for a reduction in your AOV?.
I once worked on an early eCommerce project migrating a traditional home shopping catalog shopper from mail order to the online space.
Following some research it seemed our previous 'mail order' customers wanted us to include a 'quick order form' - a leftover user behaviour legacy of how they shopped via the catalogue.
The implementation of the 'quick order form function' saw our AOV plummet by 34% and this was all down to reduced browsing activity.
They would flick through the catalogues as previously and add the items to the basket, but a catalogue didn't have all those 'encouraging' features to 'buy more' as the websites did so the AOV plummeted by 34%.
I often refer to China as the current leader for innovation in the retail sector. I also keep a particular eye out for what 'luxury' brands are doing in that part of the world as well.
Everyone knows social media marketing matters in China’s market. But what does it mean when a brand inspires discussions or starts a new trend?
Every social media platform has its own rules, and the preferences of young netizens vary a lot. Therefore, brands must consider using platform-specific marketing strategies. Posting the same commercial clips on all platforms is a waste of resources and a bad look.
Take Gucci, for example. Beginning in early 2020, the Italian luxury brand started launching official accounts on various platforms beyond WeChat and Weibo.
Gucci only won consumers’ hearts back recently, thanks to its Chinese Valentine’s Day campaign. On July 30, Gucci introduced the GG apple print collection, which features a motif made up of two interlocking red letters Gs and was inspired by the phrase “apple of my eye.”
If you take a close look at the luxury battleground in China, the winning brands are the ones integrating online and offline journeys while providing consistent experiences via omnichannel strategies.
Louis Vuitton set a great example of how to build a smooth consumer journey by utilizing both online and offline tools. As a result, the brand’s largest flagship store in China achieved record-breaking sales in August, which was believed to be a recording-breaking month for the China market.
https://jingdaily.com/how-gucci-lv-leveraged-china-to-survive-covid-19/