Tech Effect On Shopping

Without a doubt technology makes our lives better, simpler, easier. It allows us to be more effective and efficient in everything we do. Whether that is on our jobs or in our homes, technology is everywhere. And now it is changing the way we chop.

In-person shopping is being transformed by technology in ways that make us smarter shoppers. That includes finding features and benefits about products, reading reviews, asking our friends what they thing and even shopping for best price. Technology is enabling consumers to be in charge.

Technology is everywhere in the retail experience and that goes beyond the Internet and Mobile technology. Impressive inventions that will transform the in-person shopping experience, making it more interactive, personalized and helpful are on their way. These include intelligent mirrors (“Magic Mirrors) that can display how an outfit will look on you (without actually trying it on). This technology will suggest accessories and point you in the direction of similar items. If your product isn’t in stock, you will be able to make it with a 3D printer. Yes, consumers can use 3D printing technology to create their own products on the spot, such as towels, utensils and clothes. No room for an actual store, set-up product vending machines to act as your store. We see this being done by technology giants Best Buy, Apple and Sony.

Nothing is changing the experience more that the Internet and that means on your desktop and on your phone. Retailers are launching apps that enable shoppers to browse merchandise, scan bar codes or QR codes to learn more about products and inventory, and with the help of near field communication (NFC), pay for purchases.

As consumers get smarter so must your sales associates by putting technology (mobile) in hands of associates. Mobile devices and tablets will allow associates to check prices and inventory. Mobile will enable associates to check shoppers out anywhere in the store, see and Apple and Nordstrom stores.

The tech effect is everywhere and cannot be stopped. It is the retailer’s job to understand the technology, create a strategy around the technology, invest in the technology and embrace the technologies that will have a positive impact your operation.

By Steve Rockman


Mobile Shopping Trends

Without a doubt the biggest challenge retailers have heading into this “Black Friday” and “Cyber Monday” is how to deal with are the challenges / opportunities mobile devices pose. 2007’s launch of the iPhone changed the way shopping would be done in the future.

Today the iPhone has spurred on a smartphone industry that includes; iPhones, Android and Microsoft devises and even Blackberry is making a comeback. We see consumers carrying both phone and tablet technology into retail spaces, but maybe even more importantly they are using these devises to shop from, home, the office, the car and even while walking. Smartphone sales have even overtaken the sales of PC’s.

According to Nielsen’s “”Who is the mobile shopper” report, as of Q1 2013, 84 percent of mobile consumers have used their devices to shop within the past month, which is up by 5 percent compared to the same quarter from last year. Some of these mobile shoppers even stated that they do their online shopping mostly on their mobile devices than on their PCs.

There are a myriad of studies that will point to growth of smartphone sales or increases in mobile transactions, which is all to point out that retailers and product marketers need to be studying, planning and developing plans around the mobile consumer. There are many challenges that face the mobile marketer today. What is the role of this technology to your business or how do you learn and capitalize on the features within the phone?

The first question that needs to be addressed is how do we balance in-store sales with digital sales. In a report from Business Insider, it was stated that brick-and-mortar stores are in danger because of “showrooming”. Showrooming is consumer going to brick and mortar location to see a product then going online to buy that product. And not necessarily from the retailers digital location.

Last year, JC Penny reported a 32 percent decline in same-store sales because of showrooming, and it is expected that the numbers would just get worse as more people embrace mobile shopping.

Why is this happening?
1. Digital is open 24/7/365
2. Online price comparisons

Rest assured all is not lost. There are a few trends that will allow for marketers to be in the mobile game.

Trend 1 – Geofencing & NFC (Near Field Communications)
Geofencing technology allows for the real-time delivery of promotions to consumers right on their mobile devices when they are in the vincinity of a retailers location. Consumers just have to be at the right spot, like a few feet away from a retail store, to receive relevant notifications. To get the discount or free item, they just need to present the promo code or the message they received from their phone. This technology will get people back in retail stores, hopefully enticing people to buy more items from the shop.

Near-Field Communication (NFC), is also rocketing into the mainstream. This technology allows mobile users to transfer information from their mobile devices to card readers in a store that supports NFC which will allow customers to pay with their mobile phones. Experts expects NFC to be the most widely used mobile payment solution by 2015.

Trend 2 – Price Comparison Will Become Automated, Reviews Will Be Centralized
Shoppers want to know that they are getting the best possible price before they make a purchase. Already there are dozens of mobile apps that help shoppers make price comparisons. Look for future applications to use information about a person’s tastes or buying habits to automate price comparison.

After price comparisons, mobile shoppers are likely to look for user reviews before making a buying decision regardless of whether they are planning to order online or pick up an item from a brick-and-mortar store.

Look for review sites that consolidate reviews to emerge. This will offer shoppers the option to see product or vendor reviews from a number of sources through a single interface on their phone.

Trend 3 – Social Media Via Mobile
Consumers need advise, opinion, research and help with decision-making on their purchases. They are doing this through social media. Social media integration and intelligent assistants like Apple’s Siri on mobile devices are expected to offer the same user experience as home computers. Consumers are taking pictures in your locations, they are posting, they are looking for reviews and they are asking opinion.

It is the marketers responsibility to have an active social media presence and provide the information the consumers is looking for in a easy to find, accurate, no-frills, none selling manner. Have a social footprint on all social channels and treat those channels as a sales associate.

Trend 4 – Mobile As Point-Of-Sale
Consumers are already using their mobile devices to research products and compare prices. So, mobile transactions are an obvious next requirement from the mobile consumer. Mobile must become a part of point-of-sale for brick-and-mortar stores, improving customers’ in-store shopping experience.

Major retailers are planning to offer mobile POS soon that will allow customers to find what they are looking for, to get more information about the product, and to make cashless purchases from their phones.

Trend 5 – QR Code Revolution
QR codes are not this writers favorite tactic, but research shows a resurgence. Quick Response (QR) codes are already being used by quite a few brands, but 2013 will be the year that most companies start creating and offering the smartphone-scannable tech to shoppers. The codes can provide offers in-store and online, as well as offer additional product information from the Internet about the products.

Trend 6 – Augmented Reality
Augmented reality (AR) is another exciting mobile technology trend. Marketers can create AR applications that let customers to point their mobile cameras at products to obtain relevant information about the products, such as reviews and discounts.

Mobile shopping is in its infancy, but rest assured it is not going away and it is transforming the shopping experience. The key for marketers and businesses it to embrace the changes that mobile brings you. Understand early, that the consumer owns your brand and it’s your job to supply the consumer with the brand experience they want. Lastly, remember mobile is just another channel and that technology unto itself does nothing!

By Steve Rockman

Facebook Ads Booming With CPC Up 23% & CPM Up 15%

Sites include . Published on May 5th, 2012. Written by Anthony West.

With Facebook’s IPO imminent, news that the cost for advertising on its platform is up will be good news for potential investors and Wall Street. This of course is not so good news for advertisers, but let’s look at the numbers.

According to the latest data on Facebook ads CPC and CPOM rates, there has been a marked increase in rates with CPC up 23% and CPM up 15%. And just so there are no naysayers, the data is backed by actual advertiser numbers, one of which is TBG digital. The ads tool developer spends heavily on Facebook ads and according to a report; it saw 15% jump in its CPM rates over Q4 2011. There was even a bigger increase in rates over Q1, and TBG saw rates shot up as far as 41%.

Analysts are very excited about the performance of Facebook ads, not least because Facebook’s main competitor, Google, has seen a slight decline in its rates to advertisers. Google reported a 6% drop in CPC rates for advertisers on its platform and many analysts believe that Google’s targeting and highly personalized platform is becoming very popular among advertisers. Some feel that it is actually the future of online marketing, and if it is, Google will be quaking in its boots.


What are the few new digital media trends to look for in the next 2 years?

Occasionally we will try to see if we can get a discussion going on this blog. So as I was writing a positioning paper for a client It got me to thinking of the following. What do you think will be new emerging media in the next few years.

My thinking is that there two very important technologies.

NFC – Near Field Communications. I think NFC is gonna go beyond cashless payment, but also into an interesting social arena, that will make it easier to check into locations, easier to like things in the real world, and easier to share information, and a new element to games. Data analysis and analytics will advance in huge strides as well. I wouldn’t be surprised to see a Google+ wall of recommended stories and posts from people not within my circles. Google knows what I like, who I talk to, and what I talk about, combine that against the internet and Google should be able to customize a wall of content tailored exactly for me.

Social Television or The Connected TV – I have also been giving a lot of thought to Social Television. By 2015 there will be over 500 million. As we all get “Connected” televisions the true social media experts will infiltrate your 10 Foot viewing experience. Social Television is a general term for technology that supports communication and social interaction in either the context of watching television, or related to TV content.

It also includes the study of television-related social behavior, devices and networks. Social television systems can integrate voice communication, text chat, presence and context awareness, TV recommendations, ratings, or video-conferencing with the TV content either directly on the screen or by using ancillary devices. I see; TV apps, Connected Content, Content recognition, product placement hotspotting, TV rfi and Second screen integration being at the top of the development list.

What are your thoughts?