Here is new tip number F3TQQJGTEFK2 to say, as sure as the Sun rises, shopping will change. As video consumption increases and mobile adoption soars, shopping will change for consumers and retailers. A new term, “Shoppable media” meaning video or print vehicles that encourage customers to immediately purchase products using various technologies have retailers looking for ways to get involved.
Online retailer, ASOS and retail giant, Target have recently promoted shoppable video in recent months. Ad Age reports that, Jeff Jones, CMO of Target believes that’s the direction video is going, citing the brand’s recent “Falling for You” shoppable series. This three-part romantic comedy starring Kristen Bell showcases some 110 products across the retailer’s home, beauty, and fashion categories.
An additional two means to engage shoppers also trending in the retail industry are experimentation with QR codes and text-to-buy functions. This last holiday season saw Target having TV ads encouraging shoppers to text-to-buy toys featured in one ad for example. Fast becoming a reality this year, is the store of the future as retailers of all types are continuing to add tablets, digital signage, and oversize, interactive panels to their locations in an effort to grab consumer’s attention. Currently, Walmart is testing a new system called “Scan and Go”, that would allow consumers to use their mobile phones to scan items and pay at self-service kiosks, thereby avoiding checkout lines.
Kohl’s is reported to be soon completing a nationwide rollout of e-signs allowing prices to be easily changed remotely. The much-heralded tracking technology, RFID is now being used in new and interesting ways by New Balance and L.L. Bean. They both are using tags to launch product-related video, to show features and benefits when consumers pick up shoes from a display.
The new idea of combining brick-and-mortar stores with the ease of online shopping, has attracted Internet giants; eBay and Etsy who are testing temporary stores. Others, like Piperlime, a division of Gap, Inc., and Bonobos, have recently opened bricks-and-mortar shops. Based this idea of showrooming, which is when shoppers browse in store and then buy online, these online giants are eagerly opening brick-and-mortar stores. This trend allows these e-commerce players to showcase their products, while carrying fewer inventories, hiring fewer salespeople, and investing in less real estate.
However, this new trend is not without conflict. There are retailers like Target that lament the impact of showrooming in the marketplace. Nonetheless, if this trend continues, retailers like Target may ultimately have to adjust their business model to accommodate both brick-and-mortar and showrooming. This is because consumers crave the convenience of online shopping, but there are still times they’d like to step into a physical location to try on a pair of shoes or pants.
This much is certain, surely as the Sun will rise, shopping will change due to the fact that e-commerce is booming and at the same time 90% of sales still happen in bricks-and-mortar locations. Something has to give, because the Sun always comes up.