Innovations that are changing the Retail & eCommerce Industry

Technology is truly amazing and its only getting better, throw social media and eCommerce into the mix and you get a great recipe for the Retail Industry niche.  The Global eCommerce market has become a big game changer in the retail industry.  Year on year the sales figures worldwide are increasing, with it’s most recent year’s (2017) figures exploding from the previous year.  A full 24% increase from 2016, retail eCommerce sales reached an amazing $2.304 Trillion, expected to surpass $4.5 trillion by 2021.
Interestingly enough a huge percentage of this was down to mobile sales, ‘mCommerce’ made up 58.9% of all digital sales.
This backs up the fact that now 84% of smartphone users adopt a routine of checking products online before making a purchase.  With the ease and convenience that the user experiences, it makes perfect sense why this is true.
Our Retail and eCommerce niche media experts summarise how innovative eCommerce tools paired with Social Media are changing the infrastructure of digital marketing in the Retail industry niche.

1. Augmented Reality in Retail Shops
   Augmented reality (AR) has been around for a while now, but as with any new technologies businesses and people alike are always very sceptical when implementing it.  However, over the last few years AR has really taken off and businesses are now seeing the benefits of incorporating it into their business models.
   Although AR is very similar to VR, it is also very different in many ways.  What’s great about AR is that creates an effective solution to everyday life, instead of creating a completely imaginable world, AR instead enhances the world you live in.
   One retail store that has decided to take the leap into the AR world is Zara (pictured above)   Towards the end of January this year Zara introduced us to a new world of shopping in their store in London’s Stratford Westfield shopping centre.
   To put simply its concept is online shopping but inside the store, confusing?  Don’t worry we will break it down further.
   The design and layout of the store has allowed for much more space in merchandise arrangement with a dedicated space for click and collect.  Stock will include a selection from both menswear and womenswear, however, you will not be able to directly purchase from the store.  The idea is for you to ascertain what you would like to purchase by seeing it in real life form then ordering the item online.  The great news is that if you order before 2pm you will receive your items the same day, if not, then delivery will be made the next day.  How amazing is that, go shopping and have no bags to carry around.Along with this great feature, Zara have several other nifty techy features such as paying via Bluetooth meaning you can avoid long queues and get in and out with having to waste time.
   There is also a self service checkout available to those who would like to pay via practised methods.
   One of it’s best features is the virtual styling tool, mirrors will have embedded information screens that will allow you to scan bar-codes of items, which result in offering coordinating garments and accessories to pair with that item piece.
   This is a whole new futuristic shopping experience that has benefits for not only the business but also to the consumer.  This is a great milestone for retailers and we’re sure that there will be a whole lot more of this style of shopping coming soon.
   
2. Pinterest Lens
   Remember when Shazam was first introduced to our lives? it was considered the best thing since sliced bread.
   Well that’s exactly what Pinterest Lens is in the world of consumer goods.
   Pinterest have created a new technology that gives you the opportunity to discover new ideas with very little effort.  The in-built camera in the Pinterest app allows you point the lens at a particular product or item, the app then shows you related items i.e. you can point your lens at kale, and a list of recipes will show up giving you ideas of what to cook.
   This new feature changes the whole way we search products making it easier for consumers to find what they want and purchase it without delay.  This is a fairly new feature, but soon enough Pinterest Lens will be able to deliver the best ideas and related content in real time.
   
3. Like to know it App
   Like to know it is a fantastic eCommerce tool that works very well alongside social media.
   Like to Know It is an app designed to allow users to upload screenshots of clothing that they saw in their social media feeds.  This then allows users to find out where they can purchase these items and ultimately allows them to purchase directly though the app.  The app is integrated with SnapChat, Instagram, Pinterest and various other platforms.
   This type of feature app is revolutionising consumers purchasing routines.  It is also having a huge impact on Bloggers & influencers as well as brands in the way they market their products.  Social media is at the forefront of most consumers purchasing decisions with a tool like this it makes life easier for the consumer and company/brands.
   
4. Instagram Shopping
   As we have mentioned in several of our other blogs – Instagram shopping is a great new revolutionary tool that has been designed for Instagram.
   The idea and concept is perfect for the Retail Industry and makes your digital marketing almost flawless.
   So what is Instagram Shopping?
   It is simply a great tool for businesses whereby they can tag up to 5 items in their post, detailing product information along with the price and a direct link to purchase.
   How can you not love this new feature, from a consumer point of view it’s like Christmas came early and from a business point of view why are you not already adopting this feature into your digital marketing strategy?
   With over 800 million active monthly users on their platform it is certainly the place to be with this new added feature.  This feature allows businesses to utilise Instagram for business far better than they could before, reducing the need for costly ads and retail landing pages.
   If you are still living in the past it’s time to shake up your digital marketing strategy and start adopting features like Instagram Shopping.
   
5. MasterPass Facebook Messenger Bots
   Mastercard have teamed up with Facebook to allow users to interact with retailers through the use of artificial intelligence (AI) technology.
   This is a whole new world to shopping allowing users to purchase food or products without having to leave the Facebook app.  Facebook Chatbots are similar to Siri in the fact they will look up restaurants and retailers but will also help you place your order.
   In today’s digital world it is only inevitable that everything will start to become digital, such as money.  Masterpass is a simple online form of payment that is secured by MasterCard in partnership with your bank.  It is perfectly safe and convenient for consumers to use and makes the path to purchasing a lot easier.This is just another way that eCommerce is evolving and this new innovation is another example of how the gap between businesses and consumers is getting closer, meaning communication is getting better and consumers are finally getting what they want as well as businesses, everyone’s a winner.

Our in-house London based social media managers are using many of these techniques and more within the retail & eCommerce niche.  If you need any advice or help, please do get in contact today to speak with an expert for advice on getting your company to the next level.