Chapter 1. A New Commerce Landscape
Changing Consumer Demands
We are entering a new era in commerce. Consumers demand to seamlessly transact anywhere, anytime, on any client. Every sale is the culmination of potentially dozens of interactions with a consumer. Today, smartphones alone influence 84% of millennials’ purchases. Digital touchpoints influence 56% of all purchases. Selling something to an end consumer is far more complicated than it used to be, even just 10 years ago. Consumers are firmly in charge and expect to make purchases on their terms.
What do today’s consumers want?
A Brand Experience—Not Simply a Transaction
Those engaged in commerce are surviving and thriving in today’s era of commoditized goods by creating experiences, often through the use of content. Consumers want a story behind the product they’re buying. A product is never just a product—it’s a reflection of the consumer. It’s a statement. Today’s brands are successful because they are able to de-commoditize the products they sell. This requires the extensive use of content—text, video, audio, and so on.
Consistency of Experience Across Channels
Consumers no longer see divisions between channels (point of sale, web, mobile, kiosk, etc.). Consumers expect to see the same inventory levels, product assortment, pricing, and other aspects, regardless of how they interact with a brand. Whereas tailoring an experience to a channel is acceptable, offering a fragmented experience is not.
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