bringing inspiration to online retail
Post on 21-Feb-2016
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DESCRIPTIONBringing Inspiration to Online Retail. Inspiration Commerce. Retailers need to differentiate online. Unable to compete in a world of fulfillment-driven commerce. Its weakness is lack of inspiration. Uninspired shoppers are motivated by price. Inspiration motivates others to take action. - PowerPoint PPT Presentation
Bringing Inspiration to Online RetailInspiration CommerceConfidential2
Retailers need to differentiate onlineWe all know it, we all try to do it differentiate. It is needed now the most. But how? It has to be something sustainable and externally relevant something that keeps driving the business.2Confidential3
Unable to compete in a world of fulfillment-driven commerceOne big problem that most eCommerce retailers face: In a world of Amazon & Walmart, they cant compete on price or fulfillment.Dont have enough volumes. Cant optimize the supply chain enough.Maybe not enough SKUs.End up playing Amazons game and trying to compete on price, to the detriment of margins.3
Confidential4Its weakness islack of inspirationThe real problem is that they shouldnt be trying to compete on price they should be providing inspiration to shoppers.
Think of the current examples of highly successful inspirational retailers . . .4
5Uninspired shoppers are motivated by priceWith minimal inspiration or engagement in many eCommerce experiences, how do shoppers behave?In the absence of meaningful inspiration, price becomes the decision factor.
Once its all about the pennies at the end of the price tag instead of the total shopping experience (inspiration!) . . . youve lost the loyalty game.6Confidential7
Inspiration motivates others to take actionNow, contrast this to an inspirational environment.Think of what Oprah has created among her community her loyal audience all these years.Think of how people are motivated to act, to share, to buy, to recommend.7
Confidential8Online retail differentiation through inspiration? We need to bring more of that thinking to eCommerce.Get away from the pricing game.Build inspiring shopping experiences that we can share.
Differentiation via your own customers, influencers, & staff inspirations?Best of all is when your own audience starts supplying the inspiration.Todays technology means that any customer can be a local version of Oprah.Anyone can become engaged in sharing their passions.9Confidential10
Inspirations in context that drive commerceSocial commerce hasnt worked, in most cases, because its been attempted in the wrong contexts.Effective social commerce takes advantage of context.Inspire people right when theyre doing product research.10Confidential11Harnessing inspirations to drive commerce
Our vision of INSPIRATION-DRIVEN COMMERCE.Peers sharing their passions with each other.Influence that drives sales.In context.11Our vision of INSPIRATION-DRIVEN COMMERCE.Peers sharing their passions with each other.Influence that drives sales.In context.12