I am a very curious guy and I love novelties and innovations and I often get “weird” ideas about subjects which interest me privately and professionally. One of those subjects is commerce. For having worked for and with clients since I was 14 in the boutiques of my parents, I developed a deep empathy for customers.
Since some years commerce ad undergone a true transformation due to the digitalisation of our world and e-commerce became king of the crop when it saw the light of day in about 1991. But that’s 30 years ago and the world is a place which coninuously changes, right 🙂
And guess what, people are even changing faster. The first exciting hype of shopping online is over, because it has become common and is not really special anymore. People want to experience a personal human2human service. But it should be in combination wit digital features. Feaures which are not only bringing comfort. They should be a fun experience as well! Retail will change drastically.
Pieter Lammens is the Director of Lafayette Plug and Play, the Paris based European Retail Experts Platform focused on accelerating leading Retailers and E-commerce players’ transformation through startups.
This is his view on what will happen in retail in 2020:
“The retail market has been fragmented for a long time and is now heading towards a more consolidated model, and retailers are currently striving. One year from now, only the most agile retailers will survive and bloom again. The immediate investments have to be targeted on supply chain and inventory optimization. Pure players have set new customer service standards that have to be matched by traditional retailers: fast deliveries, click and collect, ship from store, easy returns.”
“In 2020, retailpocalypse will be behind us: stores will still exist, but their prime function will be customer experience. Tedious tasks, like logistics, will become more and more automated, but we have to keep in mind that the five human senses can only be stimulated in store! And so far no bot or personalization tool has been able to even come close to a good sales assistant.”
This makes clear that retail won’t dissapear but that retailers have to change their mindset, have to become creatie, brace and agile to survive. Characteristics that are not widely available among Germans. I have written a post about the fact, that entrepreneurs don’t recognize the possibilities.
For quite some time already, QVC displays a QR code when products are presented. People can scan the QR code and they will be forwarded directly to the product. I love QR codes and I often scan them when I see an interesting Poster or an ad in a magazine. I wrote before, that I am a curious man 😉
But instead of scanning a QR code, there is a extremely cool new kind of clickable content!
And of course I did some research to find out, if Ted Baker® still has this exciting video on his website. Guess what… I found it 🙂 https://www.tedbaker.com/row/mens/editorial/shoppable_video_p2. Enjoy, it’s fun 🙂 🙂
No need to say, that China is far ahead when it comes to commerce and making money. Live stream commerce is a huge thing there. Below another example of Ted Baker.
Live Stream Commerce shortly explained
It is a trend that is currently reaping great success in China – and soon we could be able to see live streaming ecommerce used by brands and sellers nearer to us.
Do you remember the QVC shopping channel and how addictive it was to see demonstration after demonstration of incredible devices?
The basis for live streaming ecommerce is the same: videos to demonstrate a product and broadcast live over a platform, social network, or website.
The reason why this way of selling has become so popular is the COVID-19 crisis, the increase of online shopping, and the progressive need that users have to regain human contact. Live streaming ecommerce is a way to digitally replicate the shopping experience at a physical store, just as the population has had to get used to social contact via Zoom.
Several social platforms, like Snapchat and TikTok, were already experimenting with sales possibilities through shopable contents and videos. While Snapchat has gone down in popularity over the last few years (only 9% of marketers use it), TikTok is a promising option that is on the rise – despite the fact that only about 1 out of 10 product marketers use it at the moment, 66% of them claim to have received a return on their investment.
Not even Amazon is immune to the effects of live streaming ecommerce: Amazon Live offers videos in which different hosts explain all types of products on sale on the platform – from gym accessories and microphones to cosmetics.
And if Amazon is in something, you know it has future. I recommend to have a look at Amazon Live, because it is also funny. Even if you don’t have an account in the U.S., you can still log in and buy the presented items.
and here is an another example, which shows one of the most successfull influencers in China. For all the straight guys who have a problem with gay guys, be aware that it might be shocking 😉 But in our agile time and age,in which diversity is important to develop creative ideas which will enable awesome products, diversity is a must for a successful company culture. Remember:
Culture eats strategy for breakfast, lunch and dinner 🙂
Who is millionaire Li Jiaqi, China’s ‘Lipstick King’ who raised more than US$145 million in sales on Singles’ Day?
He has close to 40 million fans on Douyin, China’s version of TikTok, donated masks to Wuhan and won the hearts of Chinese women on social media everywhere
Known as the “King of Lipstick” in China, Li Jiaqi, also known as Austin Li, is without a doubt the best salesman of beauty products in China. Using Taobao’s live-stream services, he once sold 15,000 lipsticks in just five minutes.
He has close to 40 million fans on Douyin, China’s version of TikTok, where he usually live-streams his recommended beauty products. Chinese media reported his revenue in 2019 exceeded thousands of publicly listed companies. As the coronavirus outbreak, known as Covid-19, hit China’s economy hard, a handful of companies, including food company Danshenliang, sought Li’s help in reviving sales for the first quarter.
Li has a soothing power in the way he speaks. He appears as the boy-next-door and is very convincing. Li’s famous catchphrases – “Oh, my God” and “all girls” – in his high-pitched tone persuades viewers his deal is the best they will ever get in their lives.
Li is daring (he disses luxury brands such as Chanel) and when he reviews beauty products, he recommends those he likes and critiques those he deems difficult to handle. Perhaps his occasional criticisms make his recommendations even more convincing.
This is Tabao Live:
I am aware of the fact, that this is way to far and futurisitic for Europe and Germany. But could at least try to pick some ideas and to adapt them according to their needs, like I wrote in another post. There is also one of my first self made videos 🙂 Not professional, but honest and authentic 😉
Even times are rough, it is still possible to break into new ground to make things better. One must be brave, curious, creative and agile. It might not work immediately but by holding on and trying several apporaches, it will be successfull. Everything is better, than to sit and wait. Even if an idea might seem odd.
And now I am going to find out how to add clickable links to a video 🙂 When I find an approach, I will post it on my blog.