Since I was a toddler, I have been exposed to multiple paradigm shifts within the marketplace that in one way or another are an attempt to reinvent how we as consumers buy things.
For me, it started with going to stores, or shopping in a catalog and then blossomed into the world of connected commerce today. Recently when I stepped back from the daily act of using my phone or computer to research and buy products I came to a realization, the revolutionary experience I have been leveraging was not all that different from when commerce started.
Commerce took a turn for increased accessibility to products and a centralized way to purchase multiple goods/services from one location. Trust, reviews, availability and price were still the cornerstones of commerce.
Customers trusted the store to offer friendly advice (owners & employees), have products on the shelves and if the prices weren’t right, the customer went to a different store. The main thing that changed was how the products were brought to the customer.
First Came The Big Box Retailers
You no longer needed to be concerned with selection, because the big box had “everything’ you could want. Stores got bigger allowing for greater availability, lower prices, and product insights from media outlets (newspapers, TV, Radio).
E-commerce has shaped our relationship with how we buy and sell products, but at it’s core e-commerce is just next evolution of catalog shopping The innovation is not the method or even commerce itself, but an expansion on the idea of getting any item even from the comfort of your couch.
Bridging the gap between digital and physical does present a challenge for the retailers/e-tailers etc. as they are looking to make the trust, availability, price and review experience seamless across all avenues of purchase.
From Brick To Click
1WorldSync recently completed a data study that highlighted some of the key challenges suppliers and retailers face when trying to achieve true cross-commerce capabilities. and uncovered key insights into the struggles that are faced in today’s omni-channel world.
Key findings suggest that a majority of merchants and suppliers are not fully prepared to meet the varied demands of modern customers. 45% of merchants and suppliers have lost more than $1 million in revenue due to challenges faced when integrating cross-channel capabilities into their commerce strategy (Source: 1WorldSync Data Study).
You can read more here about how 1WorldSync can you make your products stand out in a very crowded Omni-Channel world.