Payments Evolution Adds Complexity To The Multitouchpoint World Of eBusiness

Though Google’s announcement of its new Wallet product is unlikely to be terribly disruptive initially (see Charlie Golvin’s post about it), it does signal yet another point of complexity facing eBusiness professionals today. We’ve been writing about this topic and advising clients about how to address it all year. We expect this subject, fundamentally agile commerce, to be a persistent theme for quite some time. So I thought it would be a good time to pull some of the good work my colleagues have been doing together around this topic of multitouchpoint proliferation (that’s a mouthful). 

Charlie Golvin and Thomas Husson have a fuller assessment of the Google announcement published that augments their existing blog investigation of the evolving multitouchpoint space.  Plus, they have been looking into the complex and changing mobile and payment space lately. See: Welcome To The Multidevice, Multiconnection World.

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A Multichannel Stroll Down Fifth Avenue

A few weeks ago, my colleague Martin Gill and I took a stroll around London in order to see what retailers were doing in their multichannel efforts.  Martin challenged me to do a similar walk-through of the Fifth Avenue stores here in NYC, and our results were largely similar. 

The Club Monaco store was an exciting start given its proximity to our offices (directly below).  It displayed QR codes on its windows which, in the right sunlight, led my mobile device to a YouTube video.

 

The effort was nice but served more as an engagement tool, not really anything that would help to drive sales.

The walk around was characterized by a few key themes:

  • Absence of multi-touchpoint approach. After Monaco, I encountered Ann Taylor Loft, LensCrafters, and American Apparel, none of which had anything beyond their traditional store experience. From the lack of multichannel signs (not even a URL on the window!), users might not know the Internet and phones existed, let alone the wide array of opportunities (QR codes, location-based notifications) that retailers have at their disposal.
  • Missed opportunities. Aveda had a large charity promotion going on in its store. However, there was no signage with a website link, no mention of Facebook, and no effort to drive the event beyond the store’s windows.
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Retailers Push The Envelope With Ratings & Reviews

Forrester recently released a document entitled “Ratings & Reviews: Q1 2011 Snapshot.” In it, we discuss how eBusiness professionals continue to create value for customers via user-generated product review content.  The next evolution of ratings and reviews should prove to be:

  • More flexible, as a multidimensional approach takes over.
  • More exposed, as social networks connect brands and consumers.
  • More pervasive, as retailers use multiple touchpoints to create coordination and consistency.
  • More strategic, as the information derived from ratings and reviews is utilized across the organization.

Of course, this research document is meant to serve as a snapshot, meant to launch a dialogue about what is happening in the space. With that in mind, what are you seeing in the world of ratings and reviews that wasn’t mentioned here? How are those technologies helping eBusiness professionals succeed? And of what we did highlight in the report, what are some examples you have seen of those being used to their fullest effect?

Read the full report here, and then comment on this post.

Patti Freeman Evans