Non-US Marketplaces For Brands

Zia Daniell Wigder

I’m currently finishing up my presentation for the Internet Retailer Conference & Expo in June: I’ll be presenting on the non-US marketplace options for brands as part of the global eCommerce track. In preparation for the session, I’ve had a chance to catch up with a number of established global online marketplaces for brands as well as agencies helping to develop some of the marketplace storefronts. 

While many North American and European brands are familiar with local marketplace players, it’s worthwhile highlighting just a few key marketplace options originating outside of these two regions:

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Why is the movie industry getting all of the attention?

Kelland Willis

 

Last week I wrote about what digital businesses entering China can learn from Jon Stewart-- along the same lines, Hollywood has recently made headlines with its success in the country.

Movie studios are taking the time and making the effort to crack the movie industry in China, as can be seen in the recent success of Iron Man III. Not only are the studios figuring out which cultural references will resonate and seem natural, they also work closely with government officials to understand what might be culturally insensitive to avoid a last minute pull from the screen – all important elements to being successful in China in any industry.

Is your business placing the same importance on China as part of your global online strategy by offering tailored products and content? The numbers make the case that you should be:

  • Box-office sales in China grew 30% between 2011 and 2012 – Forrester’s data shows that eCommerce sales grew by 43% between2011 and 2012
  • Chinese box office ticket sales were $2.7 billion in 2012 – Forrester’s data puts eCommerce sales in China at $169.4 billion in 2012
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Time To Start Planning For The Next Generation of Digital Banking

Catherine Graeber

Rising digital customer expectations advances in technology, and continued digital disruption threats from outside the industry will change the game for banks and credit unions.  2013 will be a pivotal year for eBusiness and channel strategy executives to start planning for the next generation of digital banking to both stay relevant to digital customers and thwart disruptors determined to take over those customer relationships.

In my new report, titled "Trends 2013: Five Trends Shaping The Next Generation Of North American Digital Banking," I explore the trends that will power next generation of services that are simple, ubiquitous, empowering, and reassuring.  Here are the key takeaways:

  • Customers' digital financial expectations are high.  With the proliferation of digital devices, consumers are highly connected to their financial providers. And with adoption of each new device comes higher expectations of those providers, especially among the younger generations. Get it wrong and you risk losing their loyalty.
  • Our app-driven world will require flexible and extensible digital platforms. Creating a durable competitive advantage, one that can't easily be copied, includes a move to open platforms. An open platform strategy will allow financial firms to use third-party providers to create app solutions that will create differentiation through a personalized user experience and segment-specific capabilities.
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Forrester Welcomes Adam Silverman to the eBusiness & Channel Strategy Team

Peter Sheldon

After a long search, I am thrilled to announce that Adam Silverman has joined Forrester as a Principal Analyst to allow us to expand our coverage of commerce technology and services. Adam brings with him over 15 years of experience in marketing and eCommerce leadership having most recently been in the role of VP & GM for Alibris where he held P&L responsibility for the Alibris online marketplace. Prior to his role at Alibris, Adam has held senior eCommerce marketing and operations roles at Musician’s Friend, Target and Wet Seal and brings with him a great deal of experience of implementing eCommerce technologies at these retailers.

Adam and I are excited to be in a position to broaden Forrester’s coverage and research on commerce technology and services. Across verticals (retail, branded manufacturing, high-tech, distribution, telco, CPG, hospitality), we are seeing increased client demand for research and consulting on commerce technologies, strategy and associated implementation services. To ensure we are meeting the demands of our clients, we have an exciting research plan in the making that includes:

  • The role of order management solutions in omnichannel retail
  • Mobile POS and the changing in-store technology landscape
  • PCM / PIM solutions
  • Full service eCommerce solutions
  • B2C & B2B eCommerce solutions
  • The changing role of Commerce Service Providers
  • The future of omnichannel commerce technology
  • And much more….
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What digital businesses entering China can learn from Jon Stewart

Kelland Willis

Is Jon Stewart’s recent online success in China a sign of new opportunities for non-Chinese brands? In China, the demand for global brands and content continues to grow - to the point that it has spread into new industries like comedy shows, where cultural cues are paramount to success. Jon Stewart is just one of many western icons with newfound success in China, all in part to the accessibility of new consumers through the internet.

Online businesses selling anything from humor, makeup, or shoes to baby formula can’t ignore these demands for their products in China: More and more consumers are exposed to global brands of all kinds through online offerings and travel. There are huge advantages to being one of the first brands to be noticed in the market, but just showing up isn’t enough. To be successful, learn from Jon Stewart and:

  • Localize your offering. Give your consumers things they can relate to and use. Jon Stewart did this by coming up with culturally relevant jokes about China’s culture. For retailers this could mean offering products that respond to needs specific to consumers in China, like Godiva’s Chinese New Year Chocolates.
  • Develop a fan base online. By giving your very social Chinese consumers a platform to talk about your brand, you can generate free marketing and new insights. Jon Stewart’s fans aggregate his videos in one place and work together to translate and upload subtitles on his video clips.
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Why you shouldn’t rush out and hire a CDO

Martin Gill

Chief Digital Officer (or CDO) is the latest in a long line of snazzy C-level titles to emerge over the last few years. At Forrester we’ve been watching this trend for a while now and have made a few comments, but I think it’s time to put a firm stake in the ground.

 
Don’t hire a Chief Digital Officer!
 
There. I said it.
 
Now, why might I say this when a number of high profile firms are in fact hiring CDOs? Well, to put things in perspective I want to look at a tale of three brands, all of which I’ve spoken about in the past:
        
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The State Of Canadian Online Retail 2013

Peter Sheldon

Last week Forrester published a report on the state of online retail in Canada. We surveyed 1,103 adult online shoppers in Canada to understand what challenges the Canadian public face when shopping online. We found that Canadian online shoppers have many complaints; among them high shipping costs and lackluster product assortments. Furthermore, Canadian online shoppers are acutely aware of the gap between the online experiences of domestic sites versus those in the US. Canadian sites are missing key online capabilities like free shipping, flexible pickup options, a stress-free return policy, and omnichannel payment options in addition to the obvious price discrepancies.

Some of the reports highlights include the following facts:

  • Shipping costs are too still too high. Despite the eventual arrival of Amazon Prime in Canada and the increasing commonality of free shipping thresholds, sixty-eight percent of Canadian online shoppers we surveyed cited that delivery costs are their primary concern when shopping online.
  • Product assortment online in Canada is lackluster. Thirty-seven percent of Canadian online shoppers say they can't find the products they are looking for online in Canada. Consequently, 32% of these frustrated shoppers ultimately end up buying instead from US or International sites and incurring the cost of shipping, custom duties and Canadian taxes.
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Who Leads In Mobile Banking: Forrester Ranks 15 Banks Around The World

Peter Wannemacher

Mobile banking success is a moving target: Customers needs and expectations are changing rapidly, and eBusiness teams at banks are sprinting to get ahead of their customers’ expectations. To achieve this, firms are rolling out new features, optimizing existing services, and enhancing mobile experiences.  

To understand which firms are leading in mobile banking — and to better gauge the mobile banking landscape overall — we used our Mobile Banking Functionality Benchmark to evaluate and rank the mobile banking efforts of 15 of the largest banks in North America, Western Europe, and Australia.

Our findings across all the banks we evaluated can be found in our 2013 Global Mobile Banking Functionality Rankings. We've also published two additional reports looking at the banks we reviewed in the UK and the US: 2013 UK Mobile Banking Functionality Rankings and 2013 US Mobile Banking Functionality Rankings

Highlights of this research include these findings:

  • Chase takes the top spot overall. Chase received the highest overall score among the banks we evaluated, netting a score of 71 out of 100. The bank offers mobile banking services across a range of touchpoints ranging from smartphone apps, strong mobile websites, and two-way SMS. In addition, Chase also has strong mobile money movement features such as bill pay – including the ability to add a payee – and mobile transfer capabilities.
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Kaching Lowers The Barriers To Mobile Payment Adoption

Benjamin Ensor

Kaching iconTen years ago, Forrester published some research with the slightly awkward title of ‘New Payment Systems’ Survival Guide’. One of our findings was that many successful new payment systems have some kind of ‘must-have’ transaction that encourages customers to go through the hassle of learning how to use a new system in the first place. Good examples of ‘must-have’ transactions include eBay’s auctions for PayPal, travel to work for Transport for London’s Oyster, and online shopping for iDeal.

Ever since, I’ve been seeking the ‘must-have’ transaction that will spark consumer adoption of mobile payments in developed economies. But what if there isn’t one? (And, after 10 years, it’s probably time to admit that there isn’t). The answer is to focus relentlessly on both lowering the barriers to mobile payment by making it as easy as possible for customers to use a new system and to increase the benefits by maximizing the number of ways and places customers can use a system.

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U.S. Bank Tackles Cross-Channel Banking With Innovative Mobile Photo Bill Pay

Peter Wannemacher

Banks get a bad rap for not being innovative enough. But at least one provider is proving the haters wrong: Early this year, U.S. Bank launched Mobile Photo Bill Pay, a feature that lets mobile bankers add a new payee simply by taking a picture of a paper bill or statement.

This mobile feature – powered by technology solutions company Mitek – goes beyond “nifty” With it, U.S. Bank offers customers an easier, more convenient, and more elegant cross-channel experience for a common activity. It helps the bank by increasing the number of customers who use digital bill pay – and deepening relationships with customers. According to Niti Badarinath, SVP and head of mobile banking at U.S. Bank, “Getting people to become active users of bill pay is key to our digital strategy, because we recognize the value and stickiness of the relationship when people pay bills." (taken from a recent article in American Banker)

How it works

When U.S. Bank launched mobile photo bill pay, I immediately pulled up my U.S. Bank iPhone app and took this new feature for a test drive (see screenshots below). Put simply, this is an innovation that delivers: A customer can go from opening a bill he got in the mail to enrolling a brand new payee to paying that bill in under 150 seconds (a.k.a. less than 2 minutes and 30 seconds). This is without setting up any bill payment options in advance, or entering any information manually – the mobile photo bill pay feature even corrects for image distortion, reads relevant data and auto-populates all the information.

Why it’s good for U.S. Bank

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