Agile Commerce Is For Life, Not Just For Christmas

Martin Gill

 

EBay is now the latest entrant into the field of retail experimenters that are trialing the concept of a “virtual store.” 

EBay joins Occado and Tesco in embracing the increasing number of Multidevice Buyers in the UK who use their smartphones not only to inform their offline shopping journeys, but to buy products as well. EBay’s pop-up store in the heart of London promises to allow shoppers to browse products in person and purchase via a QR-code-driven mobile shopping experience. 

While eBay's store is very deliberately designed as a temporary pop-up, others are approaching the same challenge in a completely different way. House of Fraser recently launched a concept store in Aberdeen that carries no stock but offers shoppers the opportunity to sip a free cappuccino while they browse House of Fraser’s website on dedicated Internet stations.   

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Benchmark Your eBusiness Strategy And Results

Carrie Johnson

I'm so excited to announce that today we have launched Forrester's new free eBusiness benchmarking tool. With the tool you can compare your key performance metrics against your peers'. Plug in the answers to a few questions about your eBusiness budget and metrics and our tool will instantly compare your answers to similar size companies for five key benchmarks:

  1. The size of your annual eBusiness budget 
  2. The number of staff dedicated to your online division
  3. The percent of overall sales that occur online
  4. The size of your eBusiness team
  5. The percent of customer service interactions that occur online

The tool will not only show side-by-side results, it'll also produce a nifty PDF for you to print out and show to your colleagues. But wait there's more! We have a suite of research that helps our clients act on results, outlining how to improve those five key metrics to keep up with competitors and align with best practices. We've summarized all of our advice on how to use the benchmark tool and to improve results in an accompanying report called "Benchmark Your eBusiness Strategy And Results" (sound familiar?) and I encourage you to read it. 

We also have a whole body of research that we think help turbo charge your eBusiness results.

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The Battle For The Digital Wallet

Benjamin Ensor

Over the past couple of years I have been intrigued by the concept of a 'digital wallet' that will combine mobile payments with a variety of other benefits for customers. The more people I talk to, the more convinced I am that mobile digital wallets will mark a big shift in retail payments. A mobile digital wallet is more than just a mobile payment system because it combines:

  • Mobile payment. Digital wallets are likely combine several different payments systems into a single service, including mobile contactless payments, online (i.e. web) payments, and over-the-network mobile payments, making it easy for customers to make a variety of different types of payment from a mobile device.
  • Barcode scanning. Scanning barcodes or QR codes will let customers get more information about products, and let them pay for items on their phones before showing an on-screen receipt to leave the store.
  • Loyalty rewards. Instead of carrying (and sometimes forgetting) a separate loyalty card, digital wallets will track customers’ spending and offer merchant-funded rewards, either on the phone or at the point of sale.
  • Coupons and offers. Digital wallets are likely to offer customers coupons and location-based offers.
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The New Normal – Light Spending, Heavy Coupon Usage

Andy Hoar

A few days ago, online coupon site Retailmenot.com released results from its inaugural holiday edition Shoppers Trend Report. A combination of consumer trend data pulled from activity on Retailmenot.com and a survey by Ipsos regarding near-term consumer sentiments, the report corroborates much of what Forrester recently predicted for this year’s holiday shopping season:

  • Growth in overall retail spend will be positive but small. According to the Shoppers Trend Report, only 11% of consumers surveyed intend to increase their holiday spending.  Similarly, the National Retail Federation (NRF) and Forrester predict the U.S. will see only a marginal increase of 2.8% growth in overall retail spending this holiday season. 
  • Coupon use is on the rise. 58% of US online adults say that they are more price-conscious today than they were a year ago.  Not surprisingly, Experian Hitwise has seen downstream traffic from retailers to couponing sites grow 69% in the last three years. Similarly, Retailmenot.com has seen online coupon usage increase 23% in the months leading up to the holiday season.  Seems if there’s a deal lurking out there on the internet, price conscious consumers are out to find it.
  • Free shipping is preferred by online shoppers. 59%of US online adults say that they shop online more often with retailers that offer free shipping.  In fact, according to the Shoppers Trend Report, free shipping is the coupon promotional offer most favored by consumers – preferred by 26% of all shoppers.
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Mobile Banking: Just Another Channel Or Fundamental Strategic Shift?

Benjamin Ensor

In the past week I’ve have the privilege of talking to (or listening to) executives responsible for mobile banking at some of Europe’s biggest banks, including Bankinter, Barclays Bank, La Caixa, Lloyds TSB, Nordea and RBS, at Forrester’s Marketing & Strategy Forum and at a conference on Next Generation Mobile Banking hosted by The Banker. I’ve also spoken privately to many other executives over the past few months, including at Forrester’s eBusiness Council meeting this week.

Without naming names, I’m struck by the sharply different perspectives these executives have. Simplistically, their view of mobile banking falls into two camps:

                Mobile is just another channel. These executives see mobile banking as a way of letting customers do old things, like checking their account balance, in new ways.

                Mobile will revolutionize retail banking. These executives believe that mobility could turn the retail banking industry upside down, by enabling customers to do entirely new things like scanning bills to make payments, responding to location-based offers, and receiving rewards at the point of sale.

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Growing Momentum Around eCommerce In Brazil

Zia Daniell Wigder

Back in September, I wrote up a few of my findings from meetings with companies in the eCommerce space in Rio and São Paulo. We’re fielding an increasing number of questions about Brazil, and indeed, while eCommerce in Brazil today is still heavily dominated by local companies, the landscape is starting to include more international players:

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2D Bar Codes Are Everywhere, But Are They Having An Impact?

Julie Ask

2D bar codes  are on buses, in newspapers and magazines, storefronts, product packaging, store shelves, bus stops, mailings from political candidates, and subways. Retail stores like Best Buy, Home Depot and Lowe’s have corporate programs for 2D codes. Honestly, it is hard to name a place that I haven’t seen a 2D bar code. Hard to say if there are more codes — or more consumers scanning the codes. I think it is the former. As with many things mobile, this is more of a supply-side-driven phenomenon than demand-side.

Why are there so many codes? They are one of many mobile technologies that facilitate the connection of consumers to relevant content when they need it. Scanning bar codes simplifies the experience of discovering content or initiating an action on a cell phone like sending a message or adding a contact to a phone. Brands are doing all they can to educate consumers about what codes are and how to use them. Budweiser, for example, has designed an entire TV commercial around tags from Spyderlink on its Bud Light cartons. See the video.

Plastering codes everywhere, however, is working —  adoption among US adults has increased from only 1% last year to 5% this year. Adoption among smartphone owners is three times that. While adoption is relatively low today, the strong growth in usage of the codes by brands and consumers alike indicates a bright future for brands looking to deepen their engagement with consumers. Bar codes don’t facilitate just marketing —  they will be used 360 degrees around a customer’s journey —  from branding or consideration through to purchase and replenishment.

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US Online Holiday Sales To Avoid a Double-Dip Recession

Sucharita  Mulpuru

Forrester’s “US Online Holiday Retail Forecast, 2011” launches today, revealing strong growth despite a shaky economy.  November and December alone are expected to pull in nearly 60 billion dollars in online revenue, a 15% increase over 2010 and about one-third of overall online sales volume for the year.  Much of the growth comes as a result of web shoppers doing more of their holiday shopping online and is enhanced by:

  • Customers hunting down deals.  The web has always been the channel for finding value, but as shoppers are more likely to have their smartphones in hand, and as the US unemployment rates continues to approach a double-digit percent, expect even more browsing online for great values.  Deal-related keyword searches spike around the holidays and many opportunistic customers actually look to load up on products from their own personal wishlists given the ubiquitous availability of offers. 
  • Key dates getting bigger.   The trend for the last several years has been that Cybermonday is the biggest shopping day of the year for web retailers.  This has become a self-fulfilling prophecy as retailers now provide rich sales and offers on those dates, further driving customers to expect fabulous values at the same time.
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Have Yourself A Multi-Touchpoint Christmas

Martin Gill

 With 43 shopping days left until Christmas 2011, eCommerce operations across Europe are gearing up for what looks like being a strong growth year for online retail.

With the economic climate across Europe looking increasingly bleak as Italy considers austerity measures and Greece’s future in the Eurozone uncertain, it is no surprise that European shoppers are more price conscious than ever as they go about their Christmas shopping. Increasingly savvy shoppers will not only find and purchase Christmas bargains online but are turning to a growing range of retailer touchpoints to inform their offline purchases as they hunt for the perfect gift at the perfect price.

While the Internet continues to deliver healthy double-digit growth for most retailers, lackluster summer sales and autumn clearance efforts have led to a shaky start to some Christmas campaigns. But while some retailers lurch from sale to sale, leading eBusiness executives are driving increasingly sophisticated multi-touchpoint strategies that aim to offer shoppers flexibility in how, where, and when they shop.

Mobile will undoubtedly play a much more critical role in assisting shoppers to find the perfect gift this Christmas, with innovative retailers such as John Lewis pushing the envelope by offering free in-store WiFi to its shoppers. But a multi-touchpoint approach does bring more complexity than ever, and managing a consistent experience and message across multiple touchpoints such as Facebook, mobile, the Web and stores is a challenge that busy eBusiness executives must face into.

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Join Our Global Mobile Survey And Get Free Aggregated Results

Patti Freeman Evans

A year ago, Forrester fielded our Q3 2010 Global Mobile Maturity Online Survey. We interviewed more than 200 executives in charge of their companies’ mobile strategies around the globe (40% in the US, 40% in Europe, and 20% in the rest of the world). You can see the results from last year’s survey here.

To help consumer product strategists and executives benchmark and mature their mobile consumer strategies, we’re updating this survey.

Planning and organizing for the use of mobile technologies is a complex task. Some players are laggards and think they still need to get the basics of their online presence right, while others are clearly ahead of the curve. Yet two questions we consistently hear are: “Where is my organization compared with others in the use of mobile?” and “How can we mature our mobile consumer approach?”

Here’s how you can help:

If you’re in charge of your company's mobile consumer initiative or if you’re familiar with it, then please take this survey.

Click here to start the questionnaire. 

If you’re not familiar with your company’s mobile consumer approach, please forward this survey to the relevant colleagues who are in charge of defining or implementing your mobile consumer approach. 

  • The survey takes less than 20 minutes to complete.
  • The survey will be live until November 20.
  • Responses will be kept strictly confidential and published only in an aggregated and anonymous manner.
  • For your efforts, we will share a free copy of the survey results.
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