Online Cross-Border B2C Sales Will More Than Double In The Next Five Years, Globally

Michael O'Grady

Forrester Data has just released its first global cross-border online retail forecast covering 29 countries worldwide, helping retailers understand the size and growth of the online cross-border market by country and region and identify the region-to-region flow of trade. Cross-border online B2C sales will more than double in the next five years to reach $424 billion in 2021, as consumers find online cross-border shopping easier, faster, and more convenient:

  • Cross-border shoppers in developing markets are increasing significantly. Metropolitan China in particular saw a large jump in its share of online buyers shopping across borders in 2015. Online cross-border buyer growth is strongest in developing economies: Latin America, Asia Pacific, Africa, and the Middle East will see double-digit compound annual growth over the next five years — significantly more than the growth in Europe and North America.
  • Marketplaces are increasing their share of cross-border sales. Cross-border shoppers prefer to use global marketplaces when they shop abroad. Alibaba increased its share of online sales from outside China. Online marketplace Rakuten reported 41% growth in cross-border sales in 2015, more than twice the growth of the domestic Japanese eCommerce market. In Germany, France, and the UK, more than half of cross-border buyers buy from Amazon and eBay. Amazon merchants’ cross-border sales doubled in 2014.
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Forrester’s New Breakout Vendor Series: Stay On Top Of Disruptive Technology

Carrie Johnson

Have you heard of Hubba? Coupa? What about APX Labs? Forrester features these technology vendors, alongside 19 others, in our new Breakout Vendor reports. To keep pace with the expectations of digitally empowered customers and clients, firms must stay on top of disruptive and emerging technologies. Keeping up with new providers of potentially game-changing technologies is overwhelming, which is why we're introducing this new Breakout Vendor research. In these reports, we give you insight into the most promising innovations — and the companies behind them — that will accelerate growth in the age of the customer.

Forrester's Breakout Vendor reports provide insight into:

  • Offering: What are the capabilities of the products and the technology?

  • Scenarios: What are the scenarios and environments in which the company excels?

  • Maturity: What is the company's go-to-market approach, channel strategy, and viability?

  • Challenges: What are the potential pitfalls and areas for improvement?

  • Road map: What's next for the business and its products?

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Just Don't Call It Native Advertising

Ryan Skinner

In the context of writing a report on the native advertising technology landscape, I was looking at many publishers' native advertising products when it occurred to me:

Nobody uses the same damn name for native ads, no one calls it 'advertising', and almost no one calls it 'native'.

Here's a word cloud of all the names used for native advertising products by 20 leading publishing houses (full list of the publishers below).

Not a single name for this product was repeated publisher to publisher.

Let me repeat that:

Not a single name for this product was repeated publisher to publisher.

Now, I get branding. Ford's not going to name their new car Chevy. But this isn't branding. Chevy and Ford can both agree that the Mustang and the Camaro are, in fact, cars. Ford doesn't call its cars Frisbees, and Chevy doesn't call them PersonTransporters, and think they're competing in wildly different markets.

Further, here's the hall of native ad product naming fame (or shame, if you will):

Top Prize For Most Orwellian-Named Native Ad Product: Mashable's 'BrandSpeak'
(apparently, this is a dialect invented on Madison Avenue, spoken only by a gaggle of editorial primates and consists entirely of CamelCase AdjectiveNames)

Top Prize For Advertising Not-Advertising But-Still-Advertising: Vox's 'Vox Creative'
It sits under the 'Advertising' category of the site, next to another offering called...'Advertising'. I don't even.

Top Prize For 'Let's Admit It, This Could Be Just About Any Old Thing': Economist's 'Content'

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Your Customers Have Abandonment Issues

Brendan Witcher

Omnichannel fulfillment services have indubitably piqued the interest of today’s retail leaders; nearly one-third of the retail organizations we surveyed already support “buy online, pick up in store” (BOPIS) functionality or have plans to implement the technology by the end of next month.  However, proponents of omnichannel fulfillment are starting to recognize that simply offering services like BOPIS does not in itself lift the bottom line. eBusiness professionals must actively ensure that these initiatives are driving real profits for their business, leaving no stone unturned in their quest to maximize conversion and minimize costs.

In our new report Abolish Abandon Rates For In-Store Pickup, Forrester explores how BOPIS order abandonment—or situations in which BOPIS users cancel or fail to collect their purchase from the store—threatens the success of these programs due to lost sales, unnecessary layaway of inventory, wasted associate time, and sunk interchange fees. We provide insights into why and how frequently customers abandon their orders, as well as the actions you can take to increase BOPIS profitability. Our research indicates that:

  • "Buy online, pick up in store" no-shows are more common than you think. BOPIS users canceling or failing to collect their online purchases from the store is a shockingly frequent occurrence. Indeed, 29% of US online adults who have used “buy online, pick up in store” services in the past three months have abandoned at least one BOPIS purchase in this time frame. And if your company targets Millenials, the prognosis is even worse: 38% of BOPIS users ages 18-24 and 48% of users ages 25-34 have failed to collect at least one BOPIS purchase within the past three months.  
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Smart Watches Need (More) Killer Applications

Julie Ask

Smart watches are not a must-have device – yet. The novelty of the device – combined with early adopters eager to have the next great thing – has carried smart watches from an obscure idea to a well-known device, but neither critical mass nor mass market adoption. So what’s missing?

Smart watches or similar wearables will hit critical mass (20%) and then mass market adoption (> 50%) only once consumers adopt these five applications:

1.     Notifications. Among consumers surveyed by Forrester, 40% are tired of pulling their phones out of their pockets or purses. Moreover, according to a study conducted by Mary Meeker from Kleiner Perkins, more than 60-70% of consumers’ mobile moments are simply a quick glance at their devices to get information they need to make a decision or take action. Notifications could range from a sports score to a reminder to pay a bill. Smartphones and apps are overkill for these interactions or mobile moments.

2.     Payments. Mobile payment solutions from companies like Apple, Google, and Samsung, among others, are game-changing. The combination of near-field communication (NFC) and payments drove adoption of the current generation of smartphone upgrades. Mobile payments remove friction from the payment process both online and in-person. For example, I use my Apple Wallet so often that it took me six weeks to realize that my ATM card had expired.

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Introducing The Digital Intelligence TechRadar™, Q2 2016: Essential Analytics Tech For Driving Digital Customer Experiences

James McCormick

Digital intelligence (DI) is the practice of bringing together the big data that we have on our customers to analyze and generate insights in so as to deliver the best, optimal and/or the most relevant experiences during moments of their digital interaction. Firms that get it right have a major competitive advantage in the digital age of the customer (For more information on the digital intelligence approach, see the “Optimize Customer Experiences With Digital Intelligence [61276]” Forrester report).

This hot topic is why I am excited to announce the publication of the brand new Forrester report entitled “TechRadar™: Digital Intelligence, Q2 2016 [76021]”.  In this report, I analyze and review the business success and growth of the 15 core technologies for digital data management, analytics, and experience optimization needed to deliver great digital intelligence capabilities.

Some of my findings include:

  • DI tech is really hot at the moment. Whether its technology to ingest, manage, and merge different customer data (e.g. tag management or data warehousing), or to generate digital insights (e.g. app analytics or spatial analytics), or that for optimizing digital interactions (e.g. online testing or behavioral targeting) we found all the core DI technologies are on a trajectory for delivering a moderate if not significant success.
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The Data Digest: Cinco de Mayo Celebrations Highlight Cross-Border And Cross-Cultural Differences

Anjali Lai

Today in the US, we are gearing up to celebrate Cinco de Mayo with lively music, ice-cold margaritas, colorful clothing — the works. But while many Americans use the day to revel in the trappings of Mexican culture, they often don’t realize that the holiday is actually met with little pomp and circumstance in Mexico itself.

Cinco de Mayo is one of many traditions that have been adopted — and appropriated — across country borders. But the holiday represents a larger concept that applies to people, too: As individuals relocate around the world, they spark cultural variations and build unique identities in their own right.

For example, Forrester’s Consumer Technographics® survey data shows that Mexican-born individuals who now live in the US develop distinct behaviors and attitudes: Not only do these longer-tenured US residents become more comfortable sharing sensitive data (like financial information) online, they also increasingly execute digital transactions:

It’s interesting to note that even though metropolitan Mexico and the US have similar mobile penetration rates, the device profile, technology attitudes, and digital behaviors that characterize Mexican consumers shift after they settle in the US.

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Do Millennials Lack Grit?

Mary Shea

In a recent blog post, "Why Millennials Struggle For Success", well known psychologist, author and MacArthur Fellow Angela Duckworth, explores the question many experienced business leaders and managers ask as well: What’s wrong with Millennials? Why do they keep changing jobs? Why do they complain when work needs to be taken home over the weekend? And so on. She asks if it’s because they don’t have enough grit. Duckworth believes the secret to outstanding success is not talent but rather a special blend of passion and persistence called grit. Duckworth developed a Grit Scale and now has scores from thousands of Americans where her data reveal that grit and age go hand and hand.

So what do we do with those Millennials? Today, Millennials make up one third of the workforce and in four years time they will be half. With the average age of the US B2B sales rep at 40 years old, millennial sellers are, or soon will be, the future revenue generators and business leaders for their firms. Smart sales and marketing leaders realize that status quo communication, management approaches and tools will fail to inspire, and are adapting their enablement strategies and tech stacks to resonate with this important group of employees.

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Have What It Takes To Win In A Post-Digital World?

Carlton Doty

We had a fantastic event last week in New York, as 750+ marketing leaders converged on Forrester’s Marketing 2016. The big theme this year was how to succeed as a marketer in a post-digital world.

What’s “post-digital” you ask? Well, we’re living in that world today and it’s time to acknowledge it. Digital technology is embedded in our daily lives as consumers, as professionals – as human beings. I opened the event describing how marketing evolves in three phases: The pre-digital era was characterized by a mass-media centric, one-to-many approach; the digital era ushered in a data-driven, one-to-one mantra; and today we’re in a post-digital world, and your success will be determined by your ability to adapt to one-to-moment marketing.

The digital distinction now dissolves into our daily lives. This raises the stakes for marketers because your customers aren’t just empowered by digital technology – they’re actually entitled. They think they deserve something, they want it now, and if you can’t provide it, they will quickly find it somewhere else. Forrester and industry speakers explored this phenomenon over the course of our 2-day forum. Here are the top 5 key takeaways from last week:

1. Adopt A Post-Digital Mindset.

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What Do B2B Marketers Really Do? Forrester Wants To Know

Laura Ramos

Have you ever wondered about the tactical challenges B2B marketers (like you) face across role responsibilities like building brand/awareness, generating qualified demand, nurturing leads into qualified sales opportunities, enabling sales/channel partners to better close business, and expanding current customer relationships? 

Or how your practices around technology adoption, process change, modern marketing skill development, and sales alignment compare to peers?

If you tell us -- we will tell you more in return.

Many of you read our blog and research, or talk to us during inquiries, about best practices.  We have deep experience helping many clients strategize and execute on many aspects of modern marketing, but sometimes it's great to have some fresh input all at once.  Therefore, the B2B marketing research team has fielded a survey to take an indepth look at the state of B2B marketing tactics and sales enablement activity.   We hope you will take about 10 to 15 minutes to share your experiences by clicking here.

All responses will be kept confidential and results reported in the aggregate (so no one can figure out who's leading and who's lagging!)

We planned to close the survey last Friday, but would LOVE to hear from a few more of you to help us get a nice healthy sample.  And if you want Matt Camuso (our RA working on the survey) to stop badgering your with all those emails, now's the time to take the survey!

Time runs out officially this Friday, May 6 at 5 pm ET. Take this Survey!  Or the dog gets it.... (c'mon, you remember National Lampoon?)