Although only 2% of household goods are bought online and 8% of all goods are bought online, shoppers continue to find more reasons to skip their trip to the store and shop on their favorite e-Commerce site.
In a presentation during the 2017 Retail Innovation Conference, Josh Wais, Emerging Technology and Strategy Lead at Jet.com, shared five key takeaways he felt retailers must follow if they want to survive and thrive in the midst of these constantly shifting consumer preferences.
1. Go Where Others Aren’t
“In the past, location was that,” Wais said. “We could have region differences in our footprint and we wouldn’t be competing with others. Today it has to be through your value proposition and the role that you fit in the lives of your customers. You have to think about how that’s unique, and how that’s going to serve not everyone, but your particular customers in a way that they’re going to choose you rather than one-click away choosing someone else.”
Moosejaw, whose marketing efforts are led by another RIC presenter, CMO Dan Pingree, is a great example of a brand leveraging its own content to distance itself as a brand and be the “most fun outdoor retailer on the planet.” Pingree noted that beyond the silly marketing campaigns, Moosejaw has even hosted its own Valentine’s Day “break-up service” where customers can ask a rep to call their significant other and end the relationship for them, showing that the company has a unique and quirky, yet relatable, sense of humor.
“There’s always been a lot of talk about experience since it’s a fairly obvious one,” Wais noted. “What’s different now, is that you didn’t have to compete with experience. Your experience could frankly be pretty poor and you’d still be okay.”
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