• Loading...

Reflections on
NRF Big Show 2020

Since our return from this year’s NRF Big Show and a lot of interesting store visits in New York, we have reflected on the experiences that made the biggest impression on us and which we believe will influence retailing and with it also the digital shopping most in the near future.

‘Recommerce’

It is not just a question of increasing attention but also an increasing demand from a growing number of consumers to be able to shop sustainably.

One of the fast-growing trends, which supports the sustainable way of thinking, is to have the consumers rent the products instead of owning them. Use and throw-away dies for the benefit of a prolonged life cycle of the products. Rent the Runway was among the front-runners of the concept but more and more brands follow in their footsteps: Rebag, The Thrunk Club, M.M. La Fleur et al.

MUST-HAVES IN YOUR E-COMMERCE SOLUTION:

  • Handling of subscription plan
  • Loyalty club/login functionality
  • Establishment of a community in which the consumers can exchange experiences and evaluate the products

Experience stores

In the stores in Manhattan, the focus on the generation Millennials (born between 1981 and 1996) is increasing and represents today one fourth of the world’s population and possesses an enormous purchasing potential.

The strategy behind the store concepts is to create a counterbalance to the factors which influence the Millennials most: climate changes, the fast technological development, Social Media and the mentality of being ‘constantly on’. As a result, focus is on the ‘Mindful Shopping’ and the ‘Home Away From Home’ store concepts which are characterised by being beautiful, pleasant, calm to the eye and mind, homely and oozing of experience rather than shopping.

MUST-HAVES IN YOUR E-COMMERCE SOLUTION:

With stores which are increasingly acting as showrooms instead of shopping rooms, it is the webshop that has to ensure the turnover, but it has to be a webshop which is an extension of the physical universe which the customer has experienced.

This makes huge demands on the webshop’s design and UX. In addition, it has to be efficient to find and purchase products, have a big selection and be personalised.

Diversify through partnerships

The well-known and popular brands are very good at creating the fantastic experience universes, physically as well as online, as required by the consumers. In New York, we saw several examples of retailers who form close alliances with selected brands which is an advantage for both parties. One of the advantages is that the retailers can benefit from a brand's experience universe, while brands obtain the most profitable positions at the retailers and/or can use their efficient logistics systems.

A good example is the partnership between Amazon and the department store Kohl’s with more than 1,000 physical locations in the US. The two companies use ‘their joint passion for good customer service' for example when Amazon customers can return packages in Kohl's. The gain for Amazon is an improved customer service in the form of a physical store network. The gain for Kohl’s is to be able to attract more customers to their stores.

In the store Urban Outfitters, it is possible to eat in one of the popular Sushi fast-food restaurants, Poké bar, in addition to browsing, trying on and shopping fashion wear. A cooperation which attracts new customer segments and ensures increased traffic to store for both parties.


MUST-HAVES IN YOUR E-COMMERCE SOLUTION:

  • Good integration options to external systems
  • Flexible design templates
  • Good onboarding of new brands and product categories via PIM or a supplier portal

Live commerce

E-commerce and live streaming form a fantastic team because we are already happy to watch videos and shop online. The trend travels at full speed in China where the largest platform is Alibaba's Taobao Live but also American brands and retailers have started to move. Consumers get an up to date and present knowledge of the products of interest and can shop the products without changing media.

MUST-HAVES IN YOUR E-COMMERCE SOLUTION:​​​​​​​

  • Optimal interaction with external technologies
  • Video functionality
  • Control of product data so they can be tagged in the videos

Fulfillment

Seamless, uncomplicated, easy. Innovation is ongoing when it comes to delivery and returning of products purchased online. And the goal is obvious: to ensure the good customer experience which can create loyalty, good customer reviews, increase traffic to store – and thus an improved competitive position.

Fulfilment is not a new trend we have met this year. It has been emphasised for the past couple of years when we have participated at NRF and visited stores in Manhattan. But we can see that that the discipline gets more refined and sophisticated every year. We saw far fewer stationary cash register areas placed centrally in the store but instead we saw mobile terminals.

We saw creative BOPIS and BORIS solutions which both considered the customers’ needs for simplicity but also ensured increased traffic to store and additional sales.


MUST-HAVES IN YOUR E-COMMERCE SOLUTION:​​​​​​​

  • Control of stock in all channels
  • Streamlined checkout flow which ensures easy BOPIS
  • The possibility of combining offline with online shopping via mobile terminals in the store or App.

Thanks for reading this.
​​​​​​​Are you interested in a talk about the future e-commerce?

Please contact CEO, Lars Hedal, at
tel. +45 40 25 50 83 or email: hedal@bizzkit.com

Newsletter

Join our newsletter and get access to the latest e-commerce trends, tips about up-coming events, inspiring cases, Bizzkit platform updates and much more.

Read more news

Latest news

News archive