Making Sense of the Evolved Digital Commerce Landscape
Retail Remix · with Rick Watson · August 2, 2021 · 27 min
Summary
This episode dissects the permanent shift to digital commerce, emphasizing that while some pandemic-driven changes may recede, the overall trend toward digitalization is a "one-way door." It explores how brands are adapting to this new landscape, focusing on direct-to-consumer (DTC) strategies to own customer data and foster deeper relationships, especially in categories previously lagging in digital adoption like grocery, home, and beauty. The discussion also touches upon the growing importance of augmented reality (AR) in enhancing online shopping experiences and the impact of data privacy changes on brands.
Key takeaways
Digitalization is a permanent shift, even if some pandemic-driven online activities (e.g., grocery) partially revert to offline, a significant portion will remain digital.
Brands are increasingly adopting DTC models to gain direct access to customer data, which is crucial for developing better products and personalizing experiences, especially as third-party data tracking becomes more restricted.
Categories traditionally lagging in digital penetration, such as home, furniture, and beauty, have seen significant acceleration and present new opportunities for digital optimization.
Augmented Reality (AR) is emerging as a practical tool for online commerce, particularly in categories where visualization is key (e.g., seeing furniture in a room or makeup on a face).
The evolving data privacy landscape, driven by big tech players like Apple and government regulations, forces brands to rethink data acquisition and focus on direct customer relationships.
Is the shift to digital is a one-way street or will ecommerce go back to how it operated before the pandemic? Which categories will be able to capitalize on new or accelerated digital behaviors? During this discussion, initially aired as part of Retail TouchPoints’ Retail ThinkTank hub, host Alicia Esposito sits down with Rick Watson, Founder and CEO of RMW Commerce Consulting, to discuss what is fueling innovation in once-laggard categories like digital, advertising, social and marketplaces.
Digitalization is a permanent shift, even if some pandemic-driven online activities (e.g., grocery) partially revert to offline, a significant portion will remain digital.
What does this episode say about retail & omnichannel?
Brands are increasingly adopting DTC models to gain direct access to customer data, which is crucial for developing better products and personalizing experiences, especially as third-party data tracking becomes more restricted.
What does this episode say about analytics & attribution?
Categories traditionally lagging in digital penetration, such as home, furniture, and beauty, have seen significant acceleration and present new opportunities for digital optimization.
What does this episode say about ai & automation?
Augmented Reality (AR) is emerging as a practical tool for online commerce, particularly in categories where visualization is key (e.g., seeing furniture in a room or makeup on a face).
What does this episode say about dtc strategy?
The evolving data privacy landscape, driven by big tech players like Apple and government regulations, forces brands to rethink data acquisition and focus on direct customer relationships.
