Why do we buy things we don’t actually need? Emotion plays a big role; purchasing a product can make you feel good about yourself (workout clothes) or that you belong to a community of others who share your values (shoes made from recycled materials). Most of us also like to get a good deal (admit it: getting the most for your money has brought a smile to your face). You can build an emotional connection with your products through brand building and creating compelling lifestyle content. But you also can tap into the power of “good-deal glee” with a smart product bundling strategy. 

eCommerce growth is nothing new to retail, but with the coronavirus pandemic, brands are having to quickly evolve to meet the needs of consumers. Many reports are showing eCommerce growth for essentials and even sales comparable to BFCM but other industries are going to need to help customers shop in a new way as we all learn to adapt to our new way of life.

Since 2016, we’ve seen increased use of AR by retailers. If you haven’t checked out AR in the last few years, you may be surprised by how much it has improved (in large part thanks to advancements in artificial intelligence, machine learning and mobile device technology). There has been a large improvement with how brands are using it to create engaging user experiences, and how much shoppers want AR. For example, an Accenture survey found that 61% of consumers said they were interested in using augmented reality to help them better determine how clothes would fit when shopping online.

These are tough times for retail. While eCommerce sales might be up, many omnichannel brands and specific categories are taking a hit. There’s also a lot of anxiety, both personal and financial, due to Covid-19 and an impending recession. We feel it too. 

We’re also having a moment of information overload from all of the articles, tips and reports being produced. To help you weed through and find information you can use to determine what modified strategies are right for your business, we thought it would be helpful to provide a roundup of and key takeaways from what we’ve found insightful. As we come across new articles and resources, we’ll continue to update this blog, so be sure to check back.

Companies like Netflix and Amazon have set a high bar for retailers when it comes to personalizing online shopping experiences. In fact, more than half of consumers say they expect that companies will anticipate their needs and make recommendations before they even make contact. While this may sound daunting, it doesn’t have to be.

Increasing average order value (AOV) is a tried-and-true strategy for maximizing revenue from existing customers. You’ve been there, done that. However, now that the subscription eCommerce market is growing by leaps and bounds, you may want to consider how you can apply this strategy to your subscription customers.

Despite the increasing use of messaging apps and social media, good old email continues to outperform them all when it comes to customer acquisition, retention and revenue. And when you create personalized emails that deliver relevant messages and offers to specific audiences – like your most profitable or engaged customers – the power of email really becomes apparent. One survey concluded that segmented email campaigns (vs. one-size-fits-all campaigns) could increase email revenue as much as 760%! Another survey reported that targeted emails generate 58% of companies’ overall revenue. That’s nothing to sneeze at.

Use of SMS, aka “texting,” for eCommerce is on the upswing, but still widely underutilized, creating major opportunities – particularly with subscriptions and customer service, in our opinion – for brands that are quick to the punch.