The Internet has become the main purchase path for many consumers so let’s uncover the latest trends and developments in online shopping and learn about what is making consumers click “Buy Now.” How are innovations in mobile, local, and social changing the shopping experience? What is the real impact of coupon and deal sites? Join us to discuss what is driving changes in shopping behavior, who is buying and why, and most importantly, how affiliates can continue to be at the center of these trends. The speaker was:
- Ronan Vance, Director, Business Development
This was a great last session to end on. It was chock full of information – if you were an attendee of CJU and didn’t get a chance to check out Ronan’s presentation, I highly recommend you access the CJUniverse for his presentation PDF. There’s so much more information in the form of great charts that I can’t really include here. I love it when presentations have lots of interesting stats, and Ronan sure didn’t disappoint!
Bullet Point Review!
- Where to buy? Lots of different ways to buy.
- The times they are a-changin.
- Early 20th century: personal, social, immediate, informative.
- Late 20th century: variety, experiential, social, immediate.
- Early 21st century: variety, convenience, transactional, informative.
- Understanding the online shopper.
- Buying more online, 30mil new shoppers online. 5.8% of total retail sales in 2010 (eMarketer). Forrester says if you take groceries out of the equation it’s more like 12%.
- Top reasons us shoppers will shop online: 24 hr shopping, easier to compare prices, free shipping offers, I don’t want to fight the crowds, more convenient to shop online, easier to find iems online, better variety online, I often don’t have to pay tax.
- Three hot trends that continue in 2011.
- Coupons
- Despite challenging economic conditions, people are still shopping online to get the best deal.
- More people are price comparison shopping and printing coupons online than looking for jobs.
- Couponing has become part of our culture.
- Maximize coupon usage: give choices, diversify placement, remove obstacles, promote sharing, go mobile.
- Adult mobile coupon users. About 19.8 mil today, est 35.6 mil by 2013.
- Daily Deals/Deals of the Day
- Fleeting, play into your emotion because people feel they need to take advantage of the opportunity that they’ll never see again.
- Groupon and LivingSocial have ~40% of the group/ daily deal market.
- Very social aspect. Over 80% of Groupon subscribers will share a deal in some way, shape, or form.
- 77% of deal buyers for Groupon, LivingSocial, BuyWithMe, Travel Zoo are new customers, 36% spent beyond the deal value, 68% returned to the establishment and bought again without a coupon, 20% became return customers, 22% were unredeemed (Source: Rice University Survey)
- Social local mobile (SoLoMo)
- F-Commerce? Commerce on Facebook.
- Discovery + eCommerce + community = future of F-commerce.
- Local apps (Foursquare, Gowalla): check-in, find deals, build loyalty, earn rewards, get instant gratification.
- Mobile: check stock, compare prices, find coupons, learn more, read reviews, shop online, phone in order.
- What’s next?: Informative, Experiential, personalized, social, immediate.
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