Top 5 takeaways from eCommerce Expo 2023
and jump Cappuccino. Coffee Design, 2023
eCommerce Expo is a melting pot of people and products shaping digital commerce from AI to the future of Experience.
Whilst the basics are fundamental — customer first, deep understanding of human and market factors, continuous innovation— practitioners have much to learn from innovations in AI, evolving customers’ needs and experience design. We share our top takeaways.
1. Embrace Creativity
Retailers are feeling the pinch as consumers watch the pounds and pennies.
In a highly crowded and competitive e-commerce landscape, creative thinking can help brands stand out and engage with their audience through innovative marketing campaigns, unique product offerings, and compelling brand storytelling.
Deliver human and personal customer experiences. Accenture data suggests that 79% of visitors will likely be more loyal to your brand due to a personalized shopping experience. Marketo data found that 96% of visitors arriving at a website for the first time are not ready to buy. Pushing them to ‘Buy now’ or enquiring at this point is unlikely to work.
Why this matters: Bring different voices into the conversation to help spur new ideas. Consider the customer's total lifetime value, not just the immediate sale.
2. Align your AI policy with the firms moral compass
“Firms can’t wait to be told what their AI policy should be. ”
The topic of AI dominates. People recognise its vast potential, but as Janis Thomas, managing director of Look Fabulous Forever, rightly observes, government, regulators, and businesses shouldn’t consider the downsides and learn from social media.
The BBC has released its initial BBC Generative AI guidelines as it experiments and explores the use of Gen AI in what it makes and how we work—taking a targeted approach to better understand both the opportunities and risks.
Why this matters: Every company should have procedures on how AI should and shouldn’t be used in line with its morals.
2. Total experience rules
Gartner has coined the term Total Experience, “TX”, where firms use data and personalisation to break down silos and turn customer and employee digital experiences into a smarter total experience — optimised for loyalty and increasing breakthroughs.
“82% of customer experience (CX) leaders predict their budgets will rise in the next 12 months [1]”
But what is a good experience? Tamara Lohan, CEO of Mr and Mrs Smith, showed good ideas can come from anywhere or a massive frustration. A bad hotel experience led to the conception of the successful hotel booking platform, now acquired by the Wyatt group.
However, success in the long term requires a deep understanding of the topic. Mr and Mrs Smith care about small details and how customers feel. One inspiring example shared was the Forestis hotel in Italy, which completely redesigned its restaurant so every table could view the impressive Dolomites mountain.
Forestis Dolomites Hotel, Italy
Why this matters: As marketers, we need to be humble. Recognise where there are pain points, and spend time considering what makes your brand unique. What would be your brand equivalent of the Forestis Hotel in Italy? How might that inspire you to push your experience to the next level?
3. Technology is an opportunity to reimagine
We often see firms digitising the existing business without considering how technology can spur a true transformation, making that firm fit for purpose. Concerns are that this pattern will repeat with AI.
The human connection still matters. Max Arnold at Harrods has found breaking down barriers, be that time zones or to access critical people such as personal shoppers, has proved extremely popular, so much so that personal shopping experiences have become central to its business strategy.
Barclaycard shared that online payments have now surpassed the value of face-to-face payments. However, online isn’t without challenges: 10X changes of fraud and lower approval rates. Business payments and commerce are set to become more modular; they advise that no one partner can do everything, and firms must improve their interoperability and capability.
Why this matters: Firms must think ‘phygital’, deeply combining the digital and physical with tailored experiences and relevant services. These projects take time to get right, but it’s worth it. Initiatives should feed into the richness of the category and customer understanding, driving continuous improvement.
4. Sustainability becomes a key differentiator
As the general public sees the devastating effects of climate change, the issue cries for greater action by government and business.
Sustainability is a new challenge for firms but also an opportunity to stand apart from their peers.
Mr and Mrs Smith use it as a business value and standard of trust. Their criterion has culminated in the assessment not just of new hotels but also of their new owner, Wyatt Hotels, to see if they meet their high standards and to drive innovation.
Tala, a new activewear brand started by influencer Grace Beverly, triangulated customers, sustainability, and competitive pricing to find its niche. Its growth has been unprecedented.
Why this matters: Sustainability is not just planet-critical. It’s a phenomenal opportunity to look at things fresh. B-Corp provides a roadmap and structured activities to be sustainable and certified.
5. Finance and innovation tag-team
eCommerce director Hannah Bennet at Paul Smith, whose remit is building best-in-class experiences, recommends getting the CFO in early. Why? Because it’s often hard to communicate value in the short term. They have a financial planning director as part of their team who helps bridge the brand and the commerce. Genius!
Why this matters: It’s critical that design shows the business case. Partnering with a finance-led person who gets the numbers and appreciates creativity leads to better value, communication with leadership, and better innovations.
⚡️ To see how these insights affect your organisation
🙌 Thanks to Tamara Lohan (CEO, Mr & Mrs Smith), Morgan Fowles (CEO, Tala), Nick Evans (Active Partners), Mark Arnold (Harrods), Hannah Benett (Paul Smith)
Footnotes
1. Forrester, Budget Pulse Survey 2022, Forrester Planning Guide 2023: Customer Experience, 2023
