Commerce 2020
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Commerce 2020 Jason “@retailgeek” Goldberg
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Transcript of Commerce 2020
Commerce 2020Jason “@retailgeek” Goldberg
2
Bartering6000 BCE
Markets100 CE
Money700 BCE
General Stores1800 CE
Supermarkets1916 CE
Big Box1962 CE
Digital2007 CE
3
And disruption actually changes how we behave
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5
2006
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2006
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2006
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2006
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2006
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2006
2.30%
97.70%
E-commerce Retail
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2006
25.00%
75.00%
Cyber Monday Rest of Year
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2006
“Don’t talk to strangerson the internet”
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2006
“Never get in astrangers car”
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2016
Literally use the internet to call strangers and get in their car
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Trust
Social ProofAbsolute Value
Transparency
Consumer Expectations for Today
Trust
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22
How much do you trust the followingforms of advertising?
92%
70%
58%
58%
50%
47%
47%
47%
47%
46%
42%
41%
40%
40%
36%
36%
33%
33%
29%
8%
30%
42%
42%
50%
53%
53%
53%
53%
54%
58%
59%
60%
60%
64%
64%
67%
67%
71%
Recommendations from people I know
Consumer opinions posted online
Editorial content such as newspaper articles
Branded Webistes
Emails I signed up for
Ads on TV
Brand sponsorships
Ads in magazines
Billboards and other outdoor advertising
Ads in newspapers
Ads on radio
Ads before movies
TV program product placements
Ads served in search engine results
Online video ads
Ads on social networks
Online banner ads
Displa ads on mobile devices
Text ads on mobile phones
Trust Completely / Somewhat Don’t Trust Much/ At AllGlobal Average
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92%
70%
58%
58%
50%
47%
47%
47%
47%
46%
42%
41%
40%
40%
36%
36%
33%
33%
29%
8%
30%
42%
42%
50%
53%
53%
53%
53%
54%
58%
59%
60%
60%
64%
64%
67%
67%
71%
Recommendations from people I know
Consumer opinions posted online
Editorial content such as newspaper articles
Branded Webistes
Emails I signed up for
Ads on TV
Brand sponsorships
Ads in magazines
Billboards and other outdoor advertising
Ads in newspapers
Ads on radio
Ads before movies
TV program product placements
Ads served in search engine results
Online video ads
Ads on social networks
Online banner ads
Displa ads on mobile devices
Text ads on mobile phones
Trust Completely / Somewhat Don’t Trust Much/ At AllGlobal Average
Earned
Owned
Paid
How much do you trust the followingforms of advertising?
24
25
92
AOL
2004
94
TK-TJ Maxx
2007
130
HeartlandPayment Systems
2009
77
SonyPlayStationNetwork
2011
110
Target
2013
130
Ebay
2014
109
Home Depot
2014
1
Hanes
2015
0.6
Kroger
2016
Breaches
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How to Earn Trust
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Processing Fluency
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32
rg.tl/trust_stanford
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rg.tl/trust_stanford
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Trust Symbols
Be Reachable
Social Proof
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A principle of persuasion:
“people want to follow the lead of individuals around/like us.”
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SocialProof
Brand
How to deliverSocial Proof
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Q&A
49
User-Generated Content
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Walmart Trending Products
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Badges
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Amazon Style Code Live
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JackThreads “Busy Shop”
Absolute Value
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“When quality was hard to predict, it made sense to stick with a familiar brand. But when you can quickly assess the quality of things, loyalty doesn’t help consumers as much.”–Itamar Simonson, Stanford marketing professor
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Brand A96.9% Survival Rate
$199
Brand B94.8% Survival Rate
$129
Brand C73.5% Survival Rate
$109
Which hard drive should I buy?
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Brand A96.9%
Survival Rate$199
Brand B94.8%
Survival Rate$129
Brand C73.5%
Survival Rate$109
Based on real-world experience of 25,000 drives used in a 24/7 data center by Backblaze.comAmazon pricing, all prime eligible
Which hard drive should I buy?
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How to leverageAbsolute Value
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Discount Tire Case
Transparency
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Model # 46113101 Model #: 46110001
Home Depot Lowes
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Obfuscation Transparency
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RIP: Price Obfuscation
How tobe transparent
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Trust
Social ProofAbsolute Value
Transparency
Consumer Expectations for Today
Jason & Scot Show Episode35
7 deadly sins
80
#1 No Guest Checkout
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$300M Button
https://articles.uie.com/three_hund_million_button/
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3 in 5 users would rather clean a toilet thaninvent a new password
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92
#2 No Free Shipping
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0%
10%
20%
30%
40%
50%
60%
70%
80%
Q1 2013
Q2 2013
Q3 2013
Q4 2013
Q1 2014
Q2 2014
Q3 2014
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
E-Commerce Orders with Free Shipping
Source: Comscore
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58% of consumers are at least somewhat likely to abandon their shopping cart if they discover they
have to pay shipping costs atthe time of purchase
Source: Comscore
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9 types of Free Shipping
Free shippingon everything
Free shippingon certain dates
Free shippingw/ loyalty
Free shippingwith threshold
Free shippingto some locations
Free shippingon some items
Free shipping to store
Free shipping on Returns
Free shippingfrom store
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#3 Not saying“When they will get it”
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#4 No Prominent Search Box
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107
109
#5 No Social Proof
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#6 Promo Field
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#7 Home Page Carousel
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Arguments against Carousels
NNGroup Wider Funnel Lee Duddell
ConversionXL Site Tuners Jared Smith
E-consultancy Luke Wroblweski
What Users Do Adam Fellows
