As the entire world undergoes a step change to digital, brick-and-mortar retailers are finding themselves reviewing their business models as part of their slingshot strategy. And what is becoming evident as we bounce back from what has shaken the planet, is that Ecommerce will not retreat and physical retailers will have to continue investing in their online customer journey to not just survive, but to thrive.
Trends and insights for retailers
On a recent episode of Marketers in Pyjamas, Xero’s Chief Customer Officer, Rachael Powell stated:
“This is going to be a transformational shift to digital for all businesses”
What was recently a process of migration to the cloud is now a race to the cloud, with many retailers turning omnichannel or entirely digital in the last few months. And in order to attract new customers—and connect with existing ones—their spend needs to shift to digital marketing and advertising.
This step change to digital is being validated by the global consumer; with 1 in 3 admitting that they have used a new brand or product in the last week and 82% of Australians confirming that they’re open to discovering new brands or products entirely on Instagram.
Boston Consulting Group partner, Monica Wegner, recently stated:
"There are a lot of people who have been forced into a new behaviour, and one in three of the consumers we surveyed said that they would continue [to] increase their digital purchasing over the next 12 months."
For many businesses, Ecommerce has acted as a life raft alongside the retirement of face-to-face sales.
Following their huge investment in online infrastructure, Accent Group’s CEO, Daniel Agostinelli, said that "in a lot of cases, the basket size, or the size of the purchase, is actually stronger online than it is in stores, which is something very new that we're learning at the moment."
As new purchasing behaviours inform new retail methods, storefronts will scramble to adapt. However, the support and the tools to survive the digital takeover is there, with the existing Instagram Shopping feature and the recent release of Facebook Shops: an initiative that will help small businesses bounce back.
How we can help the step change to digital?
While the surge to digital has seen stores become more accessible, the bar has been raised for quality content in the Ecommerce space.
In his recent article for Forbes TRIBE’s CEO, Anthony Svirskis, explained:
"Lockdowns have not only forced brands to invest more in digital media, they’ve also relaxed the reigns on high production values."
Due to the effectiveness of user-generated content—which converts nearly 7x better than brand-generated content—no longer is a product on a white background a successful way to drive online sales.
In the presence of cancelled shoots and closed production houses, influencers have stepped in to solve the problem, with influencer marketing enabling brands to source scaled digital content while amplifying their audience targeting.
Here are just some of the brands using TRIBE to tap into the power of user-generated content to ramp up their Ecommerce activity and drive commercial sales.
With the increase in online sales, St. Tropez updated their campaign on 'at-home tanning routines' from not only listing brick & mortar retailers where the product could be purchased, but also listing all their e-tailers.
Big W, a large Australian retailer, generated content for their 'home cooking' campaign, which saw them promoting contactless pick-up and home delivery services as a means to acquire their products and promote staying home.
FORTNUM & MASON
One of the most prestigious department stores in the Northern Hemisphere had to go digital come Easter. Their 'Easter delivered' campaign utilised arguably one of their busiest in-store periods to showcase their speedy shift to Ecommerce and new delivery service.
America’s favourite bar & grill was quick to showcase their online presence with their 'Friday home meal kits' campaign, allowing consumers to cook up their favourite meals from the comfort of their homes.
To see more examples of the businesses leading the way to digital and to find out how TRIBE can help, reach out and one of our amazing Customer Success Managers will be in touch.