Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics in ecommerce
    Analytics Technology Drives Conversions for Your eCommerce Site
    5 Min Read
    CRM Analytics
    CRM Analytics Helps Content Creators Develop an Edge in a Saturated Market
    5 Min Read
    data analytics and commerce media
    Leveraging Commerce Media & Data Analytics in Ecommerce
    8 Min Read
    big data in healthcare
    Leveraging Big Data and Analytics to Enhance Patient-Centered Care
    5 Min Read
    instagram visibility
    Data Analytics Plays a Key Role in Improving Instagram Visibility
    7 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: The New Face of Commerce; Local, Social and With a Unified Experience
Share
Notification Show More
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Marketing > The New Face of Commerce; Local, Social and With a Unified Experience
Marketing

The New Face of Commerce; Local, Social and With a Unified Experience

mfauscette
Last updated: December 6, 2010 3:48 pm
mfauscette
5 Min Read
SHARE

Twice this year Google has attempted to buy a leg up in the local commerce arena and twice they have failed. Last January they made a run at Yelp and last week the target was Groupon.

Twice this year Google has attempted to buy a leg up in the local commerce arena and twice they have failed. Last January they made a run at Yelp and last week the target was Groupon. Google, it would seem, is convinced that the small business local market is the next source of growth for them and they really haven’t come up with an effective way to get a piece of the local ad business. They do have some assets that could be useful in the local commerce battle, specifically maps and places but certainly those assets aren’t enough to get the big gun engaged, the Google ad platform. Anyway, the point is that Google once again validated that local is one of the important trends in the new world of commerce that is rapidly gaining momentum and I’d say validated in a “big” way considering the almost $6B offer Google made for Groupon, a company with somewhere between $500M – $2B in revenue (depending on who’s report you believe).

I started talking about the new world of commerce in this post a few weeks ago and it’s getting clearer to me just what trends are coming into play to create a new approach to commerce. The first trend is the move to a hyper-local approach to business as evidenced by Google’s attempts to get engaged somehow in the local ad business. Here are what I believe are the key technology and behavioral shifts that are driving “new” commerce:

  • Local: which of course includes location as a part of context to the shopping experience. Groupon and Yelp have both cracked a part of the local market. Yelp combines community with crowdsourcing and user generated content to gain influence which it then leverages to sell ads and ultimately get customers in the door. Groupon is similar in that it also is focused on getting customers in the door although it does that through managing promotions / offers. According to Hitwise Groupon generates 79% of the group buying business (it’s closest competitor is Living Social, at 8%) and according to Comscore saw a ridiculous increase in traffic of 657% year over year (based on October traffic).
  • Social: connecting your social networks to your commerce experience is a big opportunity to change the shopping experience. Enabling the use of trusted filtered networks for recommendations, validation, etc. makes for a much richer shopping experience.
  • Mobile: Yes this is very obvious but mobile and the resulting hyper-connectivity is key to the new connected shopping experience. Things like QR codes on items, bar code apps for research (including sustainability information) and price comparison, mobile payments, managing loyalty programs and promotions (including location triggered offers), video and photo sharing and connecting in real time to social networks make mobile a critical component.
  • Internet of things: Extending connectivity to things in addition to mobile devices opens up some interesting possibilities. For example what if stores could provide connected inventory maps to your mobile devices? So all I’d have to do is tell my phone I want some 1/4″ bolts the next time I’m at the hardware store and the phone would know that I’m in a hardware store, it would know where things are in the store and it could provide a map to guide me to what I need…
  • Converged or unified experience: I think the boundary between online and offline shopping is eroding. Putting the Internet in your pocket opens up all sorts of opportunities for better experiences, and add in the other trends and you start to see a very rich and new experience is possible.

Converged experience is the complicated part and currently doesn’t exist. Pieces of the puzzle are coming together though, but as always hooking different technologies together is the complicated part. This new converged commerce experience is rapidly coming together though, with pressure from both merchants and customers and a lot of incentive for tech vendors to sort out their offerings.

TAGGED:commerce
Share This Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

trusted data management
The Future of Trusted Data Management: Striking a Balance between AI and Human Collaboration
Artificial Intelligence Big Data Data Management
data analytics in ecommerce
Analytics Technology Drives Conversions for Your eCommerce Site
Analytics Exclusive
data grids in big data apps
Best Practices for Integrating Data Grids into Data-Intensive Apps
Big Data Exclusive
AI helps create discord server bots
AI-Driven Discord Bots Can Track Server Stats
Artificial Intelligence Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

Commerce Department Calls for Privacy Enforcement

2 Min Read

Christmas 2011: a Great Example of Smarter Commerce in Action

10 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive
ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-24 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?