iMedia Industry Update: Trends in Commerce By Chris Arens Here at iMedia, as we continue to crank through Q2, all eyes are on the topic of commerce. In June, iMedia will bring the foremost experts on the matter together at its first-ever iMedia Commerce Summit, featuring a blockbuster lineup that includes keynoter Kelly Thompson, SVP of merchandising, merchandise planning, and marketplace at Walmart.com. (Have you requested your invitation?) Topics of exploration at the summit will include the following four commerce-related trends that all marketers must be tracking. 1. Ubiquitous shopping Americans now have the ability to transact anytime, anywhere. According to comScore, m-commerce sales were up 27 percent through Q3 of 2013, netting a total of $16.4 billion -- and that's before the biggest shopping quarter of the year. That means m-commerce in Q4 2013 alone likely topped $9 billion. 2. Distributed cataloguing Today the item -- not the brand -- is king. The traditional catalogue model is flipped on its head. Now the name of the game is to get your product featured or displayed on a variety of websites that will ultimately lead interested parties back to your site or a third-party commerce site. 3. Social personalization Amazon has perfected the "customers who bought this item also bought..." recommendation engine. But that's just the tip of the iceberg when it comes to the idea of social selling. On a much broader scale, brands can leverage consumers' social connections as purchase influencers. 4. Co-created retail Some folks might file this under the more-traditional monikers of licensing or co-op promotions. But the basic concept is this: To attract new customers, you can enhance your product by aligning it with other brands that resonate with a desired audience. For example, if you've identified that casual mobile gaming is a passion-point for your target audience, a co-created product with Rovio's Angry Birds might spark new sales. These and other trends will continue to reshape the commerce landscape as we know it. Are you prepared? See Chris' full industry address here > Sincerely, Chris Arens Managing Director and Publisher |