Everywhere, Embedded Commerce in 2023
PRIMER
Everywhere commerce is an evolution of multi-channel commerce. Retailers are not only designing experiences for where consumers are present but further for products and services to fit seamlessly into the lives of people instead of the other way around. Many retailers are digitizing several aspects of the shopping journey, from front-end experiences such as discovery to back-end functions like supply chain management. Social media and entertainment platforms are improving their features to turn themselves into marketplaces. As a result, people are shopping while working out, working, driving, traveling.. just about anytime, anywhere. However, there have been speed-bumps with the adoption of E-commerce. E-commerce did not achieve the expected growth and revenue that was predicted during the pandemic. Retaining consumers has proven to be difficult, with ineffective, high-spend consumer acquisition and increased privacy regulations. Macroeconomic contexts of rising inflation and a recessionary environment are also impacting spending habits. Amidst these shifts, we envision an opportunity for Everywhere, Embedded Commerce; where buying and purchasing feel more organic to the consumer, as opposed to the intrusion or inconvenience ads can feel like today. With cohesive integration across channels and the presence of hybrid stores, the entire process can be experienced more naturally. In the following pages, retailers can learn about integrating Everywhere, Embedded Commerce into their everyday ops without the upheaval of their existing business model.
"Now, E-commerce sales are plateauing as shoppers return to physical stores. The share of total shopping that is represented by E-commerce grew from 11.1 percent in 2019 to 14.6 percent in 2020, where it's stayed"
-Excerpt from the Washington Post, 2022
Everyone kind of bought into the myth that E-commerce is going to permanently accelerate. But in order for that to happen, you have to have a fundamental change in behavior... -Andrew Lipsman, Insider Intelligence Analyst for Retail & E-commerce
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