The “Multiple Retail Reunion” – nicknamed Shoptalk – took place at the end of March in Las Vegas in a playful atmosphere: 10,000 professionals gathered, most of whom hadn’t met in 2 years. Here are 5 lessons from these 4 days of the conference:
Retail Media is in everyone’s conversation.
Soon, all brands and brands will have a Retail Media activity
Relying on first -party data is never more desirable. The topic is interesting for monetization, but also for generating traffic, data and customer experience. Almost all major companies and platforms use their amount of first-party data to launch a Retail Media activity, which will allow brand partners to launch sponsored ads campaigns on the brand or platform on the site and not just provide and most relevant ads per customer.
Instacart example: retail media is a huge source of revenue that will help the delivery company run by Fiji Simo since July, to face competition from new players, and from Amazon, in the field of fast food shipping.
Fast Delivery
An industry in itself, and the future of the food industry
Who will win the fast shipping race, and which food brand will win this battle? Leaders from Instacart, Shipt, Gopuff and DoorDash gave their opinion on the subject.
Consumers are the big winners. However, implementation and profitability remain difficult for retailers.
Dara Khosrowshahi, CEO of Uber : “Uber Eat has grown from 4 to 50 billion dollars per year in just four years”. Uber’s new approach (comprised of the “Uber doesn’t Eats” campaign, involves putting all the energy of its ecosystem into the service of retail companies: “ With the need to completely transform transportation, e-Commerce has been completely transformed and we are ready to help transform retail. »
Christopher Payne, CEO DoorDash : “The demand for product delivery is higher than before the pandemic”. “You may not be able to make a delivery business profitable in 15 minutes”
Fiji Simo, CEO of Instacart: “ Instacart will launch a 15-minute delivery service, including mini delivery centers with retail partners, such as Publix “.
The big question of profitability remains.
Live Trade
A new easy-to-set-up channel that we can create
Sales made by Live Commerce in the United States have reached the level where China 4 years ago. Today, Live Commerce in China represents 30% of Chinese e-commerce!
Watching a LiveStream has become a habit: 32% of American consumers have already watched a livestream of shopping. Technology is not a topic: major international players are developing robust platforms, which are evolving with the demands. More difficult than the art of marketing. You can’t be QVC all night.
Buy Now, Pay Later
Not offering it is depriving yourself of a significant amount of sales.
One number sets the tone: among buyers who used BNPL, with no BNPL service offered, 29% would have bought little, or no purchase.
“Are you willing to deprive yourself of sales? »Argue with the main actors in BNPL.
Note: Klarna definitely started BNPL as her core business, but now more: a Super App. Now, consumers can visit the Klarna app to access news of their favorite brands in one place: new products, livestreams, events, discounts … BNPL is offered there, but not this is the main reason to visit the app. You can also imagine the power of Retail Media for Klarna and its associated brands …
And the metaverse!
“Gen Z drives a lot of energy around the metaverse and it’s important that brands are there”
One of the reasons for the test – because everyone is in the experimental stage right now? Your little ones have just spent two years on Metaverse.
And during an interview given to me earlier by Joseph Sartre (Interlace Ventures), he shared with me his vision of Web3: a unique opportunity to create next-generation membership systems. An example: the delivery of coffee for NFT owners, with: exclusively reserved for members, innumerable levels of access, possibility to resell the membership for the member, and so on. Web3 paves the way for loyalty programs to which new generations can be attentive. Thank you Joseph for this vision!
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