There are products or services that are more often needed for a limited time only. So it’s not only more advantageous, but also more environmentally friendly, not to pay for the products per se, to own them forever, but to have access to them. That’s the sharing economy. Classic examples are cars, accommodation, or tools. And the list is growing.
As the »conscious consumption« social movement’s popularity increases, so does the need for users to constantly buy goods or services. This is especially noticeable among young consumers. But that doesn’t mean that they want to give up consumption completely, but that they’re making purchasing decisions more consciously. Brands are responding to this trend with various business models, such as second-hand or online rental services. The Otto Group and MediaMarkt from Germany have been paving the way for several years.
Today, we’ll explain to you with the help of further use cases, what is moving this young, dynamic market.
Europe. Users, retailers, service providers, and politicians are looking at the continent. Not just because of the EU elections last week, but also because of Europe’s role in promoting a smart, secure, and unified digital economy through measures in various key areas such as artificial intelligence, privacy, and security in e-commerce.
The GDPR had its first birthday on Saturday. And the deadline for the implementation of Payment Service Directive 2 (PSD2) will be on September 14, 2019. This requires strong customer authentication (strong customer authentication, SCA for short).
The aim of PSD2 is to create a secure, transparent payment system and to ensure fair competition within the EU, as well as to reduce entry barriers for payment service providers.
But so far, just under a quarter of German retailers have implemented its strategies developed for it. 21 per cent haven’t planned any approach. Additionally, many online retailers don’t think they have enough info about this. Not a good thing when time is running out and further questions will arise. That’s why we’re trying to bring light in the darkness.
From search to inspiration to final purchase, mobile users interact with multiple touchpoints along the entire customer journey. Consumers currently have less time and more and more options to choose from. The goal for companies is to reach customers at the right time with the best offer.
It’s also reflected in the way that advertising looks today, where and how it works. It’s in tempting and highly consumable formats, it’s a staple of customer engagement, winning through mobile, seamless experiences on and between every channel. Not to mention their functionality as a success.
Two weeks ago, Google presented its new advertising formats at the annual Marketing Live Conference. A clear trend emerged. In addition to AI, visuals are becoming more and more important in the world of online advertising. Which formats are specifically involved? We’ve put together the most important innovations for you.
In 2013 Angela Merkel, Chancellor of Germany said that the Internet was »new territory for all of us«. After that, concepts emerged that should’ve advanced digitisation in Germany. In 2016, this request from the Federal Chancellor followed: »I believe that the ability to code is becoming one of the basic skills for young people, alongside reading, writing, and arithmetic.«
But not much has changed for German students. But is it even necessary to put coding on a par with reading, writing, and arithmetic? Or will this »new« skill soon no longer as necessary as many currently believe?
Being able to buy a product any time, anywhere is a reality in many countries today. This is ensured by constant technological progress and improving infrastructure. 71 per cent of European online shoppers are now shopping across borders. But there are still regions where cross-border e-commerce is a huge challenge.
Africa is a good example. Although the region is still struggling with many obstacles, it holds great potential for online retail. We all know: »First come, first serve.« So does DHL and it’s recognised such potential and taken on this niche market early on.
In recent years, a number of so-called direct-to-consumer startups have emerged that want to rethink and improve customer relations. They focus on four milestones that are particularly relevant for smart consumers: Community, trust, experimentation, and independence. The latter refers to the courage to renounce all sorts of intermediaries.
In addition, such direct-to-consumer brands draw on the advantages of the digital market and its ongoing dynamism. Another brand that has joined this coveted group is the natural cosmetics brand LUSH.
But what’s behind this refurbished direct-to-consumer (D2C) approach and why is it trendy?
The following isn’t a secret: Users are spending more and more time online and increasingly consuming more video content. There’s a lot to choose from. From elaborately produced series on video streaming services such as Netflix to everyday videos from private individuals. You can find clips on video platforms like YouTube, Facebook, and Instagram in different formats
Videos are equally self-explanatory, entertaining, and informative. Pictures can paint a thousand words, and with video, the amount of words is exponentially more. No wonder that videos are the alpha and omega in social media and content marketing and that video platforms are constantly developing more features for them.
New platforms such as TikTok are also being created to better meet the needs of a certain group of users. Teens are excited. But do you know what this is about and how you can use this video-based app for yourself? We’ve got answers!
Nowadays anyone can connect to anything and everyone through the Internet and exchange with different technology. Technological efficiency is often the key to success in these connections between people, but also between people and product or people and services.
82 per cent of marketers believe that they know how their clients want to interact with their business. The problem: Almost a quarter of all clients disagree with this statement.
In times when purchasing and sourcing have become commonplace across all touchpoints, it poses a major challenge for brands to provide their customers with meaningful information across all channels along the entire customer journey as well beyond to accompany. The tricky thing to remember: Customer engagement. But how can we create the most consistent, contextual and relevant customer experiences possible?
This is precisely where digital experience platforms come into play. Success stories such as Facebook, Spotify, or Zalando show that digital platforms are a meeting place between all stakeholders (customers, partners, employees) to generate exponential growth and high value.
Digitisation is changing even most mundane things, like paying for things. Cash is almost a relic, while digital payments are multiplying and spreading. At the top is PayPal. Ever since the launch of Google Pay and Apple Pay in Germany, the enthusiasm for mobile payments is continuing to increase as the smartphone becomes the wallet of the future.
There’s no doubt that the way we’re paying for things is changing. Retailers have to act on this, especially if the complexity increases and the requirements as well. What should retailers, manufacturers, and brands in the DACH region pay attention to in order to best meet customer requirements and what does the future look like for payments?