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RECENT TRENDS IN E-COMMERCE AND DIGITAL MARKETING-RETAIL SECTOR

  • NAYOMI AMARIA (A005)
  • DAKSH BADAYA(A006)
  • SIMONA BANSAL(A007)
  • VIPASHA BAVISHI(A008)

LIST OF CONTENT :

INDEX

  • INTRODUCTION
  • CONTENT MARKETING
  • BUYER EXPERIENCE
  • CONVERSION RATE
  • THE AMAZON EFFECT
  • QR CODES
  • AUGMENTED REALITY
  • DIFFERENCE BETWEEN AR,VR AND MR
  • DRONE DELIVERY
  • DYNAMIC PRICING
  • CONCLUSION

INTRODUCTION

-NAYOMI AMARIA 005

  • Technology is changing the way industries are carrying out business activities

  • The transition to e-commerce industries and online retail spaces

  • Emergence of trends in the manner in which the retail sector works

INTRODUCTION

CONTENT MARKETING

-NAYOMI AMARIA 005

Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action.

Regardless of what type of marketing tactics you use, content marketing should be part of your process, not something separate.

CONTENT MARKETING

CONTENT MARKETING IN RETAIL SECTOR

People love brands that speak to them, and they’ll happily talk up a company that makes them happy.

Ways for engaging with customers-

1. Focus On Mobile

2. Social Presence

3. Be transparent

Source: Zomato FB & Instagram pages

Source: Swiggy Instagram page

Source: OREO Instagram page, Social Samosa

Source: https://www.digitalvidya.com/blog/content-marketing-examples/

Source: Official Company Instagram pages

Source: Big Bazaar Instagram page

BUYER EXPERIENCE

-NAYOMI AMARIA 005

BUYER EXPERIENCE

Source: www.shiprocket.in

Source: www.shiprocket.in

KEY BENEFITS

  • Enhanced Support for Buyers
  • Improved Buyer Perception
  • Boost in Conversions

BENEFITS

FLIPKART CUSTOMER EXPERIENCE

FLIPKART

Daksh Badaya 006

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CONVERSION RATE

Conversion rate is defined as the percentage of visitors that land on your website who complete a desired action.

Even if you are doing everything right, you can still expect to win the sale around 2% of the time.

Good Conversion rate?

as per Adobe Digital index 2020 report

Baseline Goal= >2%

This act is called a conversion, and it’s just about the most important metric you’ll need to watch as you plan on building your business and increasing revenue.

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Global Index

as per Adobe Digital index 2020 report

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World Comparison

The main question is what is the best way to increase your conversion rate?

Variables

  • Website Navigation(UX)

  • Product Quality

  • Return policy

  • Shipping

  • Pricing

  • Easy Checkout

Daksh Badaya 006

AMAZON EFFECT

For better or worse, the U.S. economy and the global economy are in the throes of the “Amazon Effect,” a term used to describe Amazon.com’s success, which has upended retail practice and customer expectations, both online and off.

AWS

AWS launched in 2006 from the internal infrastructure that Amazon.com built to handle its online retail operations. AWS was one of the first companies to introduce a pay-as-you-go cloud computing model that scales to provide users with compute, storage or throughput as needed.

  • Amazon owns 41 subsidiaries and brands.
  • Things you can't buy on amazon.
  • since 2014 the sales/revenue for the company increased by minimum 30 billion USD per year.
  • The Q1 2020 showed a revenue of 75 billion USD.
  • 2-3% loss in offline market.
  • An average customer spends $700 on Amazon each year.

The Amazon Facts

QR CODES

QR CODES

“Quick Response code” codes are 2D images made up of either lines, dots or other formats that can be read by smartphones and other devices.

You can scan them with your screen and be linked directly to a website, provided with particular information, linked to a phone number or text and various other functions.

So for instance, you could put one on a clothes tag and it will link you to a video which shows a group of people modelling that outfit.

According to a recent study by comScore , users who scan QR codes are more likely to be young, male, and wealthy. If that's your target demographic, QR code utilization could be a very useful tool.

EXAMPLES

AUGMENTED REALITY - Simona Bansal A-007

Augmented reality refers to any technology that ‘augments’ the user’s visual (and in some case auditory) perception of their environment

ADVANTAGES OF AR

AUGMENTED

REALITY

  • Try before you buy
  • New level of interaction with customers
  • Creates memorable customer experiences
  • Fantastic for brand awareness
  • Easy to demonstrate a product’s worth

IKEA

The retailer is using augmented reality to let customers preview how furniture looks on their smartphones before they buy.

-In Ikea Place customers can view 3-D renderings from different angles of over 2,000 products before reserving the ones they want in the app, which directs to the Ikea site to complete purchases.

IKEA

SEPHORA

SEPHORA

-The makeup retailer introduced a “Sephora Virtual Artist” .

- It scans your face, figures out where your lips and eyes are, and lets you try on different looks.

-If you like the look, well, you can buy it.

-The app also offers “virtual tutorials”

-When a specific item is selected, a bar across the top will display the product information To purchase users can click on the tab to be brought to its product page.

SEPHORA

Difference between AR, VR and MR

-Vipasha Bavishi 008

DIFFERENCE BETWEEN AR,VR AND MR

Some top companies in India providing AR, VR, MR services:

1.Queppelin - Gurugram.

Former clients: Facebook, Snapdeal, Times of India, Nokia.

2.Yudiz Solutions PVT. LTD- Ahmedabad.

Former clients- Nestle, Money Control.

3.Mutual Mobile- Hyderabad.

Former clients- Google, Disney, Nike.

4.Steamroll east- Chennai.

Former clients- Deloitte, Disney, BMW, Audi, P&G.

DRONE DELIVERY

-VIPASHA BAVISHI 008

DRONE DELIVERY

Delivery drones or unmanned aerial vehicle are pilotless aircraft carrying packages to a designated area. The delivery drones are autonomous or remotely controlled through a ground controlled station. Drone operators can monitor multiple flying bots at once keeping track of every package delivered.

Drone delivery software-

A drone delivery software lets drone operators deploy and manage a fleet of drones in real-time, access and control with cloud connectivity with 4G/LTE networks to gain real-time flight data and control from a remote location.

ADVANTAGES OF DRONE DELIVERY-

  • Reduced road congestion.

  • Reduced environmental pollution.

  • Reduced delivery time.

  • Reduced transportation cost.

CHALLENGES OF DRONE DELIVERY-

  • Insurance & Costs.

  • Theft

  • Weather

AMAZON DRONE DELIVERY

Dynamic Pricing

-Vipasha Bavishi 008

Dynamic Pricing is the multiple price changes in a product at different times of the day.

These price changes can be based on consumer behavior on the website, browsing patterns, etc.

DYNAMIC PRICING

Dynamic pricing can prove to be beneficial for the users also. If a number of e-retailers offer a standardised product, then price becomes the differentiating factor. An example of Samsung Galaxy S5 can be considered here:

How McKinsey & Co. helps ecommerce retailers in various continents like Asia, America and Europe.

CONCLUSION

CONCLUSION

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