Cloudflare whitepaper ecommerce mobile

| June 8, 2017

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Mobile is at the tipping point to become the most important channel of e-commerce strategies. The top 25% of 8.S. retailers have already ȴgured out how to drive up mobile conversion rates to taNe an overproportional share of the addressable marNet  in a race where the winners taNe it all. 7hey manage to better retain users and attract product views by providing mobile sites and apps which are fast and available. Cloudfare can help to achieve those critical reTuirements by providing.

Spotlight

Jetblack

Jetblack is a members-only, text-based personal shopping and concierge service that combines the convenience of e-commerce with the customized attention of a personal assistant. With the ultimate goal of creating the next step change in retail through conversational commerce, Jetblack promises members the fastest, most delightful end-to-end shopping experience possible. As the first stand-alone company incubated by Walmart's Store No. 8, Jetblack is on a mission to give time back and make life more enjoyable.

OTHER ARTICLES

TD Bank retail leader talks payment innovation, POS transformation

Article | February 13, 2020

One of the most transformative customer experiences is happening at the point of sale retail consumers are tapping and swiping more than ever compared to handing over cold hard cash. A driving force is the innovation taking place in retail payment as the cashierless storefront slowly takes root and young shoppers don't want to be bothered with even the credit card transaction time. Retail Customer Experience reached out to Mike Rittler, general manager of retail card services and personal lending at TD Bank, to get his perspective on retail POS, trends, consumer expectations and the retail purchase experience.

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Are you thinking about retail customer experience all wrong?

Article | March 5, 2020

It's not hyperbole to say that modern retail lives and dies by one overwhelmingly powerful metric: the customer experience. But knowing how to actually provide it, to a given retailer's unique collection of customers, is what has escaped so many of the retailers we once thought were too big to fail. As the industry becomes more conceptually innovative and tech-driven, there isn't a single obvious path that guarantees the ability to deliver on that promise. Customer demands pop up too quickly, and retailers are running out of fingers to plug the dike. It's time to find a more sustainable approach.

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Retail store space can have myriad uses

Article | March 22, 2020

Brick-and-mortar retailers have embodied this concept since the inception of physical stores. The saying is taking on a different meaning for retailers seeking to reimagine the concept of physical stores. No-inventory stores, like Bonobos, are exchanging storefronts filled with large amounts of costly inventory for showrooms stocked with personal stylists, cafés or office space. The concept of the store as a showroom benefits retailers, their customers and their workers. The combination of decreased square footage, lower rents and freed-up cash typically tied up in massive inventories creates new opportunities for all to enjoy. Consolidating most inventory in a few central locations, rather than scattering it across all stores, will increase margin and inventory turns significantly.

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We Have No Idea What We’re Doing

Article | December 15, 2020

Prior to the pandemic and quarantine, less than 8% of commerce was online. As of Q3FY20 eCommerce grew north of 14% of all commerce. So while the Retailpocalypse was in its last phase, physical retail still outsold eCommerce by at least 7:1. The failure rate of crowdfunding campaigns is 85%. The failure rate of eCommerce store owners ranges from 80 to 97%. What if there were a way to bridge the gap between these three failure rates? What if we could bridge what people consume online with what they purchase offline before waiting for brain-computer interfaces (BCI)? In short what if we could bridge social and commerce? (Example use case.) Mostly missing are the memorable, meaningful, measurable and monetizable responses from people interested in stories about beagles, princesses and pitbulls, pets, car repair, raspberry blueberry vinaigrette gyros, budget-saving techniques for holiday travel, getting stuck at airports in blizzards, rental cars and Cup o’ Noodles, My Fair Lady and @Instacart, dining out at the delicious Banana Leaves café, cooking kosher halal gelatin-free, blue #1 artificial dye-free egg nog flavored marshmallows, 50th anniversaries and chocolate ganache, adventures camping with youth groups, birdhouses built by kids, rainbow hair dye, artificial dye-free cakes DIY for your child’s birthday party, and Halloween gingerbread houses and Greek Mount Olympus costumes. Other than ad revenue Youtube collects which most of it’s video posters see little of, monetizing the DIY craze has proven quite tricky. Ditto for Christmas shopping, smartphone accessories, buying a new luxury Subaru online with no salesman, how to get hard to find contact lenses and vitamins for kids, how Amazon often has thrift store prices on inventory thrift stores rarely carry, the challenges of buying clothes on Amazon that don’t fit but you don’t realize that until the clothes arrive, DIY car repair, funny car repair, glorious victory of car repair, diaper cakes and muscle aches, drones and honey scones, Triple A baseball and blue-tailed skinks, favorite foods, fasting, and Boston, fused vertebrae and buried treasure, where to buy school supplies when most stores are sold out, creameries and charcuterie, Bridging social media with eCommerce has been the white rhino of many investors and start-ups for many years. Instead of working toward such solutions, we have VC’s and stockholders asking about vanity metrics: - How many people looked at your website? Instead of: How many people subscribed or how many purchased an item?- - How many downloads per month does your app have? Instead of: How many of the people who downloaded your app have note removed it less than 30 days later? - What’s your ad revenue? Instead of: How can your product capture or create more value? In reply entrepreneurs answer these questions, they often present their increased spend on marketing followed up with vanity milestones: “We’re using Google Analytics and similar providers to track every movement of the supply chain, to ensure when the purchaser’s journey is completed, there’s no delay in delivery. This will lead to more frequent purchases ideally of higher priced products, and… We are pitching to Chipotle on Friday!” This leads to concentrated research on Chipotle’s SWAT, followed up with an excellent pitch including a demo via Zoom. The result of this pitch is usually: 1. The person loved the pitch and accepts your invitation to meet again with his/her manager next week. 2. The person you pitched to is not the decision-maker 3. The person you pitched to doesn’t quite understand what you’re pitching 4. The person you pitched to had 3 other projects due by COB and wasn’t fully present and listening to your 10-minute pitch 5. You provided too many facts too quickly, trying to build rapport 6. You shared how you’re product can reduce shrink, increase ROI, decrease costs, increase retention, and cure cancer. The person you pitched to doesn’t believe all those promises. 7. The person you pitched to is afraid of advocating change; the risk from change that results in lesser results can lead to negative repercussions. The risk of “business as usual” is minimal. Forgotten by almost all eCommerce platforms and store owners are the facts that: - People behave differently when they are observed (best behavior vs. average behavior). Despite this, we are seeing an incredible number of start-ups that offer to help track everything your customers do. “We’re Palantir for eCommerce” is essentially the ethos of these companies. - The Paradox of Choice by Barry Schwarz – too many choices overwhelm the person making the choice, to the point that no decision is made. If you don’t train your mind to buy what you want even if you have to look on pages other than Amazon and Google Shopping, you might end up buying the product you almost wanted. - The concept of incentivized virality – when PayPal gave $20 to each person who referred another person who joined, and when DropBox offered free data storage to people who referred friends who joined – which Reid Hoffman and Chris Yeh brilliantly detailed in Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies. So now each eCommerce platform tries to copy Amazon who built their model on the opposite of physical retail. Consider your last experience renting a car at an airport vs. Amazon: - Do you want to refill the gas tank or would you like us to? - Would you like liability only or more comprehensive types of insurance coverage? - Would you like a GPS? - Would you like to join our exclusive members club? etc., etc. Adding to what @ElevateDemand said, “ B2B marketing is broken,” Raj De Datta, CEO and cofounder of @Bloomreach said, “The future of B2C marketing looks like B2B marketing,” Kevin Marasco, CMO of @Zenefits correctly said “marketing is going back in time from B2B to B2C” or person to person. Smart speakers in every phone, tablet, laptop PC, TV, and car succeeded by BCI, which @Facebook and @Neuralink are pioneering, hold great potential. Until those products arrive or after their R&D phase, @Homemaide’s object recognition and image recognition models can provide the sorely needed bridge between Social and Commerce.

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Spotlight

Jetblack

Jetblack is a members-only, text-based personal shopping and concierge service that combines the convenience of e-commerce with the customized attention of a personal assistant. With the ultimate goal of creating the next step change in retail through conversational commerce, Jetblack promises members the fastest, most delightful end-to-end shopping experience possible. As the first stand-alone company incubated by Walmart's Store No. 8, Jetblack is on a mission to give time back and make life more enjoyable.

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