AR Impacts Local Commerce, Disrupting Home Services and Retail
AR is emerging at a time when the physical retail world is undergoing significant transformation. Things like Amazon Go stores and the counteractive “retail as a service” movement have raised awareness and hunger for retail evolution. So AR’s retail shopping use cases fall on fertile soil.
But retail is just one way that AR intersects with local commerce. AR comes into play in another key local commerce category: home services. Innovators like Streem are bringing remote assistance to traditional service calls (think: busted pipe).
Letter From the Editor: How Will 2019 Be Remembered?
Perhaps the topic we’ll remember most from this year is the rising attention to and hand wringing over privacy. In the media and advertising worlds, especially subsectors that pertain to location data, executives and consumers are feeling the broader privacy discussion acutely. We just passed the one-year mark for GDPR.
Omnichannel or Multichannel? Which One And Why
Omnichannel creates a smarter shopping experience that benefits both consumers and brands. Data is shared across all channels, enabling stronger engagement and moving the consumer toward a purchase. For the customer, it creates an easier shopping experience and a stronger brand connection.
Consumer Dollars Are Up for Grabs—If Retailers Can Master the Basics
To maintain the business of today’s consumers, consistency is key. Just under 70% of respondents said they’re less likely to return to a store after just one subpar experience. As for what earns a shopper’s approval, only 19% of consumers said they seek out food or entertainment from stores. More important are fundamental technical capabilities like mobile app integration and access to WiFi. Two thirds of shoppers even said retailers are too focused on experimental tech and should pay more attention to the building blocks of good retail strategy.
Visual Search and Local: A Match Made in Mountain View
Though visual search challengers such as Snapchat and Pinterest could shine in niche use cases such as fashion items, Google will rule as the best all-around utility for visual search. It has the deepest tech stack, and the substance (knowledge graph) to be useful beyond just a flashy novelty for identifying things visually.
The name of the game now is to get users to adopt it. Google Lens won’t be a silver bullet and will shine in a few areas where Google is directing users, such as pets and flowers. But it will really shine in product search, which happens to be where monetization will eventually come into the picture.
San Francisco Partially Bans Facial Recognition, Putting Technology’s Future in Doubt
Civil rights and privacy activists asked, and the San Francisco Board of Supervisors delivered.
The city banned the use of facial recognition technology by law enforcement and other municipal agencies on Tuesday, becoming the first in the country to do so. Other bills in the works in Massachusetts and even on Capitol Hill suggest that additional restrictions on the technology may be forthcoming.
Retailers Use Visual Channels to Attract Last-Minute Mother’s Day Shoppers
Spending on Mother’s Day is expected to reach $25 billion this year, with consumers flocking to department stores and florists in search of the perfect gifts for Mom. The bulk of that spending will happen in the next few days, as foot traffic data from the location platform GroundTruth reveals that Americans tend to wait until the very last minute to shop for Mother’s Day gifts.
What are retailers around the country doing to prepare for the onslaught of last-minute shoppers? More than ever before, retailers are leaning on visual marketing opportunities to drive last-minute sales.
Letter From the Editor: Retail Transformation Rules
As we continue to evolve the definition of “local,” one key component of its market opportunity is offline brick-and-mortar shopping. After all, about 90% of all U.S. retail spending, to the tune of about $3.7 trillion, is completed offline in physical stores. And that’s usually in proximity to one’s home (thus, local).
This makes retail transformation a key focal point for Street Fight. And there’s a lot happening.
Report: Consumer Expectations for Brands Higher than Ever in Age of Convenience
With the omnichannel age upon us, the impact of bad customer experiences is unprecedented. The main fear for businesses should no longer be a standoff between the worker behind the customer service desk and the angry customer who failed to get his discount; it should be the rant that hits social and is shared or liked a slew of times, dragging digital reputations through the mud.
The Power of Micro-Location Technology
The location market has matured beyond push. The value of micro-location technology is now built on hyper-accurate analytics on where users go in the physical world, allowing advertisers to re-target them with a variety of omnichannel marketing efforts. Here are a few exciting use cases that highlight the power of hyper-accurate location-based marketing technology.
Local Marketing Methods That Will Attract Millennials
Millennials want their money to go further than it has before. They desire to pay less for both their wants and needs, are more socially conscious than ever, and need things to catch their eye quickly. So, how do we, as local marketers, appeal to them? Brands and businesses that can give millennials what they want, when they want it, and at an affordable price will win their business.
Is Google Building an “Internet of Places?”
Use cases will materialize over time, but it’s already clear that visual search can carry lots of commercial intent. Point your phone at a store or restaurant to get business details. Point your phone at a pair of shoes on the street to find out prices, reviews, and purchase info. This proximity between the searcher and the subject indicates high intent, which means higher conversions and more money for Google. Moreover, visual search has the magic combination of frequency and utility, which could make it the first scalable AR use case: making the real world clickable.
Walmart Enlists Google to Power Voice-Driven Grocery Shopping
Partnerships between retailers and tech platforms will provide increasingly important benefits for local discovery as voice becomes a more established search channel. In the age of voice-driven local search, consumers looking for products and services will become accustomed to having only one option surfaced (as Assistant is unlikely to rattle off five choices), which means being a consumer’s first option will be paramount for brick-and-mortars.
How Will 5G Unlock Location Targeting?
5G goes far beyond just a speed boost. The quantitative advantages are joined by qualitative factors that will enable all kinds of new consumer use cases and content delivery strategies. This notably includes more precise location tracking/targeting and even some indoor use cases (think: retail). 5G-enabled phones will phase in over the next three years. Then, it’s off to the races.
What Standard Cognition’s Big Play Means for Autonomous Retail
If autonomous checkout systems ever go mainstream, it will be because retailers finally figured out how to effectively harness in-store cameras to determine where customers are and what items they’re holding in real-time. Reaching that goal has proven elusive to AI technology providers thus far, but a San Francisco-based startup called Standard Cognition is hoping that its recent acquisition of Explorer.ai, a mapping and computer vision firm, will be the catalyst that’s necessary to accelerate growth and expand into new retail verticals.
Heard on the Street, Episode 19: Fusing the Best of Online and Offline Shopping, with Trevor Sumner
We’ve been hearing a lot about “retailpocolypse,” which raises the question of what 2019 has in store for retail (excuse the pun). This question threaded the many topics we batted around with Perch Interactive CEO Trevor Sumner on the latest episode of Street Fight’s Heard on the Street podcast.
Fostering Brand-Customer Relationships in the Age of Social Checkout and Chatbots
Currently, 74% of consumers visit the social media pages of brands to inspire future purchases. And as evidenced by the popularity of Instagram Checkout, sales tools like Apple Business Chat, and new ad products like Google‘s Shoppable Ads, the industry is rapidly moving towards commerce that removes the friction between inspiration and an actual purchase.
But when the path to purchase is shortened, so is the opportunity for brand and customer to interact, which is probably what attracted your customers in the first place. Especially in the world of social media, brand persona is an enduring element that differentiates your brand and creates fans out of customers.
The good news is, you don’t have to sacrifice brand voice for a social commerce strategy. In fact, with the right tools, you can enhance it.