Confusing Commerce Consumers
As consumers change the way they are shopping and have limitless access to products worldwide, how are retailers and businesses supposed to make their products and services stand out from the rest? The internet offers a variety of ways to purchase the same or similar product via the internet with transparent pricing, whilst also offering an abundant amount of avenues for consumers to undertake extensive research about the particular product by way of blogs, chat forums and social media sites. Gone are the days of popping down to your local high street to ask the advice of a sales assistant, or doing some window shopping, by using the internet shoppers can get an infinite number of opinions in a matter of minutes. With the internet also being easily accessible from free Wi-Fi in public areas, as well as the latest developments of the Smartphone and tablet, it is easy for shoppers to make eCommerce purchases quickly and efficiently.
With the diversity of payment options that consumers have to purchase, businesses are increasingly forced into devising strategies which encompass multi-channel platforms to sell their products to fulfil their customers’ needs. Statistics show that over £581 million is being spent through Smartphone applications per year, with retailers such as Zara offering mobile optimised apps, they are quickly embracing the changing buyer behaviour trend and are using it to their full advantage. Retailers are also increasingly embracing Social Networking sites to market their products. Using targeted advertising, combined with direct purchasing social media is set to be the key platform for eCommerce purchasing over the next few years.
How retailers respond to the growing network of connectivity and digital product monetisation to differentiate themselves draws back to the consumers themselves. With consumers voicing their opinions virally, and the simplicity of opinions sharing online, businesses must ensure they respond to the needs and reservations of the consumer in their product offering. Monitoring positive and negative testaments online, embracing multi-channel payment technology, targeting advertising to the consumer’s behaviour and demographic and responding in kind with dynamic product development makes the internet and social media in particular a ripe environment for exploitation.
MPP Global offer multi-channel payment gateways which offer content owners the ability to monetise multi-channel digital content.