Despite today’s challenging business landscape, the constant change in consumer shopping behaviour offers a timely opportunity for businesses to engage their customers with new and exciting shopping experiences.
Here’s how...
The rapid recent uptake of digital solutions by consumers underpins the incredible opportunity marketers are presented with.
“We’ve moved beyond omnichannel marketing,” explains Kate Box, Director of Retail at Meta. “The online world is now a joyful place where businesses can drive demand, as shoppers discover and connect with brands they never knew existed.”
Kate Box, Director, Global Business Group, Retail ANZ
Kate Box, Director, Global Business Group, Retail ANZ
This sense of joy and discovery is central to the new era of shopping. Every single transaction is now an opportunity for consumers to be entertained, and for brands to deliver personalised and immersive experiences.
With 56% of surveyed Aussies saying their mobile device is quickly becoming their most important shopping tool, the future is undeniably digital-first.
But before we dive in further, it’s crucial to understand the key trends that will power shopping in the years ahead.
Hybrid shopping is here to stay
The past few years have seen in-store and online shopping intersect like never before. Purchasing items is something consumers do wherever and whenever they want. People are now in an ‘always shopping’ mode - and it’s up to brands to spark their curiosity.
We know it works for those who do it well. A massive 89% of Australian shoppers have made at least one purchase in-store after finding or discovering an item on social media.
This presents a huge opportunity for businesses to trigger discovery on social media before leading customers in-store to purchase.
Kate Blythe, Chief Marketing Officer at beauty retailer MECCA Brands, explains that making these transitions seamless is essential if you want to be successful.
“For MECCA, we want our customers to be able to engage with us anytime, anywhere. Every single touchpoint has to be as good as the next.”
This is a crucial point - every interaction can be a step toward winning a loyal customer. But conversely, failing to make experiences fluid risks losing customers.
Creating a frictionless experience, whether via apps, online or in-store, not only matches how customers now prefer to shop today - it’s a powerful point of difference.
The perfect discovery
Sophisticated marketers today recognise that the opportunity to connect with customers starts well before intent, and are embracing powerful technology to anticipate it. Meta calls this Discovery Commerce. And it’s significant because it doesn’t just anticipate consumers’ wants, but creates it.
People have always and will continue to seek inspiration, engagement and connection in their shopping experiences. These timeless human truths are the reason Meta has created a powerful and relevant discovery engine.
This technology can transform so-called 'online' shopping from a rationally driven search experience to a full-scale emotional experience, full of serendipitous discoveries of products aligned to a consumer's interests.
And when customers feel understood and recognised, the relationship between brand and consumer only gets stronger.
Concepts like Discovery Commerce are also transforming the very nature of retail business. A recent Accenture study has revealed the global social commerce industry is expected to grow three times as fast as traditional e-commerce by 2025, with Forbes predicting it to be a $1.2 trillion opportunity.
Frankie Layton, founder of sustainable household business The Dirt Company, believes discovery commerce is a highly valuable strategy for brands.
“The closer you can bring your brand to things people are feeling in life, the more successful campaigns will be on social media. It’s a culmination of a thousand of those moments that lead people to know you as a brand.”
- Frankie Layton, founder of The Dirt Company
It’s increasingly clear that social media can step up to generate demand while search engines continue to merely capture it.
We’re already seeing evidence of this, with 73% of online shoppers saying they discover new brands or products on Meta platforms. So not only can these platforms help products to find the perfect recipients, they can also help brands find customers they didn’t know they had.
The next evolution in shopping isn’t just a great opportunity for consumers, it’s also a great opportunity for brands. It allows retailers to better connect with audiences already inhabiting social media platforms, developing more powerful connections with those most likely to purchase.
Brands need to meet their shoppers where they are, wherever it is convenient to them. By doing so, they can tap into vast cohorts of potential customers, driving new growth.
Get the drop on your competitors with machine learning
In a time where it seems like every new movie is either a sequel or reboot, the delight of the unexpected is stronger than ever.
Surprising your customers is an ideal way to hold their interest over the long term - especially when you’re offering a product that can effortlessly fit into their life.
Sophisticated artificial intelligence is now making this goal achievable for businesses of all sizes. In Australia, 54% of surveyed online shoppers purchase products because they come across them unexpectedly while browsing. This is machine learning at work.
First-party data is particularly powerful in this instance, as it’s gathered from direct consumer interactions with businesses. That means it’s purpose-built for understanding the exact products your audience desires, and can help marketers create personalised ad experiences for customers.
“First-party data is so much more than retention. The depth of the data businesses can capture is the perfect fuel to not only grow existing customers, but find new high value consumers through personalised ads. Its application spreads wider than just targeting, with leading performance companies using it throughout their marketing, from acquisition to incremental measurement techniques.”
Andy Ford, Head of Marketing Science (Australia and New Zealand), Meta
Andy Ford, Head of Marketing Science (Australia and New Zealand), Meta
A strong marketing automation tool, like Meta’s Conversions API, for example, can help develop curated ad experiences for customers, taking the guesswork out of personalisation.
“A lot of people love engaging with, and learning from, content that’s provided by creators. They’re great at generating real trust, and already have a big following.”
Why creators can be a marketer’s best friend
It’s this trust that makes creators such a valuable asset to brands breaking ground in the retail space. There are a massive number of customers who place immense faith in creators, with 55% of Aussie consumers surveyed saying they trust what a creator says about a brand more than what the brand says about itself.
There’s a duality to this - creators can be both new marketing channels and brand ambassadors for a business. This unique mix is often translated into sales, with three in five Australians surveyed saying they would consider switching brands when a product is promoted by a creator they follow.
There are many examples of creators who have built robust communities and developed successful enterprises, such as Rowi Singh, Natalie Angel and Miss Gunner. They know their audience, and their audience knows them - making these relationships fertile playgrounds for product discovery.
Shopping has changed - for the better
The future of shopping is connected and personalised, a place where customers can be delighted and entertained with immersive experiences.
Tapping into the immense power of social audiences and machine learning is essential for businesses that are seeking to drive real business growth.
So while an uncertain economy might be giving shoppers pause for thought presently, there are plenty of ways for retailers to give themselves a leg up - and give their customers some joyful experiences along the way too.
Watch Meta’s latest video on the Future of Shopping and learn how Meta can help grow your business with Discovery Commerce to supercharge discovery and stay at the forefront of commerce.
Shopping has changed - for the better
The future of shopping is connected and personalised, a place where customers can be delighted and entertained with immersive experiences.
Tapping into the immense power of social audiences and machine learning is essential for businesses that are seeking to drive real business growth.
So while an uncertain economy might be giving shoppers pause for thought presently, there are plenty of ways for retailers to give themselves a leg up - and give their customers some joyful experiences along the way too.
Watch Meta’s latest video on the Future of Shopping and learn how Meta can help grow your business with Discovery Commerce to supercharge discovery and stay at the forefront of commerce.
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