The E-Commerce Dispersion
First, there was the e-commerce trend. That was when progressive businesses were able to add a revenue stream that would make it easier for their digital-savvy customers to shop.
Next, we had the e-commerce imperative. As of roughly 2015, any business that didn't have online checkout was going to get left behind.
Today, we have the e-commerce dispersion. Transactions are happening where people are, when they're ready to convert. We no longer have a neat and tidy funnel where we can drive all of our traffic through a series of ads and landing pages. Instead, technology has progressed to the point that we can serve people at a variety of different places, in a variety of ways. Here are just a few specific examples:
SOCIAL COMMERCE
TikTok, Facebook, Snapchat, Pinterest, and Twitch have each added features that allow people to checkout without ever leaving their apps. According to this article by The Drum, 23% of shoppers in the UK have now used social media to make a purchase.
One recent example of how social is becoming increasingly integrated with e-commerce is Facebook's Stickers & Stars, which are going to allow people to transact and support their favourite creators in Stories.
SHOPPABLE LIVESTREAMS
Once upon a time, brand and product launches were restricted to invite-only parties filled with media and industry-insiders, allowing the public only glimpses into what was to come next season, or during the upcoming campaign, through carefully placed articles and press releases.
Today, brand and product events are happening online, and the products are available for immediate online purchase. Take, for example, Wal-Mart's partnership with TikTok where they host beauty influencers who demo the season's hottest products, which users can place into a shopping cart without even interrupting the stream.
YouTube has been introducing similar features.
SHOPIFY'S SHOP APP
This one might be my personal favourite. On the surface it seems simple: Shopify created an app that allows its users to easily checkout from any of its retailers; However, the implications go far beyond the shopping cart. Having any Shopify retailer available for checkout in an app means that a purchase can happen anywhere. Retailers can partner with creators or publishers to embed links that initiate a one-click checkout process, and brands can embed buy-now opportunities on social content.
The Shop App on its own is a fantastic marketplace, but its implications for off-site commerce is potentially a lot more impactful.
Written by Conner Galway, Junction Consulting