TRD Issue 18 - Insight: The Action Guide to Success, 91APP's 2023 Brand Commerce Trend Report
Hello subscribers! Welcome to the latest edition of The Retail Direct, where we delve into the intricacies of "The Action Guide to Success," featured prominently in 91APP's comprehensive 2023 Brand Commerce Trend Report.?
This issue seeks to empower brands to navigate the dynamic e-commerce landscape effectively, providing insightful strategies for achieving holistic online-offline integration (OMO).?
We explore the key factors contributing to a D2C business's success and highlight the importance of creating a specialized e-commerce team. We also examine the various aspects of Brand Commerce and stress the advantages of enlisting the help of experienced outside consultants to drive growth.?
Kickstart your journey by understanding the strategic measures delineated in this issue. Enjoy the read, and don’t forget to download the full report!
About 91APP
Founded in 2013, 91APP is the premier OMO (online-merge-offline) SaaS company, providing one-stop omnichannel retail solutions in Taiwan, Hong Kong, and Malaysia. It offers advanced Commerce Solution and Marketing Solution that enable retail brands to penetrate the D2C (Direct-to-Consumer) eCommerce market and drive their operational benefits to their full potential. In 2021, 91APP became the first SaaS company to be listed in Taiwan and has been named one of Taiwan's "NEXT BIG" companies by Startup Island TAIWAN.
For more information about 91APP (TWO: 6741), visit www.91app.com.
Action One: Satisfying Consumer, Stores, and Merchandise - The Triple Win of OMO
In this era of rapidly evolving technology and increasingly complex shopping journeys, the retail industry is poised on the edge of innovation. When shopping behaviors have already embraced Online Merges Offline (OMO), brands must cater to the trinity of consumers, store staff, and the brand itself. Since OMO is the best practice for Direct-to-Consumer (D2C), a seamless OMO experience necessitates frictionless flow in the dimensions of consumers, stores, and merchandise.
Consumers
Consumers should enjoy homogenous service across the brand's online and offline channels, maintaining a single identity. This includes flexibility in their choice of purchase channel. For example, they may purchase online and collect or return at a physical store or touch and try-on products in-store and buy online.
Stores
The digital transformation process enhances physical stores' capabilities, allowing their employees to cater to customers who use multiple channels for shopping. By utilizing a combination of data, tools, and personal interactions, store staff can improve the value of e-commerce and increase the influence of physical channels within an OMO ecosystem.
Merchandise
By implementing efficient inventory management, the central warehouse can eliminate isolated channels and enhance its merchandise management, improving efficiency and reducing costs.
Full OMO
Successfully merging online and offline channels for consumers, stores, and merchandise resulted in a mutually beneficial situation for all parties involved.
In an age where information complexity is the norm, experiential elements, and data security are essential tests of consumer trust in a brand. Therefore, when laying out a proprietary e-commerce platform, the following are key considerations:
Action Two: Establish an Expandable Commerce System to Facilitate the Resources for Brand Enhancements
When building a D2C e-commerce site, brands may find that their tech infrastructure needs to improve as consumer behavior evolves and technology advances. To take advantage of emerging business prospects without causing separation among different systems, companies should opt for retail core technologies that are scalable and enable integration with Headless Commerce, and its value includes:
With the consumer as its core and utilizing APIs, it fulfills five crucial aspects of retail: product, transaction, membership, data, and traffic. It can adapt to various business and sales channel applications and partner with other technology solutions. This enables seamless integration and empowers growth opportunities, allowing brands to innovate and move forward continuously.
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Action Three: Integrate Business Data, Develop Marketing Strategies, and Identify Potential Opportunities
To successfully implement D2C, brands should prioritize integrating first-party data from all channels using OMO as the best solution. If brands continue to manage and apply each system independently, it can result in rework, experience discrepancies, and analytical errors. By achieving data and system integration across all channels, brands can focus on consumers and establish an omnichannel strategy that includes sales channels, marketing, products, inventory, and customer relationships.
To better understand their current customer profiles, brands can leverage the valuable insights provided by first-party data. This data can be used to develop effective Customer Relationship Management (CRM) strategies. To drive website traffic while maintaining quality, brands can combine first-party data with third-party data to plan their media placements. By adopting this data-driven approach, brands can make informed decisions based on accurate information rather than relying on personal biases and assumptions.
Action Four: Establishing a Dedicated E-commerce Team and Seeking Expert Consultation
As brands and retailers run e-commerce businesses, they often need more human resources to build a team. The difficulty in finding and nurturing talent makes the task even more daunting, as the range of skills required for brand e-commerce can be extensive. This often leads to discouragement before initiatives can even take off.
To build and maintain successful brand e-commerce, it is essential to have the cooperation of several functions that work together independently yet in a connected manner. A team committed to this task can adapt quickly to changes and frequently check the project's progress. The ideal e-commerce team should comprise the following specialized roles:
System Integration: streamline and unite various brand systems towards operational development objectives, resulting in improved efficiency and a more comprehensive approach.
E-commerce Operations: to effectively sell a product, it's essential to know the market and the preferences of your target audience. This involves developing compelling product descriptions, creating visually appealing designs, and managing inventory and promotions.
Performance Growth: create promotional activities, devise CRM plans, and plan future product strategies based on member identity, browsing history, and consumer behavior. Data analysis forms the foundation for these strategies.
Media Marketing: to create advertising budgets, select appropriate media platforms, and optimize execution to align with the brand's annual business objectives, product schedule, and features.
Under the D2C Wave, the Continued Growth of Brands Will Be Based on the Cycle of Commerce X Marketing
The timeless equation of the retail industry:
Physical Stores
Number of Visitors x Conversion Rate x Average Order Value = Sales
E-commerce
Traffic x Conversion Rate x Average Order Value = Sales
Sales success requires effective marketing strategies, exceptional service, streamlined processes, and desirable product features. Integrating Commerce X Marketing approaches establishes a successful growth cycle—product competitiveness and CRM cultivation impact average order value. Brick-and-mortar stores rely on staff experience, but e-commerce needs data insights to cater to customer preferences. D2C with OMO leverages online and offline resources for synergy, and it's a key component of the brand value of 91APP.
To delve deeper into the strategies and insights transforming the commerce landscape, take advantage of our comprehensive 2023 Brand Commerce Trend Report. Download the full version today and equip yourself with the essential action guide to help your brand navigate the fast-evolving e-commerce sector.?