With so many commerce trends on the move at the end of 2022, everyone at Reprise Commerce started the new year raring to see how they develop, and where better to dive back into the world of commerce than CES 2023?
CES is best known for giving us a window to the future of technology, with brands from across the globe demonstrating their latest and greatest developments.
Whilst there, Amazon Ads took the opportunity to interview Glen Conybeare, Global President of Reprise Commerce, about the evolution of commerce and the challenges facing brands today.
Here are Glen Conybeare’s key takeaways from the event:
1. If you’re standing still, you’re moving backwards
Brands that haven’t invested in their online business will likely have to make up huge amounts of ground on their competitors, because customer expectations have increased substantially in recent years. Free delivery, personalization, click-and-collect, and smart suggestions are just some of the features successful brands have incorporated into their DTC offerings.
2. Brands must think long and hard about the research phase
Sales are crucial, but in today’s world they don’t come without brands being highly visible throughout the research phase. For many people, this has diversified across platforms, including Amazon, DTC sites, review sites, YouTube videos, TikToks and more.
3. Carve out marketing budget for testing
Obsession over ROAS can seriously limit creativity, and during economic downturns, it can be easy to do away with budget assigned to exploring new concepts and ways of working. Making room in the budget – Conybeare recommends at least 10% for experimentation – can lead to the next gold mine.
4. Traffic isn’t everything
Of course, driving quality traffic to a chosen destination is a crucial mission for brands – so crucial in fact that we dedicated a whitepaper to it – but conversion is just as important.
This, argues Conybeare, is often overlooked: “A very small increase in conversion rate can turn a poor-performing campaign into a great one, so make sure your brand stores, product detail pages, etc., are truly best in class. Just adding video alone can make a huge difference.”
5. Sustainability is key
This year, CES placed a heavy emphasis on sustainability as the tech industry grapples with its ecological impact, and Conybeare acknowledged the need for commerce to have a more positive environmental impact moving forward. Gen Z in particular are becoming ever more conscious about the ethical and ecological impact of the products they select.
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