Retail Fest Takeaways: Customers calling the shots in a booming online world
One of Hunt & Co.’s team members recently attended Retail Fest at the Gold Coast (the festival’s first year back after a two-year COVID hiatus). Retailers and eCommerce software suppliers were absolutely buzzing to be back in person and sharing insights on how the last three years have transformed the world of eCommerce. This period has firmly cemented consumer wants and needs at the core of a retailer’s decision-making process.
Throughout the whole event, speakers were dropping ‘golden knowledge bombs’. From Rob Godwin (Lovehoney) and Kahrissa Bell (Mr. Consistent) sharing about strategic partnerships through to Travis Wright (Tigerlily) sharing about her journey to C-suite! There was so much goodness shared throughout the 3-day event. A special shout out to Retail Global and the continued amazing work they do for the eCommerce world!
Here are some of our favourite takeaways
Say hello to the ‘Eco-Shopper’: 75% of shoppers will consider sustainability before purchasing
From an increased focus on sustainability – what most retailers are terming the ‘eco shopper’ through to customer demands for choice over every aspect of a purchase, we’re seeing the online consumer’s purchasing power drive more personalised, sustainable and choice laden shopping. These trends aren’t passing – they are full-scale societal trends now being seen in action at the checkout.
According to three in four shoppers think about sustainability before buying anything at all. We’re seeing a move towards conscious buying. Businesses are having to think about their footprint and what they are actually producing. The most responsive brands are adding sustainability lines, introducing sustainable packaging, introducing ‘reworn’ brand lines and companies thinking intentionally about how delivery options lead can impact a brand’s carbon footprint.
Customers are no longer driven to buy a product for a product’s sake, there are now brand ‘hygiene factors’ and real consequences for those that don’t prioritise sustainability or customer choice throughout the transaction.
Prioritise seamless customer experience or be punished for it: 33% of people will ditch a brand after one bad experience
With a plethora of online options, we’re seeing customers demand a seamless experience – according to Martin Newman (Consumer Champion and Founder of Customer Service Action and The Customer First Group), 33% of people will ditch a brand after one bad experience. Those punishing odds mean eCommerce companies need to invest in their customer experience and ensure that they have the team and talent to implement the technology for scalable and seamless customer experiences. Martin noted, “your brand is not the most important thing in the customer’s life, their convenience is”.
The understanding that a brand is only as good as its internal team is in its early stages however the right companies are investing heavily to secure the best talent to in turn delight customers and win their loyalty through personalised and fun shopping experiences.
For early-in-career Digital Marketers and eCommerce Specialists, this means CRM and Retention roles are on the rise and as such represents an area of professional growth that will reap career rewards.
Considering attending Retail Fest next year? You should!
Retail Fest represents an incredible opportunity for anyone who wants to get into the eCommerce industry.
“This conference opens your eyes up to how many eCommerce businesses there are out there and how many ways they do their work. I’d recommend this conference to anyone, even in the early stages of their career. You have industry leaders talking about best practices in eCommerce, and openly sharing their brand strategies – so if you want to carve a career in eComm this is your place to be, it’s definitely worth the investment.” – Hunt & Co. Representative
For those sceptical about attending an event conference – our team reiterates that one of the best parts of this conference was the collaborative and open way brand strategies were discussed. From Lorna Jane‘s team openly showcasing their customer journeys (and a few hidden initiatives they implement) through to new category entrants sharing their low-cost SEO success.
“You’re learning nitty-gritty tactics to learn from and try, and have the opportunity to speak to the best eCommerce leaders about their experience throughout the conference, networking and afterparties. If you’re serious about eCommerce, what could be more valuable than that?”– Hunt & Co. Representative
Interested in exploring other opportunities in Digital Marketing, eCommerce, Technology, Product or beyond, head over to our Current Opportunities.