New research shows that Facebook dominates in socially driven shopping; Pinterest drives highest average order value
SF Business Times profiles how RichRelevance helps retailers monetize their sites through shopping media
Amazon.com and Walmart.com are increasingly acting like traditional media publishers by selling display advertising on their websites, and estimates put their resulting revenue in the hundreds of millions of dollars a year.
Now other online retailers are following suit in hopes of monetizing the eyeballs their content attracts — regardless of whether they make a product sale.
A couple of San Francisco companies are riding the trend and are at the forefront of what experts say could quickly become a multi-billion dollar market: Connecting advertisers with retailers, designing and selling ads, and then delivering them to consumers….
A decade after the rise of e-commerce, today’s mobile technologies and social media applications have contributed to a convergence of consumer demand and technology.
Consumers now expect constant connectivity and interactivity from retail brands and retailers must embrace omni-channel retailing, an integrated sales experience that melds the advantages of physical stores with the information-rich experience of online shopping.
Omni-channel means seeing things from a consumer’s point of view, not from the comfort of your own business boundaries.
It means interacting with customers via their three channels of exploration: social, mobile and local, at every stage of the purchasing process.
Retail Technology writes on RichRelevance’s mobile study.
A recent report on mobile shopping behaviour found significant differences in the way Britons shop across platforms, according to e-commerce expert Darren Hitchcock
A 2012 study, conducted by e-commerce recommendations technology provider RichRelevance from analysis of more than 1.1 billion shopping sessions across mobile device and desktop computers in both the UK and US, revealed four key trends that offer important insight for British retailers.
Darren Hitchcock, vice president of RichRelevance in the UK and Europe highlighted that, first and foremost, mobile shopping continues to outpace desktop purchasing.
The lack of quality metrics available continues to stymie the advertising industry’s ability to justify spend. While still important, a “click” and/or “view” just doesn’t get me that excited anymore. In order to keep the momentum behind the shift towards digital media, we need to empower our brand partners with better tools to justify this industry change.
The seminal invention of our era has been the mobile phone. All across the world it is fundamentally changing the rules of politics, commerce and manners. The impact of the mobile phone on politics has been profound.
Paco Underhill, retail expert and author, reveals the influences behind purchasing decisions and RichRelevance CEO David Selinger explains how his technology for retailers is staying relevant with the emergence of mobile, local and social.
Q: You’re the author of the global bestselling book ‘Why We Buy’. How did you become an expert in the psychology and science of shopping?
Envirosell, the firm I founded, is the principal testing agency for prototype stores and bank branches in the world. We have studied shopping and circulation patterns for more than 25 years.
Q: In your research what three things most often influence a purchasing decision?
First is the perception of value: is what I am considering worth the amount of money I am being asked to spend? Second, how does what I am buying fit into both the needs I have, or anticipated impact I am looking for? And third, is the experience of shopping one that complements both the goods I am considering, and my concept of self?
RichRelevance Chief Scientist Darren Vengroff reflects on how Amazon changed retailing in UK’s Retail Week.
Amazon’s impact on retail has been remarkable. Its focus on technology and new ideas have produced innovations that set the bar for the industry.
Read the full article on Retail Week