Three Takeaways From The Internet Retailing Expo 2022
The online retail landscape is changing fast. Here’s what we learned at the Internet Retailing Expo.
The Internet Retailing Expo 2022 took place in Birmingham in May, and Pattr was on the ground to find an understanding of current trends in online commerce — and what we might be able to do to help.
The big message of the day was actually a question: _how do we get closer to each and every customer?_ (Pattr knows a thing or two about that.) There were plenty of interesting insights into the changing landscape of online retail — and some exciting opportunities.
Here were our three biggest takeaways:
1. You can’t win with incomplete data
Across multiple talks, it became clear that CTOs and marketing departments are working closer, with a goal towards developing a complete dataset with a single, comprehensive view of the customer.
Ronald Garrick, CTO of cult footwear brand Dr. Martens, argues that a holistic approach to data is key to building a frictionless relationship with customers. It’s impossible to build a strategy of hyper-localisation and personalisation without the customer data to back it up.
Ensuring the organisation has a single view of the customer allows for a stronger omni-channel customer journey. Garrick says one big challenge faced by Dr. Martens is that they can be forced to infer insights based on incomplete data that doesn’t tell the whole story.
2. Micro-influencers are unsurprisingly important
The social media marketing conversation over the past few years has been dominated by the idea of micro-influencers — brand advocates who might not have huge followings like many social media stars, but nonetheless wield a surprising amount of sway over particular kinds of customers. We launched Superfans as a way for brands and organisations to identify, reward and retain the kind of brand advocates who have the potential to become micro-influencers.
Craig Neale, Chief Marketing Officer for buzzy private members club The Sixty Nine, agreed that micro-influencers are an increasingly important part of the online marketing landscape. But, he cautioned, that doesn’t equal a rejection of larger, more established players.
Instead, both categories offer something important — just with different levels of meaningful engagement. A larger influencer might naturally absorb more clicks, likes and reach, but that doesn’t neatly translate into more sales as often as some might think.
Neale said that micro-influencers are more likely to convert their smaller audiences, and they can be an excellent way of getting your brand into new markets organically while minimising spend.
3. Gen Z are craving different sorts of conversations
Gen Z’s buying power is ratcheting up, and marketers naturally want to know how they can get in on the action.
One key differentiator with previous generations is their fixation on truth and authenticity in advertising. Neale suggested that Gen Z is much more likely to abandon an entire brand if they don’t think they practice what they preach.
In short, they would prefer a company to be honest and stand for something rather than fade into the background and stay neutral. As such, they can be highly swayed in their purchasing decisions by opinionated micro-influencers.
They also crave more interesting and unique experiences both online and off, and are more interested in experiences that bridge the divide between ecommerce and physical retail. This ties in with Dr. Martens pitch of an omnichannel “brick and click” approach that marries in-person retail with online sales.
Interested in learning more about how Pattr can help online retailers connect better with customers? Book a demo today.
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