E-commerce continues to reinvent how people shop, a phenomenon that is putting pressure on many older business models. Homeshopping is a perfect reflection of this as the convenience of mail and entertainment of TV are continually co-opted by the internet. Many homeshopping companies are deftly transitioning to an internet-dominated future. This briefing will outline how they are transitioning and how to best go about it more generally.
The internet age is already here. It is particularly early for mobile internet retailing, but trends move fast enough that moving too slowly will lead to failure given the rapidly evolving competition. A number of homeshopping companies are already aware of this and have successfully transitioned to omnichannel platforms, co-opting mobile connectivity to give shoppers a second screen for purchases.
Moving forward too relentlessly is a good way to forget the customers that helped build the business in the first place. To evolve gracefully and mitigate loyalty changes, established customers must be considered as well. Their needs may not drive growth, but they support current cash flow, which can be just as important.
Even though the internet will cause a great deal of final transactions to transfer from the homeshopping channel, the channel is still valuable in its own right, often as a generator of marketing, content, culture and brand awareness.
TV is a lively medium. It acts as a window to the world and is a wonderful storytelling medium. More windows are opening with the widespread advent of mobile devices and intelligent TV shows are using them to their advantage. The ability to put attractive and personable people on TV and mobile devices alike lets retailers sell lifestyles and demonstrate products from multiple vantage points on one’s couch.
Catalogue shopping may be the most in danger, but there remains a subset of people that still enjoy the feeling of a physical object. The physicality of catalogues imbues them with a realism that is lost behind screens, and therefore makes for compelling content marketing. It also harkens back to another age, something often preferred by the elderly, the rural, and those looking for new coffee table material.
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