Adapting Your Innovation Strategy To The E-Commerce Reality

More and more shoppers are doing their purchasing both in-store and online channels and they are not mutually exclusive. Online food shopping, in particular, is still at the early stages in Canada, but definitely growing. Growth in technology is helping to move along adoption. Your organization needs to win online and in-store. Consider online as a way to “test and learn” before launching into retail.

Recently, Pearl attended a workshop at the SIAL trade show in Toronto. Here are our 5 key takeaways on Adapting Your Innovation Strategy to the E-Commerce Reality.

 

1. Packaging. The way something looks on a shelf in 3D needs to translate onto online. Packaging needs to work in both channels.

 

 

2.Reduce friction. Online shoppers want the full product details, better pictures, stock confirmation and ease of ordering at checkout. The fashion industry is a great example of great execution.

 

 

3. Make It “snackable”. Because it’s so easy to just “click away”, you need to make your brand messaging, story compelling and easy to digest. However, you need to be cautious that it’s not too different from traditional channels or else it can cause brand confusion.

 

 

4. Online is your biggest asset. From early on, your website and social media helps tell your story to establish your brand. Your products need authentic stories – great stories can earn you marketing revenue through social media.

 

 

5. Reviews & ambassadors are key. If you’re going to put something online, you need to make sure you have a product consumers like and will buy again. This is the only way to receive positive reviews. Research has shown that reviews have a drastic impact on purchase interest and trial.

 

 

Do you want to win in innovation? If you need support on your innovation strategy please contact susanweaver@pearl-strategy.ca.

Source: SIAL Canada Tradeshow, May 2019

2019-05-22T11:14:03+00:00 Innovation, Strategy|