21st September 2011: Richard Anson, Founder of Reevoo, discusses the transformation of the consumer shopping journey by social commerce, mobile technology and other factors.
Read more about this seismic shift and find out how businesses can respond in our ebook, The New Social Purchase Journey.
The social purchase journey
Over the last five years the consumer purchase journey has changed hugely. We're now calling it the social purchase journey. Consumers are interacting with friends and family, they're interacting with social content – reviews and ratings and recommendations on consumer and retailing brands' websites – as well as having multiple touch points, using their mobile platform in-store and on the web as well.
Social Commerce Revisited
I think in some ways we are bringing what used to happen 50 years ago back into shopping. 50 years ago you would have known your shop keeper very well, you would have known your fellow shoppers. We then kind of moved through a very anonymous phase and we are now coming back and technology is enabling that. So we are coming back to a stage where even though people are disparate, they are actually becoming much much closer on various different social network platforms etc. The past is coming back into the present.
Social Commerce is here to stay
All our research and our data shows that social commerce is here to stay: consumers are expecting it; it's part of their natural behaviour; I think they are becoming increasingly demanding and you can't ignore it. I think it is a huge opportunity for you on this one to embrace.
How does this impact retailers?
The new social purchase journey is a huge opportunity for retailers. The opportunity for them is to inject trust and inject trusted social content at all the touchpoints to influence the consumer in a trusted, transparent manner, to help them make a purchase.
Are retailers ready for the social purchase journey?
Retailers are reacting very positively. Inevitably there is a huge swathe in terms of readiness. But they all get the changes and we are working very closely with them with our tools and solutions to make sure that they can kind of maximise their sales whilst building long-term relationships with their consumers.
Seizing the opportunity with Reevoo
Well, for Reevoo it's what we do, so it's a huge opportunity. I am delighted that we are able to support our customers and help them make the most of the opportunity out there.