This week, startup, Yotpo raised $75M for its e-commerce marketing cloud. The new kid on the block provides a suite of tools to help direct-to-consumer and other e-commerce players build better relationships with customers.
Why do we care? Well, this proves that there is a strong demand for technology-driven solutions that put humans at the center of the digital buying experience and investments are pouring into solutions that manage the customer's online journey.
This is human commerce.
I began researching the intersection between technology, product, and consumer at the beginning of 2020. Even though E-commerce was noticeably on the rise and has been for some years, I recognised a massive opportunity in building out luxury digital storefronts to complement the elements of delight that consumers were experiencing when entering a Designer store. I wanted to locate and track down the innovators who were tapping into this space. We set about documenting conversations with leaders, industry insiders, and experts to be able to provide a full report on what were the expectations of today's consumers, the innovations that were being explored, and the solutions being provided.
Then COVID-19 happened.
Of course, this had a huge impact on internet use, and specifically e-commerce, as people turned to digital channels in record numbers.
E-commerce has been on the rise for years, but the acceleration of that trend has been drastic since February, with revenue and spend both regularly exceeding baseline figures over the last several months, according to research from digital marketing agency Common Thread Collective.
The demand for human-centric digital experiences has escalated and encouraged companies to operate in more direct and personable ways. Yotpo struck gold and became a direct beneficiary: It said it had a surge of sign-ups of new customers in a matter of months.
What does all of this mean for a brand like yours? Change is constant and technological advancements and solutions have been brewing for the past few years when it comes to the power of e-commerce, but during the pandemic, consumer behavior shifted dramatically, and now new expectations need to be met.
By putting humans at the center of innovation and technology we are creating delight throughout the whole digital experience. As more people move online, brands need to think about how they can leverage their infrastructure. The goal is to create experiences that are differentiated as those found in the store. The definition of e-commerce has to evolve from a transactional experience to a more memorable one. It has to become as delightful and additive to the brand as an in-store experience once was, and perhaps even better.
Are you ready for the future of e-commerce? Download the report today to be at the forefront of digital change.
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