From e-commerce to customer experience, GlobalData identifies some of the top tweeted terms trending in retail industry discussions happening on Twitter by key individuals (influencers) in Q3 2019.
E-commerce – 1,359 mentions
Choosing the right e-commerce platform and the best e-commerce content marketing strategies were the top topics of discussion in retail technology trends in Q3.
Creating a successful e-commerce business depends on choosing the right platform, with options ranging from open-source, to cloud and software as a service (SaaS). According to Jessica Bruce, an influencer and e-commerce expert, identification of business needs, target audience, careful research and calculation of costs involved are essential to success.
Once an e-commerce business is launched, marketing its content is even more important. E-commerce analytics play a key role in defining marketing strategies. They provide insights into aspects of the business such as traffic and customer buying patterns, as identified by Michael Schiemer, an entrepreneur and author. Using this data, businesses can understand the demographics of their audience. This can be used to promote their business through social media and influencers.
On 17 July, @MikeSchiemer tweeted: “How To Use Ecommerce Analytics To Generate More Sales https://www.myfrugalbusiness.com/2019/01/how-to-use-ecommerce-analytics-generate-more-sales.html … / #Ecommerce #Analytics”, which saw 15 likes and 13 retweets.
Innovation – 323 mentions
The innovative strategies that brick and mortar retailers need to adopt in order to survive and compete with online retailers was a heavily discussed topic during the quarter. The discussion was driven by the success of online retailer Amazon’s Prime Day sale in July, which surpassed sales on Black Friday.
More than 7,000 retail store closures have already been announced this year. This is due to the age-old strategies adopted by them and competition from online retailers. Despite the closures, new store openings were also announced by retailers. Typically these are adopting new business models such as an omni-channel approach. They also provide innovative experiences in-store to attract customers.
On 24 September, @tonycdonofrio tweeted: “Quite a few traditional retailers have seen a renaissance of sorts. http://ow.ly/QpLx50wl67L Brick-and-mortar stores’ role in driving online shopping is increasingly important and well documented. Fully agree @StevenPDennis #retail #Innovation #leadership”, which collected five likes and five retweets.
Artificial Intelligence – 290 mentions
The way customers are shopping has undergone a major transformation over the years. New technologies and artificial intelligence (AI) are poised to play a key role in the future.
On 16 July, @MikeSchiemer tweeted: “Why AI Is The Future Of Retail https://www.myfrugalbusiness.com/2019/06/ai-future-retail-artificial-intelligence.html … / #Retail #RetailRow #RetailTech #Retailers #AI #ArtificialIntelligence #MachineLearning”, which attracted 15 likes and 13 retweets.
Digital Transformation – 207 mentions
Digitalisation in retail and its impact on how customers shop was a highly discussed topic during the quarter. Investing in digital technology is essential for retailers to succeed in the future. Customers are looking for new ways of shopping such as click and collect and virtual point-of-sale systems to improve their experience.
Digital technology can help retailers by providing data on their inventory, transfer online sales to physical stores and offer flexible delivery options. In line with this trend, McKinsey is opening a new retail pop-up store named Modern Retail Collective at the Mall of America. The new store will be fully-technology enabled, will implement new technologies and provide insights to retailers on technologies that work and those that do not.
On 9 July, @CyrilCoste tweeted: “Retailers need to get off the sidelines and begin designing new customer experiences. The most forward-thinking retailers are already digitally mature; doing nothing is no longer an option https://insights.samsung.com/2019/02/04/the-emergency-of-digital-transformation-for-brick-and-mortar-retail/ …#Retail#DigitalTransformation”, which saw four likes and three retweets.
Customer Experience – 158 mentions
Improving experience to gain loyal customers was one of the most talked about topics during Q3.
On 17 July, @CyrilCoste tweeted: “70% of the buying experiences are based on how the customer feels they are being treated https://yourstory.com/2015/01/loyal-customers/ … ecommerce CX customer experience #DigitalTransformation retail marketing mobile”, which attracted 15 likes and two retweets.