2015: Possessed by Digital Storms

IMAGE MULTI

Resource: www.iphonehacks.com/2014/02/amazon.html (Tide, Up)

www.dailymail.co.uk/femail/article-2114156/Try-buy-21stCentury-style- Now-theres- mirror-tries-clothes-you.html(Image Recognition, Down)

www.firebox.com/product/2312/iREMember-Dream-Recorder (Dream Recorder, Middle)

With spring’s arrival as of today, a quarter of the year has passed. What has awed consumers in the last three months are undeniably the varied payment options brought about by Apple Pay, the increase in the tendency to open digital racks in retail spaces instead of brick-and-mortar pop-ups, and the rise of mass customization. What remains to be expected from the rest of the year may still remain a mystery for many, but such a mystery may be nerve-wrecking for those too curious to wait for something to happen. The brief research conducted out of curiosity below may provide the impatient with a glimpse of the top three marketing surprises winking at the horizon.

1) Memory Mirrors

The idea may sound utopic, but utopic does not necessarily mean impossible. Many luxury apparel brands are paving the way to create additional customer perceived value by offering Memory Mirrors.[1] Such a strategy is apparently intended at improving the in-store shopping experience at branded stores by facilitating the purchase decision of indecisive customers.

To specify, according to www.psfk.com/, consumers will be able to take their full-length pictures through standing in front of the Memory Mirror (a mirror with a high resolution camera) placed in the fitting rooms of luxurious brands.[2] Then, the consumers will be able to post their photos in question on their social media accounts to collect the opinions of key influencers such as friends and family members in real-time.[3] Yet, the pictures will also bear the store’s name and location, promoting the branded store.

Apparently, the digital mirror will not only create additional value for customers, but it will also help brands generate buzz and increase their exposure levels on social and digital marketing platforms. Thus, the magic mirror on the wall will literally be the fairest of them all!

2) Image Recognition

Any consumer must have had, at some point in his/her life, wished that he/she could drag a picture to the Google search bar to find the product/information he/she is searching online. Such wishes are probably more common when the consumer knows neither the brand name nor the price of the product he/she likes. To absolve consumers of the after-guilt such situations bring up, some (especially online) retailers have announced that they will shift to image recognition technology in their stores and branded apps towards the end of the year.[4]

In other words, consumers will be able to take and upload pictures of the products or barcodes of the products that they see (in stores, at friends’ houses, in outdoor spaces, or online) on online retailers’ search tabs, search engines, and branded apps (assuming that they know the brand name).[5] Thereby, the consumer will be able to locate the product he seeks, learn its availability, investigate its price, and compare prices in multiple retailers through just a photo or barcode.

Such a change will undeniably increase mobile’s role and importance in shopping. Yet, the scary point for marketers is that image recognition will make consumers more knowledgeable and demanding than ever by giving them additional power to evaluate alternatives. Undeniably, the change in question will increase the unbearable competition in retail industry and donate online retailers with an additional competitive advantage besides their low fixed costs.

3) The Big Data Pillow

When it comes to collecting insightful data, marketers truly do not know any boundaries. As their latest attempt to decipher the unfathomable black box of consumers, market analysts and consumer behaviour specialists seem to have resorted to dreams. Although imagining dreams’ utilization for marketing purposes could be a little hard, the strategy makes perfect sense given that dreams are one of the most vulnerable paths to the subconscious mind and unexplainable preferences.

Rumour has it that consumer goods manufacturers intend to follow a differentiation product strategy by donating their products with the ability to record Big Data.[6] For instance, through its rumoured Dream Pillow, Ikea plans to offer interested consumers the ability to track their sleeping patterns, record brainwaves during sleep, and even control dreams (with some help from sleep specialists) through downloading an app on pillows and sleeping masks that contain a small computer recording dream/sleep data.[7]

Obviously, the value proposition the augmented pillow/sleeping mask will appeal not only dreamers, but also sleep specialists, astrologists, and marketers. Just imagining how a marketer could exploit the psychological insights provided through such Big Data to segment, target, and profile customers can by itself leave one sleep-deprived because of excitement.

All in all, the three examples above illustrate that digital will serve to create additional consumer perceived value, augment products, and collect insightful data it the rest of 2015. Digital marketing will, without a doubt, keep making the dynamics in the industry evolve throughout the rest of the year. Witnessing how much how much of these highly ambitious steps do take place in the upcoming six months will be beyond exciting.

[1]Please notice that the information provided is with reference to http://www.psfk.com/2015/02/neiman-marcus-memory-mirror-online-shopping.html.

[2]Please notice that the information provided has been derived from http://www.psfk.com/2015/02/neiman-marcus-memory-mirror-online-shopping.html.

[3]Please notice that the information provided is with reference to a brief reading of the following source: http://www.psfk.com/2015/02/neiman-marcus-memory-mirror-online-shopping.html.

[4]This future strategy has been derived from http://www.psfk.com/2015/02/braintree-mobile-commerce-target-in-a-snap.html.

[5]How image recognition technology will be utilized in marketing has been learnt through briefly reading the web-page on the following link: This future strategy has been derived from http://www.psfk.com/2015/02/braintree-mobile-commerce-target-in-a-snap.html.

[6]Please notice that the information provided is with reference to http://www.psfk.com/2015/03/ikea-announcements-2020-retail-hololens-google-cardboard-jawbone-withings-aura.html.

[7]Please notice that information about the Dream Pillow has been derived from the following resource: http://www.psfk.com/2015/03/ikea-announcements-2020-retail-hololens-google-cardboard-jawbone-withings-aura.html.

2 thoughts on “2015: Possessed by Digital Storms

  1. Sounds like it’s going to be an innovative year 🙂
    I’m really looking forward to the picture-enabled search option on google; would make life so much easier. I’m a little worried about the pillow though – voluntarily sharing your mind with Ikea? eeeep!
    Great coverage, thanks for sharing!

    Like

  2. Interesting read. We are living in a digital era where everything is one touch away. Pinterest gives really good visuals for consumers searching online. If Google enables visual based search, it might leave Pinterest behind. We are living in the times where consumers are using tablet, mobile and wearable devices with a collaborate platform. The digital devices open numerous opportunities for the marketers to consider to reach the digital consumer.

    Like

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