Content Marketing

Consumer expectations have changed significantly in recent years; the advent of mobile, online and social channels have seen to that. Rakuten has grown from a niche e-commerce player to a global online marketplace in just 16 years. In that time we've learned a few things about how to ensure online success for retailers in an ever-competitive climate. Consider the following five steps:

Omnichannel is the buzzword du jour in retailing. From large chains to midsize independents, brands across the retail industry are eager to leverage new digital opportunities as drivers of increased revenues and market expansion. But while many retailers are talking about omnichannel opportunities, a much smaller number understand what omnichannel really means.

If you're looking for a way to grab and hold a prospect's attention online, video works better than text. According to a Wharton Research Center study, 90 percent of internet surfers leave a text-only site in four seconds, whereas if video is present on the homepage, the drop rate decreases to 60 percent, demonstrating a significant increase in stickiness for sites with video.

With the rapid emergence of visual social media platforms like Pinterest and Instagram, brands and consumers have drastically changed the way they interact online. Conversations that were previously held with text are now driven by images, creating valuable opportunities for social media marketers to engage with their fans.

Like real estate, retail has always been about location, location, location. But as the demographics of the American population continue to shift, retailers have placed more emphasis on targeting specific ethnic groups based on their location and spending patterns. As such, they must rely on advanced micro-geographic technology to get better insight into the prominent ethnicities of specific neighborhoods (both current and future projections) that they're targeting for stores nationwide. Having a better understanding of in-store consumers helps drive online purchases as well.

Competing with an e-commerce Goliath like Amazon.com can be a daunting task, but specialty merchants have some distinct advantages, including the capacity to forge strong ties with shoppers through a brand community. Amazon's online warehouse of products offers little to unite customers around a common lifestyle or passion. By focusing on a particular product category, value proposition or audience, you can provide meaningful interaction and a shopping experience to connect your customers with other like-minded consumers.

Talking about omnichannel is very fashionable for retailers nowadays. At a high level, the concepts behind providing great customer experience across channels are easy to understand. However, those in the business know that executing on a great omnichannel strategy is pretty challenging. Omnichannel retailers are acutely aware of three key trends that are heavily influencing the industry today: