2010.23 | Store 2010 and Retail Technology

I attended Store 2010 this past week here in Toronto, and was fortunate to hear some engaging speakers.   While I can’t possibly do justice to all of the points covered in the discussions which were just loaded with statistics and information, here are a few highlights and links to sites of interest from a retail technology perspective:

Daniel W. O’Connor of RetailNet – 2015: Next Generation Retailing

Chris O’Neill of Google – Google’s Big Bets in a New Retail Landscape

  • 20% of queries are local – opportunity for retailers to capitalize – Google’s Nearmenow makes it even easier for consumers to find what they are looking for.
  • Search is getting even easier on a mobile platform, as the need to type is removed, as Google Goggles allows for search based on an image from a mobile phone.
  • 87% of consumers research retail purchases online, while only 4% complete the purchase online

Mitch Joel of Twist Image – Social Commerce and Emerging Trends

  • 81% of shoppers read reviews – 1 negative review converts more people than every review being positive – people know what idiots are like
  • Comfort with channel drives commerce – Best Buy allows purchases within Facebook via Best Buy Shop and Share
  • Haul Videos are an example of how consumers are changing the dynamic
  • One day, one deal – Woot uses extreme simplicity, selling one product for one day only.
  • People discuss what they bought on Blippy, connect credit card, and tweets purchases.

There were far too many great examples of retail technology innovation to cover them all, but this gives a flavour. 

To get a first hand idea of what’s going on here in Canada with respect to social media, consider: Canadian Retailers on Twitter and Canadian Restaurants on Twitter.

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