tag:www.econsultancy.com,2008:/topics/payments-2 Latest Payments content from Econsultancy 2018-01-12T15:36:38+00:00 tag:www.econsultancy.com,2008:BlogPost/69722 2018-01-12T15:36:38+00:00 2018-01-12T15:36:38+00:00 The best digital marketing stats we’ve seen this week Nikki Gilliland <h3>Mobile payments continue to rise</h3> <p>Fresh data from Global Web Index <a href="http://insight.globalwebindex.net/mobile-payments?utm_campaign=Mobile%20Payments&amp;utm_source=hs_email&amp;utm_medium=email&amp;utm_content=59916829&amp;_hsenc=p2ANqtz-_faJUDXluJY8tk003JcJHqw5tavH9kcLCw0DW98JC7eK7IejDHbZPJ2M1tiyn0QXp1PrspQKqN97mn6L5JrM_kCSktS-4UNhF4StyBRki9uNCKoB8&amp;_hsmi=59917916" target="_blank">suggests</a> that mobile payment usage is steadily rising. </p> <p>From analysis of 89,029 internet users aged 16 to 64 in 40 countries, it found that 33% had used a mobile payment service in the last month – up from 29% the previous year. </p> <p>Asia is the global leader, with 46% of Chinese consumers using a mobile payment service in the past month. While legacy payment methods might be holding other countries back, growth is still promising, as uptake in the UK has almost doubled since Q4 2015.</p> <p><img src="https://assets.econsultancy.com/images/0009/1630/Mobile_Payments.JPG" alt="" width="841" height="449"></p> <p><em>(Percentage of internet users who used a mobile payment service in the last month)</em></p> <p>While WeChat Pay is one of the top mobile payment services in China, it is far outweighed in the US and UK by the likes of Apple Pay and PayPal mobile. Could its recent expansion to Malaysia spur on adoption elsewhere? Subscribers can read more on what’s next for WeChat in Econsultancy’s <a href="https://econsultancy.com/reports/understanding-wechat-an-overview-of-china-s-social-payment-and-messaging-giant/" target="_blank">new report.</a></p> <h3>FMCG has highest average marketing salaries</h3> <p>Marketing Week’s 2018 Salary Survey has produced some interesting results.</p> <p>FMCG, consumer electronics, and gaming and gambling are the top three industries when ranked by average pay.</p> <p><img src="https://assets.econsultancy.com/images/0009/1645/av_wage.jpg" alt="average marketing wage" width="615"></p> <p><em>Average marketing wage by sector</em></p> <p>The happiest sector is gaming and gambling, where more than 60% of marketers are quite happy or very happy with their role. At the other end of the scale, more than 35% working in beauty are quite unhappy or not happy at all, making it the most unhappy sectors for marketers.</p> <p>It’s no coincidence, therefore, that when asked if they receive fair financial reward for their work, marketers in gaming and gambling were fairly positive, with 65% agreeing. Only utilities saw a greater percentage of marketers who agreed they receive fair financial rewards for their work.</p> <p><em><a href="https://www.marketingweek.com/tag/career-and-salary-survey-2018/">More at Marketing Week.</a></em></p> <h3>Promotional emails typically generate poor read rates</h3> <p>Return Path’s <a href="https://returnpath.com/downloads/2018-email-marketing-lookbook/?sfdc=701370000006RpG" target="_blank">latest report</a>, which comes from the analysis of 600,000 commercial emails, suggests that email marketers could be wrongly focusing on promotional emails. </p> <p>Despite promotional emails (i.e. emails that highlight a particular service, offer, or event) accounting for more than 70% of all messages in the study, it’s one of the most poorly performing campaign types, seeing a read rate of just 19% and a deleted-before-reading rate of 12%.</p> <p>Other takeaways from the report include the recognition that welcome emails are effective for building new subscriber relationships. However, this type of campaign was found to have the lowest inbox placement rate out of all studied, showing that it still presents a big challenge for marketers.</p> <p>Finally, post-purchase emails were found to outperform every other campaign type, typically seeing a high read rate and a low deleted before reading rate.</p> <p><img src="https://assets.econsultancy.com/images/0009/1629/post_purchase.JPG" alt="" width="250" height="687"></p> <p><strong>More on email marketing:</strong></p> <ul> <li><a href="https://econsultancy.com/blog/69675-what-were-the-biggest-email-trends-in-2017" target="_blank">What were the biggest email trends in 2017?</a></li> <li><a href="https://econsultancy.com/blog/69688-email-trends-in-2018-what-do-the-experts-predict" target="_blank">Email trends in 2018: What do the experts predict?</a></li> </ul> <h3>Leaked data shows poor performance of Snapchat maps</h3> <p>Snapchat is notoriously secretive about its usage stats, however <a href="https://www.thedailybeast.com/this-is-the-data-snapchat-doesnt-want-you-to-see" target="_blank">leaked data</a> obtained by the Daily Beast shows that new features are failing to capture the imagination of long-term users.</p> <p>Maps, which tells you the location of friends on a map, had 30m daily users when it first launched. However, this has now fallen to just 19m (11% of Snapchat’s daily active user-base). Stats also show that just 21% of people use Discover on a daily basis, which includes content from news brands and magazines likes The New York Times and Buzzfeed.</p> <p><img src="https://assets.econsultancy.com/images/0009/1627/snapchat_maps.JPG" alt="" width="780" height="467"></p> <p>It’s not all bad news however. With users sending an average of 34 messages a day during the period of June to September 2017, it appears the app’s core functionality is still keeping users on the platform.</p> <p><strong>More on Snapchat:</strong></p> <ul> <li><a href="https://econsultancy.com/blog/69623-how-will-snapchat-s-redesign-affect-branded-content" target="_blank">How will Snapchat's redesign affect branded content?</a></li> <li><a href="https://econsultancy.com/blog/69623-how-will-snapchat-s-redesign-affect-branded-content" target="_blank">Snapchat opens up to the web in a big way with new Paperclip linking feature</a></li> <li><a href="https://econsultancy.com/reports/snapchat-how-brands-are-getting-creative-on-the-service" target="_blank">Snapchat: How brands are getting creative on the service</a></li> </ul> <h3>Failed Christmas deliveries in UK predicted to cost £464.9m in return</h3> <p><a href="http://sorted.co.uk/p/24IJ-6W6/coming-together-the-blueprint-for-collaborative-commerce" target="_blank">According to research</a> from Sorted, failed Christmas deliveries will cause an estimated £464.9m of returns in January. This prediction comes from an original survey of 2,000 shoppers in the UK based on their attitudes and opinions towards delivery.</p> <p>It predicts that even after ‘Take Back Tuesday’ – the first working day of the New Year, when gift return volumes double the daily average – returns will continue to squeeze already tight margins for retailers. </p> <p>The report also suggests that this could lead to a ripple effect, with 20% of shoppers who send back one item due to late delivery also likely to return the rest of their basket. Meanwhile, it also poses bad news for loyalty, as 38% of shoppers say a complex or difficult returns experience would make them less likely to shop with that same brand in future.</p> <p><strong>More on delivery and returns:</strong></p> <ul> <li><a href="https://econsultancy.com/blog/68677-how-10-ecommerce-sites-present-returns-policies/" target="_blank">How 10 ecommerce sites present returns policies</a></li> <li><a href="https://www.econsultancy.com/blog/69301-how-10-online-retailers-promote-free-and-fast-shipping" target="_blank">How 10 online retailers promote free and fast shipping</a></li> </ul> <h3>Consumers favour socially-conscious brands</h3> <p>Sprout Social <a href="https://sproutsocial.com/insights/data/championing-change-in-the-age-of-social-media/" target="_blank">has surveyed</a> more than 1,000 US consumers to find out their opinion on brands that weigh in on social and political events. The results show that brands face greater reward than risk, as consumers are more likely to share on social if they agree, but take no action if they don’t. Meanwhile, ‘intrigued’, ‘impressed’ and ‘engaged’ were the top three emotions cited in association with brands taking a stand.</p> <p>Interestingly, it appears brands that express an opinion on social issues can do more than just generate awareness. While 66% of respondents say posts from brands rarely or never influence their opinions, 37% say that brands encourage them to take specific steps to support a cause or make a donation.</p> <p>So, which brands have taken a stand in advertising campaigns? Read about <a href="https://www.econsultancy.com/blog/69702-five-brand-campaigns-that-took-a-stand-on-social-issues/" target="_blank">five successful examples here</a>.</p> <h3>UK shoppers spent an extra £1bn this Christmas</h3> <p>Kantar Worldpanel has revealed that the average UK household spent an average of £1,054 on groceries in the three months leading up to Christmas 2017, also spending a total of £747m on 22nd December alone.</p> <p>Kantar also found shoppers spent a total of £469m on premium own label lines in December, with chilled items, fresh meat and bakery among the most popular food categories. With an extra £1bn being spent compared to the previous year, it resulted in huge sales for the biggest supermarkets. </p> <p>While Lidl and Aldi were the fastest growing year-on-year, Tesco actually saw the fastest growth over the Christmas period, with sales up 3.1% during the 12 weeks.</p> <p><img src="https://assets.econsultancy.com/images/0009/1628/kantar.JPG" alt="" width="642" height="538"></p> <p><strong>More on supermarkets:</strong></p> <ul> <li><a href="https://www.econsultancy.com/blog/69172-10-supermarkets-with-10-very-different-email-opt-in-opt-out-strategies" target="_blank">10 supermarkets with 10 very different email opt-in/opt out strategies</a></li> <li><a href="https://www.econsultancy.com/blog/69645-10-of-the-best-ad-campaigns-from-the-uk-s-top-supermarkets" target="_blank">10 of the best ad campaigns from the UK’s top supermarkets</a></li> <li><a href="https://www.econsultancy.com/blog/67992-how-amazonfresh-is-hoping-to-threaten-the-uk-s-big-four-supermarkets" target="_blank">How AmazonFresh is hoping to threaten the UK’s ‘big four’ supermarkets</a></li> </ul> tag:www.econsultancy.com,2008:BlogPost/69641 2017-12-07T13:00:00+00:00 2017-12-07T13:00:00+00:00 Target is the latest retailer to launch a mobile wallet: Will it work? Patricio Robles <p>For the retailers still standing, finding ways to adapt has never been more important.</p> <p>Naturally, one of the ways many retailers are trying to defend themselves against the ongoing retail bloodbath is to fortify their relationships with customers. And one of the means by which a growing number are attempting to accomplish this is through the launch of mobile wallets.</p> <p>The latest retailer to embrace mobile wallets is Target, the second largest discount store retailer in the U.S., which <a href="https://corporate.target.com/article/2017/12/wallet-in-target-app">announced</a> the launch of a feature called Wallet on Monday.</p> <p><img src="https://assets.econsultancy.com/images/0009/0967/walmart_wallet.jpg" alt="walmart wallet" width="600" height="397"></p> <p>Wallet is available in both versions of Target's mobile app – Android and iOS – and allows users to pay for their purchases with their Target REDcard debit or credit card and apply discounts from Target's Weekly Ad coupons and Cartwheel, the retailer's savings program. Soon, users will also be able to link Wallet to Target GiftCards.</p> <p>According to Target, “one big benefit [of Wallet] is faster in-store checkout—up to four times faster than other payment types, in fact.” And Mike McNamara, Target's chief information and digital officer, believes that “guests are going to love the convenience of having payment, Cartwheel offers, Weekly Ad coupons and GiftCards all in one place with Wallet.”</p> <h3>What works for Starbucks might not work for other retailers</h3> <p>The most prominent and successful retailer mobile wallet is that offered by giant coffee chain Starbucks. It is <a href="https://www.geekwire.com/2017/mobile-payment-now-accounts-30-starbucks-transactions-company-posts-5-7b-revenue/">now responsible for nearly a third</a> of Starbucks' transactions and is one of the most widely used mobile wallets in existence.</p> <p>With Starbucks clearly in mind, numerous retailers, including Walmart, CVS, Kohl's and now Target, have launched mobile wallets of their own.</p> <p>But what works for Starbucks doesn't work for everybody. In fact, based on a report published by PYMNTS.com, The Motley Fool's Matthew Cochrane <a href="https://www.fool.com/investing/2017/05/10/its-time-to-face-the-facts-mobile-wallet-usage-rat.aspx">noted that</a> “mobile wallet usage rates are laughably low.”</p> <p>For example, according to PYMNTS.com's data, while Walmart Pay's install rate was respectable compared to more mature mobile wallets, “fully 55.8% of Wal-Mart customers in the survey either wanted to use cash, were not comfortable with the platform, or simply flat out stated they didn't want to use a mobile payment method.”</p> <p>Why is Starbucks succeeding where most others aren't? Countless numbers of people frequent Starbucks on a regular basis, and many even head to Starbucks daily. And because Starbucks' mobile wallet has to be used to earn rewards in Starbucks' rewards program, regular customers have a significant incentive to do so.</p> <p><img src="https://assets.econsultancy.com/images/resized/0006/7589/img_2173-blog-flyer.png" alt="starbucks order and pay" width="300"></p> <p>Few retailers match the customer purchase frequency of Starbucks or have loyalty programs as popular as the coffee chain's. And some mobile wallets have less-than-compelling value propositions and significant limitations that deter use.</p> <p>In Target's case, the requirement that customers have a Target REDcard debit or credit card to use Wallet obviously decreases the universe of customers who can use it. And it's not clear that the promise of in-store checkouts up to four times faster would encourage large numbers of customers who don't have a REDcard to sign up for one.</p> <p>From this perspective, it would appear that Target's mobile wallet offering is unlikely to achieve Starbucks-like success, but it doesn't necessarily have to, to be beneficial for the company. For example, if Target can drive some additional acquisition of REDcard holders and/or encourage existing REDcard holders to use their REDcards at a higher clip than they do now, it could profit.</p> <p>That said, for retailers that launch mobile wallets – Target certainly won't be the last – strategy will be increasingly important as the number of mobile wallets grows.</p> <p><em><strong>Further reading:</strong></em></p> <ul> <li><a href="https://econsultancy.com/reports/starbucks-adapting-to-changing-consumer-habits">Starbucks: Adapting to changing consumer habits</a></li> <li><a href="https://econsultancy.com/blog/69364-walmart-signs-ecommerce-deal-with-google-to-fight-amazon">Walmart signs ecommerce deal with Google to fight Amazon</a></li> </ul> tag:www.econsultancy.com,2008:BlogPost/69577 2017-11-15T12:00:00+00:00 2017-11-15T12:00:00+00:00 Restaurants are going cashless, here's three reasons why Nikki Gilliland <p>But what are the benefits for the companies taking the plunge? And more to the point – are consumers accepting of it? Let’s take a look at the current situation, along with a few examples of brands embracing cashless payments.</p> <h3>Aligning with consumer behaviour</h3> <p>Earlier this year, the British Retail Consortium announced that cash was no longer the nation’s preferred method of payment. Cards now account for more than half of all retail purchases in the UK, while contactless cards account for roughly one third of all payments – increasing from just 10% in 2015. </p> <p>Meanwhile, despite the adoption of mobile payment methods such as Apple Pay and Walmart Pay being slower to catch on in the US, data still shows that almost half of all American service or purchase payments are <a href="https://letstalkpayments.com/cashless-society-in-2017/" target="_blank">made with credit</a> or debit cards.</p> <p>Alongside the majority of retail stores, restaurants are now starting to recognise this growing consumer behaviour. Fast food outlets have been the first to catch on, with the speed and convenience of cashless payment naturally aligning with the kind of service offered.</p> <p><a href="https://www.econsultancy.com/blog/67541-10-delicious-digital-marketing-campaigns-from-mcdonald-s" target="_blank">McDonalds</a> has been rolling out digital ordering technology in thousands of its restaurants, allowing consumers to order and pay for their food via card-only self-serve kiosks. With a large proportion of customers probably already paying via card, the new system feels like a natural next step.</p> <p><img src="https://assets.econsultancy.com/images/0009/0400/McDonalds.JPG" alt="" width="740" height="473"></p> <h3>Improving efficiency</h3> <p>Alongside restaurants going cashless to facilitate the growing usage of mobile payments, they’re also doing so to improve general efficiency – which happens to benefits both customers and employees.</p> <p>Last month, US burger chain Shake Shack opened its first ever cash-less, kiosk-only restaurant in New York City, where customers use either digital kiosks or mobile phones to place orders.</p> <p>The focus here is freeing up employees to concentrate on the kitchen or front-of-house hospitality. Eliminating cash payments furthers this, theoretically making the dining experience much more seamless for everyone involved. Customers do not have to fiddle about with cash, and employees aren’t required to stay fixed to cash registers in order to deal with payments – ultimately reducing wait times and general friction.</p> <p>In the UK, healthy food chain Tossed has a number of entirely cashless stores in London, where customers can only order and pay via kiosks that take contactless or card payments. The decision was mainly due to restaurants suffering during busy service times, with food being made fresh to order (and customers wanting to customise orders) amplifying the issue. The decision appears to have paid off, with the chain seeing turnover increase by 13.6% to over £10 million in the past year.</p> <p><img src="https://assets.econsultancy.com/images/0009/0399/Tossed.JPG" alt="" width="780" height="361"></p> <h3>Integrating with digital rewards</h3> <p>Another reason restaurants and cafes are focusing on cashless payment is that the strategy naturally aligns with other innovations in digital technology. For example, restaurants are now introducing new mobile apps that enable consumers to choose faster payment options, while simultaneously accessing rewards and digital ordering services.</p> <p>Chipotle has recently updated its app with these multiple features. Integrating Apple Pay technology, customers can now order ahead and pay at the same time (much like the service offering by Deliveroo) as well as access offers and other perks.</p> <p>Similarly, Café Nero has integrated its <a href="https://econsultancy.com/blog/68114-six-tips-for-loyalty-program-success" target="_blank">loyalty program</a> into its mobile app. Instead of getting a paper card stamped with every purchase, the app allows customers to pay and simultaneously add stamps to their digital loyalty card. Killing two birds with one stone – it frees up time and makes the customer experience much more seamless.</p> <p><img src="https://assets.econsultancy.com/images/0009/0396/Cafe_Nero.JPG" alt="" width="305" height="564"></p> <h3>Are customers happy about it?</h3> <p>While the aforementioned benefits are clear, that’s not to say that all consumers are ready and willing to go cashless. First, there’s the argument that taking away the option for cash is arguably unfair, ultimately discriminating against those who do not have or want to use a card or app.</p> <p>Meanwhile, there’s also the danger of a cashless society leading to over-consumption. In other words, the ‘tap and go’ aspect of contactless payment means that it’s far easier to lose track of what you are buying, leading to many consumers over-spending rather than saving. </p> <p>This is arguably worsened by many banks offering discounts or offers when you reach a certain number of contactless transactions, potentially leading to consumers spending more in the long run.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Free Birthday treat from <a href="https://twitter.com/NatWest_Help?ref_src=twsrc%5Etfw">@NatWest_Help</a> MyRewards. Thank you <a href="https://t.co/Ihoul0IUbc">pic.twitter.com/Ihoul0IUbc</a></p> — Edward Leung (@iEdLeung) <a href="https://twitter.com/iEdLeung/status/915518797276213248?ref_src=twsrc%5Etfw">October 4, 2017</a> </blockquote> <h3>Who else will suffer?</h3> <p>With improved efficiency, large retailers and restaurants are likely to benefit from going cashless. However, not all companies will win out. </p> <p>The charity sector is one that might struggle if the trend continues. While it has the potential to help attract more donations from passers-by, investment in the technology (as well as the transactional fees required from donations) could eat into overall funds raised, though of course there are costs associated with processing cash, too.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">That's new - tap to pay - contactless giving <a href="https://t.co/0h2wKxPMCy">pic.twitter.com/0h2wKxPMCy</a></p> — Peter Henley (@BBCPeterH) <a href="https://twitter.com/BBCPeterH/status/811532215146475520?ref_src=twsrc%5Etfw">December 21, 2016</a> </blockquote> <p>Similarly, small businesses could be in danger of being left behind by the rise of a cashless society, and on a much bigger scale, it could contribute to a widening of the wealth gap, with the homeless and people in need losing out on spare change.</p> <p>It might sound like a far-flung notion, but a completely cashless society is not as much of an alien concept as it sounds. Sweden is widely predicted to be the first-ever example, with cash currently being used in less than 20% of transactions, and a large proportion of shops and services solely offering mobile and card payment technology.</p> <h3>In conclusion…</h3> <p>Will more restaurants start to take on a no-cash policy? In traditional, sit-down restaurants, the move looks less likely. With employees already required to wait on tables, going cashless won’t free up much time. Plus, the fact that a lot of customers still prefer to use loose change for tips is likely to impact the decision.</p> <p>For fast-food outlets and less traditional eateries, the opportunity to improve the customer experience as well as streamline digital technology (such as apps and ordering systems) certainly makes it more appealing. And as more people than ever rely on cards and mobiles, perhaps it’s only a matter of time before we follow suit with Sweden.</p> <p><strong><em>Related reading:</em></strong></p> <ul> <li><em><a href="https://econsultancy.com/blog/68192-how-can-mobile-payment-actually-improve-customer-experience/" target="_blank">How can mobile payment actually improve customer experience?</a></em></li> </ul> tag:www.econsultancy.com,2008:BlogPost/69457 2017-09-29T09:52:00+01:00 2017-09-29T09:52:00+01:00 Can big banks catch up to Venmo with P2P payments app Zelle? Patricio Robles <p>One such market is payments, and specifically, peer-to-peer payments.</p> <p>In 2009, two university students created Venmo, a person-to-person (P2P) payments solution, because they found settling a small debt to each other was more troublesome than it seemed it should have been. Since then, the Venmo app has taken off and is so popular with millennials that in the US the word “Venmo” is a verb. Splitting a bill and need your friend to settle her portion? “Venmo me.”</p> <p>In 2012, payments company Braintree acquired Venmo for approximately $26m, and a year later, Venmo found a home at PayPal when the digital payments giant purchased Braintree in an $800m deal.</p> <p>Today, Venmo processes tens of billions of dollars worth of payments per year and is still growing like a weed. In fact, in the second quarter of the year, it processed $8bn in payments, a more than 100% increase year-over-year.</p> <p><img src="https://assets.econsultancy.com/images/resized/0008/9238/6203227491_b5a155b95b_o-blog-flyer.jpg" alt="" width="470" height="470"></p> <p>As Econsultancy contributor Charles Wade <a href="https://econsultancy.com/blog/68853-financial-institutions-need-to-act-fast-to-avoid-being-outflanked-by-tech-giants">observed</a>, “Companies like Venmo...are outflanking traditional players by combining genuinely useful capabilities, like splitting payments across a group, with zeitgeist features such as transaction history in a social media-style feed, replete with comments.”</p> <p>For obvious reasons, established players can no longer ignore upstarts like Venmo and thus, they've been busy developing their own alternatives.</p> <p>The establishment's “Venmo-killer” is called Zelle and <a href="https://www.zellepay.com/">it's finally here</a>. More than 30 banks, including Bank of America, Citi, JPMorgan Chase and Wells Fargo, as well as a number of large credit unions, are on board with Zelle.</p> <h3>So how does it stack up?</h3> <p>Zelle serves largely the same purpose as Venmo but it adds a few twists. These include:</p> <ul> <li>Many of the banks that are participating in the Zelle network have integrated Zelle into their own banking apps. While a standalone app is also available, having its functionality accessible through banks' existing apps could theoretically help drive adoption and usage.</li> <li>Payments sent between Zelle users “typically occur in minutes” as opposed to one business day or more with Venmo.</li> <li>Sending and receiving payments in Zelle is free. The same is true with Venmo except in cases where the source of funds is a credit card.</li> <li>When sending payments through a banking app that has integrated Zelle, users can select the source of funds. For example, it's possible to send a payment with a checking or savings account. Venmo doesn't offer this functionality.</li> <li>Adding a debit card to Zelle's standalone app is easier than with Venmo as a routing number isn't required.</li> <li>Unlike Venmo, Zelle isn't as focused on social features.</li> </ul> <h4>The big question: will any of Zelle's potential advantages over Venmo help it achieve success now that Venmo has already reached verb-level popularity?</h4> <p>It's hard to say. Despite the fact that Zelle has some advantages over Venmo thanks to its banking backers, <a href="https://econsultancy.com/blog/68517-what-is-zelle-and-why-haven-t-you-heard-of-it">a lot will depend on how well it's marketed</a>. Even if Zelle takes an aggressive stance and decides to highlight Venmo's flaws, the millennial userbase of Venmo might not care. As Econsultancy research analyst Arliss Coates noted, “even without millennial antipathy to the banking sector, the 18-40 year old market is notoriously tough to win over.”</p> <p>With this in mind, it's interesting that Zelle isn't prioritizing winning over Venmo's core userbase. “When we talk about Zelle, it's about a target market that ranges from 18 to 54,” Jeremiah Glodoveza, VP of communications at Early Warning, the company that operates Zelle, explained. </p> <p>According to Glodoveza, that's why certain features, like social sharing, aren't a part of Zelle. “What we're really optimizing is for an ubiquitous experience,” he stated.</p> <p>Time will tell whether this strategy can work and the outcome will reveal a lot about entrenched financial institutions' ability to catch up to the upstarts that have been disrupting them.</p> <p><em>For more on this topic, check out these Econsultancy resources:</em></p> <ul> <li><a href="https://www.econsultancy.com/reports/digital-transformation-in-the-financial-services-sector-2016"><em>Digital Transformation in the Financial Services Sector</em></a></li> <li><a href="https://www.econsultancy.com/reports/2017-digital-trends-in-financial-services-and-insurance"><em>Digital Intelligence Briefing: 2017 Digital Trends in Financial Services and Insurance</em></a></li> </ul> tag:www.econsultancy.com,2008:BlogPost/69413 2017-09-11T09:49:36+01:00 2017-09-11T09:49:36+01:00 10 fascinating digital marketing stats we’ve seen this week Nikki Gilliland <h3>Searches for iPads increase 1.2x YoY</h3> <p>First up, <a href="http://www.hitwise.com/blog/2017/08/hot-back-school-products-age-student/?lang=1&amp;bis_prd=1" target="_blank">Hitwise has revealed</a> what parents have been searching for as their kids head back to school. </p> <p>Parents of children aged 6-11 have been searching for iPads, with online searches for iPad increasing 1.2 times overall year on year. For kids aged 12-17, branded apparel has been in demand, with searches for Gucci belts, Net backpacks and Yeezys by Kanye West all being popular.</p> <p>Lastly, interest in fashion has been much lower for college-age youngsters, while searches for technology such as Nintendo Switch, Apple Watch and HBO Now have been high.</p> <p><img src="https://assets.econsultancy.com/images/0008/8867/Hitwise.JPG" alt="" width="702" height="380"></p> <h3>More than half of Brits use an ad blocker</h3> <p>In a survey of over 2,000 UK adults, Affilinet has found that more than half of all respondents use an ad blocker while browsing the internet.</p> <p>When it comes to the reasons why, 61.5% say it’s because they find online ads annoying, 41.5% say it’s because they find ads intrusive, while 33.1% say it’s because the ads they used to see were irrelevant.</p> <p>Men are also slightly more likely to use an ad blocker than women, with 48.7% of women stating that they never use them compared to 42.5% of men.</p> <h3>39% of teen YouTube users say it has too many ads </h3> <p>A survey by Forrester Research has found that four in 10 teen users aged 12-17 say there are <a href="https://www.emarketer.com/Article/YouTubes-Teen-Viewers-Complain-of-Too-Many-Ads/1016436" target="_blank">too many ads</a> on YouTube. </p> <p>This is despite the fact that YouTube is accessed by more US teens than any other social platform, with 77% using it on a daily basis compared to 55% who use Facebook.</p> <p>Just 11% of teens think that there are too many ads on Instagram and Snapchat, perhaps proving that native ads are less disruptive than pre or mid-roll ads.</p> <p><img src="https://assets.econsultancy.com/images/0008/8871/iStock-458931653.jpg" alt="" width="700" height="438"></p> <h3>Brits abandoning £3.4bn in online shopping baskets due to device switching</h3> <p>A new report by <a href="http://www.newsroom.barclays.com/r/3514/_10_5bn_more_in_five_years___that_s_what_uk_retailers" target="_blank">Barclays</a> has revealed that £3.4bn worth of goods are left in online shopping baskets in the UK each year. This is said to be due to device switching, with consumers browsing on their mobile phones before changing to laptops to make the purchase.</p> <p>The report suggests that basket abandonment is also due to a lack of discount incentives and the desire for a variety of delivery options. 38% of consumers say discount codes and 56% say free deliveries would incentivise them to buy.</p> <p>By making online shopping more convenient, Barclays says that retailers could generate £10.5bn more within just five years.</p> <h3>44% of consumers will make a holiday purchase via a voice controlled device</h3> <p>A report by <a href="https://www.walkersands.com/The-Future-of-Retail-2017-Holiday-Report">Walker Sands</a> has predicted that purchases by voice-controlled devices are set to rise this holiday season.</p> <p>Currently, 24% of frequent online shoppers say they ‘often’ or ‘always’ purchase through a voice-controlled device like Amazon Echo. However, 44% of total survey respondents also say that they are ‘somewhat’ or ‘very likely’ to make a product purchase through a voice-controlled device in the next year.</p> <p>Meanwhile, the report also highlights the demand for same-day delivery services, with 66% of frequent online shoppers saying they have used Amazon Prime in the past year, and 39% saying same-day delivery would make them shop online even more.</p> <p><img src="https://assets.econsultancy.com/images/0008/8868/Voice_controlled_shopping.JPG" alt="" width="666" height="274"></p> <h3>Popularity of mobile payments is rising</h3> <p>A new survey by <a href="https://www.aciworldwide.com/news-and-events/press-releases/2017/september/mobile-payments-rise-in-popularity-reaching-tipping-point-in-some-countries" target="_blank">ACI Worldwide</a> has found that European and American consumers are increasingly embracing mobile payments.</p> <p>While just 6% of US consumers regularly used their mobile devices to make payments in 2014, this has now tripled to 17%. Similarly, 25% of Spanish consumers now use mobile wallets, as do 24% of Italian and 23% of Swedish consumers. </p> <p>Consumer confidence in mobile wallet security is also on the rise, with 37% of UK respondents saying they trust their bank to protect their personal information when paying via their smartphone.</p> <h3>37% of internet users watch Netflix each month</h3> <p><a href="http://blog.globalwebindex.net/chart-of-the-day/netflix-vs-amazon-prime-video-a-global-view/" target="_blank">GlobalWebIndex</a> has been looking into the user-share of both Netflix and Amazon, following on from the latter extending its introductory Prime Video offer across all global markets.</p> <p>It has found that 20% of internet users now use Amazon Prime Video each month, whether on their own account or via someone else’s. However, 37% of people say the same about Netflix.</p> <p>In terms of marketshare, Netflix boasts impressive usage in both Mexico and Brazil, while Amazon Prime reigns supreme in India.</p> <p><img src="https://assets.econsultancy.com/images/0008/8869/Netflix_vs_Amazon_Prime.JPG" alt="" width="632" height="664"></p> <h3>More than 60% of digital publishers auto-play half of video ads</h3> <p>Despite auto-play ads often being viewed as intrusive or annoying by consumers, <a href="http://www.marketingdive.com/news/mediaradar-61-of-publishers-autoplay-at-least-half-of-video-ads/504417/" target="_blank">MediaRadar</a> has found that 31% of publishers auto-start 75% or more of their on-site video ads. Meanwhile, 60% of publishers auto-play at least half.</p> <p>Small, regional, and B2B publishers have the highest instances of auto-play video ads. Similarly, websites that rely on programmatic advertising are also more likely to employ this type of ad.</p> <p><img src="https://assets.econsultancy.com/images/0008/8870/MediaRadar.JPG" alt="" width="685" height="346"></p> <h3>Consumers annoyed by disruptive ads</h3> <p style="font-weight: normal;">In other ad news, Inskin Media has been delving into the ad formats that users find the most annoying.</p> <p style="font-weight: normal;">Unsurprisingly, 28% of respondents cited pop-up ads as the most irritating mobile format, closely followed by 26% saying the same for ads that sit in the middle of the screen. 18% said that they are vexed by ads that delay the page loading.</p> <p style="font-weight: normal;">In contrast, ads that that move down the page alongside the content or sit at the top and bottom of the page were found to be much less annoying. In fact, the study also found that people are 134% more likely to remember ads that sit around content compared with the average mobile ad.</p> <h3>Brand activation revenues to reach $357bn this year</h3> <p>According to the <a href="http://www.ana.net/content/show/id/brand-activation-spend-2017" target="_blank">ANA</a> (Association of National Advertisers) and PQ Media, brand activation revenues will reach around $357bn in 2017.</p> <p>This is based on the fact that total marketing operator revenues from brand activation rose by 6.7% in 2016, with further growth now expected.</p> <p>Revenues in content marketing climbed 11.3% last year, while influencer marketing saw the second-highest growth rate, growing 8.7% to $49.1bn. Revenues from experiential marketing also jumped by 6.7% to $50.6bn.</p> tag:www.econsultancy.com,2008:BlogPost/69252 2017-07-14T14:04:40+01:00 2017-07-14T14:04:40+01:00 10 dazzling digital marketing stats from this week Nikki Gilliland <h3>Three in four shoppers browse elsewhere before making Prime Day purchases</h3> <p>Research from <a href="http://blog.bazaarvoice.com/2017/07/10/brands-retailers-seize-amazon-prime-day/" target="_blank">BazaarVoice</a> suggests that Prime Day shopping extends beyond Amazon, with 76% of people visiting other online retailers before making a purchase. 46% of consumers are said to visit Walmart, while 40% check Target. </p> <p>BazaarVoice also found that consumers tend to browse other retailers depending on product categories. For example, more than half of shoppers researching electronics brands will also visit Best Buy, while 49% turn to Lowe’s for researching outdoor items like hammocks or barbeques.</p> <h3>33% of consumers say they will erase personal data as GDPR comes into effect</h3> <p>A new survey by SAS suggests that nearly half of consumers plan to utilise their new rights over personal data in May 2018.</p> <p>In a poll of over 2,000 UK adults, 33% said they plan to exercise their right to remove personal data from retailers, while 33% will also ask for their data to stop being used for marketing purposes.</p> <p>17% of people said they will challenge automated decisions, and 24% will access the data that retailers hold on them.</p> <p><img src="https://assets.econsultancy.com/images/0008/7477/SAS_GDPR.JPG" alt="" width="780" height="298"></p> <h3>Prime Day is the biggest sales day of the year for Amazon so far</h3> <p>New data from Hitwise has revealed that there were 9.5m transactions processed on Amazon.com during Prime Day 2017 – making it the biggest sales day of the year so far. The day generated even more sales than last year, when Amazon processed 6.7m transactions.</p> <p>Altogether, Amazon.com accounted for 87% of all online transactions processed by the top 50 retailers on Prime Day – a day when one in every 10 visits to the site resulted in a purchase.</p> <h3>Companies experience digital performance problems once every five days</h3> <p>Research by <a href="https://www.dynatrace.com/digital-transformation-audit/" target="_blank">Dynatrace</a> suggests that organisations are encountering digital performance problems on average once every five days, with individuals across business and IT functions losing a quarter of their working lives fighting to address these problems.</p> <p>In a survey of 1,200 global IT and business professionals, 75% of respondents said they have low levels of confidence in their ability to resolve digital performance problems. 48% also stated these issues were directly hindering the success of digital transformation strategies in their organisations.</p> <p>Marketing professionals are said to lose 470 hours per year or nearly two hours every business day to addressing performance problems, while IT operations professionals lose 522 hours per year or over two hours every business day.</p> <p><img src="https://assets.econsultancy.com/images/0008/7475/Dynatrace.JPG" alt="" width="582" height="293"></p> <h3>Debit cards overtake cash payments in the UK</h3> <p>The latest <a href="https://brc.org.uk/news/2017/debit-cards-overtake-cash-to-become-number-one-payment-method-in-the-uk" target="_blank">Payments Survey</a> has revealed that debit card purchases have overtaken cash for the first time in the UK, with nearly £190bn being spent via this channel in 2016.</p> <p>Meanwhile, the share of cash transactions shrank 4.5% to account for 42.3%, leaving credit and charge cards to make up the remaining 11.4%. </p> <p>The use of contactless technology has contributed to the rise in card payments, with consumers increasingly using contactless to pay for smaller purchases. The average transaction value on cards declined from £30.53 in 2013 to £25.40 in 2016.</p> <p><img src="https://assets.econsultancy.com/images/0008/7474/Cash.JPG" alt="" width="740" height="513"></p> <h3>37% of online spend goes through Amazon</h3> <p>The success of this year’s Amazon Prime Day might be indication enough, but new research from <a href="https://info.salmon.com/amazon-king-of-jungle-research" target="_blank">Salmon</a> has also highlighted just how much the retailer dominates the ecommerce industry.</p> <p>In a survey of over 6,000 consumers across Europe and the US, Salmon found that 37% of all consumer spending goes through Amazon. This could rise, too, as 73% of consumers say they will increase their use of digital shopping channels in future.</p> <p>53% of survey respondents also said they would be more likely to buy through Prime than a retailer’s online store, while the majority of consumers feel that Amazon is ‘leading the way in digital retail’.</p> <p><img src="https://assets.econsultancy.com/images/0008/7478/Salmon.JPG" alt="" width="550" height="435"></p> <h3>Fresh grocery searches on the rise</h3> <p>From analysis of over 100m online searches in Q2, Criteo has discovered that searches for online groceries increased by 108% during the period of April to June 2017.</p> <p>With consumers relying on faster and more flexible delivery options, buying fresh produce online is becoming all the more convenient. Consequently, searches for milk, eggs and cheese all increased in the second quarter. Online searches for milk increased by 92% from the first three months of the year.</p> <h3>More than 50% of travellers look for inspiration during the planning process</h3> <p>A <a href="https://info.advertising.expedia.com/multi-national-travel-trends-in-the-tourism-industry" target="_blank">new study</a> by Expedia Media Solutions has uncovered the motivations and behaviours of travel consumers across eight countries including China, Australia and the UK.</p> <p>In all eight countries, at least 50% of travellers say they are often undecided on a destination close to booking, with most looking for help and inspiration during the planning process. More than 65% say they are influenced by informative content from travel or tourism brands.</p> <p>That being said, the research also found differences in the kind of marketing people respond to. While ads featuring deals are most likely to influence Americans, Canadians and Australians, Chinese travellers are prompted by ads with appealing imagery and informative content. Both French and German travellers place equal value on appealing deals and imagery.</p> <p><img src="https://assets.econsultancy.com/images/0008/7476/Expedia_Media_Solutions.JPG" alt="" width="780" height="363"> </p> <h3>Marketers struggling to localise content</h3> <p>According to research from the <a href="https://www.cmocouncil.org/authority-leadership/reports/328" target="_blank">CMO Council</a>, marketers are finding it difficult to localise content and tailor their output for individual media platforms.</p> <p>In a poll of 150 marketers, just 36.2% agreed they were performing well when it comes to translating creative strategies across all the necessary physical and digital touchpoints. Furthermore, just 32% believed they are succeeding in adapting branded content for different markets, audiences, and locations served by their companies around the world.</p> <p>47.7% of respondents stated that ‘localisation demands’ – e.g. language, cultural values and religion – were putting pressure on teams to deliver creative at scale. 43.9% also cited new digital formats and device types as a big challenge.</p> <h3>Emojis lose momentum as a marketing tactic</h3> <p>Research from 2016 showed that 95% of Brits were more likely to open an email if they contained emojis that juxtaposed the subject line. However, a new study by Mailjet suggests that emojis might be losing their effect.</p> <p>In a series of tests, Mailjet found open rates in the UK and the US rise by just 5% and 6% respectively when emojis accompanied the subject line.</p> <p>While the crying-with-laughter emoji was previously the most popular, Brits are now 33% less likely to open a message using the crying emoji than an email without it. The current overall best performer is the simple red heart emoji, being one of the few to generate a positive net result across all test regions with a 6% increase in open rate. </p> <p><img src="https://assets.econsultancy.com/images/0008/7479/emojis.jpg" alt="" width="540" height="540"></p> tag:www.econsultancy.com,2008:BlogPost/69132 2017-06-01T10:42:52+01:00 2017-06-01T10:42:52+01:00 How Cancer Research is using smart technology to drive fundraising Nikki Gilliland <p>So, what exactly is its aim? Here’s a bit more on Cancer Research’s scheme and why it could be a smart tactic for charities of all kinds.</p> <h3>Turning footfall into fundraising</h3> <p>In February, Cancer Research installed 10 smart benches in the boroughs of Islington and Lewisham to tie-in with World Cancer Day. However, it’s not a time-sensitive scheme, instead forming part of the charity’s fundraising campaign for 2017 – with more benches set to roll out as the year goes on.</p> <p>The locations have been specifically chosen for being high-footfall areas, meaning that the benches are highly visible to passers-by. </p> <p>Each one has integrated contactless technology so that people can donate £2 to the charity simply by tapping their debit card onto the bench.</p> <p><img src="https://assets.econsultancy.com/images/0008/6456/IMG_0376.JPG" alt="" width="500" height="666"></p> <p>This type of fundraising has proven to be hugely effective in the past, and in fact, Cancer Research has already used the same technology in store windows.</p> <p>For people who don’t carry any change – or deliberately avoid charity fundraisers (also known as ‘chuggers’ due to their occasionally pushy tactics) – the technology provides a quick and easy way to impulsively make a one-off donation.</p> <h3>Tapping into technology</h3> <p>The main difference with Cancer Research’s smart benches in comparison to the windows is that, this time, the scheme also taps into a consumer need.</p> <p>Each bench provides free WiFi as well as a mobile phone charging point – features that could prompt people to stop and sit down even if they do not realise there is a charitable link. That way, despite the benches being solar powered (and therefore free), consumers might naturally want to pay for the trade-off, with donations largely being prompted by the convenience or service they receive. </p> <p>The benches do more than just charge technology, also allowing people to discover current environmental conditions, such as noise level and air quality in the wider area.</p> <p><img src="https://assets.econsultancy.com/images/0008/6460/Smart_Benches_2.JPG" alt="" width="760" height="363"></p> <h3>Changing public perceptions</h3> <p>Another big benefit of the smart benches is that they are designed to be mutually beneficial. Not only do they help the charity raise money, but they also offer something of value to consumers, as well as enhance public spaces in London. While describing them as a 'place to rest and socialise' might be a bit of a stretch, everyone likes a nice sit-down don't they?</p> <p>As a result, the benches immediately serve as a point of difference, helping to change common perceptions about the role charities play in local communities. Instead of giving spare cash or conversely, raising money from huge fundraising events, it shows consumers that there are more accessible and innovative ways that they can donate. </p> <p>Like <a href="https://econsultancy.com/blog/68091-how-five-charities-are-innovating-with-contactless-payment-technology/" target="_blank">other examples of contactless fundraising</a>, the value for charities is just as much in the increased visibility (and different contexts), as it is in the monetary gain. Of course, the latter is a huge bonus, but like most marketing campaigns – it’s not the core aim.</p> <h3>Will other charities take heed?</h3> <p>While many charities have already adopted contactless fundraising, there are still barriers to mass adoption.</p> <p>Interestingly, Barclaycard recently led a trial of contactless donation boxes, partnering with a number of charities including the NSPCC and Barnardos to see whether it would lead to an uplift. While results suggest that it proved successful – with the average donation increasing from £1 to £3 – it’s unlikely that most of the charities involved will be able to afford to replace all their regular boxes with contactless ones in future.</p> <p><img src="https://assets.econsultancy.com/images/0008/6459/Barclaycard.JPG" alt="" width="760" height="328"></p> <p>Meanwhile, many charities still believe in the persuasion power of real people, which is lessened with standalone contactless technology. </p> <p>Having said that, it is clear that convenience is also a massive drive for consumers, and as examples like Cancer Research show – this means it’s a strategy that could be worth investing in.</p> <p><strong><em>Related reading:</em></strong></p> <ul> <li><em><a href="https://econsultancy.com/blog/67451-the-smartest-experiential-charity-marketing-campaign-you-ll-see-this-year/" target="_blank">The smartest experiential &amp; charity marketing campaign you'll see this year</a></em></li> <li><em><a href="https://econsultancy.com/blog/68781-five-ways-charities-can-encourage-more-online-donations/" target="_blank">Five ways charities can encourage more online donations</a></em></li> <li><em><a href="https://econsultancy.com/blog/66592-why-charities-need-true-digital-transformation/" target="_blank">Why charities need true digital transformation</a></em></li> </ul> tag:www.econsultancy.com,2008:BlogPost/69036 2017-04-27T10:52:19+01:00 2017-04-27T10:52:19+01:00 Six ways Aldo’s new mobile site streamlines the shopping experience Nikki Gilliland <p>Designed to make shopping more seamless across all channels, the mobile site in particular has got customer convenience in mind. Here are six features that deliver on the promise.</p> <h4>Prominent imagery and reviews</h4> <p>One major focus of Aldo’s redesign has been making it easier for mobile users to gain a more detailed view of the product – recognising that even in-store shoppers would like <a href="https://econsultancy.com/blog/9366-ecommerce-consumer-reviews-why-you-need-them-and-how-to-use-them/" target="_blank">customer reviews and ratings</a>.</p> <p>Reviews are now a prominent feature on all product pages, including information about general sizing, calf size and width. It even allows customers to give feedback on where or how they have worn the item – e.g. ‘wear it for prom or party’ – to give reviews much more depth.</p> <p><img src="https://assets.econsultancy.com/images/0008/5715/Product_pages_2.JPG" alt="" width="250"></p> <p>Alongside this, imagery is now at the forefront with photo galleries showcasing products from multiple angles. As well as giving a better view of the product, this also makes the mobile site look much more slick and polished.</p> <p><img src="https://assets.econsultancy.com/images/0008/5716/Product_pages.JPG" alt="" width="250"></p> <h4>Social tie-ins </h4> <p>Today, <a href="http://www.fourthsource.com/social-media/social-media-shopping-next-step-retail-21641" target="_blank">more than half of consumers</a> who follow a brand on social media say they do so to research products and find inspiration. In line with this changing user behaviour, Aldo has introduced user-generated content into its mobile site, with an Instagram feed embedded directly into the homepage.</p> <p>Not only does this draw on the <a href="https://econsultancy.com/blog/68409-four-key-trends-within-the-world-of-influencer-marketing/" target="_blank">power of influencers</a>, but it also helps to drive additional purchases, with the ‘Shop the look’ feature including multiple products in one image.</p> <p><img src="https://assets.econsultancy.com/images/0008/5717/Shop_the_Look.JPG" alt="" width="250"></p> <h4>In-store convenience</h4> <p>Recognising the fact that not everyone who browses online will want to checkout, the ‘Find a Store’ feature lets users locate the product to buy offline.</p> <p>Using geo-locational technology, it is super quick and easy to locate the store that’s nearest to you. With information on store opening times and an indication of how many items are in stock, it’s a highly effective way of driving offline conversions based on mobile interest. </p> <p><img src="https://assets.econsultancy.com/images/0008/5718/Find_a_store_2.JPG" alt="" width="250"></p> <h4>True-Fit technology</h4> <p>In a bid to <a href="https://econsultancy.com/blog/68477-how-six-online-retailers-are-combatting-wrong-size-returns/" target="_blank">reduce returns</a>, Aldo is another retailer to integrate True Fit – technology that helps customers find the right size.</p> <p><img src="https://assets.econsultancy.com/images/0008/5719/TrueFit_2.JPG" alt="" width="250"></p> <p>By asking users the brand and size of a shoe that fits them particularly well, it is then able to tell them whether an item will be true to size, or whether to scale up or down.</p> <p>According to research, 60% of consumers say that they would be willing to provide information like this if it meant they'd be guaranteed the perfect fit first time. When it comes to shopping on mobile in comparison to in person, this reassurance can massively increase the likelihood of a transaction.</p> <p><img src="https://assets.econsultancy.com/images/0008/5720/True_Fit_3.JPG" alt="" width="250"></p> <h4>Post-purchase tracking</h4> <p>Of course, the customer journey does not end after the point of purchase, which is nicely highlighted by Aldo’s easy tracking feature.</p> <p>Instead of hiding it within a help or customer service section, this is located towards the bottom of the landing page, with large font to catch the user’s attention.</p> <p><img src="https://assets.econsultancy.com/images/0008/5721/Easy_tracking.JPG" alt="" width="250"></p> <p>As well as being useful post-purchase, it is also likely to instil confidence in those in the early browsing stages, indicating that the brand is focused on delivering good customer service.</p> <h4>Simplified checkout  </h4> <p>Multiple forms or mandatory sign-ups are likely to increase <a href="https://econsultancy.com/blog/67120-12-ways-to-reduce-basket-abandonment-on-your-ecommerce-site/" target="_blank">basket abandonment rates</a>, and when it comes to mobile, customers have even less time for complicated processes.</p> <p>Aldo’s redesign has simplified this experience, giving users the option for a guest checkout as well as condensing everything into a single page.</p> <p><img src="https://assets.econsultancy.com/images/0008/5722/Checkout_2.JPG" alt="" width="250"></p> <p>Upfront delivery information and returns policies are also helpful for providing reassurance throughout the process, driving customers towards that all-important final purchase.</p> <p><em><strong>Related articles:</strong></em></p> <ul> <li><em><a href="https://econsultancy.com/blog/68465-eight-features-to-appreciate-on-fat-face-s-new-ecommerce-site/">Eight features to appreciate on Fat Face’s new ecommerce site</a></em></li> <li><em><a href="https://econsultancy.com/blog/66644-how-debenhams-site-redesign-led-to-ecommerce-sales-growth/" target="_blank">How Debenhams' site redesign led to ecommerce sales growth</a></em></li> </ul> tag:www.econsultancy.com,2008:BlogPost/68969 2017-04-07T12:00:00+01:00 2017-04-07T12:00:00+01:00 Four ways technology could impact restaurants in the future Nikki Gilliland <p>Today, <a href="https://pos.toasttab.com/restaurant-technology-industry-report" target="_blank">57% of consumers</a> agree that technology in restaurants improves their guest experience. And while we’ve already seen the introduction of apps and <a href="https://econsultancy.com/blog/68800-pizza-express-launches-booking-chatbot-is-it-any-good/" target="_blank">bots from restaurant chains</a>, this only marks the start of how technology might further impact the hospitality industry in years to come.</p> <p>Of course, it might not be such a smooth transition. Oracle’s <a href="https://www.traveldailynews.com/post/consumer-attitudes-on-emerging-technologies-and-their-impact-on-future-hospitality-experiences" target="_blank">Restaurant 2025</a> report suggests that consumers could find some tech a step too far, with 40% saying that being served by a robotic machine would feel invasive or strange.</p> <p>With this in mind, here’s a run down of a few examples of innovative restaurant technology that has already arrived, as well as how it could evolve in future.</p> <h3>Voice for payments and billing</h3> <p>According to Barclaycard, <a href="https://www.thecaterer.com/articles/369040/impatient-diners-want-fast-service-and-better-payment-technology-in-restaurants" target="_blank">37% of diners</a> prioritise quick service in restaurants over menu or value for money, meaning that convenient payment options are becoming increasingly popular.</p> <p>With many restaurants introducing apps that allow customers to order and pay without the need for a waiter, this demand is being met.</p> <p>Take <a href="https://econsultancy.com/blog/68889-wetherspoons-launches-order-and-pay-app-is-it-any-good" target="_blank">Wetherspoons’ Order and Pay</a>. This is a particularly interesting example, however, as it changes more than just the payment experience. Taking away the need for any social interaction at all, some have suggested it spells the end of traditional pub culture. A rather dramatic view, perhaps, especially when you consider how many other well-known chains, like Wahaca and Jamie’s Italian, are using similar technology.</p> <p>Meanwhile, other London restaurants like Rum Kitchen and Salt Yard are also incorporating bill-splitting apps, making payment even easier for big groups.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Click here to download our Order &amp; Pay app, available for iPhone and Android<a href="https://twitter.com/hashtag/OrderAndPay?src=hash">#OrderAndPay</a><a href="https://t.co/sN3tSWoS6s">https://t.co/sN3tSWoS6s</a></p> — J D Wetherspoon (@jdwtweet) <a href="https://twitter.com/jdwtweet/status/842013848987148290">March 15, 2017</a> </blockquote> <p>So how will this develop in future?</p> <p><a href="http://www.restaurantbusinessonline.com/news/starbucks-adopt-voice-recognition-ordering" target="_blank">Restaurant Business says</a> that voice could be the next step, reporting that several San Francisco-based eateries are already experimenting with a Google-supported system involving voice and facial recognition. Instead of asking for the bill and manually paying, all diners will need to say is “I’ll pay with Google” before being automatically charged. </p> <p>With suggestions that Starbucks and McDonalds are also introducing voice recognition into their apps in 2017, it could be here before you can say ‘happy meal’.</p> <h3>Staff using wearable technology</h3> <p>While smartwatches are most commonly used by consumers to track diet and fitness, we could see more restaurants utilising wearable tech in order to facilitate better customer service.</p> <p>Recently, Danny Meyer, the founder of Shake Shack, announced a partnership with Apple Watch that will integrate the technology into front-of-house service in a New York restaurant. Managers and sommeliers will constantly be alerted and informed via the watch, with information being sent about VIP guests, menu changes and complaints. </p> <p>In future, Oracle suggests that we could also see this technology infiltrating kitchens, with the Internet of Things enabling staff to ‘talk’ to appliances while they work.</p> <p><img src="https://assets.econsultancy.com/images/0008/5257/wearable.jpg" alt="" width="720" height="480"></p> <h3>Robot service</h3> <p>Robots taking over the world was once the storyline for every mediocre sci-fi movie, but it could now be the reality for the modern service industry at the very least.</p> <p>Self-service machines have overtaken humans in many restaurant chains, however this could also extend to the preparation and creation of food itself.</p> <p>Last year, Momentum Machines – a tech startup behind a fully autonomous burger-making machine - applied for a permit, indicating that it is to open a robot-only restaurant. While it’s hard to find any details on its progress or even if it's going ahead, this example shows that robots have the potential to replace both servers and chefs.</p> <p>With the prediction that <a href="http://uk.businessinsider.com/machines-may-replace-half-of-human-jobs-2016-2?r=US&amp;IR=T" target="_blank">50% of jobs</a> could be at risk from robots, it could also be a scary glimpse into the future.</p> <p><img src="https://assets.econsultancy.com/images/0008/5258/robot_waiters.JPG" alt="" width="760" height="560"></p> <h3>Virtual reality experiences</h3> <p>Lastly, while the likes of Heston Blumenthal has been experimenting with dining as a sensory experience for years, it’s now going beyond what’s on the actual plate, with virtual reality being used to transport diners to another place entirely.</p> <p>Samsung is one of the first tech brands to get on board, rolling out its Gear VR glasses to restaurants that want to create more than just a bog-standard meal.</p> <p><img src="https://assets.econsultancy.com/images/0008/5259/Samsung_VR.JPG" alt="" width="760" height="339"></p> <p>Even more mind-bending is Project Nourished, a New York-based tech company which builds solutions for ‘fine dining without concern for caloric intake or other health-related issue’. In other words, it uses tech to trick us into thinking we’re eating foods we're not.</p> <p>It’s as bonkers as it sounds. But what’s even crazier is that we can do this, yet we can’t make aeroplane food taste nice. </p> tag:www.econsultancy.com,2008:BlogPost/68891 2017-03-15T11:37:14+00:00 2017-03-15T11:37:14+00:00 Realising the potential of mobile analytics [infographic] Nikki Gilliland <p>According to research by Google and Econsultancy, leading marketers are 75% more likely than the mainstream to have moved to a more holistic model of measurement in the last two years. What’s more, leading marketers are 83% more likely to than their peers to include cross-device data. </p> <p>Of course, the latter doesn’t just mean looking at <em>what</em> consumers are buying, but taking into consideration all moments that matter in order to gain a complete view of the consumer journey. And more importantly: using it to inform decision-making.</p> <p>For further information on this, you can download Econsultancy’s <a href="https://econsultancy.com/reports/driving-growth-with-measurement-in-a-mobile-world/" target="_blank">Driving Growth with Measurement in a Mobile World</a> report, published in association with Google. You can also check out more related stats in the Google infographic below.</p> <p><a href="https://www.thinkwithgoogle.com/infographics/mobile-measurement-potential-drive-growth.html" target="_blank"><img src="https://assets.econsultancy.com/images/0008/4638/infographic.jpg" alt="" width="700" height="3297"></a></p>