March 22, 2022 | Authored by: Roy Barak
E-commerce is no passing fashion: 6 takeaways from eTail
After two years of Zoom, being able to attend in-person conferences is such a treat. There’s really no substitute for networking face to face. It’s the best way to gauge a true sense of the energy driving the industry right now – something that can be felt so much more strongly when the players are gathered together in the same room
That’s exactly how I felt recently, as I attended the 2022 eTail event in Palm Springs, with a focus on fashion retail. From listening, mingling, and catching up with colleagues and compatriots from the worlds of retail, commerce and technology, here are the takeaways I went home with:
- As we’ve noted before, there’s no such thing as just commerce anymore. E-commerce IS commerce, and it is now at the core of everyone’s retail strategy. It is no longer a question of a digital future – online retail is here and now. There is no escaping or denying it.
- Most companies have already begun the journey towards subscriptions. While the smaller startups are subscription-first, diving right into the e-commerce model, the larger brands are working out ways to weave their subscription strategy into an overall digital transformation. There is no right or wrong way to go about becoming a digital, subscription-based organization – as long as you get there in the end.
- I must admit, I came away from the event feeling astonished by the number of up-and-coming retailers with unique business models and offerings. It is truly amazing and inspiring to witness the original, innovative approaches in the next generation of retail. Exciting times we live in!
- Organizations are weighing the choice of best-of-breed vs. best-of-suite solutions. While some organizations started out with several different third-party e-commerce platforms held together with duct tape as they worked through the proof of concept and market validation phases, they now acknowledge that this is no longer good enough, and they are in need of a more robust and integrated solution to support growth.
- For many brands, managing CAC is high on the list of concerns. How to drive optimization of their acquisition activities and gain the maximum number of new customers at the best possible cost, is a key point of focus.
Interesting to note that the industry overall is not showing the same concern for LTV, although the seeds are there. As the subscription e-commerce model continues to dominate, there will be more focus on LTV as a key metric and indicator of revenue optimization.
And finally, on a more personal note, here’s another takeaway: if one is to attend a conference focused on fashion retail, it’s a great opportunity to consider upgrading the wardrobe. Especially after so many months of Zoom meetings and work from home!
Looking forward to meeting up with our friends and partners in the industry at future events.
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