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Over a year ago, I wrote a piece on trends driving CPG Commerce Growth that I feel needs to be revisited. The catalyst for circling back on this topic comes from a recent report published by Jumpstart related to the “CPG eCommerce Landscape." My primary theme in the original blogs was three-fold: sell direct, collaborate with retailers and sell via marketplaces. Those recommendations still hold, but Jumpstart’s report highlights through hard facts how CPG brands should optimize these recommendations. Bottomline, they highlighted CPG purchases online have grown 22% since 2017, but most of that growth occurred in 2018. Year-over-year growth in 2019 to date has slowed to around 3%. This pushes a strategy to balance CPG sales for D2C, through retailers, and marketplaces. Let’s give a little context first on what I recommended initially.
I started contemplating this after reading the article “After a First Date, Would Your B2B Website Get A Second?” by Laura Ramos, Principal B2B Analyst at Forrester. As a companion blog piece to the recent Forrester report, “B2B Websites Still Fail Our Customer Engagement Test,” she highlights that buyers and B2B Websites are just not finding the right match. In her article, she leverages common analogies between “first date” tips and B2B marketing best practices. This led me to take the same approach by looking at Reddit to see if I could find some additional “first date” synergies that would round this out to a “top ten” best practices list.
The leading B2B digital commerce solution, Insite Software releases new version of InsiteCommerce 4.5.0 with new features. The new features are of great interest to ecommerce users, delivering best-in-class experiences for everyone involved in the complex B2B buying cycle. Read my blog to learn more about this exciting new release.
Working collaboratively with New England Biolabs, XCentium proposed and built a comprehensive solution that using Sitecore and InsiteCommerce. The solution serves both public websites as well as B2B commerce, including B2B Commerce rich features such product recommendations and online account management. Solution features also include Salesforce integration and Master Data Management (MDM), enabling New England Biolabs to serve their customers proactively and efficiently. The results? New England Biolabs won the Life Sciences Industry Award for the Most Useful Website.
The advances that have happened in the eCommerce space are extreme. Back "in the day," we were talking about how channels were starting to blur as shoppers were using online, in-store and mobile interchangeably to make informed purchase decisions.
My favorite story told at roadshow stops I had previously attended. was a true tale about a woman who was sitting cross-leg on the floor in a department store in front of an endless aisle kiosk, looking at an order on her tablet, while she talked to a customer service representative on her mobile. The point being how all these touch points needed to provide her with a consistent experience.
Fast forward to the present and the stories now just seem so much simpler as customers expect this consistency as a given. The customer’s experience would be so much more difficult if it was not for the technology innovations to support “conversational commerce” developed in last few years: