Eight consumer insights that could underpin strategies in 2021
1. 2021A YEAR FOR MORE REALITY
A round-up of eight consumer insights that
could underpin strategies in 2021.
by
2. AN EVOLVED CUSTOMER
EXPERIENCE
Digital needs to bridge the gap for
2021: A YEAR FOR MORE REALITY
DIGITAL NEEDS TO BRIDGE THE GAP FOR AN EVOLVED CUSTOMER EXPERIENCE
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3. 2021: A YEAR FOR MORE REALITY
DIGITAL NEEDS TO BRIDGE THE GAP FOR AN EVOLVED CUSTOMER EXPERIENCE
During COVID-19, many of the tangible customer
experiences which helped to differentiate brands were
lost, leaving businesses to adapt, innovate and transform
their online presence. Unlocking the future of retail means
a focus on creating innovative digital experiences
that make shopping easier and recreating in-store
experiences for the post-pandemic world.
In the year ahead, it will be essential to bridge the sensory
gap between online and offline to allow customers to try
before they buy in 360-degree realistic experiences.
In 2021, we will continue to see e-commerce reimagine
the online customer experience with social media at
the core. The nature of social revolves around enabling
discovery, connection and providing entertainment
– elements that customers are currently missing out
on. We expect to see brands further position channels
and formats as virtual showrooms and use immersive
technology such as Unreal Engine to enable customers
to see, touch and interact with their next purchase.
AN EVOLVED CUSTOMER
EXPERIENCE
Digital needs to bridge the gap for
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COLLECTIVE’S OUTLOOK:
Source: Try it. Trust it. Buy it. - Accenture, Rebooting Retail – McKinsey & Company, Adapting to the Next Normal in Retail – Mckinsey & Company
5. 2021: A YEAR FOR MORE REALITY
WHAT IF YOUR ONLINE STORE COULD BECOME YOUR FLAGSHIP?
• Shoppers recognise the potential value more immersive
ways to browse, with 57% saying they want help
visualising how products would look in their environments
• Which equals on average a 21% higher revenue
per visit and a 13% lift in average order size
• 1 in 5 consumers also told comScore the inability to see
and compare product details on small screens stopped
them from ordering
Thought: We’ll strive for normality in 2021 but the growing
demand for enhanced digital commerce will be omnipresent.
Build it into your strategy for a real competitive advantage.
COULD BECOME
YOUR FLAGSHIP?
What if your online store
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Source: Think With Google / Vertebrae
6. 2021: A YEAR FOR MORE REALITY
IN INFLUENCE
A shift
2021: A YEAR FOR MORE REALITY
A NEW WAVE OF INFLUENCER
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7. Consumers are being more selective about who they
follow, as they look to protect their mental health by
engaging with people who share an authentic and relatable
portrayal of their lives. Driven by an increase of people
looking to social as a platform for both education and
entertainment, influencers using channels such as TikTok
and Instagram have shifted their approach to offer more
tangible value in-feed – whether it’s sharing knowledge or
simplifying global issues.
The new wave of influencers need to prove that they
are worth a place in the feed as authenticity will
be a theme which spills into photo editing, honest
captions and community-led content. Brands will
need to ensure that influencers align with their core
values and beliefs and tap into expert voices which
can build trust. Heading into 2021, businesses
should also evaluate internal experts who can
strengthen brand authority.
WAVE OF
INFLUENCER
A new
3 COLLECTIVE’S OUTLOOK:
2021: A YEAR FOR MORE REALITY
A NEW WAVE OF INFLUENCER
Source: How Will the Influence Sector Change in 2021 – The Drum, Think Forward 2021: The Social Reset – We Are Social
8. DISCOVERY IN THE
RETAIL WORLD
Livestreams increase
2021: A YEAR FOR MORE REALITY
LIVESTREAMS WILL SUPPORT E-COMMERCE 2.0
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9. The arrival of lockdown has changed the e-commerce
landscape, and the increased activity will stick heading into
2021. As consumers have a heightened expectation of
brands to provide immersive and entertaining experiences,
livestreams have emerged as a way to bring back some
of the fun in the buying process and create personalised
store fronts – allowing shoppers to get even closer to
products in the digital world.
49% of consumers plan to shop online more often once
the pandemic is over, and for those looking to fill the
void of shopping in store, livestreams are a key format
to engage communities and build shopping confidence –
helping to enhance the online shopping experience.
SUPPORT
E-COMMERCE 2.0
Livestreams will
4 COLLECTIVE’S OUTLOOK:
2021: A YEAR FOR MORE REALITY
LIVESTREAMS WILL SUPPORT E-COMMERCE 2.0
Source: How Livestreams will Support E-commerce – GlobalWebIndex, The Digital Store front – WARC
11. The distinctions between ‘young’ and ‘old’ have shifted
and have taken a step towards becoming less relevant as
this year has seen increased engagement from Gen X and
Boomers. Over a quarter of baby boomers are spending
even longer on social media to research brands, discover
new products and make online purchases as a result of the
pandemic.
Post-lockdown, spikes of engagement have continued to
flourish amongst older groups who are doing more than just
browsing Facebook or Amazon. 70% of internet users aged
55-64 say they’ve bought something online in the past
month and 37% are planning to continue doing so more
frequently when the pandemic is over.
In 2021, older generations will rediscover their
relevance.
With only 5% of older groups in Europe saying
that they feel represented in advertising they see;
marketers should use smart segmentation and
thoughtful representation to tap into a generation of
vocal advocates with purchasing power.
ON SOCIAL
Boomers bloom
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COLLECTIVE’S OUTLOOK:
2021: A YEAR FOR MORE REALITY
BOOMERS BLOOM ON SOCIAL
Source: Social Trends 2021 – HootSuite
12. 2021: A YEAR FOR MORE REALITY
ON SOCIAL
Boomers bloom
2021: A YEAR FOR MORE REALITY
SOCIAL GETS CLOSER TO A TRUE SALES CHANNEL
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A TRUE SALES
CHANNEL
Social gets closer to
13. Growth is on the cards for the future of social commerce.
In 2020, we saw a partnership between TikTok and Shopify,
the introduction of Facebook Shops and an opportunity
to sell products live on Instagram Stories – signalling
that making the social shopping experience easier for
consumers is fast-becoming a priority for businesses.
As digital platforms continue to expand commerce
and shoppable ad features, it will become essential for
marketers to embrace these tactics to turn inspiration into
incremental revenue.
In 2021, we can expect social commerce to become
an integral part of the e-commerce experience,
as brands recognise the growing opportunity and
embrace the conversion model to convert consumers
who are spending more time on social channels to
discover, browse and shop new products.
A TRUE SALES
CHANNEL
Social gets closer to
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COLLECTIVE’S OUTLOOK:
2021: A YEAR FOR MORE REALITY
SOCIAL GETS CLOSER TO A TRUE SALES CHANNEL
Source: Social Media Trends in 2021 - Econsultancy, 10 Innovative Retail Trends to Watch in 2021 – Tinuiti, Tips and Tricks for Effective Social Commerce in 2021 – AdEspresso
14. 2021: A YEAR FOR MORE REALITY
Massimiliano Tirocchi, CMO and co-founder, Shapermint,
sees a shift in social media:
Social media will become a top channel for purchase,
instead of just discovery.
Social media platforms like Facebook are making it easier for consumers to go
from discovery to purchase without ever having to leave the platform, creating
a simple and seamless path to purchase. With social commerce continuing to
grow into 2021, retail brands will have to adapt to these platforms with new
rules, similar to what many did with Amazon.
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15. 2021: A YEAR FOR MORE REALITY
COLLABORATIVE FORMS OF CONTENT SPARK
COMMUNAL CREATIVITY
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COMMUNAL CREATIVITY
Remix culture sparks
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16. Art, popular culture and our own experiences are inspiring
the content we find on social, as the feed becomes a place
for co-creation thanks to innovative formats and in-built
tools which encourage collaboration between brands,
creators and influencers.
The trend is being driven by audiences inspired by the
challenge to remix content and create something new and
an opportunity to co-create with the people they admire
most. A spike in engagement with TikTok’s duet feature
was a tipping point for fans this year, as the platform fuels
creativity with options to repurpose audio and visuals to
participate in challenges or invent content around trending
themes.
We’ll continue to see major platforms follow the
success of TikTok to evolve their tools to encourage
communal creativity. Instagram Reels closely mirrors
the creativity of TikTok, and the format is tipped to
add new editing tools and collaboration options to
improve content virality in 2021. As the quality of
user-generated-content increases, brands should
look for ways to facilitate creativity within their
social communities.
COMMUNAL
CREATIVITY7
COLLECTIVE’S OUTLOOK:
Collaborative forms of content spark
2021: A YEAR FOR MORE REALITY
COLLABORATIVE FORMS OF CONTENT SPARK
COMMUNAL CREATIVITY
Source: Think Forward 2021: The Social Reset – We Are Social, 2021 Social Media Trends - TalkWalker
17. 2021: A YEAR FOR MORE REALITY
A GROWING
CHALLENGE8
All brands are facing
Online
Physical
Browsing
Touch
Brand loyalty
Offline
Digital
Transactions
Click
Willingness
to switch
VS
Mind the gap:
The divide in CX
2021: A YEAR FOR MORE REALITY
ALL BRANDS ARE FACING A GROWING CHALLENGE
18. 2021: A YEAR FOR MORE REALITY2021: A YEAR FOR MORE REALITY
THE SOLUTION?
IMMERSIVE COMMERCE
THE FUTURE OF COMMERCE
Bridging the ever-growing experience gap
between online and offline purchases closer together.
The solution as we see it:
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19. 2021: A YEAR FOR MORE REALITY
It’s time to open the door
ON A NEW WAVE
OF COMMERCE
Digital commerce has yet to replicate a key aspect
of the in-store experience. In stores, consumers
can touch and try products before buying them.
These interactions help people determine the
quality, craftsmanship, dimensions and fit to know
if a product meets their needs and expectations.
IT’S TIME TO OPEN THE DOOR ON A NEW WAVE OF COMMERCE
That’s why in 2021 we’ll be
launching a new service:
COLLECTIVE iCOMMERCE
a new digital experience that increases
customer trust and purchase intent,
without requiring drastic changes in
infrastructure.
COLLECTIVE’S OUTLOOK:
20. THANK
YOU.Would you like to discuss your 2021 strategy or to
request a demo of our iCommerce solution?
Get in touch.
Chris Shadrick | Strategy Partner
chris.shadrick@collectivelondon.com
If you are a marketer, macro trends aren’t your
problem and you should ignore them.
– Seth Godin, author and entrepreneur.“
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