The recent 2015 Next Generation of Commerce study from Acquity Group, looks at what the firm considers "untapped opportunities" for brands across nontraditional spaces. It says these opportunities cater to younger generations especially.
For one, it found that nearly half of consumers (45%) say recognizing a brand they often buy on multiple media channels, such as TV, social media and magazines, makes them more likely to shop from that brand next time they’re in a brick-and-mortar setting. It's 28% for online.
The study, which surveyed over 2,000 consumers in the U.S. about their habits and preferences surrounding digital entertainment, content, shopping, and services, also found that 3 in 5 consumers (59%) say they would be more likely to watch an online streaming TV series produced by a brand if that meant no commercials. 1 in 4 consumers indicated they are influenced by native ads in news outlets.
28% of consumers ages 18-22 and 32% ages 23-30 would switch retailers if offered the option to pay in social currency, such as engagement for discounts, it found. On the other hand, it also found that 60% of consumers believe they see too many ads. According to Acquity Group, this means brands should focus on "weaving their offerings into an appealing and relevant user experience."
Here's an infographic exploring the study's findings:
"Innovations across the media, social and fulfillment landscapes have allowed consumers of all ages to step into a new generation of commerce – one that prioritizes convenience, where time and quality of experience are highly valued and the shopping experience extends far beyond the traditional path to purchase," the firm says. "To compete, retailers must make research intuitive and delivery instantaneous. Brands must craft a consistent and creative digital narrative. Startups and established businesses alike must improve and innovate upon services from driving to home improvement."
You can find the study here.
Image via Acquity Group