iQwaldo Attends NRF 2012 Breakout Session Today

Marketing Strategy Online: Trends and Implications Every Executive Should Know

Sunday's opening session at NRF was an eye opener for even seasoned online companies. 

Panel consisted of:
Brian Tilzer, VP E-Commerce for Staples
Steven Dee, CIO from
Pram Bhatt, VP E-Commerce for Kenneth Cole

Some stats from the session:

  • 8% of retail transactions happen online but 40% of transactions are influenced online.
  • The world is on sale -- offers range but all offer a percentage of savings by buying online. Very difficult to compete with that.
  • Price transparency online. No boundaries: 81% of Google's traffic comes from international users.
  • The lure is low prices, free shipping, better selection etc. –- threatening Walmart’s claim of being the “Low Price Leader.”
  • 33% of consumers use Google to compare prices. The connections people have (via Facebook, Twitter, etc.) are influencing how people shop and make purchases. 

Social networking: There are more people using Social Networking now, than were on the entire web in 2006.  Face Book is approaching 1billion users and 50% of users log in at least once per day. 

  • Linkedin: 135 million users
  • Twitter: 100 million users
  • Google+: 65 million users
  • In 2011, Facebook delivered 7.7% of Amazon's traffic. 150 million users engage with Facebook every month from other sites, from likes etc.
  • TripAdvisor aligns with FaceBook so one can see where friends have checked-in or visited. 

Take home message: The fundamentals have not changed. Retailers must offer, price, a value proposition and a competitive landscape.

Follow Ken (a.k.a. iQwaldo) on Twitter, as he attends various wireless events throughout the year.

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