While change and novelty seem enticing, the relevance and effectiveness of technology investments make all the difference in establishing a lasting benchmark in the market.
To react to this forum and discuss directly with the Madagence teams on the technological choices of the retail, come and meet them on Tech for Retail show November 28 and 29 in Paris.
As the pace of digital transformation intensifies, it’s healthy to step aside. The possibilities for innovation are so vast that they can overwhelm the time and money of e-merchants. If change and novelty allow you to be protagonists for a moment, the relevance and efficiency of technological investments make the difference in establishing a lasting reference on the market.
Innovation must first be synonymous with investment through a serious and non-bling-bling approach, with simple features that significantly improve the customer experience. For instance :
- different delivery methods for each item added to the cart, in a single order;
- grouped orders so that you receive everything in a single shipment and a single package;
- B2B online supply to its commercial partners (wholesalers, retailers, etc.).
These options seem obvious and generally don’t show a merchant’s ability to innovate. They are therefore not favored by either marketing campaigns or the media.
Too little offered by online merchants, while essential, such features nevertheless need to be mastered before hoping to step further up in innovation.
Separate the superfluous and the super vague
NFT, metaverse, blockchain… These buzzwords circulate a lot in the world of technology and innovation. Before launching into the exploitation of these complex techniques with phenomenal application potential, the first thing to do is to know how to best use traditional exchanges. AI must come after the fundamentals of e-commerce.
The success of these technologies is often based on a consistent long-term business and technology strategy. They require a substantial investment and high risk-taking, anticipating market and customer needs.
Poorly calibrated, this strategy will cause significant economic waste, sometimes fatal to a company, by reducing the enthusiasm of general management, which has demanded too ambitious results from CIOs and business teams. Early investments in these fads, to the detriment of consolidating the foundations of e-commerce, will very often not be profitable.
A solid foundation as a suitable stepping stone
Conversely, other buzzwords such as OMS (Order Management System), market mechanics, data, headless are buzzwords but still vague for many. Yet it is through these terms that innovation in the e-commerce industry must first infuse.
The associated technologies are now mature and use cases proven. The teams will be much better able to understand them and carry out the intended project.
Order orchestration, market architecture development, headless approaches, B2B2C and B2B2B e-commerce can multiply the business potential of a manufacturer or distributor. These notions make the difference because they allow you to build a solid foundation to move to the next level of innovation.
The best way to protect yourself from risky investments due to technological fads is to compare yourself with what is being done on the market, analyze existing solutions, in order to precisely meet the needs of your business model. .