First, there was the Commodity Commerce revolution: commodity products being sold online at very low prices. Think Amazon. Then the big-box stores like Walmart, Target, and BestBuy followed. But let’s face it, Amazon dominates this market. Thanks to “showrooming“, big-box stores are now in trouble.
Then came the Digital Commerce revolution: digital content products like news, books, music, television shows, and movies all being sold and distributed online in digital form. Think Apple and NetFlix… and Amazon. Newspaper agencies started closing down, along with brick-and-mortar video stores, book stores, and music stores.
“This is categories like furniture, home accessories, home textiles, fashion, art, and jewelry. These are categories where people care about having something special in their lives.”
And, according to Jason, this is one area where Amazon is not dominant, creating huge opportunities for startups that want to get into the online retail game.
These are the three principals that Jason believes make up Emotional Commerce:
- Exciting Merchandise: It’s not about owning a couch. It’s about owning a one of a kind couch.
- Amazing Shopping Experiences: It’s not about search-and-click shopping. It’s about fun and serendipitous discovery.
- Aspirational Brand Building: It’s not about owning a brand. It’s about being inspired a brand.
“Shopping can be and must be joyful in order to capture emotional purchases.”
Source Link: “The 3rd Wave of E-Commerce Disruption: Emotional Commerce“
Image Source: Chris Corwin