Module: Selection: new paradigm of choice

“Thus, in the future, instead of buying bananas in a grocery store, you could go pick them off a tree in a virtual jungle.” –Yasuhiro Fukushima

 

We all know the feeling of sheer overwhelm that sweeps over us when we must choose between all the vast different types of teas, laundry detergents or cookies. That very same feeling washes over us when we go online to find a hotel, washing machine or insurance policy.

 

In this chapter, our first outline will be the paradox so many onlife consumers face: they love having options, but they quickly get lost in the humongous number of them. Next, we will delve into the various ways onlife consumers complete the selection process: by rote, comparison, research or on impulse. After that, we aim to determine the conditions retailers must meet — that is, if they want the onlife consumer to choose them. What instruments are retailers utilizing, based on the type of shopper, to convince the consumer to buy? What are shopping ecosystems, web stores and physical stores doing to help consumers during the process of selection? We will then round off the chapter with an introduction of the new paradigm of choice: onlife consumers want to choose from an infinite number of options presented to them in a way that resonates personally.

 

Topics in this module:

  • Paradox of choice or paradise of choice?
  • Choosing by rote
    • New food concepts
  • Comparing, then choosing
    • Choosing online, buying in-store and vice versa
    • You choose, you buy
    • Choosing after research
  • Choosing on impulse
  • Where do onlife consumers buy?
  • How do onlife consumers buy?
    • How shopping ecosystems aid the selection process
    • How physical stores aid the selection process
  • The new paradigm of choice

Target group: Manager

Module level: Starter

Version | 13 - 08 - 2018

Part of course: Ecommerce Strategy (ECON2)

Topics in this module: Artificial Intelligence and Retail, Content Marketing, Data Feed Management, Dynamic Pricing, Ecommerce Strategy, Market Places, Online Marketing, Online Marketing Plan, Online Merchandising, Personalization, The New Store
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