In this episode of Yottaa’s Retail Tech Talks, Yottaa’s Chief Product Officer Darin Archer shares his perspective on the market dynamics that have led to tech bloat for online retailers.
Video Transcript
:01 – If you think about where we’ve come with the digital channel and the shopping experience, there are a lot of bells and whistles on all of your shopping storefronts that help. They help the customer experience, and help the customers find the products they’re looking for.
:17 – But now, many of you are also looking at it from the perspective of a hoarders closet and thinking, are all these things still working, are they all adding value?
:25 – Five, ten years ago it really wasn’t a part of the discussion. We were looking at any opportunity we could find to increase average order value or help with conversion rates with cart abandonment, etc.
:37 – But the market has changed a lot. Now I think every company needs to be focused on efficiency, making sure that the channel’s performing in a commercially viable way. It’s getting harder – the cost to acquire customers, and the cost of advertising have gone up.
:50 – And in many cases we’re all fighting a consumer that’s still trying to figure out where to put their dollar and what’s important to them right now as they head into the shopping season of the year.
