The Final Post

            Since January, I have been given the weekly assignment of writing my educated thoughts on a particular e-commerce subject that sparked my interest. What seemed like a task at first, was in fact a pleasure and something I very much looked forward to every Thursday evening. I have turned from relaxer to reader, from inattentive to in-the-know, and from bored to blogger. I have even garnered a small fan-base! There has certainly been no shortage of topics to write about this semester. While my classmates may have chosen telecommunications or online shopping, it is quite obvious that I have chosen technology and social media as the underlying theme for my weekly posts.

            E-commerce is all around us. Many of us are involved, using, or simply coming across it on a daily basis. Sure eBay and Amazon are the obvious examples, but it really does go deeper than that. When you think of the removal of the penny, what first comes to your mind? The rising price of copper, having to round prices to the nearest nickel, or even just a lighter pocket? Being an e-commerce student, I have been trained to think beyond those lines and ask questions such as: will retailers now adjust their prices so that (with tax) they will always be rounded up? And if so, how will retailers adapt their ERP systems to do this and how much will it cost? For the online shopper who purchases off of U.S based websites, have you thought about how your bank account will be charged for something that may be $19.98USD? We don’t live in a bubble here people, it is only Canada that has taken these measures.

            It is inevitable that certain aspects of the course are going to be technical, especially for someone who has never even heard about ARPANET, TCP/IP, or DRP before. The beauty about this is that once I understood how it works, I was then able to question technology and how it impacts me as the consumer, as well as the retailer. The significance of data recovery and disaster mitigation, the intricacy of cloud computing, and the importance of information security are all topics that have become so relevant with the emergence of the iWorld, the Google Wallet, and of course, social media. I truly believe there is nothing better than to be able to gain a considerable amount of relevant knowledge from a course, and this is what e-commerce has given me. Well, not to mention a full blown and unmanageable addiction to Pinterest as well.

            Make fun of me all you want for being a tech-geek, but the next time you post, pin, poke, or purchase, you will realize just how much e-commerce is integrated into your daily lives.

iLoveYou, but iLoveApple more

            Attention Americans, will you please put down your iPads [could be replaced with iPhones, iPods, or iMacs]! How is it that 50% of U.S households currently have at least one Apple device at home, while married couples only make up 48% of these households?! It’s ironic how I’m currently writing this blog post on my 13-inch MacBook, sporting the iconic white Apple earphones, as I listen to my iTunes library on repeat. I may be nowhere near marriage, but this begs the question in my mind … if I have 3 Apple products now, how many will I have when I’m older?

            Granted that 2% discrepancy may be small, but this just proves how attached we are as consumers to our iDevices! The research is out people, there is no turning back now (and I am certainly no exception to the stats). Steve Jobs left a legacy behind that is currently eating up the electronics market in the U.S, and no one can stop it.

            To be fair, even though I am the apparent norm these days with my 3 Apple products, I was still quite shocked to read this article due to the simple fact that Apple devices are not cheap! And yet 50% of American homes have AT LEAST 1 product. If you thought that was crazy, wait until you hear this. A (unscientific) study showed that 28% of iPhone users would legitimately rather go 1 week without seeing their significant other than giving up their iPhone.

            My friends will label me as the tech-nerd, I’ll admit, but this is still shocking news to me. We pay big bucks for our products and I believe we should cherish them; however, should we do so more than our loved ones? When did the computer replace companionship? 

Amazon Who?

            I’ll admit, I get most of my inspiration for these blog posts from The Huffington Post … and this post is no exception. Upon skimming through the ‘Tech’ section this morning I came across a title that read “Amazon will offer half-price gift cards Tuesday …”. I am in no need of purchasing books, but naturally the words “half-price” caught my attention. Tomorrow, Amazon is offering users a $10 gift card for $5 through its 9-month old subsidiary AmazonLocal. 

              Until this morning I had never even heard of AmazonLocal (which is pretty shocking considering I’m a tech/web-nerd), so I decided to read more about it. The website mimics the business plan of pioneering deal-of-the-day websites like Groupon and Living Social. I was rather shocked to think that Amazon.com would need to implement this type of promotion; however, once finishing the article it made perfect sense. Neither my library buddies nor myself had even heard of AmazonLocal, so what Amazon.com is doing proves that this promotional tactic is indeed effective. It takes one person like me to spread the word via WOM or even this blog post! Unfortunately the website only caters to the U.S (currently in over 90 cities and 26 states).

            Amazon sold a $10-for-$20 deal on Groupon and sold a whopping 1.4 million of the cards. But here is the catch – they did so only 1 month after launching the AmazonLocal website. Evidently this could indicate that awareness or sales were low. Now, we can assume that those shopping on AmazonLocal are either shoppers or are aware of Amazon.com, so it seems appropriate to also assume that the company will be able to sell a substantial amount of these $5-for-$10 cards.

            History has proven that launching these daily-deals can be extremely tricky (think ‘Facebook Deals’ back in August), but it is also a growing trend. I mean, who doesn’t love a deal? With this being said, Amazon is just going to have to find a way to offer these deals in a context that consumers can relate to, appreciate, or enjoy.

Tap, Pay, Save.

            I know it’s been a year and I’m totally passé, but the Google Wallet is still a buzzing topic to me. How awesome is the concept of replacing your fold-up wallet with a virtual one? Women no longer need to rummage through their totes, and men no longer need to sit lop-sided in their chairs!

            The benefits on this Android app are threefold: it’s a faster way to pay, a wallet you can lock, as well as saving made simple. By using Near Field Communication (NFC) payment technology, the wallet allows you to store multiple credit cards for you to make payments with. In addition, Google teamed up with MasterCard to offer a Google prepaid card if you forget to upload your own. The savings option is super efficient – there are Google offers at local businesses, where savings are automatically synced to your wallet and can be redeemed at a later date ... no more coupons or rebates to fill up space in your wallet!

            For those of you who tend to loose your phones often, don’t fret. The Google wallet now has 2 ways to secure your information – a lock within a lock, plus a pin to access your cards (not to mention all is encrypted and the account numbers never appeal on the phone screen). 

            No more looking for those Optimum or Tim Hortons cards, the Google wallet can store it all! All you need to do is tap your smart phone against one of the PayPass terminals at checkout. The beauty of e-commerce is finding ways to integrate networks and devices to offer the end-consumer a convenient service, and the Google wallet is just one example of this today. Considering my wallet is a solid 7 lbs. I think it’s time to maybe look into the Android …

Advertising That Follows You

           Do you ever have those days where you just don’t feel like flipping open your laptop or turning on your TV? Maybe twice a year do I isolate myself from the tech world – even though rare, it is extremely cathartic! I didn’t include cell phones in the mix because at the end of the day, if you wish to screen a call or ignore a text, you have the power to do so. Yes, there is that little bit of power we still have left! It’s not as invasive as a pop-up on your screen or commercials coming at you every 10 minutes. But what if I told you that those days were gone?

            Receiving advertisements to our smart phones isn’t necessarily foreign to us Canadians; however, we would normally have to be on a telemarketer’s list or accessing a website. Once again, technology has never ceased to amaze me! So it’s as simple as this – every time you walk by a convenience store you will automatically receive an ad to your smart phone offering you a promotion (you must be within roughly 300-feet of the store). Couche Tard is teaming up with iSign Media Solutions to offer this non-traditional mode advertising to its demographic. Convenience stores tend to be laggards in terms of marketing, so this is a great way for them to become innovative as well as competitive with other retail venues.

            Buzz will soon spread across Quebec about the dépanneur’s new initiative, but with only 4 out of 10 residents in this province owning a smart phone, it’ll still take time to realize. Some may argue that targeting real-time location is intrusive, but if I’m able to save a couple of bucks on my weekly supply of Redbulls, then I sure won’t complain! 

                                 (now you won't even need to activate your bluetooth)

          Get used to it people, we live in a time where marketers and innovators are capitalizing on any and every resource they can get their hands on to bring consumers in.

E la Carte

            As consumers, we constantly crave new and unique experiences. We all know that eating out at a restaurant can be quite mundane – we sit, we wait, we order, we wait some more, we eat, and once again we wait until we get the cheque. Thank God that there are pioneers, such as Rajat Suri, who are looking for new ways to deliver these experiences we fancy and go beyond the typical restaurant experience we are accustomed to.

            Some may call it the new casual dining experience, while I simply call it e-genius. My boyfriend (no not Pinterest, my real boyfriend) sent me a link for E la Carte. Granted I had heard of this new technology being implemented at iBurger in Montreal; however, I had yet to witness this forward way of dining myself. E la Carte has came up with the idea of leveraging the power of technology to make the hospitality industry more fun for consumers and more profitable for operators. Their current product is the Presto, an iPad-like tablet with a built-in credit card reader and adjustable stand.

            How it works: the iPad-like prototype offers you a virtual menu that lets you sift through the restaurant’s food/drink selection using a touch-screen interface, with photos of each item. There is also a games section and a tab for paying. Your menu options can be customized as you can type in personal instructions.

            The 3 perks that have made the Presto a hot commodity in restaurants today are:

1– Boost in check size (more tip, up-selling through appetizing photos)

2- Improve customer retention (easy-to-use technology, customer surveys)

3- Improve service (quick payment, retains customer order history, games).

            You’re probably asking yourself if waiters are out of jobs? Suri has made it clear that the Presto is supplementary to the dining experience. Not to mention, waiters prefer using the technology since they tend to receive up to 20% in tip! For those of you who prefer to whole “song-and-dance” of a white-cloth sit down dinner, then you should probably steer clear of E la Carte … but with technology upgrading before we can even blink twice it was simply inevitable that this day would come. And I welcome it with open arms, the tech-savvy geek that I am. Review of iBurger to come.

Facebook, meet my new boyfriend, Pinterest.

          What started off as research for my blog post has rapidly turned into not only my daily hobby, but a full-blown obsession. You can compare it to a boyfriend, really. I love it, I connect with it daily, and I certainly like to brag about it. This so called “new relationship” has officially taken over half of my spare time, and I have Pinterest to thank for it. If you haven’t heard about it, you likely will soon, but unfortunately, you’ll have to share it a few million other users as well.

          The website has raised over $37 million from some of Silicon Valley’s top angel investors and venture firms, not to mention its success has grown tenfold in the last 6 months. Subscriber statistics have increased over 3 million since last August; however, if you aren’t willing to make the commitment, you can simply visit the page. Pinterest garnered 11 million viewers last month alone!

          Need I say more? Yes, in fact I must because I haven’t even begun to explain what Pinterest is, I’ve simply just bragged about it for the last 2 minutes. You’ll see what I mean once you’ve tried it out yourselves!

          Pinterest is a website that allows it users to create virtual pinboards (aka online scrapbooks) to share coveted pictures, slogans, or projects to ones followers. These images become ‘pins’, allowing others to comment, ‘like’, or ‘repin’ them onto their own personal boards as one pleases. The open network, like Twitter, makes Pinterest one of the hottest new social media websites to date. I’m not going to give you more details since I truly believe you should all check it out yourselves! Even Mark Zuckerberg has joined Pinterest today, and is said to be more active than on his Google+ and Twitter page.

          Here is my Pinterest-page. You can label your boards as you wish, from "Things I Like" to "Food" to even a board just on cats (weird, I know, but people are doing it).

             Pinterest currently has no source of revenue; however, they do not want to alienate users by cluttering its homepage with banners ads and such. Companies are taking to Pinterest to create profiles in order to market their products in an authentic way. Users are also using Pinterest as a 3^rd party website to visit other web pages, making it that much more valuable to the consumer and the company.

Happy pinning everyone! But warning, it is addictive.

The Red Rivals

          We hear so much about Netflix – massive losses in the recent year, a great last quarter, share price suddenly increasing, maybe even filing for bankruptcy? The story seems to always be changing. With the demise of our beloved file sharing website Mega Upload (yes, I have finally come to terms with it), it is so evident how obsessed we are with the online streaming world! We can all agree that a successful business aims to create customer satisfaction, and with illegal streaming websites being shut down by the dozen, there is going to be a growing need for up-to-date content. Redbox and Verizon are coming onto the scene as a joint venture and are teaming up to cater to our need. More specifically, they are entering Netflix’s web-service territory. I sense that these red rivals are going to be at each other’s throats, but maybe not for long.

            For those of you who don’t know, Redbox is a physical DVD rental that allows you to take DVDs from their kiosks for the night. With Verizon on its side, the JV is looking to have an Internet-based streaming-and-download service. The future of these companies is bringing content to the web. Both Netflix and Redbox-Verizon offer affordable subscription services, accessible on the media devices they want (TV, laptop, tablet, smart phone). So the question is - who says that Redbox-Verizon is going to win this battle? Apparently it’s their content and technology. Netflix got it all wrong and is now considered the crappy streaming company that offers its subscribers B-class movies. Redbox-Verizon released an attractive mission statement: “Together, we are erasing old technology boundaries, freeing people to spontaneously enjoy the entertainment they want, whenever they choose, using the devices and media they prefer, at home or away”. Nowadays, consumers want current information, a wide variety of it, and are certainly unwilling to be patient for it. I don't believe that simply securing a show such as Mad Men will keep Netflix consumers subscribed. Redbox-Verizon is going to have to up their "game" to be bigger and better than its rival, by offering more TV series at a quicker release rate.

            Redbox and Verizon aren’t the only ones looking to take Netflix down. Companies such as Amazon, Hulu, and Dish Network/Blockbuster want to “unseat Netflix in the streaming space”. This makes me wonder … with such similar business models and a relatively large number of competitors in the streaming market, is the Redbox-Verizon joint venture going to live past the initial hype? Netflix was once the coolest service to hit our TV sets, but it has essentially only gone downhill from there. Who says the same won’t happen to the newest member of the online streaming market?

The IPO We've All Been Waiting For

           We all know Mark Zuckerberg as that modest entrepreneur who always wanted to keep Facebook, as well as his personal life, out of the public eye. People thought that he was selfish for not accepting an IPO offering of $100 million back in 2005, or even $15 billion in 2007. Zuckerberg must be having a nice ‘LOL’ moment as he potentially cashes in 7 times the amount he was offered just 5 years ago. With a valuation of $100 BILLION, this will be the largest IPO in U.S history! This my friends is not selfish, it is pure genius, and Mr. Zuckerberg would agree and take this to the bank (literally). 

            Facebook is currently not a massive e-commerce platform, but as it continues to expand, firms are seeing great potential to use it as one. I mean, it is the only social media site with 800 million active users; therefore, it is evident that much of its value stems from the fact that 1 out of every 8 people worldwide have a Facebook profile! Not to mention, the average user has 130 friends. It is with the click of a button that information can be easily shared across a network of people, or even across seas, and this is a priceless resource for companies to take advantage of.

            We all know that Facebook drives an immense amount of traffic related to its advertising and marketing power. But the question is, are users ready to click “buy” instead of “share”? Facebook tends to refer its users to third party websites by clicking on those hard-to-miss ads practically cluttering our home page. Now, imagine the convenience of being able to purchase directly on Facebook. Research shows that “people are 18 times more likely to buy directly in their News Feed than when clicking off to a separate website”. I think it’s time, as a tech-company valued at hundreds of billions, to capitalize on such an opportunity. Why wait around to see if consumers take to the idea of Facebook being a peer-to-peer marketplace (such as Craigslist) when they can easily make it happen themselves?

            Facebook showed us how to “like” and “poke”. I think that with its strong influence over many of us (and billions of $$$), it can perform market research and show us the expediency of making direct purchases via its webpage. Facebook is our present but it is also our future, and companies will get left behind if they don’t keep up with the growing e-commerce trend so many are taking part in today. 

Source: http://www.huffingtonpost.com/2012/01/27/facebook-file-ipo-february-1_n_1237010.html

Radioheadlines

            Last week was a sad one for all of us. Our beloved file sharing website, MegaVideo, was shut down. I’d say on average I spend approximately 5 hrs/week on this website catching up on my weekly shows. As a university student, it is extremely rare that I’m able to be in front of my TV at the designated time, and now I’m being penalized for this? OK maybe I’m being too dramatic since this is a piracy issue. I’ll dedicate my next blog to this subject, as it is too sensitive to discuss at the moment.

           

            Unfortunately streaming shows isn’t the only piracy that I take part in (don’t judge). I’ll admit that I download music off of torrents, but there are certain artists that I do support by purchasing their music off of iTunes. I have no problem paying a few bucks for certain artists that I like. Apparently there are others who feel the same way as me.

            Back in 2007, Radiohead made headlines once they released a statement saying that they were releasing their latest album, “In Rainbows”, as a pay-what-you-wish (PWYW) pricing strategy. They bypassed the traditional mode of distribution, which is normally through a production company, and offered direct downloads off of their website. Fans could literally pay whatever they wish. Some of you may be thinking that this could be wishful thinking for Radiohead; however, the group made more money with the PWYW strategy than any other album! Think about it. E-commerce allowed them to eliminate production, inventory, and shipping costs right off the bat. Not to mention, there must be a subconscious willingness to pay for something we aren’t actually being forced to pay for.

            Loyal fans on average paid $2.26 for the album. So even with the anonymity of purchasing online, people still willingly paid for music they could receive absolutely free. I don’t believe that the PWYW pricing approach can be profitable for everyone. There is a growing trend to capitalize on e-commerce as a way to conduct transactions, and Radiohead is certainly one party who took advantage of this.

Source:http://www.getelastic.com/name-your-own-price/

The Fysio Forum

          I am not the best ‘morning’ person, and I truly believe that every last minute of sleep counts. When my friend Pauline asked to meet for coffee before our 10am class, I wasn’t exactly keen on the plan, but figured I needed my daily dose of caffeine regardless. Our talk happened to be my inspiration for this blog, so I must give her some credit #thanksPauline.

          It’s that time of year where us U2/U3’s are concerned with our future and summer plans, so naturally I asked Pauline what she will be up to this summer. She told me she has an internship lined up at Pendragron, a London-based digital marketing firm. One of the projects they are currently working on is for a physiotherapy clinic, Pure Sports Medicine (PSM). They are at the forefront of injury treatment and prevention, with over 300 easy-to-follow exercises posted on their website. How innovative! This allows customers to not only have customized treatments, but can work on them from the comfort of their own home and as often (or as little) as they would like. The strategic online business model of PSM, in my opinion, is what will set them apart from industry competitors. Physiotherapists still offer their time at the clinic for more personal workouts; however, the company is working on bringing majority of their services online.

          We define e-Commerce as the ability to acquire goods and services through an electronic medium, and this is a prime example of such. Contrary to what you may think, this online B-2-C model does not act just like YouTube. It is a professional platform that shows stretches specifically tailored with the client in mind. Who would have thought that such a one-on-one service, like stretching a tight hamstring, could be primarily web-based? But I guess with Facebook reaching 1 billion users and the 3D camera entering the market in 2012, anything is possible!

Source: http://www.pendragonproductions.com/work/pure-sports-medicine

This is an i, i, iWorld.

           Some of those that I follow on twitter are TechCrunch, HuffPostBiz, and TED, so when asked to write a weekly blog post on the relevance of e-Business I thought it would be a no-brainer. However, after scanning my Twitter homepage, I realized how seldom I really choose to click and bookmark those articles, let alone those specifically related to e-Business. The beauty of this weekly task is that I am now more inclined to read about something that is tremendously relevant, especially as a Management student entering the workforce in a short few months.

            The idea for this blog post happened to be right at my fingertip. My paper cut fingertip to be exact. While starting a new chapter of my holiday read I happened to slice my finger and thought to myself “how easily could this have been avoided if I was reading an e-book”. Ironically, the book I was reading is Steve Jobs, so I couldn’t help but think of the iPad. I believe it is inarguable when I say that the iPad has completely changed the way business is done. I know I may sound passé considering the latest talks about digital wallets and apps such as Siri, but portable tablets are allowing us to stay productive, whenever and wherever. One example of an extraordinary app is ‘Fuze Meeting’, which allows for you to attend/host online meetings or share documents. One can even go as far as completing invoices, managing customers and databases – all of this while on the go. It’s functionality, portability, and usability makes it one of the hottest products on the market for today’s businesses. The innovative nature of the iPad has and will continue to change the way that we conduct business by incorporating e-commerce into the mix, making transactions more rapid, simple, and seamless.