The magic moment in commerce is when the customer sees it – and wants to buy it. The moment of inspiration when if that “buy button” is near enough at hand, the customer is going to convert. Sounds simple – but it’s not always easy to pull off. Inspiring a customer is not easy work to start with, and sometimes those charged with protecting consumer interests get a weirdly upside-down perspective on the issue – and they start giving consumers what they think they should want instead of what they actually do want. Sometimes it’s about inventing a new, more digital experience for customers to want. And sometimes it’s about knowing one’s customer base and integrating for the future to avoid the risk of being stuck in the past.
Data
$2.19 billion: Valuation attached to China’s Baby Tree platform after Alibaba’s investment.
$2 billion: The amount of deposits Canada’s first digital bank EQ has taken in since its founding in 2016.
$1 million: What a NYC taxi medallion cost in 2015. Today, they auction for around $175,000.
51 percent: Share of millennials who are more willing to purchase from brands that offer a strong mobile experience.
.25 percent: Share of Overstock.com’s sales that are actually done in bitcoin (or another cryptocurrency).
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