Businesses Online Shopping and Consumers Disagree

businesses online shopping and consumers disagree

Storyblok, the content management system (CMS) category leader that empowers both developers and content teams to create better content experiences across all digital channels, released research which reveals that many businesses misunderstand what consumers want out of online shopping.

The survey of 6,000 consumers and 500 business leaders at medium-sized e-commerce companies across the US and Europe shows 77% of companies believe features such as chatbots enhance the customer experience, whereas only 27% of consumers agree.

When asked what the three most important factors are in the online experience, 65% of consumers said ease of navigation, 50% said visual appeal, and 45% said simple design. In contrast, only 28% of businesses cited improving the design of their website as a priority, and 43% said they would add more features. 52% of businesses said they would add more payment options, but this was less of an issue for consumers with only 37% citing limited payment options as a reason to abandon a purchase.

Consumers and businesses agree that fast loading speeds are critical. 42% of consumers said they decide whether to stay on or leave a website within 10 seconds - 20% within 5 seconds. 47% of businesses said improving their website loading time was a top priority.

Previous research by Storyblok underlines the importance of businesses understanding the priorities of their customers. Storyblok revealed that 60% of consumers regularly abandon purchases due to poor website user experience, with businesses estimating it costs, on average, $72,000 in lost sales per year.

Dominik Angerer, CEO and Co-Founder of Storyblok, said: "There's a lot of enthusiasm from businesses for more website features, but this is not shared by consumers - at least not yet. It's important for businesses to continually ask themselves if the features they add to their websites really do enhance the customer experience. More is not always better, and what our research clearly shows is that businesses cannot lose sight of the fundamentals of good design, clear navigation, and fast loading speeds."

Looking ahead, 28% of business leaders said they believe AR/VR experiences are the most important trend in marketing, followed by AI-generated content (22%), personalization (20%), and automation (11%). Consumers are slightly more skeptical about the impact of AR/VR with 42% stating it would encourage them to make a purchase and 21% saying they didn't know. Americans were more enthusiastic with 57% agreeing it would encourage them to make a purchase compared to 32% in the UK.

Other key points:

- Storyblok survey of 6,000 consumers and 500 business leaders reveals large divide between what e-commerce businesses think consumers want and what they actually need

- 65% of consumers think ease of navigation is the most important factor in website user experience - only 28% of businesses cite improving website design as a priority

- 77% of businesses say chatbots enhance the customer experience - only 27% of consumers see a benefit

- Consumers and businesses agree that more payment methods and faster loading speeds are key to stopping purchases from being abandoned

- American consumers and businesses believe AR/VR is the future of retail - Europeans are more skeptical

Most Decorated Companies in America

most decorated companies in america

America’s business landscape has changed dramatically in the last decade. The companies that have risen to the top have delivered quality products, services, and experiences to their customers. The companies have been recognized for their excellence, earning a place among the most decorated companies in America. From tech giants to retail chains, these companies have proved to be leaders in their respective industries. Thanks to their innovative approach and strong leadership, they are among the most successful and respected companies in the US.

America’s top companies have been significant players in the country’s business landscape for years. In the last few years, they’ve made a leap forward. They’ve identified and capitalized on emerging trends in the market and leveraged their expertise in their respective industry to boost their bottom line. This has allowed many companies to invest more heavily in research and development. Ultimately, it has resulted in the launch of a number of innovative products and services worldwide.

Aside from their impressive financial performance, America’s top companies have earned praise for their corporate social responsibility initiatives. They’ve committed to sustainability, supported communities, and championed diversity and inclusion in the workplace. These efforts have seen the entities recognized with numerous awards, including the prestigious Business of the Year Award. With their continued commitment to excellence and innovation, there's no doubt the company will continue to be a market leader in their respective businesses. Most of these companies have made a significant impact on the national economy, employment and the environment. They have created jobs and invested in training, research and development. They have embraced the latest technology, investing heavily in the development of new products that make life easier and more efficient for people.

Some top companies have been recognized for their commitment to sustainability; they have developed partnerships with renewable energy providers, energy conservation groups and environmental advocacy organizations. The companies have been praised for their commitment to supporting the communities they serve. They have won accolades for their dedication to reducing their carbon footprint. The top companies have led the way in corporate responsibility. They are an excellent example to other companies- many are beginning to follow their lead. The companies have received numerous awards for their commitment to corporate social responsibility.

Here are some of America’s most decorated companies:

Amazon: Amazon's meteoric rise to become one of the most decorated companies in America has been nothing short of remarkable. Since its humble beginnings in 1994 as an online bookstore in 1994, the company has grown to become a juggernaut in the retail and technology industries. With its expansive product catalogue, expansive logistics network, and customer-centric approach to business, Amazon has steadily earned an admirable reputation- it's among the most decorated companies in America.

Apple: Apple is another of America's most decorated companies. The iconic tech giant has been at the forefront of innovation and design for decades. Apple has continued to evolve and innovate its products to meet the customer's changing needs. From the introduction of the iPhone, iPad, and Apple Watch to the successful launches of the MacBook and Apple TV, Apple has consistently delivered cutting-edge products that have reshaped the technology landscape.

Google: Google is one of the most decorated companies in America, thanks largely to its incredible success in the search engine market. The search giant has become a dominant force in the tech industry thanks to its innovative algorithms and search results, as well as its expansive suite of products and services. From Google Maps and Google Docs to its Android operating system, Google has earned a coveted place among the most decorated companies in America. Then there is Tesla: Tesla has been one of the most decorated companies in America in the last decade, thanks to its revolutionary electric vehicle technology. The company's cars have become synonymous with luxury and performance. Tesla’s commitment to sustainability has earned it a place among the most decorated companies in America.

Walmart: Walmart has always been among America’s stellar companies, thanks to its impressive expansion into the retail industry. The company's network of stores has allowed it to become the largest retailer. Walmart’s commitment to customer service and quality products has earned it accolades among the most decorated companies. These were some of America's best-performing companies in 2022. Each has shown a commitment to excellence and innovation. As the business landscape continues to evolve, these companies are likely to remain there- at the top of the pile.

Lippe Taylor Group Promotes Tracy Naden to President

lippe taylor group promotes tracy naden to president

Lippe Taylor Group (LTG), the New York-based Frictionless Marketing™ agency, announced a company-wide transformation that puts integrated client portfolios in the center, with twelvenote president, Tracy Naden, being elevated to North America President across Lippe Taylor Group, including both of its agencies, Lippe Taylor and twelvenote.

The announcement comes shortly after Lippe Taylor Group, which has been named PRWeek's Most Outstanding Midsize Agency for the past two years, was also named overall Midsize Agency of the Year (Silver) and Best PR Agency of the year (Gold) by the prestigious Medical Marketing & Media outlet (MM&M).

"In 2022 we passed the $50M revenue mark, capping off 5 consecutive years of double-digit growth," says agency CEO, Paul Dyer. "We always anticipated this milestone as one that would require a rethink of the agency structure that got us here. Tracy's promotion is a key part of this evolution. She has played an integral role in our growth, first in leadership roles for Lippe Taylor, and then as president of its sister agency, twelvenote, which doubled in revenue in its first year," explains Dyer. "She has the institutional knowledge and trust of both our people and clients to ensure a successful transition to this new structure."

The new agency structure was designed with integration as the central principal, further uniting the firm's engagement, digital, creative, media, and analytics groups into portfolio teams led by client experience leaders (CXL's), with client needs at the center. The structure will ensure team members are embedded to put greater focus on fewer clients, integrate more closely between specialties, and to develop more agile working styles as marketing trends shift. For employees, the agency's transformation empowers people through autonomous decision-making designed to fuel creativity and a growth mindset.

"Our growth over the last few years has surpassed even our own ambitious plans. As we grow from a midsize to large agency, we want to protect what makes us special – our team collaboration and creativity. During a time when clients demand strong results in less time, with lower budgets, we want to avoid big agency challenges where separate practice areas result in slowed productivity and a siloed culture," Naden said. "We are designing high-energy, integrated teams working towards a common goal – solving business challenges through culturally relevant ideas that serve a purpose in people's lives – removing the friction between brands and the communities they want to influence."

Lippe Taylor Group (LTG) is comprised of two agencies, Lippe Taylor and twelvenote. Central to both agencies is our Frictionless approach that aims to remove obstacles between brands and their audiences or stakeholders. LTG operates as a strategic marketing partner to clients who cannot simply outspend their competitors, deploying a proprietary approach to analytics-inspired, creative marketing solutions that earn growth. The agency partners with clients to create award-winning work across sectors with particular expertise in Pharma, OTC healthcare, food and beverage, consumer goods and technology. Lippe Taylor Group is headquartered in New York City and has centers of excellence in Los Angeles, Chicago, Washington DC, and Atlanta. In 2022 the company was recognized as the best Diversity, Equity & Inclusion Transformation in the industry.

Used Car Sales in USA Projected 13Bn Revenue

used car sales in usa projected 13bn revenue

The used car sales in USA is projected account for a revenue of $1.3 Bn with owing to advanced technology in automobiles and resolvent of chip issue in the industry: Ken Research.

Continuous Product Innovation and New Business Models: New business models such as "Value for Many" will redefine future business propositions and product development. The "make one, sell many" concept implies producing and selling the same product or service to the masses in developing countries or leveraging the market globally.

Digital Transformation: Larger number of independent and multi-brand dealers are expected to shift towards online platforms and increase their digital presence. Use of advanced technologies such as AI to valuate cars online, 360-degree view of the interiors of the car and more to enhance digital experience of consumers will drive the market. Social media will play a major role in generating leads for dealers & end consumers by virtue of offering advertisements at a lower cost with respect to other traditional marketing channels.

Trends and Recent Developments: The development of technology and internet have provided all the information to the consumers regarding vehicle value, market prices, profit margin of seller, quality and condition of the car and more where service providers in used cars market are adopting technologies in their business operations. Recent technological trends in the automotive sector include AI, Biometric Seat Capabilities, Biometric Seat Capabilities, 3D printing in car manufacturing, Internet of Things, Automatic Lift Gate and Electric Vehicles.

Market Potential: The semiconductor chip shortage in USA has led to diminishing growth in the new vehicle inventory, which is increasing the demand for used vehicles in the market. This trend is expected to further continue in the near future for at least a span of 2+ years, until the chip shortage is solved.

Analysts at Ken Research in their latest publication "USA Used Car Market Outlook to 2026F– Driven by an influx of digital players along with consumer demand for personal mobility and affordable pricing" by Ken Research observed that Used Car Market in USA is growing at a robust CAGR more than 40k Used cars being sold as a result of increased market supply along with a shift towards organized and transparent trade. The availability of financing options, online presence of new emergent players and increasing digital penetration is expected to contribute to the market growth over the forecast period. The USA Used Car Market is expected to grow at a CAGR of 7.4% in revenue terms over the forecasted period 2021-2026F.

Consumer shift from public transport to personal vehicle will lead to rising demand of used cars.

Increasing awareness about buying and selling used cars through advertisements and entry of new players will provide a major boost to used car market growth.

Easy availability of credit for financing pre-owned cars along with attractive interest rates and user-friendly buyer experience is to boost sales in future.