I have been working as a teaching assistant for an undergraduate e-business class for the Communication, Culture, Information and Technology program at the University of Toronto's Mississauga campus , which gives me the chance to talk about some cool tech, trends, and their possible ramifications for business.
Last week the students presented on four different technologies that they anticipate becoming increasingly applicable for businesses: drones, m-Payments, wearable technology, and holograms & virtual reality.
Below are my notes from the presentations, with a few points thrown in from the course instructor and some polishing and links by me. I thought the class did a great job in the short time they had to prepare. For those new to these areas, this is a good brief primer with some key considerations.
DRONES
- drones can be used for various consumer uses beyond its military roots
- Amazon experimented with delivery drones, but wasn't yet viable for full-scale deployment [I think this was actually a publicity stunt]
- "selfie drones" available to photo-document your life
- can be used for emergency medical response, e.g. sending a defibrillator
- drones are useful for investigations into environments where people
can't easily go (e.g. hydro towers, hostile places)
- various socio-political concerns limit uptake such as: privacy, spying, possible terrorist use, airspace regulations (i.e. flight paths and height and restricted zones)
- technological issues also remain, such as: weight they can carry (limits quality of cameras they can carry), poor battery life (but this may soon be solved)
M-PAYMENTS
-mobile commerce (m-Commerce) definition was given as "efficient, on-the-go
interacting with commerce through one's mobile device"
- anticipate m-Commerce will be huge and grow in tandem with e-Commerce
- for higher adoption rates would be a triggered by a killer app, which hasn't yet appeared (a killer app for gunpowder was not original use for fireworks, but rather for guns/canons or email for the Internet)
- a single, unified payment and loyalty system could be this killer app (for instance people wouldn't need a special Starbucks app for payment and loyalty privileges and similar apps for the other businesses as this could be offerred in one app)
- for m-Payments to flourish there needs to be a critical mass of businesses offerring the option and no barriers to use between the merchant and mobile user - Bluetooth or Near Field Communications (NFC) already installed on many mobiles can enable frictionless payments
- security concerns are still limiting uptake - but this could be mitigated by adding a biometric verification (e.g. fingerprint) with payments and fraud protection
- facilitating peer-to-peer mobile payments could penetrate new markets based on socio-religious barriers limiting existing electronic payment methods as credit cards are not suitable for Muslims due to usury prohibitions or people unable to get credit cards such as youth
- could be used in conjunction with digital currencies such as Bitcoin
WEARABLE TECHNOLOGY
- brand names dominant in this sector at present (e.g. Google Glass
and Sony SmartWatch), yet this area has lots of current development by less high-profile companies that is not widely known
- wearable tech used in health sector, e.g. diabetes RFID tests,
Alzheimer guard tech, etc.
- also used for entertainment, communications, and sports and fitness
- security and reliability are a big concern limiting uptake, particularly applicable for health sector and fitness, e.g. Nike SportWatch calories burned functionality is not very accurate (particularly considering its cost, which sets up expectation
of good accuracy)
- may soon have embedded tech, e.g. chips in our body
- wearable tech is still a new market so it is anticipated that new developments and refinements will come and accuracy will improve
- customization of product offerings needed to help differentiate similar products
VIRTUAL REALITY AND HOLOGRAMS
- recently this sector has become more notable due to Microsoft's
much-hyped launch of Microsoft HoloLens
- HoloLens uses glasses to combine real world images with augmented
reality (i.e. information/representations overlaid of real world
imagery) and virtual reality (i.e. fanciful or other types of imagery
such as images of Mars)
- holographic computing and virtual reality has been hyped for many years as the
next big new thing, but fails to catch on
- technology still needs to improve - needs to be lighter, less bulky, and faster processing speeds for wider adoption
- current viable use for this tech would be for consumers to aid in-store shopping
The students raised some of the key potential features of these technologies and the barriers to widescale adoption. My take is that technology never progresses as fast as visionaries or young people think it will. But that doesn't mean we won't continue to see some really interesting developments in these sectors over the next few months/years.
Showing posts with label e-commerce. Show all posts
Showing posts with label e-commerce. Show all posts
Tuesday, February 03, 2015
Monday, December 29, 2014
The Ho and Hum of Online Shopping
The holidays are almost over and I pretty much survived Christmas shopping - the worst part of the endless, obligatory traditions.
I finished my Christmas shopping by early December thanks to online shopping. I did have to pick up a few stocking stuffers at a local store - but if there was a website that sold candies, trinkets, and lip-balm at reasonable prices I'd use it gleefully - such is my hatred for shopping.
I particularly hate shopping at malls and big-box stores any time of the years, but especially during the holiday season. In addition to my hatred of physical shopping, we don't have a car and we live in a city with an inadequate public transit system. And, like most people nowadays, I have very little free time. So getting the time and to the location of physical shopping is a real challenge. Even if I can get there, one has to deal with the hordes of hell at the stores.
Such is my hatred for physical shopping - made a horrendous hell at this time of year - that the protracted pain of Christmas shopping can just completely kill me. So I love online shopping as it has saved me endless grief and given me a semblance of a life during the onslaught of required holiday preparations and traditions. I have done the bulk of my Christmas shopping online for the past 15 years.
Well, I should have had not online shopping let me down this year.
We have bought almost every type of thing online: computers, books, toys, clothes, collectibles, shoes, groceries, electronics, postcards, etc.
We got some good stuff this year via online shopping. I got a great price on a Canon Selphie photo printer for my daughter at a price cheaper than any store had it. Our only computer died on Cyber Monday, I could not go physical shopping as, but we got a great deal online (if a computer has to die Cyber Monday is the best day to do it, but just a bit too convenient).
We got a book not available in physical stores (I know as the bookstore's website has a handy feature to see their physical store's inventory).
We have had a few problems with online shopping. Shoes that weren't really the size they said they were (that's why you always have to try shoes on first). Shirts that looked great online but were a bizarre colour or odd cut. The laptop I recently got had great online reviews, particularly for its keyboard - but it turns out the keyboard isn't anywhere near as good as it was hyped.
I was going to buy clothes as gifts online, but I learned from my mistakes. Unless the price is so good that one can afford to get something shipped that is potentially unwearable or can be returned at a nearby physical store, then it isn't worth getting. The return process for items is just too painful and usually too expensive for that to be an option.
Then there are stores that charge just way too much for shipping. I wanted to get my mother some stuff from Crabtree and Evelyn, but their shipping cost was too expensive. Online stores have such a lower overhead that they can easily afford to offer reasonable or cheap shipping. But at least, I was able to browse their products online and figure out what I wanted so that when I went to the store I was in and out in a flash (I still don't think websites get the credit for motivating in-store shoppers that they deserve.)
The worst this year was trying to find a gift for people that have everything on my student budget. So I saw some cookies on a national retailer's website that seemed unique and cool for $15.
When I got the cookies they were the tiniest pack of cookies I had ever seen. I'm talking the same weight as a chocolate bar. It was so small that the package was almost the same size as the photo on the website - seriously I held it up to it and it was within millimetres!
It is so expensive that per gram these cookies are about the price of gold, or crack, or elephant "processed" coffee.
Okay, I have to assume some responsibility for not specifically checking the weight of the cookies and figuring out how truly infinitesimal the product is. But then, this store is not known for selling gourmet items and I think they have some responsibility to offer products for sale that are consistent with the overall market in terms of size and to fairly present their products. It didn't help that the size described on the website and the product didn't match either - being off by 25%.
So I was convinced that online shopping had let me down. But then I remember that another great thing about the Internet is how easy it is to complain via email! So I drafted off a complaint about both the inaccurate product description and overall misleading size.
Within a day, I heard back from a customer service agent who apologized, rebated me $10, and escalated the problem of inaccurate product description to her managers. This awesome response restored my faith, enlarged my Grinch heart, and convinced me to continue my shopping online ways!
Happy holidays!
I finished my Christmas shopping by early December thanks to online shopping. I did have to pick up a few stocking stuffers at a local store - but if there was a website that sold candies, trinkets, and lip-balm at reasonable prices I'd use it gleefully - such is my hatred for shopping.
I particularly hate shopping at malls and big-box stores any time of the years, but especially during the holiday season. In addition to my hatred of physical shopping, we don't have a car and we live in a city with an inadequate public transit system. And, like most people nowadays, I have very little free time. So getting the time and to the location of physical shopping is a real challenge. Even if I can get there, one has to deal with the hordes of hell at the stores.
Such is my hatred for physical shopping - made a horrendous hell at this time of year - that the protracted pain of Christmas shopping can just completely kill me. So I love online shopping as it has saved me endless grief and given me a semblance of a life during the onslaught of required holiday preparations and traditions. I have done the bulk of my Christmas shopping online for the past 15 years.
Well, I should have had not online shopping let me down this year.
We have bought almost every type of thing online: computers, books, toys, clothes, collectibles, shoes, groceries, electronics, postcards, etc.
We got some good stuff this year via online shopping. I got a great price on a Canon Selphie photo printer for my daughter at a price cheaper than any store had it. Our only computer died on Cyber Monday, I could not go physical shopping as, but we got a great deal online (if a computer has to die Cyber Monday is the best day to do it, but just a bit too convenient).
We got a book not available in physical stores (I know as the bookstore's website has a handy feature to see their physical store's inventory).
We have had a few problems with online shopping. Shoes that weren't really the size they said they were (that's why you always have to try shoes on first). Shirts that looked great online but were a bizarre colour or odd cut. The laptop I recently got had great online reviews, particularly for its keyboard - but it turns out the keyboard isn't anywhere near as good as it was hyped.
I was going to buy clothes as gifts online, but I learned from my mistakes. Unless the price is so good that one can afford to get something shipped that is potentially unwearable or can be returned at a nearby physical store, then it isn't worth getting. The return process for items is just too painful and usually too expensive for that to be an option.
Then there are stores that charge just way too much for shipping. I wanted to get my mother some stuff from Crabtree and Evelyn, but their shipping cost was too expensive. Online stores have such a lower overhead that they can easily afford to offer reasonable or cheap shipping. But at least, I was able to browse their products online and figure out what I wanted so that when I went to the store I was in and out in a flash (I still don't think websites get the credit for motivating in-store shoppers that they deserve.)
The worst this year was trying to find a gift for people that have everything on my student budget. So I saw some cookies on a national retailer's website that seemed unique and cool for $15.
When I got the cookies they were the tiniest pack of cookies I had ever seen. I'm talking the same weight as a chocolate bar. It was so small that the package was almost the same size as the photo on the website - seriously I held it up to it and it was within millimetres!
It is so expensive that per gram these cookies are about the price of gold, or crack, or elephant "processed" coffee.
Okay, I have to assume some responsibility for not specifically checking the weight of the cookies and figuring out how truly infinitesimal the product is. But then, this store is not known for selling gourmet items and I think they have some responsibility to offer products for sale that are consistent with the overall market in terms of size and to fairly present their products. It didn't help that the size described on the website and the product didn't match either - being off by 25%.
So I was convinced that online shopping had let me down. But then I remember that another great thing about the Internet is how easy it is to complain via email! So I drafted off a complaint about both the inaccurate product description and overall misleading size.
Within a day, I heard back from a customer service agent who apologized, rebated me $10, and escalated the problem of inaccurate product description to her managers. This awesome response restored my faith, enlarged my Grinch heart, and convinced me to continue my shopping online ways!
Happy holidays!
Monday, April 16, 2007
How to pay online with no credit card
My colleague, Michelle, at Scotiabank will be happy to know that I read all of their digital marketing and educational material. As such, I recently noticed that it is now possible to use your debit card online, through Interact Online.
I use my credit card to shop online, as I am not worried about the security (particularly since I don’t do business with those types of merchants in the first place) and I love/am obsessed with Air Miles, which my credit cards offers with every purchase.
For those without a credit card or reluctant to use it online, however, buying products or services online has long been a fundamental roadblock.
While Interact Online helps remove some e-payment obstacles, there are still roadblocks:
The winner in alternative online payment is still, unquestionably, PayPal.
PayPal, in addition to allowing service via credit cards also hooks up with one's online bank to facilitate online payment. PayPal is offered at more, and more important merchants than Interact. (There are lots of things to love about PayPal. PayPal earned my loyalty ever since I first used it to buy my cherished Simpsons' Halloween figures on eBay, but that’s another post)
Finally, another option is emailing money. Scotiabank offered this service at least a couple years ago and I love it. Granted, I don’t like the additional service charge, but it sure is an easy way to send money. Never could figure out how to do an online bank transfer, but emailing money only takes a couple minutes – essentially all you need is a online bank account, your payee’s email address and a question to pose to the payee that only they will know the answer to. The downside of the ease of this service is there is no excuse now when borrowing money to not pay it back!
I use my credit card to shop online, as I am not worried about the security (particularly since I don’t do business with those types of merchants in the first place) and I love/am obsessed with Air Miles, which my credit cards offers with every purchase.
For those without a credit card or reluctant to use it online, however, buying products or services online has long been a fundamental roadblock.
While Interact Online helps remove some e-payment obstacles, there are still roadblocks:
- one has to bank online (which is granted a large and growing number of Canadians)
- only Scotiabank, RBC, TD, and soon BMO customers can use it
- only a small number of merchants and few major businesses offer it (looking at the list of participating merchants, there wasn’t one I would be able to use)
The winner in alternative online payment is still, unquestionably, PayPal.
PayPal, in addition to allowing service via credit cards also hooks up with one's online bank to facilitate online payment. PayPal is offered at more, and more important merchants than Interact. (There are lots of things to love about PayPal. PayPal earned my loyalty ever since I first used it to buy my cherished Simpsons' Halloween figures on eBay, but that’s another post)
Finally, another option is emailing money. Scotiabank offered this service at least a couple years ago and I love it. Granted, I don’t like the additional service charge, but it sure is an easy way to send money. Never could figure out how to do an online bank transfer, but emailing money only takes a couple minutes – essentially all you need is a online bank account, your payee’s email address and a question to pose to the payee that only they will know the answer to. The downside of the ease of this service is there is no excuse now when borrowing money to not pay it back!
Tuesday, April 10, 2007
Online drives offline sales
I still keep hearing the criticism of the Internet that e-Commerce is a fraction of retail sales. For years, I have been trying to convince people that the influence of websites far exceeds the total amount purchased online. Online purchase totals are almost insignificant compared to the influential power of Internet vehicles to help consumers decide their offline purchases. And I'm not even factoring in the value of brand building online.
For instance, almost everyone, with a computer and Net connection, does at least some research online before booking a trip. But buying trips online is still rather difficult if you have complicated plans and it lacks the in-person assurance of having someone to advise you and to rely on if anything goes wrong.
Researching online but buying offline also applies to clothes, books and DVDs, property, investments, appliances & electronics, decorating products, etc.
Today, I found a study that confirms my point. Internet sources are the most-consulted sources of information for car buyers. Car manufacturers obviously have known this, as their websites are among the slickest looking and have the coolest functionality among any websites.
The fully study by Capgemini and sited in e-Marketer.com, shows that Internet sources represent three of the top five sources (the study was for buyers in the U.S., U.K, France, Germany & China). Manufacturer’s websites was the top source, even beating dealerships.
The top sources with their respective percentages of respondents are:
I think this case is now officially closed. I’m not even going to argue this point any more – though I may send them this link.
For instance, almost everyone, with a computer and Net connection, does at least some research online before booking a trip. But buying trips online is still rather difficult if you have complicated plans and it lacks the in-person assurance of having someone to advise you and to rely on if anything goes wrong.
Researching online but buying offline also applies to clothes, books and DVDs, property, investments, appliances & electronics, decorating products, etc.
Today, I found a study that confirms my point. Internet sources are the most-consulted sources of information for car buyers. Car manufacturers obviously have known this, as their websites are among the slickest looking and have the coolest functionality among any websites.
The fully study by Capgemini and sited in e-Marketer.com, shows that Internet sources represent three of the top five sources (the study was for buyers in the U.S., U.K, France, Germany & China). Manufacturer’s websites was the top source, even beating dealerships.
The top sources with their respective percentages of respondents are:
- Manufacturer websites = 49%
- Family & friends = 46%
- Manufacturer-specific dealer = 46%
- Information websites = 45%
- Dealer websites = 43%
- Specialist automotive press = 37%
- Independent e-Tailer websites = 31%
- Independent car valuation services = 29%
- Print advertising = 25%
- Used car dealer = 25%
- TV advertising = 24%
- Non-specialist press = 17%
- Web forum and discussion groups = 16%
I think this case is now officially closed. I’m not even going to argue this point any more – though I may send them this link.
Tuesday, January 16, 2007
Canadian success story fails
Toronto shopping blogger Bargainista had a post recently on the bankruptcy sale for Just White Shirts.
The only Canadian e-commerce international success story will soon be unravelling.
(Please correct me if I'm wrong and there are other e-commerce website that have success beyond Canada.)
I searched, but couldn't find any details on the reason for Just White Shirts' demise (could it be their dorky name?). Their website does state that all says are final though due to their bankruptcy as of Dec. 13, 2006.
If anyone knows any details on this company, please share them.
I never shopped at Just White Shirts, as I once bought a shirt (from Sears.ca - the website I shop at the most after Amazon.ca) and it fit poorly and the colour was quite different, in a very bad way, from the website image. That ended my online shopping for clothes.
Nonetheless, there are so few Canadian e-commerce successes that it is sad to see one go.
The only Canadian e-commerce international success story will soon be unravelling.
(Please correct me if I'm wrong and there are other e-commerce website that have success beyond Canada.)
I searched, but couldn't find any details on the reason for Just White Shirts' demise (could it be their dorky name?). Their website does state that all says are final though due to their bankruptcy as of Dec. 13, 2006.
If anyone knows any details on this company, please share them.
I never shopped at Just White Shirts, as I once bought a shirt (from Sears.ca - the website I shop at the most after Amazon.ca) and it fit poorly and the colour was quite different, in a very bad way, from the website image. That ended my online shopping for clothes.
Nonetheless, there are so few Canadian e-commerce successes that it is sad to see one go.
Monday, January 08, 2007
Online Retails Hits All-Time High in 2006
e-Marketer today reports that 2006 in the United States was a good year for e-commerce. Revenues surpassed 100 billion!
While overall retail spending was cool, online shopping was hot.
This figure doesn't include online sales of travel or I, suspect B2B purchases. Suffice to say this item gives me the warm fuzzy feeling of job security.
Read the full story at e-Marketer
While overall retail spending was cool, online shopping was hot.
This figure doesn't include online sales of travel or I, suspect B2B purchases. Suffice to say this item gives me the warm fuzzy feeling of job security.
Read the full story at e-Marketer
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