Retail gets real at NY panel event

Blog: Consumer

— Monica Hopkins 

Think about the last purchase you made.

Did you spend hours flipping through clothing racks to score the perfect look, or did it pop up as you scrolled through your Facebook feed? While wondering how to apply that new Sephora eyeliner, did you ask an in-store sales associate or talk to the store’s chatbot on Kik?

Technology empowers shoppers to discover brands without ever stepping foot in a retail store and puts a world of product options at their fingertips, but how much of that time spent on apps or social media actually results in a purchase? That’s one of many things retailers would love to know.

WE partnered with YouGov for a new report that explores how social media influences women’s purchasing decisions and discovered that 31 percent of female shoppers would rather give up shopping for a month than make a purchase only via social media. 

Technology creates both unprecedented business opportunities and challenges, but it’s also leaving many retailers wondering how to entice customers to move from Like to buy.

That was the question we put to industry experts at the chic NYC offices of retail incubator Bene Rialto. Bene Rialto is known for helping brands fuse fashion and technology to create a seamless experience both in-store and online, so its offices were a fitting location for insightful conversation about how to harness the power of technology and create a meaningful customer experience regardless of location or platform and which brands are getting it right. Our panelists included Caryn Neary, CEO and founder of Bene Rialto; Liza Kindred, founder of Third Wave Fashion; Hilary Milnes, senior reporter at Glossy; and Lorraine Sanders, host of the podcast Spirit of 608. 

From Like to Buy

One key theme was that many brands struggle to strike a balance between utilizing technology for efficiency’s sake and maintaining a unique brand identity. As one panelist put it, “the best tech helps us to be more human.” At its best, social media engagement can help create an authentic connection with potential customers while simultaneously creating an environment that will surprise and delight your brand loyalists. Above all, consumers turn to social media for discovery and to find a little bit of themselves in the brands they love.

Want to learn more about how your business can up its social media game? As an agency that helps brands connect with consumers and tell stories with impact every day, we’d love to chat. Download our report highlights and connect with us.

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Monica Hopkins

Account Manager