Brands are rushing to adopt new commerce trends, such as the metaverse and cryptocurrencies, but not always with success. Hostess received backlash for its “Twinkcoin” campaign, which lacked a clear connection to the brand and confused customers. On the other hand, Sephora found success by adopting technology that complemented its business model and prioritized customers’ behaviors. To achieve similar results, organizations must analyze whether a new innovation aligns with its brand identity and customer behavior, as well as prioritizing continuous experimentation. Developing an agile tech stack is also essential to empower employees to prioritize innovation. Bridging the gap between increasing interest in commerce innovations and minimal investment by non-technical business decision-makers starts with assessing how they align with current technological capabilities, brand vision, and customers’ evolving needs.
Tips to quickly grasp and enjoy new trends in commerce innovation.
