Spending by fashion brands on print advertising has plunged in the past decade and shows no sign of rebounding before the next recession brings more crushing loss and despair. Wait, it gets better. Brands are still finding reasons to buy ads in magazines, even as digital rivals like Instagram transform the fashion industry, as Business of Fashion columnist Amy Odell explains in a recent post. Those reasons include the failure of digital media to provide an adequate substitute for print, the cultural credibility of magazine brands and the undervaluing of digital platforms by publishers themselves. That’s reason for hope among the major secular shifts in consumer habits. Smartphone-happy Americans spent 3.3% of their media consumption time on print products, compared with 44.4% on digital media, Odell notes. Click Read More bellow for additional information.
This has nothing to do with religion, so that might have been clickbait. In the world of omnichannel marketing, I’m talking about the holy trinity as: the product one sells, the service one provides to customers, and the mission by which one runs a company.
The purpose of this post is that I want to highlight some examples of some very positive online shopping experiences I had recently (not Amazon!) and commend both small and large companies for their bravery in maintaining their autonomy against Jeff Bezos.
A quick background on me: I’m a millennial. I’m also the youngest at my company. My adolescence took place in the 1990’s at a time where the personal computer consisted of the computer device itself connected to a large, clunky monitor; where America Online and dial-up internet became my father’s daily fascination; and where my mother once told me to stop using Lycos.com (started in 1994) and instead, use this new search engine called, Google.com in the late 90’s. Fast forward to 2019 and to millennials, technology is our second nature – though I maintain that Gen Z kids are the world’s fastest texters. We grew up right alongside tech’s major growth spurt in the late 90’s to early 10’s. And to that end, we spend an incredible amount of time “online” connected with our peers and friends through a myriad of social networks. Texting is our preferred method of contact, and phone calls have now become “formal communication.”
Visual media (primarily digital) is the most common method of information intake for millennials. We love Instagram, Facebook, and YouTube, and being informed through online media sites. Print also serves a very important role in this landscape, but today I’m going to focus on digital. Primarily, on how digital media prompted my recent buying behavior.
I’ve made some purchases recently that admittedly, were impulsive. What were these reasons I made such impulsive purchases, you ask? Or, what was it that made me “tick” and open up my wallet? I’m proud to say that my last handful of purchases were NOT from Amazon! (On a side note, I also canceled my Amazon Prime membership in some sick social experiment on myself to test my spending will-power. I’ll update you on that later.)
When I consider buying a product online that I have yet to touch, feel, experience in person, these are the three factors that I take into consideration for a first purchase, and possibly secondary+ purchase.
much more at: https://cohereone.com/the-holy-trinity-product-service-mission/?utm_source=CohereOne+Master+List&utm_campaign=c251763973-Are+Your+Sales+Down%3F+No+Wonder…_COPY_01&utm_medium=email&utm_term=0_d81250a2d7-c251763973-138282877