Pre-Commerce – The new buzz word

Feb 2016
 
   
Welcome to the world of Pre-Commerce. Pre-Commerce has been coined from term "Pre + e-Commerce = Pre-Commerce". Pre-Commerce can also be referred to as Pretail (Pre-Retail, anything before full retail). Pre-Commerce is a phase in brand development when consumers can socially interact with product innovation during early stages and help to build next brands of tomorrow. To understand in depth about Pre-Commerce is, it is imperative to get insight into historical retail and e-Commerce mode of companies doing business  
   

Retail/ E-Commerce –Traditional product sell approach

 
   

Traditionally business has been focusing on product development in silos and selling to customer through established chain of retail store or e-commerce online selling portals. There has been minimal existence of any social interaction by consumer at pre- product selling or brand development stage. This often follows a top-down approach where companies follow a liner road map from manufacturer to customer with minimal involvement from outside social world (actual consumers). Thus reducing the effectiveness of consumer, seller, and investor feedback back into product evolution/ innovations and brand development at full potential.

In today’s world following online touch points/ avenues exists using which a customer can interact with any product/ brands-

  1. Website
  2. E-Commerce store
  3. Email Marketing
  4. Video Marketing
  5. Search Engines
  6. Keyword Searches
  7. Location Searches
  8. Content – either on your website or on other websites
  9. Social Media
  10. Online Advertising

Traditional e-commerce has been focusing purely around online transactions and delivery of products and services at consumer’s door-steps. These transactions are hardly around 1% of time customer spends on internet[1]. The rest of the 99% time is spent online in researching and making decision on which brands to buy or support both before purchase and after purchase. That’s because companies launch new products via retail or e-commerce skipping Pre-Commerce phase or platform. Hence customer engagement and trust building with brands gets neglected during early launch phase. This result in -

    1.  lack of brand launch awareness,
    2. confused buying experience and

    3. Waste of time & money

If there could be a platform to capture these decisions/ social interactions that e-Commerce is missing, it can help companies to maximise customer experience, and ultimately improve their commercial performance, thus sustaining consumer to be associated with brands even post transactions.

That’s where Pre-Commerce come and tries to bridge the gap between innovation and its social interaction with consumer to understanding how customers moves and interacts in their pre-commerce phase will enable you to use these “parts of the pie” to educate, inform and build trust with the customer before and after the physical transaction

The online social presence of a consumer still needs to be harnessed and channelized into appropriate product innovations for becoming successful brands of tomorrow


[1] Bob Pearson, “Pre-Commerce – How Big Companies and Customer are transforming together”

 
 

Key Problems

  1. A lack of Social Interaction with new product innovation
  2. Minimal Feedback into product evolution/ brand development
  3. Only 1 % time spent on online actual transactions & rest 99% time spent on research & buying decision
  4. Lack of customer engagement during early launch
  5. Lack of trust building with brands
  6. lack of brand launch awareness,
  7. confused buying experience
  8. Waste of time & money
  9. Entrepreneurs face challenges in getting focused market visibility

 

 

 

 

 

 

 

 

 

 


Indian Retail & E-Commerce

 
   

Indian retail and e-commerce market is flooded with offering all ranges of products from established brands or new brands with focus on just home delivery without harnessing the potential of online social interactions and product innovation. There is minimal focus on innovation aspect for product development. In country like India which is going through tremendous ear of innovation, harnessing consumer social interactions with products/ brands can be very effective propositions for manufacturers/ sellers/ entrepreneurs investors. Below scenarios can create challenging situations for not only new brands but also established brands.

  1. Missing exclusive online platform for social interaction between consumers and product innovation/ trends.
  2. High inter/ intra product/ brand products competition for new product launches affecting focused visibility.
  3. For New/ Upcoming Launches- Lack of exclusive platform for consumers to experience new/ upcoming launches only, and get effective social interaction much required for brand development. Thus diluting customer’s attention on these newly launched product/ brand
  4. For Latest Launches already available in market- Lack of exclusive platform that only sells/ showcase the latest launched products already available in market for various categories.
  5. For Entrepreneur - Lack of platform with minimal competition and high visibility for new product innovations to take them to next level of consumer interaction via- Pre-Commerce and shaping them as next brands of tomorrow.
  6. Lack of any test marketing platform to understand brand potential using consumer behaviour before it is sold at large scale 
Above challenges are hindrances to promoting/ delivering product innovations and often lose their visibility and die early without harnessing the potential. Lack of exclusive feedback at single platform is not available, thus reducing the improvement opportunities for new brands. The brand growth to next level often becomes challenging
 
 
  1. Focus on product delivery
  2. Lacks focus on product innovation
  3. No Pre-Commerce  platform for  product launches
  4. No platform for products test-launches 
  5. High cost of failure & wastage
  6. High Inter/ Intra product competition
  7. High Competition for new entrepreneurs
 
   

Pre-Commerce – The next age of rising brands

 
   

As detailed above, in Pre-Commerce the product innovations can socially interact with consumers during early stages of launch that can help in building the next brands of tomorrow. And the online platform in this phase of brand development that can help in bridging this gap of product innovation and social interaction at this early stage is called Pre-Commerce platform. This platform is exclusive for –

  1. New product launches
  2. Pre-Launches
  3. Test Launches
  4. Post launch - Selling the latest launched products already available in market
  5. Before making them available for mass selling on traditional e-commerce portals.

Pre-Commerce is also about how companies and customers are transforming the innovation(s)/ trend(s) of product together for sustainable synergies helping in shaping up brands of tomorrow. Innovation is about social and at its core is involving endless social interaction not only internal relationship but external one as well. This involves Innovator, supplier, re-supplier, customers, investors, even competitors. These interactions help shaping the product, partnership and value footprint of every successful brand.

Pre-Commerce takes an outside-in community approach, where consumer interaction radically brings effective drivers for new innovations in product. Big brands can effectively launch their products for first hand market reaction/ feedbacks and smaller brands/ new comers can test their brands before they hit retail segment or e-commerce space by reducing their cost of waste.

Pre-Commerce is going to be the next big online trend your business would need to understand to maximise customer experience and utilize the early feedbacks to further improve brand performance. Having a controlled understanding of how your customer interacts with your product/ brand in Pre-Commerce phase will enable companies to educate, inform and build trust with your customers before and after physical transactions.

You can get clear insights on customer’s mind on how they move and make decision on buying a new products/ brands.

 
 
  1. Pre+ e-Commerce = Pre-Commerce. Next buzz word
  2. Pre-Stage of online e-commerce
  3. Phase to interact with product innovation at early stage
  4. Outside in approach to utilize early feedbacks/ reviews
  5. Maximize customer  experience & long term brand association

 NextBrandz –India’s 1st & Only Pre-Commerce platform

 
   

NextBrandz.com is India’s 1st and exclusive Pre-Commerce Multi-Brand Launch Platform. It’s an online multi brand launching & buying pre-commerce portal with complete focuses on exclusive -

    1. Pre-Launch upcoming product innovations

    2. Launch new products

    3. Post-Launch, exclusively sell only Latest Models/ trends

    4. Test –Launch new product innovations

NextBrandz has developed an online Pre-Commerce platform which is exclusively available for any products/ brands that would require early social Interaction with new product innovations/ trend’s.

India is witnessing era of innovations at every steps, thus it becomes seldom imperative to take innovation directly to society and shape brands of tomorrow. NextBrandz has identified this as a void existing in marketplace in India where consumers and manufacturers/ sellers can come together and help up in shaping up brands of tomorrow. This way NextBrandz will act as a bridge between Innovation and online selling (E-Commerce). Consumer will always get new product models/ design and will always be involved in early feedback for shaping up a brand.

 

  1. Launch Categories

Product innovations can be launched and sold under below categories of launches

  1. Pre-Launch – These types of launches represents those products which are ready to be launched on a particular declared date but yet not physically available. However pre-orders can be booked and then fulfilled within pre-defined timelines once product is launched.
  2. Launch new products- These types of launches represents products which are launched in market and are immediately available to customers for buying.
  3. Post-Launch product sale – Under this launch head, NextBrandz will exclusively sell only last launched product i.e., latest Models/ trends only. No previous models/ trends of products shall be available. Once new version of the product under a brand is launched then the listing for above products shall be removed. Thus maintaining only latest models/ trends of different products
  4. Test-launch – These types of launches are helpful for companies and entrepreneurs wherein they want to make their product available in limited quantities that can help in making their innovations interact with limited consumers and get their feedback to improve the product. Using this approach, the companies/ entrepreneurs can reduce their cost of wastage and time
  5. Virtual-launch – These types of launches represents all those product innovations which have visibility to launch, however companies/ entrepreneurs wants to take this to consumer beforehand without physical availability and want their early feedbacks with possible feature sets that are important to customers and based on that feedback the product get launched. This will help in better understanding of future market penetration
  1. Benefits for Manufacturers/ Seller/ Entrepreneurs-
    1. Pre-Launch upcoming product innovations -
      1. Early Brand Visibility
      2. Early Pre-Orders to understand the market demand
    2. Launch new products- 
      1. Early market penetration
      2. Quick brand visibility
      3. Early return on Investments
      4. Early feedback/ review for new launches from consumers
    3. Post-Launch, exclusively sell only Latest Models/ trends-
      1. Minimal inter-product competition within or outside brand
      2. Sustainable visibility, thus more sale
      3. Long-term brand association
    4. Test-launch your products -
      1. Early consumer interactions & feedbacks
      2. Test your brand acceptability
      3. Low initial investments
      4. Limiting brand failure cost and wastage
    5. NextBrandz will also have Special focus on make in India innovations
      1. Possibilities for tie up’s & Investment form potential investors (One of the aim of NextBrandz in future)
      2. And above all get an integrated platform for product launch to customer delivery
  1. Benefits for Buyer
    1. It’s one stop platform to buy latest product innovations

    2. Get exclusive launch information and reviews

    3. Get early ownership of latest trends & technologies

    4. Get informed buying experience, less confusion in pre & post buying decision

    5. End to end integrated risk free online service to deliver launched product at your door steps

    6. Risk free online purchase

    7. Easy Returns for most of the launched products

    8. Delivery of innovations at your door step

Experience the world of Pre-Commerce exclusively @ www.nextbrandz.com and be part of endless journey where Innovations becomes NextBrandz

 

1st ever Pre-Commerce portal

 Seller

  1. Pre-Launch upcoming product innovations
  2. Launch new products
  3. Post-Launch, exclusively sell only Latest Models/ trends
  4. Test –Launch new product innovations
  5. Special focus on make in India

 Buyer

  1. One stop shop for buying latest innovation
  2. More focused feedbacks/ reviews