Pre-Commerce – The new buzz word

Feb 2016
 
   

Retail/ E-Commerce –Traditional product sell approach

 
   
To understand what Pre-Commerce is, it is imperative to get insight into historical retail and e-Commerce mode of companies doing business. 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. This 99% time is anything but excluding actual online transaction.

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”

 
 
  1. Doesn't supports Social Interaction with innovation
  2. Minimal Feedback during product innovation to Brand Launch
  3. 1 % time spent on online actual transactions
  4. 99% time spent on research & buying decision
  5. Need to bridge gap in product innovation & online social interaction

 

 

 

 

 

 

 

 

 

 


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 established brands but also new 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. Only focus on product delivery
  2. Minimal focus on product innovation
  3. No exclusive platform for  product innovation launch
  4. High Inter/ Intra product competition
  5. Lack of test market selling on online
  6. High Competition for new entrepreneurs
 
   

Pre-Commerce – The next age of rising brands

 
   

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 exclusively help to build next brands of tomorrow.

The online platform in this phase of brand development that can help in bridging this gap of product innovation and social interaction at that early stage is called Pre-Commerce platform. This platform is exclusive for –
  1. Only launching/ selling new/ upcoming products before making them available for mass selling on traditional e-commerce portals and
  2. Selling the latest launched products already available in market.

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. Phase to interact with product innovation at early stage
  3. Pre-Stage of online e-commerce
  4. Outside in approach for companies to utilize early feedbacks
  5. Maximize customer  experience
  6. Help brand sustenance for longer period
  7. latest innovation
  8. More focused reviews
 

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

 
   

NextBrandz is India’s first and the only exclusive “Online Pre-Commerce Multi-Vendor Marketplace Platform for selling” with complete focuses on -

  1. Exclusive launches/ Pre-Launches only new/ upcoming product innovation/ trends on NextBrandz
  2. Exclusive sale of only the latest launched products available in market
NextBrandz is exclusively available for every Pre-commerce phase of any products/ brands that would require early innovations/ trends social interaction. Due to its exclusive Pre-Commerce focus, no previous product models/ design except latest launched shall be available on NextBrandz. This means- as soon as new product is launched in market by any brand; the last listed product for respective brands will get removed from listing.

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 only get always new product models/ design and will always be involved in early feedback for shaping up a brand.

  1. Benefits for Manufacturers/ Seller/ Entrepreneurs-
    1. Exclusive platform for launching any new product/ brand launch
    2. Exclusive sale of only latest launched products available in market
    3. Minimal Intra/ Inter-product/ Brand competition
    4. Early feedback/ review for new launches from consumers.
    5. Special focus on Make in India
    6. Opportunity for new entrepreneurs to launch their products and make them as next brands of tomorrow.
    7. Ability to launch test marketing & selling for new launches
    8. Tie Up & Investment possibilities for potential investors due to focused visibility and test marketing of new product on NextBrandz
    9. Ability to tie up with distributers for penetration in retail market
  2. Benefits for Buyer
    1. Own latest models/ trends and be part of brand innovation journey
    2. One stop shop for all upcoming product models/ innovations/ trends- first on NextBrandz
    3. Only latest launched products. Get exclusive product features/ details without dilution with previous models/ trends
    4. More focused reviews a help pre & post brand buying decision
    5. Great gifting options for your loved ones by giving them first hand ownership
    6. Delivery of innovations at your door step
Experience the world of Pre-Commerce exclusively @ www.nextbrandz.com
 

1st ever Pre-Commerce portal

 Seller

  • Launch new products exclusively
  • Sell latest models exclusively
  • Minimal inter/ intra product competition online
  • Special focus on make in India
  • Launch test marketing/ selling

 Buyer

  • One stop shop for buying latest innovation
  • More focused reviews