The fragmentation our industry has witnessed across media channels and audiences thanks to digital is now happening in the commerce space, Arktic Fox’s latest report makes plain. Yet without a clear commitment to commerce as a business strategy, brands are failing to invest in the skills and platforms they need to find growth in the next 3-5 years, warns the consulting firm's founder and chief, Teresa Sperti. And they're missing a trick on capability building around tailored product, price and content propositions for each emerging channel as a result.
As marketplaces, social and quick commerce channels proliferate, and Amazon and Temu rise to dominate the Australian retail market, brands need to be able to “fish where the fish are”, Sperti says – a view echoed by LÓreal’s chief digital officer, Ryan Clark and Adolfo Dominguez Australia’s Kris Garrett, and a situation Are Media is aiming to capitalise on through its branded marketplaces. Yet just as marketers and agencies grapple to truly attribute the impact of media, owned and earned channels across the funnel, they’re also going to need to recognise ecommerce channels are doing a lot more than just deliver transactions – they’re critical to omnichannel experiences and conversion as well as brand discovery, mental availability, salience and all those other very marketing jobs that need to be done.