Susan Lyne, the CEO of Gilt Groupe (an online fashion retailer offering designer labels at discounted prices) talks about the future of the online retail industry in this interview for Big Think and identifies three key ideas.
The first is curating, about companies not offering a large quantity to consumers because they become paralyzed by too many choices, but instead offering a filtered selection of options that are of high quality. Secondly, a greater convergence of editorial and commerce, with better content in magazines inspiring consumers and influencing them to make a decision. Finally, she discusses the growth of game dynamics, with groupons, appointment shopping and limited time offers that drive people to move to the next level in the shopping experience.
[via curiosity counts]