Marcel Hollerbach is CMO and member of the supervisory board at Productsup, a Berlin-based tech company that empowers brands and retailers to reach more customers on more channels and maximize sales. A serial entrepreneur, Marcel is also a founding partner of venture capital fund Cavalry Ventures, which specializes in early-stage investments in European tech startups.
The Walmart+ subscription service could launch later this month
Retail Insight Network spoke with industry experts to hear their answer to the question: “Could social media become the biggest ecommerce platform?”
Google is trialling a new way to shop from YouTube videos, as it looks to ramp up how video commerce can be made easier.
Joining the likes of Pinterest and Instagram, it shouldn’t come as a surprise that YouTube is the latest social media platform to make its way into in-app shopping experiences. Video is an increasingly relevant medium for consumers, influencers and brands, and the new initiative could eventually allow consumers to make purchases directly from YouTube videos.
Consumers expect a seamless online shopping experience, with fast and often free delivery. They also crave brand experiences and, while the return of physical stores gives consumers back a nice retail experience, we shouldn’t forget they are still using more online channels than ever before.
Walmart’s rollout of Walmart+ is yet another example of companies playing catch up to Amazon. Adding a subscription revenue stream proved to be a leading source of business for Amazon, especially after it raised the fees for Prime, so it was only time before we saw other large retailers follow suit with their own membership programs.