Electric Thoughts in a Digital Era | A blog on eCommerce, Social Commerce, Marketplaces & Business

Live-Streaming from [insert city name]

Every few weeks, an article on the future of commerce makes an appearance in my research. The problem is that these articles are still referencing to retail and e-commerce. The future looks very different, as commerce needs to be entertaining and relevant. Live-Streaming is already active, and smart devices leveraging voice commerce seems distant.

Live-Streaming is the social commerce element that will scale in all markets. Why? Consumers all have mobile phones. Creators and merchants are looking for shopping cart abandonment solution which communicates trust.

Live-streaming on Taobao Live — Source: Forbes

Amazon Fashion Won’t Ever Be a Winner – Not Now or Anytime Soon

Amazon, the dominant marketplace in North America has always wanted to be the everything store. Amazon Fashion, however, seems to a rudder-less business that is tone-deaf and looking to be a savior amidst COVID-19 horrific impact on the apparel sector.

Amazon Fashion A Non-Premium Experience

The Silent – those who must not be named in commerce

2020 is a pivotal year for various sectors in the commerce industry, and post-2020 is uncertain at best. We are at month five of a new world (I despise the new normal references) as commerce continues to evolve to something new, we are still not talking about specific topics. Retail and online trade is sophisticated, and I wish we would talk about certain supposed hard things more. The silence on these topics makes my head spin.

Asymmetrical Information – The case of lemon cars and e-commerce

According to Investopedia, asymmetrical information or information failure occurs when one party to economic transaction possesses more material knowledge than another party, or they do not have the perfect experience. It typically manifests when the seller possesses greater knowledge than the buyer; however, the reverse dynamic is also possible.

Asymmetrical information

A good example of asymmetrical information is the relationship between a seller and a buyer. Whether it is a car salesman, estate agent, or realtor, or a marketplace, specific individuals always have more knowledge about the asset which they are trying to sell to an individual. The unfair advantage is also visible at a macro level on e-commerce as a sector.

An example of asymmetric information

The Law of Unintended Consequences

As 2020 moves forward, I have been thinking about the unintended consequences related to the COVID19 virus. How it will change our lives is currently unclear. The illness has impacted every sector and activity, and unintended consequences are becoming visible globally. The law of unintended consequences is seen as a building block of economics, but it feels relevant to the current situation seen in the world.

The law of unintended consequences via the impact of regulation and legislation

Governments have done the right thing to protect citizens, but inadvertently forever changed retail, e-commerce, and commerce.