NetworkNewsWire
Editorial Coverage: With the number of mobile shoppers
increasing every day and e-commerce continuing to gobble up more
and more of the $22 trillion-plus global retail market,
gamification is emerging as a highly effective conversion
technology for turning web app visitors into loyal customers
through the use of entertaining game design features.
- E-Commerce has high growth rate and considerable room to
grow
- Customer conversion tech such as gamification spreading fast
due to efficacy
- China and Asia-Pacific have highest e-commerce growth
rates
DeepMarkit Inc. (TSX.V: MKT) (OTC: MKTDF) (MKTDF
Profile) is at the forefront of the trend toward
gamification for e-commerce with offerings such as the recently
released multiplatform slide-out app Gamify, which helped
accelerate month-over-month growth of the company’s merchant base
by 61 percent. Shopify, Inc. (NYSE: SHOP) recently
released Shopify Ping, a message consolidation app for iOS that
unifies messaging from social media, email and other sources with a
merchant’s online storefront to create a seamless real-time
conversation space. E-Commerce giant Amazon.com, Inc.
(NASDAQ: AMZN) reportedly handled 44 percent of all
e-commerce sales in the United States last year (4 percent of all
retail), according to One Click Retail. In addition, a recent
Alpine.AI and InfoScout study shows the company pulling down 8
percent higher sales from owners of the company’s gamified and
Alexa skills-enabled Bluetooth speaker, the Echo. Often called the
Amazon.com of China, Alibaba Group Holding, Ltd. (NYSE:
BABA) has some 552 million active users via Taobao and
Tmall, and the company has established a nice relationship with the
Chinese middle-class consumer with offerings such as the augmented
reality shopping game “Catch the Cat,” which launched last Singles’
Day (November 11) at the 11.11 Global Shopping Festival. Alibaba’s
up-and-coming rival JD.com, Inc. (NASDAQ: JD), via
partnership with Tencent’s (OTC: TCEHY) multipurpose messaging,
social media and mobile payment app WeChat, has also seen major
success in this general area with group-buying platform Pinduoduo’s
gamified shopping app sweeping the platform. Pinduoduo recently
filed for a $1 billion U.S. IPO.
E-Commerce Driven by Mobile Proliferation, Especially in
Asia
While e-commerce’s chunk of the retail market grew around 1.6
percent last year to make up 10.2 percent of the global retail pie,
the Asia-Pacific region handily outstripped the baseline, with 14.6
percent of retail in that region being attributable to e-commerce
spending. Overall, global e-commerce grew by 24.8 percent last year
to just over $2.3 trillion on the strength of mobile technology
proliferation, with m-commerce now representing just shy of 60 percent of digital sales.
China alone was just over 67 percent of global m-commerce last
year, owing in large part to the massive mobile-first internet
audience. With over half the country using mobile internet and a
whopping 97.5 percent of
internet users having employed a mobile device to get online,
it is little wonder that m-commerce sales are expected to triple in
China by 2021. Gobbling up the retail pie at an amazing rate,
e-commerce still has a ton of room to grow at only approximately 10
percent of overall retail sales; the China e-commerce boom in
particular looks set to steam on mightily. The country rocketed
past the United States in terms of overall retail sales in 2016 and
continues to dominate the e-commerce landscape, with over $1.149 trillion in online sales last year. In
addition, there will be an astonishing 1.3 billion smartphone users in China before the year
is out, a telling statistic that colors the potential for
gamification in retail.
Gamification Done Right Is Key
DeepMarkit Inc.
(TSX.V: MKT) (OTC: MKTDF) appears to be on the cutting
edge of smart customer conversion technology with offerings such as
the company’s advanced, highly customizable slide-out Gamify app,
which launched for free on Shopify in February. The app has
subsequently become available on fast-growing e-commerce platform
BigCommerce, as well as seeing incarnation as a plug-in for
WordPress. An arguably slick-looking gamification platform for
e-commerce sites, Gamify is a real testament to DeepMarkit’s
constant drive toward developing new and compelling ways to engage
audiences such as the retail consumer.
Gamify has been winning over merchants due to ease of setup, the
multiple brandable game types available and the ability to offer
enticing, tailorable rewards using custom odds. As is evident from
the demo, gameplay and potential rewards are
made accessible to the user upon simply supplying an email address.
Such approaches to the implementation of gamified customer
conversion technology have seen great successes in recent history
and are continuing to find favor due to their readily observable
efficacy. A key element in all of this appears to be an inherent
human compulsion to play games and solve puzzles, due in part it
seems to the kinds of direct cognitive and
creative benefits such activity can produce.
Why Gamification Works, Particularly in
E-Commerce
Gamify puts an intuitive reward game front end on the digital
shopping experience. The platform does so in a world of
increasingly prevalent e-commerce as a means of consistently
converting visitors into entries on the mailing list, as well as
new checkout orders. Giving people the chance to win a prize they
can apply to merchandise they were likely thinking of purchasing
anyway helps create a greater sense of added value for
consumers.
Receptivity to Gamify among merchants has been robust,
generating positive feedback about the platform’s demonstrated
capacity to rapidly increase email generation and build better
customer relationships through more meaningful interactions. The
company’s merchant base growth outside North America, combined with
extremely positive overall customer feedback on the EU’s General Data Protection Regulation (GDPR)-compliant
Gamify solution, has set up DeepMarkit nicely to fully exploit the
recent $1.5 million private placement from Hong Kong-based software
solutions provider Allstate Enterprise.
The DeepMarkit team is reportedly hard at work developing what
users have asked for, with more games, gamified surveys and an even
richer feature set to be launched with the paid version of the app
coming out in coming months. Gamify currently supports full
customization of all text fields, making the solution a perfect fit
for multilanguage deployment around the globe. Hence the recent
partnership with ITN International, which works directly with
corporate event producers, marketing agencies, tradeshow managers
and exhibitors across six continents.
A top mobile NFC and cloud-based event solutions provider that
services upwards of 15,000 exhibitors and 1.5 million attendees
each year, ITN was a natural choice for DeepMarkit to partner with
in a joint marketing agreement because of its status as a trade
show data capture and analytics heavyweight. Through 125 events a
year and some of the biggest trade shows around the globe,
DeepMarkit’s innovative platform solution is acquiring quite an
audience. The two companies are currently integrating the platform
into ITN’s exhibitor portal, where it will be promoted by ITN and
made available for purchase.
Broad-Spectrum Gamification at the Heart of Future
Retail
Whether they are trying to drive consumers to the digital
shopping basket or entics web surfers to visit a brick-and-mortar
location, e-commerce entities are embracing the full spectrum of
gamification in order to advance customer retention and build brand
identity.
JD.com, Inc. (NASDAQ: JD) is confidently
banking on m-commerce and even online-to-offline conversion, as
evidenced by the company’s upscale 7Fresh Chinese grocery stores’
heavy use of QR codes, electronic shelf labeling and RFID-driven
info tags and readers. The $550 million strategic partnership/cash
investment from Google in mid-June leverages JD’s supply chain and
logistics expertise nicely, as well as its strong ground game in
Asia. The strategic investment sets the companies up for retail
ecosystem building that will reportedly lead beyond Southeast Asia
into the United States and Europe.
Alibaba Group Holding Limited (NYSE: BABA),
which posted a 56 percent increase in third-quarter revenue and
recently displaced International Business Machines (NYSE: IBM) in
cloud computing prowess, holds about 51 percent of the Chinese
e-commerce market (compared to JD.com’s 33 percent or so). The
company’s sheer scale, number of products and influence has made it
a one-stop shop for top brands. This is important
to remember considering the recent data from China's National
Bureau of Statistics showing online retail sales hit $205.8 billion
for the first two months of 2018, soaring 38 percent from last
year’s figure.
Amazon.com, Inc. (NASDAQ: AMZN), which some
analysts are starting to refer to as the American Alibaba, is still
arguably the most influential global e-commerce player and
seemingly still has the power to set the tone when it comes to
gamification. Estimates by Alpine.AI of around 50 million
Alexa-enabled devices sold puts a bold underline beneath the
growing body of evidence showing Echo owners spend more. It may not
seem like an immediate connection to think of Echo as a virtual
intelligence with a gamified personality that is fun to interact
with, but sales numbers don’t lie. Again, one of the real strengths
of this company is the sheer number of products on offer, something
which allows brands to feel confident they are reaching the largest
possible audience.
Shopify, Inc. (NYSE: SHOP) also makes good use
of the power of size to draw in new brands. A recent article in
Investor's Business Daily expressed well how emergent
brands are building foundations on Shopify, even as more
established brands continue to gravitate toward the
e-commerce venue. The spread of Shopify to 600,000-plus
merchants in more than 175 countries means the company does a lot
of turnover setting up e-commerce sites for small businesses all
over the world, a trend that has been a real boon for gamification.
Shopify even provides a good amount of educating online retailers
about the benefits of gamification with Shopify Blogs on the
subject.
Gamification helps merchants establish a rapport with customers
and drive visitor conversion, resulting in a better, data-driven
understanding of the end users. Simultaneously, gamification can
juice already compounding growth in e-commerce by involving
customers in a participatory reward loop that gives them a sense of
earned and added value, typically before a purchase is even
made.
For more information on DeepMarkit Inc., please visit DeepMarkit Inc.
(TSX.V: MKT) (OTC: MKTDF)
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