What's xCommerce and why is it so important?

We’ve been using the word xCommerce a lot lately. We’ve been writing reports on the state of it and showcasing solutions, but what exactly is xCommerce, and more importantly, why should you, as a retailer, care about it?

Basically, by “xCommerce” we mean the wide spectrum of technology that stands behind in-store and online commerce experience - ranging from mobile, kiosks, PoS, IoT, connected homes, cars, voice, AR/VR, and many other innovative use cases that will usher in the next wave of commerce and enable better consumer engagement.

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So why should you care? Because today’s commerce is unique, and is only partially driven by demand. The other major part is consumer and their complete journey from discovering the product and the need to have it, to buying it and endorsing it to their friends.

Consumers use technology to interact with brands, and it is retailers’ responsibility to reach out to their customers through multiple channels. This is no longer an expectation, it’s a reality.

Almost 50% of people use 3 touchpoints when making a purchasing decision.

State of xCommerce Report

The challenges of today's commerce

Today’s consumers are aware of their power over commerce. That’s why they demand engaging experiences, both in-store and online. Their loyalty is fleeting and so the timing is everything. If you fail to delight your consumer right there at the moment of interaction with your brand, you may lose them forever. xCommerce use cases are emerging as the best way to deliver on such high expectations. xCommerce bridges digital and in-store world, and extend beyond the traditional eCommerce browser experience.

Innovative xCommerce use cases will usher in the next wave of commerce, and enable better consumer engagement

TV

With tvOS support, let your customer buy directly via their smart TVs.

PoS

Seamlessly connect online and offline customers via one unified system.

Wearables

Make wearables shoppable to connect with your customers anytime and anywhere.

IoT

Enhance the customer experience by merging the online and offline worlds.

VR/AR

Immerse your customers in a virtual shopping reality to revive your in-store activity.

How to be a retail winner?

Consumers expect frictionless, experiential, easy and enjoyable shopping experiences. Winners in this space are the brands and retailers who are evolving to meet these new customer expectations. Losers in this space are those who are more complacent and who are ignoring trends. Instead, they’re maintaining the status quo, and are not able to experiment with some of the trends consumers are most excited about.

How to be prepared for every commerce scenario?

According to Gartner’s Hype Cycle for Digital Commerce, there are high expectations for API-based commerce, as retailers makes strides in putting their store experiences into a customer-centric context. Gartner recognizes the power of consumers who drive the way they want to shop (what Garner calls C2U, or “Commerce to you”).

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Use the power of APIs to your advantage!

Disrupt retail with your unique Open Commerce Architecture

API-first solution is a very critical and very first step to truly embrace xCommerce. APIs allow you to react faster to technological changes, and implement solutions in incredible speed-to-market. But speed is just one of many factors shaping retail winners.

What you also need is:

Flexibility to create unique, highly customized experiences

Consistent customer journey through every channel

Total control over the data structures, logic, and workflows

Seamless integration with any third party service

Webhooks to notify your applications and integrations in real time

In other words, you need the Open Commerce Architecture

Why? Because the Open Commerce Architecture that has the ability to adapt to every commerce scenario and business requirement you may need to cater for.

What does Moltin have to do with the Open Commerce Architecture?

Moltin was created to enable the future of xCommerce and is focused on the ever-changing pace of consumer behavior. We provide commerce innovators with the ability to use the Open Commerce Architecture solutions to develop on top of existing commerce and corporate technologies. Unlike other platforms, it takes weeks, not months, to implement the APIs and solutions with Moltin, giving retailers the unique ability to turn new experiential ideas into reality and the flexibility to build fast, test quickly and adapt as necessary.

If you’re looking to supercharge your digital commerce strategy and join the ranks of retail winners, we would love to chat with you about how Moltin can help. You can start a free trial or get in touch with a solutions specialist at moltin.com