"California Is Our Only Hope"

Future Commerce Podcast: eCommerce, DTC and Retail Strategy

• Episode: "California Is Our Only Hope"
• Website: Future Commerce Podcast: eCommerce, DTC and Retail Strategy
• Feed URL: https://rss.simplecast.com/podcasts/2042/rss
• Duration: 00:50:02
• Published: 2018-10-09 13:00

Main Takeaways:

• California bans bots from pretending to be human.

• Finally, brands are getting on board will real-size fashion.

• Brian and Phillip banter over "chose your own ending" episodes.

California Passes Law to Stop Bots From Behaving Badly:

• Bots have earned themselves quite a nasty reputation lately. Sneaker bots specifically have people (especially Phillip) aggravated with how they buy up sneakers, forcing sneakerheads to purchase sneakers after the fact at ridiculous prices.

• Retailer KITH got themselves in a not great situation after they tricked sneaker bots into purchasing the wrong sneakers (they were looking for the Nike OFF-WHITE Air Prestos) and customers who spent a lot of money are all kind of angry.

• California passes a law that bots must present themselves as such, sending brands a signal that they can't automate everything.

• Phillip makes a point that this will add another complication to users.

• The good news about this law is that it will prevent more reputable business from using bots poorly.

• Possible bot opening line after new law: "This is not a real person...... yet.

Will Walmart's Latest Acquisitions Breathe New Life Into Their Brand?

• Walmart has always been seen as this lower quality brand, not being able to compete against other low-cost retailers like Target. Target markets itself as an affordable retailer for people who are both fashion, and wallet-conscious.

• However, it looks like Walmart is stepping up its style game.

• Walmart has also been picking up a lot of popular brands lately, outdoor retailer Moosejaw, vintage woman's retailer ModCloth, menswear retailer Bonobos, and now plus size brand ELOQUII. Will these popular brands find their way into a Walmart near you?

• Brian suggests that perhaps instead Walmart may merge some of these brands into a better "in-store" try on experience.

• Also noteworthy: The acquisition of ELOQUII as well as Bonobos expanding into "big and tall sizes" (ModCloth also offers sizes up to 4x) is pointing to a changing market. People come in all shapes and sizes, and retailers are beginning to honor that. Everyone should have access to clothing that looks good, and fits well.

• In fact a CoreSight report points to this.

Choose Your Own Adventure Episodes: Flashback to the 80's:

• Phillip and Brian get into a heated Twitter debate about interactive content.

• Brian is definitely not a fan of "choose your own adventure" books from the 80's.

• Phillip contrasts them to video games, where you have to take the road less traveled repeatedly until you win.

• Why this is relevant: Netflix announced recently that an upcoming episode of sci-fi series "Black Mirror" (Netflix purchased the rights to Black Mirror in 2015) will contain an interactive element that will allow users to choose their own ending.

• According to Bloomberg, "Netflix is planning a slate of specials that will let viewers choose the next storyline in a TV episode or movie". And it totally makes sense that Netflix would be the first streaming service to venture into this kind of content because they have control over both the delivery and production.

• Regardless of whether Netflix's foray into this kind of content is successful, this move undoubtedly displays innovation on Netflix's part.

• If this is successful, who will be next to capitalize on this market? Possible contenders: Amazon, Disney, HBO.

• Apparently, this has all already been done.

This World Does Not Belong To You: You May Not Even Own Your Face.

• A viral tweet from iTunes user Anders G da Silva revealed that Apple is removing supposedly permanently purchased content from user libraries.

• This may be the beginning of all of us needing to acknowledge that we don't really own anything, and permission for this is probably buried deep into Apple's terms of service agreement that no one ever reads.

• Also, is permanence overrated? With companies like Rent the Runway and Turo making headway, maybe so.

• According to Philip (who is being super foreboding this entire episode): With the future in digital, one day your HOA may be able to keep you from your garage if you haven't paid your fees.

• JetBlue has decided to launch the first ever biometrics terminal in Atlanta. Is anyone concerned with what they do with the images afterward?

• The FBI force a suspect's to open his phone with the Face ID feature, thereby allowing the agent to search through messages, and whatever else was on the phone.

Are private companies becoming more "Big Brother" than the U.S Government?

Letting Private Companies Make Our Financial Decisions: Yay or Nay?

• Petal, a financial tech company, has introduced a no-credit-needed credit card, where they use your financial history to determine terms.

• Cool features alert: this credit card has no fees(annual, overdraft or late fees), no deposit requirement, and a mid-range APR among other things.

• According to Nerdwallet, The company uses your income and liabilities taken through access your bank statements and financial history to determine creditworthiness

• This definitely opens up a conversation about financial accountability, and whether the private sector is a good place to help consumers make better choices about how they spend their money.

• Brian breaks Phillip's brain: Imagine a world where people don't have to make any decisions about their daily lives. Where everything can be taken care of through a subscription service. Clothing will be refreshed every season, and on budget, interesting meals will be both healthy and affordable, and no one will ever have to worry about anything. (Does this sound like a dystopian novel to anyone else)?

• Also sounds like something Amazon would love to deliver to customers.

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Retail tech is moving fast, and Future Commerce is moving faster.