Industry Lead on Fashion and Luxury retail on Facebook and Instagram, Bora Chow shared her expert insight with the Underfashion Club at the Harvard Club of New York in her presentation “Consumer Behavior & Expectations in a Mobile First World”!
Bora has been at Facebook for about three years. Prior to joining Facebook, Bora spent a majority of her career in the publishing industry and most recently, she was at Vogue for five years, helping them grow from the one magazine platform to 10 different platforms. At Facebook, Bora consults with leading fashion and luxury retailers on their mobile and social strategy and how to execute a customer centric approach across Facebook’s family of apps.
The in-store retail experience hasn’t really caught up with the rapidly changing consumer behavior. Smartphones and the Internet are causing disruption across all industries. New startups are completely changing the brick and mortar landscape. Today, mobile is not a choice for marketers. It’s an imperative.
Consumer Behavior on Mobile
By next year, mobile will surpass television on time spent. Millennials lock their phones 150 times a day. They’ve coined a new phobia: FOBO (Fear Of Being Offline), highlighting just how essential it’s become to be online. 64% of people are accessing mobile devices while shopping to learn more information about a product. 90% of all time spent on digital is spent on apps, and 90% of that time is split between top 5 apps. These apps are Facebook, Instagram, Messenger, Spotify, and YouTube.
As a result, the consumer is in the driver’s seat with a newfound sense of control, expecting all things to be brought to them with the click of a button. We are now always shopping, creating an opportunity for companies to be always present in the consumer’s life by being where she spends so much time.
Mobile Storytelling on Facebook
Fashion and luxury brands of the past dictated trends as consumers wanted to mirror those values seen in magazines. Today, to be exclusive is to be inclusive. Consumers will choose brands that create bespoke and personalized experiences and those that fit into their personal values. As a result, businesses are releasing so much more variety to address the personalized needs of their diverse consumer pool.
Creating content for mobile has become a new discipline for creative directors today. When producing video content for your brand, ask yourself if your content is passing the “three-second audition.” As people’s attention span is getting shorter due to mobile, today’s challenge for marketers is to earn peoples’ attention. To learn more about how to optimize your content for Facebook, please check out the Blueprint courses here.
To be a relevant and a competitive business today, mobile and the customer should be at the center of our business decisions. Your competitive advantage is driven more by your creativity than your budget. The more you create, the more you learn. Be open to testing, learning, and iterating for today’s fast-paced, mobile first world.
See more photos from the evening on Facebook!