Digital commerce and the future of e-commerce as we know it: Interview with Karl Lillrud
It is often said that the best business people are those who live to solve problems - not just sell products. But sometimes it can be hard to see the wood for the trees. Organisations can struggle to maintain the perspective - or to truly put themselves in the shoes of their peers and prospects. And because of this they miss valuable opportunities to grow.
Karl Lillrud, business coach and professional speaker, has extensive experience in helping businesses remove these blinders. He works with businesses such as H&M, Spotify, AstraZeneca, 3, Tele2, TUI and a host of Fortune 500 companies to convert bottlenecks into opportunities.
He’s helped over a 1000 e-commerce stores increase their conversion rates and spark market growth. And he’s sharing his knowledge on the mainstage at ‘Ecommerce Expo’ during his session on September 28th.
We caught up with Karl ahead of his session to get his sense on the challenges shaping the retail landscape. Here’s what he had to say.
What is the biggest challenge for ecommerce retailers heading into Q.4?
There is every indicator we are heading into recession. And as companies brace for impact, they invariably speed up the process. This is another big challenge in a global market which is still recovering from the impact of the pandemic and more recently the ongoing war in Ukraine.
On top of this you have a strong desire by consumers to spend - contrasted against supply chain issues and rising costs.
It is a unique context for us all to operate in. But, just as there were during the height of the pandemic, there will be opportunity for e-commerce brands to effectively engage customers.
It’s all about supporting their decision making process and providing strong experiences which encourage return business. With Cost Per Acquisition (CPA) running high - loyal customers are the best defence against the looming recession.
What’s the biggest challenge in your category?
Every category will face challenges. Luxury goods are usually the first products to suffer a decline in sales during bleak economic periods - but this may not be the case now.
After a few years of hype around Crypto, NFTs and digital assets - there is a notable return in people investing in physical goods. Just look at the scale of investments in precious metals like gold. Luxury goods from powerful brands also carry this immutable value - and so there is an opportunity for these brands to continue sales as consumers look to protect their cash.
What trends do you see developing in ecommerce over the coming 12 months?
E-commerce businesses around the world are watching their flow of new customers slow down - and generally orders from existing customers are reducing too. The brands that will emerge stronger over the next twelve months are those which craft compelling experiences which foster long term relationships with customers.
Retailers are creating detailed personas and customer profiles which allow for intelligently personalised experiences. Personalisation is a powerful tool for accelerating customer journeys.
Do you think the metaverse will be transformational for commerce and marketing?
E-commerce isn’t just about ordering stuff you can hold in your hands. Over the last few years we’ve seen a growing number of transactions for digital products - such as a SAAS, or NFTs or a Gucci jacket in the Metaverse.
It might seem weird to us that a branded jacket on a virtual avatar would have any value. But it is very normal for our children. Just like in real life, people build personalities and communicate social status through items in these digital environments. And if it matters to people, it matters to retailers.
The rise of the Metaverse is symbolic of a power-shift in retail. Meta, for example, is not forcing users to wander around worlds created for them. Instead, it is empowering users to build the world themselves. Retailers will have to think carefully about how they exist within a digital-mall created by their customers, rather than themselves.
What technological innovations do you think will most help ecommerce in the coming 12 months?
I am a big believer in sensors. Currently I think we are looking at sensors the wrong way. Having an entirely cohesive, genuinely useful smart-home set up is still a long way from being a daily reality for most consumers.
Instead of smart homes, I believe there is an opportunity in specific sensors. Mainly because it is so simple! LEGO made its own OS which empowered its users to create dynamic modules which could sense space, pressure, temperature and more. And with this people could create whatever they want.
So why can’t brands do that? Why does a sensor need to be smart?
There could be a sensor in your rug so it knows when you are up and out of bed - turning on the lights or maybe boiling the kettle. Or a sensor which counts the rotations of a toilet paper roll and orders new rolls when it senses you are nearly out. Amazon Dash was an early example of this thinking.
Though brands will have to bear a short term expense - it seems a powerful way to create huge amounts of returning customers.
Why are face to face conference events like Ecommerce Expo and Technology for Marketing so valuable?
It can feel slightly hypocritical to talk about the importance of F2F at an e-commerce focused event!
But the reality is that many of the ways in which they connect virtually are still quite flat. Zoom and video calls do not yet fully capture or communicate the rich nuances of human interaction. And adding these layers is where the opportunity for the metaverse lies.
I regularly give TED Talks and seminars - both in person and on Zoom - and the difference is stark. It is a challenge to really connect to a big audience on Zoom. There is too much competition for attention - people turn screens off and half-listen while working on something else.
You cannot underestimate the energy that in-person conferences bring - or the powerful connections they inspire.
For more insights into the trends in eCommerce, register your interest in attending or exhibiting at eCommerce Expo in September 2023
Latest News
-
Camilla Mackay-Wilson, Head of E-Commerce, Retail at Soho House, shares her career journey and insights into the world of eCommerce. She discusses her path from Marks & Spencer to leading digital stra ...
-
The 2025 eCommerce Awards are now open for entries, and the search for the industry's best is officially on.
-
Martina Guizzardi, Global Senior CRM & Loyalty Lead at Oner Active, shares key career lessons, consumer insights, and strategies for building lasting customer relationships.
-
eCommerce Expo is delighted to introduce our newly formed 2025 Advisory Board – an impressive assembly of eCommerce visionaries poised to transform the event landscape.
-
Have we got our eCommerce back?
25 Feb 2025 Andy Mulcahy, Strategy and Insight Director, IMRGAfter years of decline, eCommerce is showing signs of recovery. What’s driving this shift, and is the industry finally bouncing back? -
How Did eCommerce do in 2024?
27 Jan 2025 Andy Mulcahy, Strategy and Insight Director, IMRGAndy Mulcahy, Strategy and Insight Director at IMRG, reflects on the challenges and growth patterns of eCommerce in 2024, highlighting sector winners, market shifts, and what lies ahead for online ret ... -
Introducing Growth Summit 2025 – The Premier Invite-Only Event for Senior Retail Leaders
27 Jan 2025We are delighted to announce the launch of Growth Summit 2025, an exclusive, invite-only event taking place on 24th September 2025 at ExCeL London, brought to you by eCommerce Expo and IMRG. Designed ... -
Discover how Frankie Thorogood built and scaled multi-million-pound eCommerce brands, navigated challenges, and learned invaluable lessons in entrepreneurship. From risk-taking to resilience, get insi ...
-
2024 in Review: eCommerce and Marketing
18 Dec 2024The ever-evolving world of eCommerce and marketing has seen transformative shifts this year. Here's what stood out in 2024.... -
So, Black Friday – Was It Any Good?
12 Dec 2024 Andy Mulcahy, Strategy and Insight Director, IMRGBlack Friday 2024 showed positive revenue growth, marking the first uplift since 2020, but traffic remained subdued, dampening the overall success. Year-on-year comparisons were skewed due to the timi ... -
Black Friday 2024: A Test of Nerve
25 Nov 2024 Andy Mulcahy, Strategy and Insight Director, IMRGRetailers are gearing up for the biggest sales event of the year, but with shifting dates and unpredictable shopping habits, it’s a rollercoaster ride. Andy Mulcahy, Strategy and Insight Director at I ... -
November 2024 in Marketing and eCommerce
25 Nov 2024 Lily Tokmantseva, Head of Marketing & Content - eCommerce Expo, Technology for Marketing and IMRGBite-size updates on what happened in marketing and eCommerce this month, to keep you ahead of the curve and inform your campaigns. -
How to Grow Your Small Business on TikTok and Instagram with Ramona Gohil, Founder of Rani & Co
25 Nov 2024 Laura Dazon, Senior Content Marketing Executive at CloserStill MediaIn this exclusive interview, we sit down with Ramona Gohil, founder of the feminist jewellery brand Rani & Co. From humble beginnings to TikTok-fuelled success, Ramona shares her journey, insights int ... -
Whisper It…but eCommerce Might Just Be Back
30 Oct 2024 Andy Mulcahy, Strategy and Insight Director, IMRGECommerce has been in the doldrums for a few years now, with negative revenue growth, lower conversion and dips in site traffic becoming an accepted part of market conditions; that has been the post-p ... -
Zaria Parvez: Senior Global Social Media Manager at Duolingo – Creativity, Community, and Social Media Strategy
11 Sep 2024 Laura DazonMeet Zaria Parvez, the mastermind behind Duolingo's viral social media success, who grew their TikTok from 50K to over 11M followers. Discover how she transformed Duolingo into a social-first brand, c ... -
Is The Future of eCommerce Looking a Bit Brighter?
10 Sep 2024 Andy Mulcahy, Strategy and Insight Director, IMRGIf you are a regular reader of this column, you’ve probably gotten used to the updates often containing news that don’t paint a great picture of eCommerce performance. But I’m just the messenger! I ca ... -
Meet Adam Ull, Global Product Information Lead at H&M, who is transforming commerce by using data and AI to enhance customer experiences across digital channels. He discusses building agile systems an ...
-
In the ever-evolving world of eCommerce, UK merchants must adopt strategic approaches to ensure sustainable growth both at home and abroad. In our recent webinar featuring Emily McMorran, CX Lead at w ...
-
5 Top Tips for Speaking at eCommerce Expo & Technology for Marketing
21 Aug 2024 Alyssia Smith, Senior Content Manager at CloserStill MediaSome essential tips to help you deliver an impactful presentation with Alyssia Smith, Senior Content Manager at eCommerce Expo and Technology for Marketing -
A new source of information for businesses wanting to expand and increase their customer base.
-
Health & Beauty: A Bright Spot For eCommerce
30 Jul 2024 Andy Mulcahy, Strategy and Insight Director, IMRGWhat a miserable year it’s proving to be for eCommerce. Revenue has performed well below expectation, site traffic overall has seen barely any growth in 2024 so far and conversion remains suppressed. ... -
LeMieux's Head of eCommerce On International Expansion Strategies
28 Jul 2024 Laura DazonShaun Loughlin, Head of eCommerce at LeMieux, shares his 20-year journey in retail and eCommerce, emphasising international expansion strategies. -
Building Strong Partnerships Between Retailers and Marketplaces for Excellent Customer Service
27 Jul 2024Discover how Deliveroo enhances grocery delivery by partnering with retailers, offering logistics, and advanced tech integration, ensuring fast and reliable customer service. -
Is Discounting Usage Intensifying in eCommerce?
26 Jun 2024 Andy Mulcahy, Strategy and Insight Director, IMRGExplore how increasing discount usage in eCommerce is impacting revenue growth in 2024. Discover the trends, challenges, and strategies retailers are employing to navigate tough trading conditions. -
How Big Bus Tours and Oban International Embraced Search Tech To Bounce Back Bigger and Better
26 Jun 2024Big Bus Tours transformed its digital marketing amid COVID-19, leveraging local insights and tech innovations. The result? Increased revenue, higher click-through rates, and record-breaking digital pe ... -
2024 eCommerce Awards – Finalists Announced
26 Jun 2024We are thrilled to reveal the initial category finalists for the 2024 eCommerce Awards. -
Your Month in eCommerce and Marketing
26 Jun 2024 Lily Tokmantseva, Head of Marketing & Content - eCommerce Expo & Technology for MarketingBite-size updates on what happened in marketing and eCommerce this month, to keep you ahead of the curve and inform your campaigns. -
Meet SJ, AllSaint's Global Leader in CX, Fraud & D2C, as she tells you more about implementing AI at a major British fashion retailer, as well as strategies for payment security and fraud prevention
-
UK eCommerce in 2024: Struggles, Bright Spots, and Hopes for Recovery
29 May 2024 Andy Mulcahy, Strategy and Insight Director, IMRGThe UK eCommerce market has underperformed in 2024, with actual revenue growth consistently below forecasts, though some sectors like health & beauty show resilience and potential for improvement. -
Insights on the transformative impact of generative Artificial Intelligence in eCommerce from daily applications to long-term implications.