Online orders can be returnedfive trillion tons of trash15 million tonnes of carbon dioxide (CO2) annually. While consumer behavior can play a role in this, most online shoppers believe it is the responsibility of retailers to address any environmental damage that returns cause. This is what a new survey online found. Harris PollOn behalf ofThreekitThe product visualization platform.
Retailers should reduce purchase returns
The Harris Poll conducted this survey online in the United States for Threekit between December 9-11, 2019. It surveyed 2,007 U.S. adults 18 years and older. The survey revealed:
- 82% of U.S. online shoppers believe that online retailers are responsible for reducing returns. This is due to the negative effects processing a return can have on the environment.
- 76% of U.S. online shoppers believe they would be more likely to return or exchange their online purchases if the online retailers offered better product details and images.
Preventing Returns and a Hopeful Future
Threekit launched “Visuals Make a Difference” to help online retailers become more sustainable in response to these findings. This initiative offers free visual assessments to companies who want to improve their product experience, prevent items from being returned, and education to retailers about how to avoid returns. Threekit plans to monitor the progress of this year’s efforts and reduce U.S. product return rates by 2 percent and CO2 emissions to 2 percent, respectively.
“More that 64 percent of shoppers return items because they don’t match their expectations or the description,Statista“Yes,” states Ben Houston, Threekit founder and Chief Technology Officer (CTO). We’ve seen our customers tell us that providing better product images can reduce returns by up to 40%. It is clear that the ecommerce sector is failing, and the planet is suffering because of it.
Improved product visuals can help
Interactive 3D, configurations and augmented reality are all recent innovations in imagery. They offer a much more accurate representation than what is usually offered. Most companies don’t invest in newer visuals as they rely on their historical standard of static photos on white backgrounds.
Joachim Klein (COO and president of Threekit) says, “This isn’t about companies using Threekit to solve the problem.” It’s not about us, but rather our unique perspective: Through our work, we have seen how better product visuals can dramatically reduce the company’s ecological footprint. We want to encourage others to do so.
Amazon Accounting49 percentThreekit claims that 31% of all U.S. ecommerce sales are made by the company. This is a significant contribution to the development of higher quality imagery standards. Threekit today calls on Amazon to join the “Visuals Make a Difference” effort. Amazon and all other ecommerce businesses that pledge to the best-in-class visual guidelines would do so.
- Aim for at least 8 images per product page.
- Encourage and support the use of interactive 3D product configurations and customizations on their pages.
- Augmented reality support for furniture and appliances
Annual Report on the Future Of Technology & Media
ActivateActivate Technology and Media Outlook 2020 was released by, a leading management consulting firm in media, technology and entertainment. It is a comprehensive annual report that examines the current state of the Internet and technology as well as the media and entertainment industries. This report is based upon groundbreaking proprietary research.
Activate’s sixth report focused on topics like the next era in social networking, disruptive digital marketplace models, super users, the networked body and many more. 2020 promises to be a crucial year for everyone involved in the dynamic media and tech ecosystem.
“This year, we decided not to only focus our Outlook on the next year but also to look back at past predictions and how they shaped recent trends including the booms in AI, betting and gaming,” stated Michael J. Wolf (Activate CEO and co-founder). “The shared forecasts will have a profound impact on technology and media industries as the year approaches 2020 and beyond.”
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Superusers: The Imperative for Technology & Media Companies
Activate identified ‘Super Users’, people who spend a disproportionately large amount of time, money, fandom, social amplification, and fandom across all activities. This includes video, gaming and podcasts as well as ecommerce purchases. They account for 23 percent of the total population. Technology and media companies face the challenge of identifying and targeting Super User and creating experiences that reach them, capture their attention and allow them to spend time and money.
Social Splinter: Social Media World Expands
There is no one size fits all. People are going to be spending more time on social media and less on the major networks. While time spent on all major social media networks is rising, it’s increasing much faster on Twitter, Snapchat, LinkedIn and Snapchat than on Facebook. People will seek out more authentic, trustworthy, and focused connections as they search for the things that matter most to them, such as gaming, knitting, or cannabis. Activate predicts that by 2023, the average American user will have access to over 10 networks. This is an increase from the 6 currently.
Ecommerce: Shredding the Gap Between Physical and Digital Shopping
Ecommerce will continue to drive global retail growth. It is expected to double to nearly $6T by 2023. This growth will be driven by faster and more flexible delivery options, major social media platforms that act as digital storefronts, renting and resale, and other factors. The divide between digital, physical and consumer will be reduced by ecommerce.
Digital Marketplaces: New inventory, price, transparency, ease of use
The future of services is changing with digital marketplaces. There is great potential for growth. The growth of online service marketplaces will be much faster than the overall industry and create new inventory. The shift will be driven by younger consumers. The adoption of digital marketplaces will grow exponentially once marketplace users have started using them in one vertical.
Video Gaming: The Next Streaming Battlefront
Video gaming will be a growing media segment that is larger than the music, film, and subscription markets combined. It will reach over $170B in 2023. Cloud gaming and streaming will become the future of gaming. This allows gamers to play together across all devices, mobile, console, and PC.
The Future of Esports
Esports are here to stay. Esports will soon surpass major sports in America in terms of audience size and revenue. It is estimated that the global market for Esports will reach $7B by 2023.
Sports betting: The Next Big Financial Trading Market
In the United States, sports betting will increase from $13B in 2023 to $149B in 2023. The betting on sports will take the form of financial trading markets. There are infinite possibilities for wagering, and the outcomes of any game can be manipulated. Institutional investors will be able to participate in the legal sports betting market. They can use sophisticated data sets and artificial intelligence to gain an advantage.
Networked body: Quantified and connected human
Digital solutions that are accessible to consumers will change the way we manage and track our physical and mental health. This sector will grow to $16 billion by 2023 due to growing interest in wellness.
Next Generation Services in Digital Consumer Finance
Traditional finance companies will be able to compete with digital-first consumer services such as Revolut, Lemonade and Affirm. As it continues to draw significant investor interest, this segment will continue to grow.
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