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STEPPING UP AND HUMANISING ECOMMERCE | GOINSTORE & ENVESTORS


Consumers are faced with one key question before making a purchase: should I buy this online, or in person?

Consumers are faced with one key question before making a purchase: should I buy this online, or in person? 

The more familiar and predictable the product, the safer you are buying it from a reputable online retailer. However, the more subjective the experience you will have from a product, the more likely you would benefit from buying in store. 

Baby nappies for instance, buy them online (in bulk) and have them shipped to your door, whereas a mattress, on the other hand, you want to physically try out in order to get an idea of how it will encourage or prevent one’s precious sleep. Shopping instore is an emotional experience; instant gratification from a purchase is an obvious factor, but it is the human connection that is the intangible root of success. 

GOINSTORE merges the convenience of online shopping with the human connection of an instore experience. 

The holy grail of retail is to match the conversion rate of a vast digital traffic to the conversion rate of real bricks and mortar footfall. ‘Consumers’ morph into ‘customers’ and are ten times more likely to 
make a purchase instore. 50% of all online carts are abandoned at checkout, so all the acquisition expenses, (banner ads, search placement etc.), accrued to the point of sale are suddenly, catastrophically lost. The inhumanity of the machine shopping experience enables such guilt- free, sociopathic buying habits, much to the detriment of ecommerce. GOINSTORE creates a human presence, empowers a human shopping experience with an actual human salesman and therefore gives human results. 

Co-founders Aman Khurana and Andre Hordagoda have an impressive ecommerce pedigree. They are both seasoned business development professionals and between them have taken three start-ups through all growth stages. They developed the GOINSTORE immersive live video sales platform where, from the comfort of home, work or on the go, a shopper can be guided around a showroom or store via live one-way video (you can see them, but they can’t see you) and a two-way audio stream. 

‘The reach is huge, fantastic’ explains Andre. ‘Buying a camera, for example. You may need to ask some seriously complex technical questions to make the right, informed choice for the camera best suited to you. At the same time, you might want to ask some subjective questions like is it ‘heavy’ or ‘complicated’. Connecting in real time to a real expert, not only enables you to make the right purchase from a technical standpoint, but connecting to a real person also critically gives you the reassurance you are making the right purchase from a human point of view. By enabling your online customers to access your existing bricks and mortar assets, overheads are drastically reduced; a retailer can acquire customers with the cost per click rather than per square foot. The experience also enables the retailer to upsell, encouraging customers to opt for a better model or for salient materials they might not know they need, like a memory card, a tripod or a spare battery’. 

“We can deliver the feel of an instore visit” 

‘Making this person-to-person connection with website customers’, continues Aman, ‘we can deliver the feel of an instore visit. This massively enhanced experience delivers an increase in brand engagement by humanising the product and increased average order value which brings the online conversion rate up to the heady heights of instore figures. This is a complete transformation of internet shopping, the absolute best of both worlds’. 

Their technology is already multi-award winning and has been proven by their alliance with some global brands. ‘It has been an exhilarating ride and we are still pinching ourselves’ laughs Andre. ‘There has been a buzz around for the past 5 or 6 years as to how to create the instore experience over multiple digital touchpoints. We have cracked it’. Porsche, Dyson and Marriott International, all agree and are promoting GOINSTORE across their networks of subsites. Global, blue-chip brands that see benefits beyond just increased sales, they are also excited by the data analysis of actual recordings with consumers that can help steer beyond training and performance and affect all facets of marketing and even product design. GOINSTORE narrows the gap from brand attraction to ecommerce, from advertising feel to actual product purchase. 

Since their seed round closed at the end of 2016, GOINSTORE have proven themselves to be more than just a good idea. The team have converted trial customers into operating contracts, obtained widespread recognition by global industry bodies and demonstrated a serious commercial value proposition. Following their successful seed funding through ENVESTORS and with these global giants proclaiming that this technology really, really works, they are currently embarking on a Series A round of investment to enable them to keep innovating, scale the business and continue to deliver an excellent product for the next generation of online shoppers by empowering a new generation of online salespeople 

 


This post was created on December 7 2017 by Juliet Brine