Digital Folio is a brilliant new digital shopping concept that allows users to easily track the prices of products from major retailers. By way of a browser plugin, the shopper simply drags the product into the sidebar, and a quick search generates the price of the product at other retailers.
Digital Folio works with companies such as Amazon, Walmart, BestBuy and Sears. Products like this that track the price of products across the web force companies to keep prices competitive or else lose shoppers.
Implications - Digital shopping has the potential to augment and surpass the traditional shopping experience. The comparative tool by Digital Folio offers users an enhanced experience with the ability to save money. Companies should take this into consideration with their own online stores.
Clever Comparative Shopping Sites
Digital Folio Tracks Prices from Major Retailers
Trend Themes
1. Comparative Shopping Tools - The use of digital tools that allow users to compare prices across retailers can disrupt traditional shopping and force companies to stay competitive.
2. Augmented Shopping Experience - Digital shopping tools like Digital Folio offer an enhanced experience that traditional shopping can't match, offering opportunities for innovative experiential retail solutions.
3. Personalized Digital Shopping - Digital shopping tools that track and suggest product prices based on users' preferences can optimize the shopping experience, providing opportunities for personalized marketing and targeted advertising.
Industry Implications
1. E-commerce - Comparative shopping tools like Digital Folio will force e-commerce companies to keep prices competitive and enhance the overall digital shopping experience.
2. Retail - Retail stores can use digital tools to create an experiential shopping experience that enhances traditional in-store shopping, adding value and differentiation against online shopping.
3. Marketing - Personalized digital shopping tools provide targeted opportunities for marketing and advertising, increasing sales and customer loyalty.