Payments

The Apple of TV Commerce Could be Apple Itself

MEDICIFounder and Chief Strategy & Innovation Officer

Last night dear friend and Apple Pay expert Brian Roemmele tweeted this:

Tweet_Brian 1

He is almost always right. And we would come to know more on September 9th in the Apple product launch event. This is a subject we have been doing research on since few years now. And I can't stop myself from sharing our perspective on this topic. So let's begin with this infographic.

TV commerce_1

TV commerce is difficult. The attempt has been to make the consumer TV buying experience more fluidic. But so far no attempt has succeeded and needed an Apple-level effort. 

1980 – 1985:

- Infomercials proliferated in the United States after 1984 when the Federal Communications Commission eliminated regulations that were established in the 1950s and 1960s to govern the commercial content of television

2000 – 2005:

- In 2001, NBC's Will and Grace invited viewers to visit NBC.com at the end of the show and buy a $52 T-shirt like the one worn by actress Debra Messing in that episode. Within 18 hours, 3,000 people had gone online and purchased the shirt

2005 – 2010:

- In 2008, TiVo teamed up with Amazon.com in 2008 to allow subscribers to use their remote controls to buy new books featured on "Oprah."

- In 2010, Smart TV was introduced which helped users to buy through remote

2010 – 2015:

- In 2011, shoppers were able to buy product through TV via remote control

- Grey's Anatomy Sync for iPad was released in 2011 which was the first mainstream second screen sync app

- In 2014, t-commerce campaign is tried in Super bowl

Questions are many - Have consumers adopted it? is it ever going to be mainstream?

e-commerce started in 1992 and it took 11 years to reach 1st inflection

m-commerce started in 1997 and it took 10 years to reach 1st inflection

t-commerce has started in 2008 and we estimate that it will take 9 years to reach 1st inflection point...more to follow! 

Amit Goel

MEDICIFounder and Chief Strategy & Innovation Officer

“Amit Goel is the Founder & Chief Strategy & Innovation Officer for MEDICI. Amit’s vision is to build a strong FinTech market network that involves financial institutions, banks, startups, investors, analysts & other key stakeholders across the ecosystem – helping each one of them in a meaningful way by removing the asymmetry of information and providing a platform to engage & transact.\ \ Amit is passionate about bringing actionable FinTech-focused insights, innovative products & services for the FinTech ecosystem. Some of his work involves startup scores, bank scores/assessments, predictive viewpoints & other innovations that have helped MEDICI’s customers and the ecosystem. He has been named amongst the Top 100 FinTech thought leaders/influencers in the world & Top 10 in Asia multiple times by reputed agencies, consulting firms as well as financial institutions. Amit has built MEDICI (formerly LTP) as a new-age, tech-enabled advisory/research firm, which is now considered the #1 global research & innovation platform for FinTech in the world.\ \ Amit has been writing pioneering viewpoints on financial technology space that have been ahead of the curve since 2010. His data-driven predictions have helped the customers as well as the ecosystem. His past work experience includes a strong background in strategy & market analysis and advisory to clients (from big business houses to Fortune 500 firms) in payments, commerce, financial services & IT/technology. In the past, Amit had also founded a successful consulting & research practice called GrowthPraxis and has worked at Boston Analytics, Frost & Sullivan, and Daimler Chrysler in strategy & research.”