Multi-Channel Retailing Today and Tomorrow
The study mapped what consumers look for and like with against retailers are actually offering and there is a lot of room for retailers to improve. In fact, retail will change more in the next five years than it has in the past 20 years.
1. Personalization and target marketing
When it comes to personalized coupon offers:
- 69% of consumers worldwide would welcome them.
- 73% of shoppers said the availability of electronic coupons is a must-have for them.
- 27% of grocery retail locations provide personalized offers.
- 46% of favorite grocery retailers offer electronic coupons ("favorites" were a specific sub-set of retailers cited by respondents)
- Overall, 35% of U.S. retailers offer them but 80% of American consumers want them.
2. Buy anywhere, get anywhere
Shoppers expect a connected or converged experience. They want to feel like they are dealing with the same business in-store, online, in mobile apps, etc. Brick and mortar stores must embrace that consumers are using technology. For many, the internet has become the shopping channel of choice. Retail has gone from a B2C to a C2B experience.
For each company, all of the pricing strategies, policies and procedures have to look and work the same. The best way to accomplish this is to put the right platforms in to manage the entire ecosystem versus managing all of them individually.
- 78% of shoppers in North America want to purchase anywhere and get merchandise shipped or picked up anywhere.
- 82% of favorite retailers in North America offer the option but 26% did not.
There are some interesting developments happening. Retailers are creating multiple channels for returns. It's good they are doing this because expensive or lengthy return policies and procedures were reasons for not making purchases for 76% of consumers. Retailers have to think about getting creative because there are many opportunities to think outside the box. For example, Sears had a drive-through window for returns after the holidays.