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Omnichannel Retail: Trends From the Holiday Shopping Season

* Tis the Season for Omnichannel Retailing Mobile, desktop, in stores: today's shoppers browse and buy in increasingly fragmented ways, and this holiday season, shoppers are more channel-agnostic than ever. 2$ %24 Black Friday was a case-in-point. Amazon dominated of all 35% transactions. e-commerce sales, accounting for Percentage of Total E-commerce Black Friday Spending 35.7% BEST BUY 8.23% *macys 3.38% However, 4 of the top 5 e-commerce sellers were Walmart 3.35% traditional retailers. NORDSTROM 3.11% Source: Slice Intelligence Most Holiday Retail Sales Are Now Influenced by Digital Channels Deloitte forecasts that retailers will see $965 billion in sales this holiday season. While e-commerce and other non-store sales are projected to grow by 13.9% over 2015, they'll still only make up 9% of total sales. 9% Non-store sales However, digital interactions are projected to influence 64% of all in-store sales, equivalent to $434 billion. 91% In-store sales 64% In-store sales influenced by digital interactions 2015's numbers are on-trend, as digital channels have a growing influence on in-store purchases. 2014 54% 2013 of consumers browsed on a mobile device before purchasing. 34% of consumers browsed on a mobile device before purchasing. of that 34%... of that 54%... 42% 58% 53% 47% purchased via laptop or mobile purchased via laptop or mobile purchased in-store purchased in-store Signal's holiday shopper survey found that 67% intend to browse for holiday gifts more frequently on a smartphone or tablet this year than in 2014. What does the Omnichannel Shopper Expect? 91% of customers want to pick up where they left off when they switch between channels. 50% STORE M PICK-UP expect to be able to buy online and pick up in-store. Imagine a seamless omnichannel shopping experience... A friend buys a snowblower from a national home improvement retailer and shares a link to the product on Facebook. You check it out via that link. The next day, you're shown the same snowblower immediately when you return again to the retailer's website on your tablet. Considering a few different models, you visit the nearest store location. Your phone connects to their Wi-Fi network, notifying a sales associate who shows you the models you've been browsing. You choose one. After clearing your driveway a few times, the retailer sends an email to confirm you're happy with the product. You click to call customer service with a question, which they're able to answer without requesting an account number. Common Frustrations for Omnichannel Shoppers 44% 22% Problems with staff including lack Ease of use for things like comparing products or prices, and purchasing or returning items. of knowledge and availability. * How Retailers are Competing for Omnichannel Shoppers' I.. ... deliv •. When Amazon announced same-day delivery, some predicted it would kill traditional retailers. In response, retailers have contracted with startups like Deliv or Postmates to offer same-day delivery in key markets. Amazon O Seattle Tacoma O Deliv Boston Chicago Philadelphia O NYC (Parts of NJ) San Francisco • Baltimore Indianapolis D.C. Bay Area Las Vegas Los Angeles O Phoenix San Diego Atlanta Orange County O Dallás Fort Worth Honolulu Houston Tampa Bay • Ft. Lauderdale Miami Consumer interest in same-day delivery is "fairly high" according to BI Intelligence, especially among urban-dwelling millennials. 64% 92% of online shoppers cite shipping speed as important in purchasing decisions. however, report that they would rather wait four days or longer than pay extra for same-day delivery. 52% of millennials prefer to buy books in physical stores. Amazon entered the physical retail space in November, opening a book store in Seattle. -45% 28% II The move may be a of millennials discover discover books by response to declining Kindle sales. books by word-of-mouth. browsing in-store. Michael Kors was one of the first MICHAEL KORS luxury brands to show in-store inventory online-a feature that -82% The company also allows customers to return any Michael Kors items to any store, whether they were purchased of digital consumers online or at a third-party department store. find useful. On schedule to have 19 physical locations WARBY PARKER open by the end of the year after opening the company's first physical location in 2013. eyewear 30-50% of the company's in-store shoppers were initially unlikely to make a purchase online. However, 90% of those who shop in-store have visited the website; in-store shoppers will then make a second or third purchase online. Credit Suisse called out The Home Depot as one of the winners of Black Friday 2015, describing the holiday as "the most omnichannel yet." THE The Home Depot has opened dedicated online fulfillment centers +90% DEPOT in Ohio, Georgia and California, which enable the company to deliver of online orders in two days or less. Barriers to Omnichannel Adoption of retailers involved in a recent study reported that 94% they had faced Significant barriers to becoming an integrated omnichannel retail company. An eMarketer survey found that fewer than 1 in 5 u.s. retailers have fully synchronized their omnichannel strategy. ONLY 45% of retailers cited omnichannel marketing as a top business goal for 2015. Key Integration Challenges Facing Retailers Sharing customer data and analytics Integrating back-office technology Training for in-store associates across channels, countries or locations Despite these challenges, the omnichannel shopper is worth catering to. Omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel. 73% of consumers say they are likely or very likely to visit a local store if the retailer provides in-store product availability information. i Only 36% of customers would visit a store if no inventory information was available online. 88% of retailers say that shipping from their retail locations has improved customer satisfaction. Forrester projects that online and digital-influenced retail sales $1.8 trillion by 2017. will reach SIGNAL To learn more visit Source: xjw6t4g:HytA /666269/Engaging+Multichannel-Consumers.pdf/d3c31b47-4227-4b3e-a0c6-0a170165fcda 2015/11/12/amazons-brick-and-mortar-bookstore-should-be-a-hit-with-millennials/ B/usa-holidaysales-delivery-idUSL2NOTF19820141128#aB3be6BooymCuQUZ.97 blogs HOME %24 %24

Omnichannel Retail: Trends From the Holiday Shopping Season

shared by matthewzajechowski on Jan 10
As shoppers are becoming more channel-agnostic, and more omnichannel in their customer journey, the retailers that are breaking through and meeting their demands are realizing the greatest returns thi...




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