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The Rise of the SoMoLo Shopper

STORES SOCIAL, UNDER MOBILE, LOCAL SIEGE SHOPPER yelp* Gowalla Google Layar GROUPON" twitter R RedLaser shopkick. facebook. myTown foursquare SHOPBAVVY SOMOLO SHOPPERS: Consumers who regularly use social networks and apps, smartphones, and location-based services as part of their shopping lifestyle. SOMOLO BEHAVIORS AND EXPECTATIONS TOOLS OF THE TRADE SOCIAL MOBILE LOCAL 50% of Americans will have a smartphone by Christmas 1 Discuss Read a Look for 68% of tablet owners have made a purchase on the tablet On Social Sites Review Nearby Inventory & Prices Compare Products 17B Apps downloaded in 2011 Investigate Product Info Use Maps to Find Stores Share 14M US mobile users scanned a QR code in one month (July 2011) Group Deals Shop through Social Games Review Receive Local Offers Americans use mobile or social Shopping Lists 65M location-based services US Internet users play at least one game on a social network monthly 62M DIGITAL CHANNELS GRAB MORE AND MORE GROUND STORES ARE DEFINITELY UNDER SIEGE m-Commerce: Relentless Growth s-Commerce: Explosive Growth Looms Service Under Siege Conversions Under Siege $14 55% $28.7 U.S. m-Commerce Sales ($US Billion) U.S. m-Commerce Sales ($US Billion) 28% of holiday 2010 store visits ended with shoppers walking out with 58.2% CAGR $14 93.4% CAGR $5 $21 $9 OF RETAIL ASSOCIATES indicated that shoppers were better connected to product information than in-store associates $132 $8.8 $3 $5.3 $2.9 $1 UNSPENT 2010 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Source: Barclays Capital Source: Booz & Co. Daily Deals: Here to Stay Share of Wallet Will Continue to Shift Online WINNING THE BATTLE FOR THE SOMOLO SHOPPER U.S. Online Retail Forecast ($US Billion) $279 $3.93 $259 U.S. Daily Deal Revenues ($US Billion) $240 $3.08 $218 35.1% CAGR $2.34 $1.73 $197 $176 "ALWAYS ON" CONSUMERS REQUIRE "ALWAYS ON" MARKETING $1.25 $.87 11% 14% 15% Persistent customer engagement 12% 13% 15% 2014 2015 Source: BIA/Kelsey 2012 2013 Source: Forrester *(Totals exclude grocery) ii Regularly nurtured relationships 2010 2011 2012 2013 2010 2011 2014 2015 Constant community building 9 Tireless new customer acquisition THE KEY TO SOMOLO STRATEGIES? INTERACTION LEVERAGE CLIENTELING TO CREATE SOMOLO SALESPEOPLE INTEGRATION Seamless, collaborative online and offline experiences "CLIENTELED" SHOPPERS: 63% 33% 3.5x NOTIFICATION Alert customers of offers, opportunities, product lineup changes TRAFFIC LARGER TRANSACTIONS MORE REPEAT VISITS ANNUAL SPEND Relentlessly seek opportunities to improve store traffic EDUCATION Inform shoppers about products, features, programs CREATE "MASHOP" EXPERIENCES IN STORE RELATIONSHIPS Engage, entertain and add value to bring them back Wi-Fi Networks Interactive Digital Displays ACCESS Be available when, where, how, and on the devices THEY prefer OPEN Digital Scavenger Hunts Video Assistants COMMUNITY Social Networking Technologies Identify and embrace local influencers and advocates to build networks Location-based Services TRANSACTIONS Arm each channel (and every salesperson) with conversion tools Internet Devices Salesforce Empowerment Tools 1 - Neilsen 2,6 - eMarketer 3 - Forrester 4 - Comscore 5 - Pew research SPONSORED BY 7,8 - Motorola 9 - Raymark RedPrairie

The Rise of the SoMoLo Shopper

shared by RedPrairieCorp on Jan 12
1 comment
A compelling and creative look at how current technology trends in social media, mobility, and location-based services are creating a new breed of shopper - the SoMoLo shopper.


Monique De Salvo


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