National Retail Federation 2014 : Day 2
The race for seamless experience
While consumer demand for a seamless experience increases, retailers are racing to implement back-end logistics that support an omni-channel shopping experience as over 50% of retailers do not yet offer this. Today’s millennial audience expects to have a seamless experience and their loyalty will crack quickly, when let down. This requires logistics that achieve two distinct goals: Speed & Accuracy.
The top five things people want from retailers to create this seamless experience:
- Price consistency between online and off
- In-store, locate out-of-stock item and get it shipped to home
- Track order status online
- Consistent assortment
- Return in-store for items bought online
Making products relevant
Companies like Staples and Whole Foods have been using asymmetrical marketing to group together unrelated products to tell a story about how that grouping of products can fulfill a shopper’s needs and goals. By using an asymmetrical approach, Staples has achieved their goals of increasing revenue while simplifying the website, reducing the number of SKUs. Since October 4th, 2013—the day the new site went live—the company has seen a 100% increase in conversion.
Social is still a big consideration factor
33% of people post about what they buy and 53% of them visit a social site more than once per day. 43% consumers are actually posting about their experience buying something at a retailer. But who is influencing you? Well friends still rule for 59% of people.
Location, Location, Location
People willing to share their location went from 19% in 2011 up to 36% to 2013 but they are okay sharing this to get some offer or something back.