Cracking the Code for Consumer-First Retailing...CraCking the Code for Consumer-first retailing...

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RETAILERS NEED TO DELIVER A SEAMLESS, CONVENIENT AND NONINTRUSIVE SHOPPING EXPERIENCE CRACKING THE CODE FOR CONSUMER-FIRST RETAILING Sources: *RIS/EKN “Customer Engagement Tech Trends 2014.” All other data from the RIS/Cognizant “2014 Shopper Experience Study.” Digital shopping functions (online and mobile) not only generate immediate sales, but shoppers say they are important influences for future sales as well. TOP 6 INFLUENCERS FOR DIGITAL PURCHASES No hidden fees Right product selection Ease of finding information Fast and easy checkout 83% 76% 66% 55% Use BOPIS for fulfillment 62% 27% 14% 14% 10% 9% 83 % 81 % 79 % Using social to personalize experiences Product recommendations based on social network preferences Attempts to influence purchases via social sites Rather than risk getting it wrong and clashing with the highly sensitive social media culture, retailers should develop a plan that focuses on three important skills – listen, analyze and learn. Retailers should strive to deliver a robust shopping experience that makes it quick and easy, seamless across channels, consistent while avoiding failures that disappoint, and a customer-first environment that demonstrates you are putting yourself in the shopper’s shoes. 19% Long wait in line Inconvenient pick-up location Order not ready for pick-up Associates not well trained Order could not be found ID and payment verification was excessive EVOLUTION OF BUY ONLINE AND PICK-UP IN-STORE (BOPIS) REASONS FOR BOPIS SERVICE FAILURES Use BOPIS frequently 16% RETAILER SOCIAL MEDIA TACTICS THAT SHOPPERS DISLIKE Shoppers regularly use social media. This level of popularity appears to be a golden opportunity for retailers to nurture engagement and drive sales...BUT… 86% Of shoppers have a NEGATIVE reaction to retailers using social media for influencing purchases, recommending products and sharing deals 63% more profitable than a single-channel shopper. The problem is that 75% of retailers don’t consolidate purchase histories for the store, online and mobile channels.* An omnichannel shopper is MORE PROFITABLE 23% Experience BOPIS service failures 49% Ordering online and picking up purchases in stores has become the new normal, but it has also created new risk of service failures. Poorly executed BOPIS services disappoint shoppers. Solutions include using location-aware messaging to send alerts about the status of orders (favored by 50% of shoppers) and improving business processes, training and policies. Retailers risk triggering a culture clash with shoppers if they do not understand and follow the rules of social networks. Consistent cross-channel experiences Option to buy online pick up in store 72% 43%

Transcript of Cracking the Code for Consumer-First Retailing...CraCking the Code for Consumer-first retailing...

Page 1: Cracking the Code for Consumer-First Retailing...CraCking the Code for Consumer-first retailing Sources: *RIS/EKN “Customer Engagement Tech Trends 2014.” All other data from the

retailers need to deliver a seamless, convenient and nonintrusive shopping experience

CraCking the Code forConsumer-first retailing

Sources: *RIS/EKN “Customer Engagement Tech Trends 2014.” All other data from the RIS/Cognizant “2014 Shopper Experience Study.”

Digital shopping functions (online and mobile) not only generate immediate sales, but shoppers say they are important influences for future sales as well.

TOP 6 INFLUENCERS FOR DIGITAL PURCHASES

0 10 20 30 40 50 60 70 80

0 20 40 60 80 100

No hidden fees

Right product selection

Ease of finding information

Fast and easy checkout

83%

76%

66%

55%

Use BOPIS for fulfillment 62%

051015202530

27%

14%

14%

10%

9%

83% 81% 79%

using social to personalize experiences

Product recommendations

based on social network

preferences

attempts to influence

purchases via social sites

Rather than risk getting it wrong and clashing with the highly sensitive social media culture, retailers should develop a plan that focuses on three important skills – listen, analyze and learn.

Retailers should strive to deliver a robust shopping experience that makes it quick and easy, seamless across channels, consistent while avoiding failures that disappoint, and a customer-first environment that demonstrates you are putting yourself in the shopper’s shoes.

19%

Long wait in line

Inconvenientpick-up location

Order not readyfor pick-up

Associates notwell trained

Order could not be found

ID and paymentverification was

excessive

EVOLUTION OF BUY ONLINE AND PICK-UP IN-STORE (BOPIS)

REASONS FOR BOPIS SERVICE FAILURES

Use BOPIS frequently 16%

RETAILER SOCIAL mEDIA TACTICS

THAT SHOPPERS DISLIKEShoppers regularly use social media. This level of popularity appears to be a golden opportunity for retailers to nurture engagement and drive sales...BUT…86%Of shoppers have a NEgATIvE reaction to retailers using social media for influencing purchases, recommending products and sharing deals63%

more profitable than a single-channel shopper. The problem is that 75% of retailers don’t consolidate purchase histories for the store, online and mobile channels.*

An omnichannel shopper is

mORE PROFITABLE

23%

Experience BOPIS service failures 49%

Ordering online and picking up purchases in stores has become the new normal, but it has also created new risk of service failures.

Poorly executed BOPIS services disappoint shoppers. Solutions include using location-aware messaging to send alerts about the status of orders (favored by 50% of shoppers) and improving business processes, training and policies.

Retailers risk triggering a culture clash with shoppers if they do not understand and follow the rules of social networks.

Consistent cross-channel experiences

Option to buy onlinepick up in store

72%

43%

RIS_Cognizant_Inforgraphic#2_1114.indd 1 11/25/14 12:28 PM