May 23, 2018 | By Alice Gividen
Big data meets consumer insights. Experience WGSN.
How shoppers want to interact with brands digitally versus how they are able to, have been key subjects at NRF’s Big Show this week, but in too many cases the gap between them is as wide as the Grand Canyon.
More often or not that is because retailers are too focused on conversion and channels rather than recognising where a shopper is on their journey and providing them with relevant and contextual tools to choose where they go next and help them get there.
Deloitte recently polled 2,000 shoppers to understand how they were using digital. What it revealed was retailers were still failing woefully to connect the dots on the path to purchase.
With digital now influencing 36 cents on every shopping dollar, focusing measurement metrics purely on ROI and conversion fails to tell the whole story and may lead to retailer’s cash and time being spent in the wrong places and shoppers choosing to spend elsewhere.
The industry average on conversion rate via mobile is just 1% of sales but the stats on its influence beyond conversion are so compelling the investment case around it should be clear.
A few anecdotal snippets dropped by retailers in various sessions at the show confirms that tablet influence looks like it’s waning. Macy’s said smartphone interaction is on the rise and tablets are declining in their customer base. Forrester noted the rise of the phablet the tablet / smartphone hybrid confirms shoppers will be even more surgically connected to their mobiles in the future.
Deloitte had a few simple suggestions with how to move forward on mobile: concentrate on features and functionality that meet a particular need at a particular moment, focus on better rather than more functionality, and stop concentrating all your efforts on trying to sell to customers via mobile. Focus instead on enabling your customers via mobile.
Know what’s next. Become a WGSN member today to benefit from our daily trend intelligence, retail analytics, consumer insights and bespoke consultancy services.