Retail Trends Factfile: Omnichannel Retail

When Americans browse online before making a trip to the store, almost all (91%) know exactly what they want to buy or at least have narrowed it down to two to three products. (TimeTrade, 2015)

As a direct result of their digital strategies nearly all UK retailers (87%) feel they will see an increase in the overall revenue of their business, with the majority (80%) expecting an increase in foot traffic in stores. A significant amount of retailers (40%) anticipate a need for more stores in the future and expect to increase store openings. (CBRE, 2014)

85% of UK retailers now have a dedicated resource to run their digital strategy. (CBRE, 2014)

Almost all UK retailers (87%) now operate a transactional website. (CBRE, 2014)

The majority of UK retailers (88%) now use social media tools such as Facebook or Twitter to interact with customers. (CBRE, 2014)

Two thirds of UK retailers have already modified their stores as a result of their digital strategy. This includes: the installation of iPads for ordering online, providing digital screens to show the full range of goods and creating larger experiential stores. (CBRE, 2014)

Geo-targeting is also important. Almost one third of UK consumers would like geo-targeting to form part of their shopping experience in the future. (Tangent Snowball, 2015)

56% of consumers will continue shopping with a retailer as long as they receive the best price offered – regardless of channel. (CFI Group, 2014)

US consumers revealed that when they asked questions of one channel about the other, 75% of respondents indicate they get incorrect information at least occasionally, if not frequently. (CFI Group, 2014)

95% of US consumers frequently or at least occasionally shop a retailer’s website and store. (CFI Group, 2014)

More than 50% of in-store purchases will be influenced digitally by the end of 2014. (Deloitte, 2014)

Men are more likely to be swayed by TV adverts and SMS messages – just under 50% of men (48.2%) reported that TV and SMS influence their purchases compared to 41.1% of women. (Tangent Snowball, 2015)

Women are more likely to be swayed by promotional emails. 47% of women stated that promotional emails drove them to purchase, compared to just 36.8% of men (Tangent Snowball, 2015)

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Creating a consistent customer experience remains the most valued capability for retailers, but 54% indicated their biggest inhibitor was not having a single view of the customer across channels. (RSR, 2014)

Ordering online and picking up in stores at a dedicated drive-thru lanes was desired by 57% of Americans surveyed and 53% said they would pay $5 for same-day, at-home delivery. 40% expressed interest in using a secure locker to pick up online orders. (Cisco, 2015)

A good many shoppers are interested in augmented reality: 73% of Americans said they would use a smartphone to scan products for special customized offers and promotions in the store. 63% would use augmented reality apps to help locate items on their shopping list in the store; and 57% would like to receive information about products, such as online consumer reviews or ingredients. (Cisco, 2015)

In-store digital signage holds great promise as the majority (77%) want digital signs at each US checkout line to provide estimated wait times; 67% want to view offers tailored to their interests and preferences; and 67% are interested in in-store wayfinding capabilities through mobile maps. (Cisco, 2015)

Almost half (48%) of those surveyed in the UK are receptive to getting reminders online to order items that they might have run out of and need to be refilled (from mass retailers, drug stores and grocery stores) and 51% like the idea of “one-click” checkout retailers who know how consumers want to pay and have items shipped.  (Accenture, 2015)

At the same time, consumers want to be active in making purchases, with 48% of Brits saying they don’t like the idea of in-store purchases being charged automatically to their account without them taking out their wallet or mobile phone.  (Accenture, 2015)

While over two-thirds of responding companies agree their ‘priority is for all key marketing activities to be integrated across channels’, only 39% say they ‘understand customer journeys and adapt the channel mix accordingly’. (Econsultancy, 2015)

Only 5% of respondents say their organisations are ‘very much’ set up to deliver effectively orchestrated cross-channel marketing activities.(Econsultancy, 2015)

Over a quarter (28%) of respondents say their organisations don’t have a strategy for integrating mobile into broader marketing campaigns, up from 24% last year. (Econsultancy, 2015)

9/10 male and 7/10 female US shoppers would be more likely to make a purchase if they saw something personalised on an in-store beacon/ digital display. (Adroit Digital)

Customers in the UK, Germany and The Netherlands rate free wi-fi as the most valuable in-store technology. (RetailWeek, 2015)

15.2% UK, 14.2% Germany and 16% Netherlands research online before buying in store. (RetailWeek, 2015)

3% UK, 6.3% Germany and 10.1% Netherlands research in-store before buying online. (RetailWeek, 2015)

3.9% UK, 2.2% Germany and 2.9% Netherlands shop mostly online then collect in store (click and collect). (RetailWeek, 2015) 

When consuming content online, 26.9% of Brits say it’s very important to have access to the same content across multiple devices. 40.4% said it was quite important, 27% said not important at all and 5.7 don’t consume online content. (RetailWeek, 2015)

Loyalty programmes shouldn’t just be cards – 80% of US consumers feel loyalty programmes are important across channels.  (Tangent Snowball, 2015)

By 2020, five key categories will have more than half of total sales coming from cross-channel sales: garden and home improvement, beauty and cosmetics, jewelry and watches, footwear, and clothing. (Forrester, 2015)

35% of respondents see click and collect as the future of the high street. (Tangent Snowball, 2015)

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Mobile ranks as the top omnichannel priority for 67% of retail bosses in the UK (Retail Week, 2015)

In January 2015, only 5% of UK retailers had begun adapting to the demands of omnichannel retailing (Retail Week, 2015)

85% of senior e-commerce professionals in the UK are expecting sales growth of more than 10% in 2015 (The Telegraph, 2014)

In the US, Omnichannel customers tend to shop more frequently and spend 3.5 times more than single-channel shoppers ( ISCS, 2015)

In-store conversion rates are four times higher in the US than online-only conversion rates (ISCS, 2015)

Omni-channel shoppers shop more than those who shop exclusively online or exclusively in-store (ISCS, 2015)

Of European shoppers, UK internet users are the most likely to have researched their purchase online. 28% of Brits consult the web regarding purchases, compared to 18% across Europe (Google Consumer Barometer, 2014)

The average UK shopper has 3.1 connected devices. The average US shopper has 2.9 (Google Consumer Barometer, 2014)

More devices are being used per person across the globe. On average, people use at least one device and many use two or more (Google Consumer Barometer, 2014)

In 2014, it was found that UK consumers researched their products online before purchasing off line as 16% apparel, 30% appliances, 24% insurance, 39% cinema, 16% groceries and a staggering 46% looking for TV Sets (Google Consumer Barometer, 2014)

Online retail sales are predicted to reach £52.25bn in the UK in 2015, a 16.2% increase on 2014 when the total stood at £44.97bn (RetailMeNot & the Centre for Retail Research, 2014)

The online channel now accounts for about 8% of total retail sales (PWC, 2015)

35% of UK consumers have used Click & Collect in the past year and 64% say that they shop more online now due to ease of delivery and returns (Mintel 2015)

58% of UK consumers say that Click & Collect encourages them to visit stores more frequently (Mintel 2015)

Clients who watch films about products are 174% more prone to buy them than consumers who don’t (Omnichannel Retailing Forum, 2015)

55% of 18-44 year olds in the US are more likely to favour a store with advanced mobile capabilities. A full 43% of customers in all age groups indicated they would favor a store with advanced mobile capabilities. (CFI Survey group, 2015)

Robust mobile capabilities in US stores result in consumers driving further to a retailer (24%), their willingness to pay slightly more (20%), buying more per visit (39%), and shopping more with that retailer in general (66%) (CFI Survey group, 2015)

96% of US shoppers use both online and physical stores (Evigo, 2015)

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41% of Americans would actually prefer the retailer provide them with a device to use while shopping. Yet well under a third of retailers are executing on any type of mobile engagement effectively (Evigo 2015)

UK consumers also still spend most time visiting physical shops (42.4 minutes), compared to some 26.2 minutes visiting online shops via a desktop PC or laptop, and 23.5 minutes visiting online shops via a mobile or smartphone (Webloyalty, 2015)

83% of online retailers based in the UK believe they will have implemented an omnichannel strategy by October 2015 (SLI Systems, 2014)

85% of US consumers prefer to shop at physical stores over online (Ecommerce, 2015)

Online is forecasted to continue to be the fastest growing channel over the next five years, with sales increasing by 92.9% to £17.2bn as the Internet becomes more widely used and relied upon by UK shoppers (IGD, 2015)

ShopperVista research tells us that 28% of shoppers in the UK already claim to shop online for grocery each month and 47% would like to use it more over the next two to three years (IGD, 2015)

Sales through hypermarkets and superstores are forecast to decline 2.9% to £69.6bn over the next five years, but will moderate through the period as retailers experiment with new formats to make large stores more convenient and relevant to shoppers (IGD, 2015)

Online grocery shopping is estimated to account for just 4-5% of total food expenditure. However, it accounts for approximately £1 in every £5 spent online (ONS, 2014)

Non-optimised websites convert about 1.6%, while optimised is converting 3.4%. More surprisingly, apps convert 1.7 times better than PC websites and more than twice that of mobile websites. (Internet Retailing, 2015)

40% of sales in the US already cross-device (Internet Retailing, 2015)

By 2020, online spending is predicted to account for 21.3% of all retail spend (Telefonica, O2 April 2014)

In 2012, 89.3% of shopping was done in physical stores against 10.7% online. Predictions for 2020 are, 78.7% in store against 21.3% online (Telefonica, 2014).

62% of American millennials feel that online content drives their loyalty to a brand (NewsCred, 2014)

More than 40% of consumers’ worst customer experiences have occurred in digital industries, including communications, electronics and online retail (SDL, 2014)

34% of US consumers said they’re open to purchasing products and services from non-traditional (i.e. digital or online-only) providers (Accenture, 2014)

78% of US respondents reported “webrooming,” or researching online before heading to a store to make a purchase (Accenture, 2014)

72% of US respondents “showroomed,” or bought digitally after seeing a product in a store (Accenture, 2014)

86% of UK customers quit doing business with a company because of bad customer service, this is an increase up from 59% four years ago, 1% drop in service = 15% drop in customer satisfaction (Tug Life, 2015)