Mobile is driving the shopping experience both in stores and online. Roughly 73 percent of all online buyers are using a mobile device to shop online, and 21 percent are using mobile devices to help them shop in stores, according to Bizrate Insights, a division of Connexity.
Although e-commerce sales accounted for more than $340bn in 2015, a recent Baymard Institute study revealed that about 69 percent of online shopping carts were still left abandoned. Why so many unfulfilled digital sales?
Customer service is an indisputably important factor when it comes to online retail. Good customer service can be the greatest sales asset a retailer can have, encouraging loyalty and word-of-mouth recommendations. But bad customer service cannot only see a particular sale lost in an instant, but long-term irreparable damage done to the brand.
Of the 74 percent of online American adults who are likely to purchase health and fitness technology in the next 12 months, one in three (35 percent) plan to buy a smart watch, according to the latest research from the Consumer Technology Association.
Retail sales may have been down in stores from Black Friday to Cyber Monday, but online experiences and retailers' ability to meet expectations were up, according to the DynamicAction Retail Holiday Index.
With a quarter of holiday shoppers planning to spend more this year than last, retailers can start to celebrate. In its second year of research into holiday shopping plans, analytics company SAS polled 3,458 consumers in the U.S., Canada, the U.K., Australia and New Zealand. The U.S. led spending growth with 29 percent of consumers saying they'll spend more. Canadian shoppers, on the other hand, are tightening their budgets this year. Millennial shoppers (ages 18 to 29) are most likely to up their spending this year, while older consumers are tending to stick with last year's budget.
Holiday shoppers are expected to spend more this season, but it's where or how they plan to spend that should interest retailers, as Thanksgiving Day shopping and social media gain in popularity, according to a new study from Accenture.
The buzz about the threat of mobile/e-commerce to physical stores has at times echoed "All About Eve," with "thumb shopping" playing the role of the ingénue poised to outshine those brick-and-mortar has-beens. But mobile shopping will actually have the opposite effect, according to Matt Moog, CEO of PowerReviews, which bills itself as a "Consumer Engagement Engine" that helps companies connect shoppers at the moment of purchase to drive sales.
In the early days of e-commerce, internet shopping was supposed to spell the demise of the physical store. Pure play online retailers would sweep all before them, rendering the retail store a historical curiosity. In fact, it hasn't quite worked out like that. Recent Accenture research confirms that more shoppers are planning to increase their purchases from physical stores this year than last. However, the positive news for brick-and-mortar needs to be tempered with the realization that what shoppers want from the in-store experience is changing fast, shaped by their digital experiences. Retailers who fail to understand those new needs and adapt accordingly will struggle.
You're trying to do everything right to lure in online shoppers: You offer free shipping. Customers can return merchandise to a retail location. You even offer free returns through the mail. But this freedom for the customer can mean a lot of headaches and cost for you.