67% Pick Stores Based on Mobile Coupons

MediaPost – Despite all the new technology that continually hits the market, consumers are still looking for a deal when they shop. The technology has made the deals much more portable.

Thanks to mobile, the shopping experience has been transformed from a serial process, as in when a consumer leaves home to go to the store to shop, to an iterative process, as in a smartphone-equipped consumer is shopping all the time.

About a third (34%) of shoppers use their phone to compare prices while in a store and nearly as many (28%) use their phones to look for offers, according to a recent BRP shopping study.

The pattern is not likely to change, with 41% of consumers planning to increase their shopping frequency on their phone or tablet within the next two years.

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The long, slow fall of Lord and Taylor

Glossy – The world of department stores is facing rough seas. One company that has been hit particularly hard is Hudson’s Bay Company, the Canadian owner of retailers including Saks Fifth Avenue that announced plans earlier this month to sell the floundering Lord & Taylor brand.

“The challenges for department stores are primarily the result of selling commodity products — products that are available at their competitors’ stores and also sold by the manufacturers’ branded stores,” said Ken Morris, principal at BRP, retail consulting firm. “The best way to survive is to differentiate your brand through experiences, just like some of the successful European department stores such as Galeries Lafayette, Harrods and Selfridges.”

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Focus on the phone

Produce Retailer – How does the average shopper experience your brand on her phone? That question should be a guide for your marketing efforts in the coming years. According to a new report by retail consulting firm BRP, 41% of consumers plan to increase how often they shop on their phone or tablet within two years. The report is based on a survey about shopping habits overall — not grocery shopping habits alone — but the findings are still relevant.

After all, the plethora of fast food options has certainly influenced what kind of products shoppers demand in grocery stores, leading to tremendous growth in fresh-cut and prepared foods sections, and the popularity of e-commerce in non-food retail sectors like clothing, books and electronics has prompted the rapid rise of grocery pickup and delivery services. We know shoppers are looking for convenience, and the BRP report indicates that for many people convenience is not just important but a make-or-break factor.

The firm found that 67% will choose a store based on the availability of mobile coupons and 64% will choose a store based on product information availability via a mobile device. BRP found that many retailers are already working to realize the opportunities those preferences present.

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Gap, Chipotle and Sephora test Ibotta’s new rewards-based payment tool

Retail Dive – Younger consumers are leading the way with the adoption of mobile payments, according to a survey by Origin, Hill Holliday’s independent research arm. Twenty-two percent of survey respondents under 40 said they use mobile payments daily, while 45% of people over 40 said they’ve never used mobile payments. The most popular payment apps on mobile devices in the U.S. are for person-to-person (P2P) transactions, eMarketer found. It estimated that P2P adoption of apps like Venmo will grow to 96 million users, or 40% of all mobile phone users, this year from 82.5 million in 2018.

Smartphones have become a key part of the shopping journey for many U.S. consumers, with 34% saying they use their phone to compare prices while in store and 28% looking for coupons, according to consulting firm BRP. About two-thirds (67%) of surveyed consumers in the U.S. said they’re likely to shop at a retailer that offers mobile coupons over one that doesn’t, the company said. Ibotta’s new feature aligns with these trends by streamlining mobile payments, couponing and rewards into a single app function.

Read Full Article: Gap, Chipotle and Sephora test Ibotta’s new rewards-based payment tool

Getting Chatty With Chatbots

E-Commerce Times – Chatbots have become an important part of the e-commerce shopping experience. They answer questions, provide information, and help customers along in their buying journey. Though they may never replace human beings entirely, they are central to many e-commerce-related interactions.

The chatbots that work best are those that are essentially human-like, and for that reason companies should hold their chatbots to the standards that apply to their human employees.

“Retailers should have the same expectations of a customer’s interaction with a chatbot as they do with their customer service representatives or sales associates,” said Jeffrey Neville, senior vice president and practice lead at BRP,  retail consulting firm.

“Chatbots should be human-like in their interactions and have a personality that matches the brand,” he told the E-Commerce Times. Chatbots also need to be able to remember past interactions with a particular customer and provide customized, relevant service.

“Like a good sales associate, they should remember past conversations, be tolerant of consumer’s typos and ambiguity, and be prepared to provide backup information for any question that can’t be answered completely,” explained Neville. “For example, ‘I’m sorry, but this part is not covered under your warranty — here is a link to our warranty policy.'”

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Mobile coupons drive customer loyalty

Retail Dive – As retailers compete for customers both online and in-stores, BRP’s report highlights the importance of building a mobile presence in tandem with a physical one, rather as separate endeavors. “A retailer’s mobile capabilities can be a major driver for where a consumer chooses to shop,” Marty Whitmore, senior vice president and practice lead at BRP, said in a statement. “With 67% of consumers choosing a store based on the availability of mobile coupons and 64% choosing a store based on product information availability via a mobile device, these are essential mobile capabilities for retailers.”

The success of a mobile-meets-store experience relies on providing customers the information they want without taking too much of their information in exchange for the convenience. The plans retailers shared with BRP to offer identification by WiFi, beacons and other technology to identify customers don’t yet match customer willingness to be identified by such measures. “Even with the best technologies to identify consumers, retailers need to convince consumers to opt-in to customer identification,” BRP noted. “They need to make it ‘valuable’ enough for customers to want to be recognized.”

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Highsnobiety begins its e-commerce transformation

Glossy – Highsnobiety, the streetwear media company founded in 2005, is adding e-commerce with the debut of an exclusive collection of Prada’s newly relaunched Linea Rossa athletic line. Highsnobiety will be the only place outside of Prada’s own channels where this collection can be purchased.

The new platform is intended to be a place for highly curated product drops and exclusive collaborations for Highsnobiety. Jeff Carvalho, managing director of Highsnobiety, said that launching with a traditional luxury brand like Prada, as opposed to a streetwear brand was a conscious move.

“Everyone probably assumed we would launch with a sneaker,” Carvalho said. “We wanted to do something a little surprising, and even in the short time since it launched, we’ve learned so much. We now know that our customer is willing to pay for a premium luxury product.”

“Selling streetwear on Highsnobiety enables Prada and other luxury brands to reach a large number of shoppers that are interested in streetwear,” said David Naumann, vp of marketing at BRP, retail consulting firm. “With more than 6.5 million unique visitors to Highsnobiety each month and more than 5 million followers [Facebook, Instagram and other social channels combined], Prada has a captive audience for this product category. Prada joins several other luxury retailers that are expanding into streetwear to attract younger customers to their brand, and leveraging third-party media and marketplaces is a great way to accelerate the awareness and sales of new product categories.”

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Shared Cart Functionality Essential to Omnichannel Customer Experience

Total Retail – With more options available to them than ever before, consumers’ purchase journeys are anything but linear. Consumers are shifting between channels during the purchase journey, from mobile to online to store to social media, and in no particular order, before ultimately making a purchase in a channel different than where they started. And they expect that the experience in each of those channels is seamless and consistent with the others. This is just one of the many challenges retailers face in trying to meet the needs of today’s omnichannel shoppers.

One way that retailers are seeking to address the challenge of non-linear customer purchase journeys is by introducing shared cart functionality. A shared cart refers to a single shopping cart that enables consumers to shop across channels and be able to reach their cart via phone, computer, or even in-store. They want the ability to “start anywhere and finish anywhere.” According to a recent report from BRP Consulting, 56 percent of consumers indicated they were more likely to shop at a retailer that allowed them to have a shared cart across channels instead of a retailer that does not offer this service.

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Mobile coupons influence over two-thirds of shoppers

Retail Dive – About two-thirds (67%) of surveyed consumers in the U.S. said they’re likely to shop at a retailer that offers mobile coupons over one that doesn’t, according to retail consulting firm BRP. Some retailers are responding to that preference, with 40% indicating that offering coupons and discounts is a key feature of their respective mobile apps and websites.

Forty-one percent of consumers plan to shop more frequently on their phone or tablet in the next two years, while the same percentage of retailers plan to improve their mobile shopping experience to meet those customer expectations, the survey found.

Nearly 40% of those surveyed said they’re comfortable with mobile identification when they walk into a store if it means a more personalized experience. However, 61% of retailers said they plan to use mobile identification through customers’ smartphones and Wi-Fi, per BRP.

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50 Retail Innovation Stats That Prove The Power Of Customer Experience

Forbes – How we shop has changed drastically in just the past few decades. Instead of window shopping in the mall, many customers now rely on AI product recommendations and shop via mobile without ever setting foot in a store. Retail technology and customer demands may be constantly changing, but one thing that will always be vitally important is customer experience. These statistics show the changing retail landscape and just how much customers depend on personalization, convenience and great relationships with brands.

  • 73% of consumers use multiple channels to shop. – Harvard Business Review
  • In 2018, 51% of e-commerce brands offered same-day delivery, up from 16% in 2017. Experts predict that within the next two years, 65% of retailers will offer same-day delivery. – BRP Consulting
  • 68% of consumers said they would be more likely to shop on sites that offer automated returns. – Windstream Enterprise

Read Full Article: 50 Retail Innovation Stats That Prove The Power Of Customer Experience