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BRP Report: 82% of Consumers Shop Online Before Purchasing In-Store

Convenience Store News – Both physical and digital shopping environments are necessary to create a consistent brand experience across channels. According a report by to retail management consulting firm BRP, only 18% of retailers are focused on increasing the convergence of physical and digital shopping environments, despite 82% of customers shopping and reviewing products online before purchasing in-store.

Because e-commerce has elevated consumers’ expectations of the shopping experience, retailers must now provide service anytime, anywhere and any way customers’ desire.

Consumers now have more shopping options than ever before with more competitive pricing, greater merchandise assortments and faster delivery to get their desired product wherever and whenever. This makes the customer journey more complicated than ever before.

“Since consumers use digital devices throughout the shopping journey to research product information, compare prices and read consumer reviews, providing as much relevant information via the retailer’s website helps keep customers loyal to the brand,” said Jeffrey Neville, senior vice president and practice lead at BRP. “As e-commerce continues to represent a greater share of retailers’ revenue mix, it is imperative that retailers continue to enhance their online capabilities to keep up with their competitors that are just a click away.”

Read Full Article: BRP Report: 82% of Consumers Shop Online Before Purchasing In-Store

Giant Works to Live up to its Name

Frozen & Refrigerated Buyer – The Ahold banner makes a couple of bold moves in an effort to differentiate itself from mainstream competitors. With a name like Giant Food Stores, consumers tend to expect a lot. To be honest, though, the 96-year-old, Carlisle, Pa.-based chain, part of Ahold Delhaize USA, is generally viewed by shoppers as a very average supermarket, consistently ranked near the middle of the pack. “It’s a reliable, middle-of-the-road grocer, but not a destination,” confirms Karen Strauss, principal at Wilton, Conn.-based Cadent Consulting Group. That’s all well and good, she continues, except that Giant happens to operate in the same market as some pretty heavy hitters, most notably Wegman’s.

Although e- commerce reportedly represents only about 2% of total Ahold sales, “Online ordering and fulfillment are definitive ‘must-have’ services for grocers to compete both locally and nationally,” says Scott Langdoc, senior vp and practice lead at Boston-based BRP Consulting. From Kroger and Safeway to Target and Walmart, “Major national brands are pouring millions into e-commerce, and regional brands must work to keep pace as differentiating will be increasingly difficult.”

That said, Langdoc likes what he sees from Giant so far. But in order to stay ahead of the curve, the chain will have to remain “hyper-focused” on ways it can improve. “Customers expect the perfect blend of the assortment they know from Giant stores along with the most efficient, frictionless e-commerce experience possible,” he says. So although the chain is off to a good start, there’s no letting up.

Read Full Article: Giant Works to Live up to its Name

Ecommerce experience heightening consumers’ retail expectations

Luxury Daily – Consumers’ shopping habits are increasingly cross-channel, but new research finds retailers are putting more emphasis on consistency of experience rather than the convergence of their digital and physical channels.

According to a report from Boston Retail Partners, 82 percent of consumers have browsed or researched online before heading to a store to make a purchase. The more educated, ecommerce-connected consumer has raised expectations for retailers, calling for brands to ramp up their offerings to remain competitive.

“Ecommerce and mobile commerce has put additional information and enhanced functionality into the hands of both customers and associates,” said David Naumann, vice president of marketing at Boston Retail Partners. “This, in turn, has increased customer expectations as she now has more shopping options than ever before with access to competitive pricing, greater merchandise assortments and faster delivery.”

Read Full Article: Ecommerce experience heightening consumers’ retail expectations

Now public, Revolve will test investor appetite for influencer marketing

Glossy – On Friday, Revolve made its Wall Street debut, one of several online fashion companies to go public in recent months. Stitch Fix went public in November 2017, followed by Farfetch in September 2018. The RealReal filed for IPO just last month.

One of the greatest concerns when any company goes public, and one that most public retailers are grappling with, is the subsequent rate of growth expected. For Revolve, one of the biggest questions is how much more it can grow through influencer marketing, which brought in nearly 70% of sales for the brand in 2018, and experiential events like #RevolveFest.

“Once there’s a capital infusion via an IPO, the expectations on these retailers are pretty aggressive. The whole goal of the infusion of cash or investment is really to grow the brand fast,” said David Naumann, vp of marketing at management consultancy BRP Consulting. “There’s only so much you can do for growing a brand online. The biggest way to grow and scale is to open some stores.”

Read Full Article: Now public, Revolve will test investor appetite for influencer marketing

Retailers prioritize mobile shopping experience

Retail Dive – More retailers are focused on creating a seamless shopping experience across all of their channels, and fewer retailers are blending their online and in-store shopping experience, according to a 2019 BRP report emailed to Retail Dive. Fifty-nine percent of retailers said they’re focused on consistent branding that carries across channels, but only 18% are focused on converging on and offline shopping environments, the report found.

More consumers are heading online for product information before they visit brick-and-mortar stores, according to the findings. Eighty-two percent of respondents shopped and reviewed products online and then bought goods at the store, and 62% of consumers said they compared prices online before going to a store.

Retailers are also working to improve their mobile shopping experience. Forty-five percent of retailer respondents said they were working on improving customer personalization and 41% said they are polishing their mobile shopping experience.

Read full article: Retailers prioritize mobile shopping experience

As luxury competitors thrive online, Capri Holdings bets on aggressive brick-and-mortar expansion

Glossy – In the past two years, Capri Holdings, formerly known as Michael Kors Holdings, has attempted to establish itself as a competitor to huge luxury groups like LVMH and Richemont. In the last two years, it spent billions to acquire big brands like Versace and Jimmy Choo.

“Opening more stores is one strategy to boost revenues, but it could backfire,” said David Naumann, vp of marketing at BRP Consulting. “Opening stores takes time, and if they are not in the right locations, they have the risk of increasing revenues at the expense of profits. For a faster revenue boost and controlled profit margins, Capri Holdings should consider focusing on expanding its distribution with luxury department stores or online marketplaces.”

Read Full Article: As luxury competitors thrive online, Capri Holdings bets on aggressive brick-and-mortar expansion

Cities of luxury: Dubai – Luxury Memo special report

Luxury Daily – As the business hub of the Middle East and one of the world’s wealthiest cities, Dubai has attracted its fair share of affluents and luxury brands. Luxury is arguably the primary industry in Dubai, as the city’s economy revolves around trade, tourism, real estate and financial services. The United Arab Emirates has increasingly become a haven for the ultra-affluent from around the globe, and brands across luxury sectors have expanded their presence in Dubai.

“Physical stores are essential for luxury brands expanding to Dubai, especially for brands that don’t have global brand awareness,” said Ken Morris, principal at BRP Consulting, Boston. “When consumers are buying extremely expensive products they want to see, touch, smell and try the products. “The experience is oftentimes just as important as the product itself,” he said.“Luxury consumers love the theater of shopping and want to be treated like royalty.”

“With more than half of the population in the Arab world under the age of 26, according to Vogue Arabia, retailers need to appeal to the communication styles and mediums preferred by younger shoppers,” BRP’s Mr. Morris said. “These young shoppers will be their future customers and brands need to introduce them to the brands and inspire them become loyal customers.”

Read Full Article: Cities of luxury: Dubai – Luxury Memo special report

Ecommerce’s Effects Felt In Consumers’ Offline Shopping

PPAI Media – Ecommerce’s disruption of the shopping experience extends to brick-and-mortar purchases as well. A study conducted by retail management consulting firm BRP found that 82 percent of consumers shop and review products online before purchasing them in a store and warns that only 18 percent are focused on increasing the convergence of physical and digital shopping environments.

BRP’s research focuses on the customer journey as ecommerce has elevated consumers’ expectations of the shopping experience and retailers must now provide service anytime, anywhere and in any way customers desire. Consumers now have more shopping options than ever before with more competitive pricing, greater merchandise assortments and faster delivery.

“Since consumers use digital devices throughout the shopping journey to research product information, compare prices and read consumer reviews, providing as much relevant information via the retailer’s website helps keep customers loyal to the brand,” says Jeffrey Neville, senior vice president and practice lead at BRP. “As ecommerce continues to represent a greater share of retailers’ revenue mix, it is imperative that retailers continue to enhance their online capabilities to keep up with their competitors that are just a click away.”

Read Full Article: Ecommerce’s Effects Felt In Consumers’ Offline Shopping

Report reveals e-commerce opportunities for retailers

The Packer – A new report from BRP outlines some of the e-commerce opportunities for retailers. Retail consulting firm BRP found in a recent consumer survey that 89% of consumers browse merchandise online and 81% purchase merchandise online at least once per month.

BRP works with many retail sectors, so the findings of the survey provide insight into how people shop in general, not just how they shop for groceries. Eighty-two percent of respondents said they shopped and reviewed products online and then made their purchase in a store, according to the report.

“Today’s consumer is always connected and always on,” BRP wrote in its report. “The advent of e-commerce has elevated consumers’ expectations of the shopping experience, and retailers must now provide service anytime, anywhere and any way the customer wants it, or the customer will move on to the competition.”

Read Full Article: Report reveals e-commerce opportunities for retailers

Study: 82% of consumers review products online before purchasing in store

Frozen & Refrigerated Buyer – While 59% of retailers are focused on creating a consistent brand experience across channels, only 18% are focused on increasing the convergence of physical and digital shopping environments.

The advent of e-commerce has elevated consumers’ expectations of the shopping experience, and retailers must now provide service anytime, anywhere and any way customers desire. This makes the customer journey more complicated than ever before.

“Since consumers use digital devices throughout the shopping journey to research product information, compare prices and read consumer reviews, providing as much relevant information via the retailer’s website helps keep customers loyal to the brand,” says Jeffrey Neville, senior vice president and practice lead at BRP, Boston, Mass. “As e-commerce continues to represent a greater share of retailers’ revenue mix, it is imperative that retailers continue to enhance their online capabilities to keep up with their competitors that are just a click away.”

Read Full Article: Study: 82% of consumers review products online before purchasing in store