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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

Study: Retailers see opportunity in online customer behavior

Chain Store Age – Most retailers expect their e-commerce revenue to increase, according to a new study from BRP, retail consulting firm. According to “The E-commerce Effect,” 74% of retailers expect an increase in e-commerce revenue next year, and 72% expect higher mobile website revenue. Less than half of retailers expect revenue growth from channels such as mobile app (49%), social media (47%), and brick-and-mortar (38%).

Online consumer shopping trends lend support to these expectations. Eighty-nine percent of consumers browse merchandise online and 81% purchase merchandise online at least once per month. Eighty-two percent have shopped and reviewed products online and then purchased them in the store, while 62% compare prices online before visiting a store.

Read Full Article: Study: Retailers see opportunity in online customer behavior

82% of Consumers Shop and Review Products Online Before Purchasing in a Store, According to New BRP Report

59% of Retailers are Focused on Creating a Consistent Brand Experience Across Channels to Support Omni-channel Shopping Journeys

Boston, MA – June 5, 2019– 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. 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.”

Consumers now start and stop their shopping journey in different channels and frequently shop for the same product across different retailers, via mobile, online or in-store. The customer expects a frictionless shopping experience across an entire brand and doesn’t want disruptions as they cross individual channels or locations.

While 59% of retailers are focused on creating a consistent brand experience across channels, it is surprising that only 18% are focused on increasing the convergence of physical and digital shopping environments. This seems like a disconnect, as converged physical and digital shopping environments are necessary to create a consistent brand experience across channels.

According to BRP’s SPECIAL REPORT: The E-Commerce Effect, retailers indicate the following are top unified commerce priorities:

  • Create a consistent brand experience across channels (59%)
  • Improve the online experience (52%)
  • Improve personalization (45%)
  • Improve the mobile shopping experience (41%)

To download the complete Special Report: The E-Commerce Effect visit:

https://brpconsulting.com/download/2019-special-report-ecommerce/

The special report’s platinum sponsors are enVista and Kibo and the gold sponsors are Aptos, ECRS, Fujitsu, LS Retail and PCMS.

About BRP

BRP is an innovative retail management consulting firm dedicated to providing superior service and enduring value to our clients. BRP combines its consultants’ deep retail business knowledge and cross-functional capabilities to deliver superior design and implementation of strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients to achieve their business potential. BRP’s consulting services include:

Strategy | Business Intelligence | Business Process Optimization | Point of Sale (POS)
Mobile POS | Payment Security | E-Commerce | Store Systems and Operations | CRM
Unified Commerce | Customer Experience | Order Management | Networks
Merchandise Management | Supply Chain | Private Equity

For more information on BRP, visit http://www.brpconsulting.com.

The Power of Mobile

There is no denying the power of mobile technology as a major disruptor in the retail industry. The proliferation and convenience of mobile devices has completely changed shopping behaviors and elevated customer expectations. And there’s no sign that it’s slowing down any time soon. In fact, according to the BRP Consumer Study[1], mobile shopping will continue to grow as 41% of consumers indicate they plan to increase their shopping frequency on their phone or tablet in the next 24 months.

However, purchasing via a phone is just one way that mobile devices are becoming more pervasive. Many consumers use their mobile devices as a research tool throughout the shopping journey. In the BRP Consumer Study, we found that 34% use their phone to compare prices and 28% look for offers/coupons, all while in the store. This makes it imperative for retailers to ensure their mobile app/website offers the tools and capabilities to keep the customer shopping their brand.

A retailer’s mobile capabilities can actually be a major driver for where a consumer chooses to shop, with 67% of consumers choosing a store based on the availability of mobile coupons and 49% choosing a store based on the ability to locate products via a locator maps on their mobile device.

Unfortunately, retailers are still trying to catch up to customer expectations. While two-thirds of consumers want mobile coupons, only 23% of retailers actually offer mobile offers within the store. Half of consumers want to be able to locate products in the store with their mobile device, but only 23% of retailers currently offer it.

There is a large gap between what customers want and what retailers can currently offer. Mobile technology, and the opportunities it offers consumers, requires retailers to upgrade and replace applications and systems to stay ahead of their competitors’ customer experience offerings and to keep up with their very informed, technology-savvy customers.

To learn more about the gap between customer expectations and retailer capabilities I urge you to read BRP’s recent SPECIAL REPORT: The Mobilization of Retail.

Please share your comments on this topic below.

David

[1]2019 Consumer Shopping Habits – The Generation Gap, April 16, 2019

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.

Read full article: Shared Cart Functionality Essential to Omnichannel Customer Experience

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.

Read Full Article: Mobile coupons influence over two-thirds of shoppers

New Report Finds Mobile Coupons Entice Two-thirds of Consumers

Convenience Store Decisions – Only 40% of retailers offer discounts as key feature on mobile app or website. The proliferation and convenience of mobile devices has completely changed shopping behaviors and elevated customer expectations. Mobile shopping will continue to grow as 41% of consumers in a BRP consumer study indicate they plan to increase their shopping frequency on a phone or tablet in the next 24 months.

Shopping via a phone is just one way that mobile solutions are becoming more pervasive, as many consumers use their mobile devices as a research tool throughout the shopping journey. In fact, 34% use their phone while in a store to compare prices and 28% look for offers/coupons.

“A retailer’s mobile capabilities can be a major driver for where a consumer chooses to shop,” said Marty Whitmore, senior vice president and practice lead at BRP, retail consulting firm. “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.”

Read Full Article: New Report Finds Mobile Coupons Entice Two-thirds of Consumers

Survey: Do retailers meet customer mobile expectations?

Chain Store Age – A new survey from BRP, retail consulting firm, highlights how well retailers are aligning their mobile strategies with customer preferences. According to results from the “BRP Special Report: The Mobilization of Retail,” retailers are generally in sync with the broader trend of consumers performing more shopping activities via smartphone. Forty-one percent of consumers plan to increase their shopping frequency on their phone or tablet within two years, and a matching 41% of retailers plan to improve the mobile shopping experience to ensure they are meeting their customers’ expectations.

However, when it comes to more specific details of what mobile functionality retailers offer shoppers, the study reveals some disconnects. For example, while 67% of consumers are likely to shop with a retailer that offers mobile coupons instead of one that doesn’t offer them, only 40% of retailers indicate that offering coupons/ discounts is a key feature to offer on their mobile app/website.

Read Full Article: Survey: Do retailers meet customer mobile expectations?

67% of Consumers are Likely to Shop with a Retailer that Offers Mobile Coupons, According to New BRP Report

Only 40% of Retailers Indicate that Offering Coupons/Discounts is a Key Feature to Offer on their Mobile App/Website

Boston, MA – May 20, 2019– The proliferation and convenience of mobile devices has completely changed shopping behaviors and elevated customer expectations. Mobile shopping will continue to grow as 41% of consumers in the BRP Consumer Study[1]indicate they plan to increase their shopping frequency on a phone or tablet in the next 24 months. Shopping via a phone is just one way that mobile solutions are becoming more pervasive, as many consumers use their mobile devices as a research tool throughout the shopping journey. In fact, 34% use their phone while in a store to compare prices and 28% look for offers/coupons.

Providing information to consumers via their mobile devices assists customers as they research and shop. According to BRP’s SPECIAL REPORT: The Mobilization of Retail, retailers indicate the following are key mobile app/website features: item availability (53%), product information (51%) and coupons and discounts (40%), which all help consumers make better choices and provide incentives to purchase from the brand.

“A retailer’s mobile capabilities can be a major driver for where a consumer chooses to shop,” said Marty Whitmore, senior vice president and practice lead at BRP. “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.”

BRP’s SPECIAL REPORT: The Mobilization of Retail is based on findings from the BRP Consumer Study and the 2019 Unified Commerce Survey and offers insights into the state of retailers’ current mobile capabilities and their future plans. The SPECIAL REPORT: The Mobilization of Retail highlights:

Mobile Shopping

  • 41% of consumers plan to increase their shopping frequency on their phone or tablet within two years
  • 41% of retailers plan to improve the mobile shopping experience to ensure they are meeting their customers’ expectations

Mobile Coupons

  • 67% of consumers are likely to shop with a retailer that offers mobile coupons instead of one that doesn’t offer them
  • 40% of retailers indicate that offering coupons/ discounts is a key feature to offer on their mobile app/website

Mobile Identification

  • 39% of consumers are comfortable with mobile identification when they walk in the store to personalize the experience
  • 61% of retailers plan to identify customers when they walk in the store using their mobile device and WiFi

To download the complete Special Report: The Mobilization of Retail, visit:

https://brpconsulting.com/download/2019-special-report-mobilization-of-retail/.

The special report’s platinum sponsors are enVista and Kibo and the gold sponsors are Aptos, ECRS and Fujitsu, LS Retail, and PCMS.

About BRP

BRP is an innovative retail consulting firm dedicated to providing superior service and enduring value to our clients. BRP combines its consultants’ deep retail business knowledge and cross-functional capabilities to deliver superior design and implementation of strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients to achieve their business potential. BRP’s consulting services include:

Strategy | Business Intelligence | Business Process Optimization | Point of Sale (POS)
Mobile POS | Payment Security | E-Commerce | Store Systems and Operations | CRM
Unified Commerce | Customer Experience | Order Management | Networks
Merchandise Management | Supply Chain | Private Equity

For more information on BRP, visit http://www.brpconsulting.com.

[1]2019 Consumer Shopping Habits – The Generation Gap, April 16, 2019, https://brpconsulting.com/download/2019-consumer-shopping-survey/

Richemont’s costly e-commerce investments lead to a tenuous boost

Glossy – In 2018, French luxury group Richemont made some major investments into the e-commerce space, acquiring Yoox Net-a-Porter and pre-owned watch seller Watchfinder, and now there’s some indication as to how those investments are paying off. On Friday, Richemont released its annual earnings report for fiscal 2019, showing what acquiring these two companies had done for Richemont as a whole.

The short version is that Net-a-Porter and Watchfinder, which Richemont chairman Johann Rupert referred to as “our online distributors,” have been significant boosts to the company’s overall earnings, but have only begun to justify the massive costs associated with acquiring and operating them.

“It is rare to find retailers that are exclusively physical or online, as consumers expect both,” said David Naumann, vp of marketing at Boston Retail Partners. “Richemont’s investment in luxury e-commerce companies has been a great way to diversify its portfolio from brand, product category and channel perspectives.”

Read Full Article: Richemont’s costly e-commerce investments lead to a tenuous boost 

Downloads

2019 Special Report – The E-Commerce Effect

82% of Consumers Shop and Review Products Online Before Purchasing in a Store

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. Consumers now have more shopping options than ever before with more competitive pricing, greater merchandise assortments and faster delivery to get her 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. 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.

Consumers now start and stop their shopping journey in different channels and frequently shop for the same product across different retailers, via mobile, online or in-store. The customer expects a frictionless shopping experience across an entire brand and she doesn’t want disruptions as she crosses individual channels or locations.

According to BRP’s SPECIAL REPORT: The E-Commerce Effect, retailers indicate the following are top unified commerce priorities:

  • Create a consistent brand experience across channels (59%)
  • Improve the online experience (52%)
  • Improve personalization (45%)
  • Improve the mobile shopping experience (41%)

2019 Unified Commerce Survey

87% of Consumers Want a Personalized and Consistent Experience Across Channels

Consumers now start and stop their shopping journey in different channels, including online marketplaces and social media, and frequently shop for the same product across different retailers, both online and in the store. Consumers expect a frictionless shopping experience across an entire brand and they don’t want disruptions as they cross individual channels or locations. In fact, according to the recent BRP Consumer Study, 87% of consumers are interested in a personalized and consistent experience across channels.

BRP’s 2019 Unified Commerce Survey of top North American retailers offers insights into the forces affecting the retail industry, the opportunities available for retailers and the future of retail.

The key findings in the 2019 Unified Commerce Survey:

The Mobilization of Retail

  • 64% of consumers choose a store based on product information availability via their mobile device
  • 41% of retailers plan to improve the mobile experience to ensure they are meeting their customers’ expectations

The E-Commerce Effect

  • 81% of consumers purchase online at least once per month and 89% browse online at least once per month
  • 71% of retailers plan to offer a live chat option on their website to enhance the online shopping experience within two years

The Changing Customer Experience

  • 68% of consumers would choose a store that offers personalized promotions/discounts over a store that doesn’t offer them
  • 68% of retailers need to improve their ability to utilize customer insight to meet their customers’ expectations

The Need for Unified Commerce

  • 87% of consumers are interested in a personalized and consistent experience across all channels
  • 71% of retailers plan to offer the ability to ‘start the sale anywhere, finish the sale anywhere’ to their customers

The Future of Retail

  • 57% of consumers would choose a store offering an automated returns process over one that doesn’t offer it
  • 38% of retailers plan to offer an automated returns process within two years to offer more self-service opportunities