The National Retail Federation found that over 75 percent of consumers are likely to research a product onlineand compare similar offeringsbefore their purchase. As the number of consumers operating primarily online increases, successful retailers need to capitalize on digital applications as much as possible.

 

 

Here are 10 of the leading reasons why your retail brand needs to embrace digital solutions.

 

1. Competitors Already Invest in Social Media

A 2015 PricewaterhouseCoopers research study showed that approximately one-third of the 19,000 respondents spanning six continents receive most of their shopping tips and advice on which brands to use from social media. In every way, millennials are bound to interact with retailers through social media for more than the global average.

2. Digital Helps You Reach More Customers

The study found that 20 percent shopped at least once a week online with their PC, 10 percent once a week via tablet and 11 percent once a week via mobile phone. Of the 19,000 respondents, 36 percent still shopped at a store at least once a week. Over 70 percent of consumers prefer brands that personalized shopping experiences and over 85 percent say it affects their final decision.

3. The Internet Supports Your Research Efforts

Effective researching is fundamental for becoming a successful retailer. Support your research by embracing digital platforms that empower you and uncover new opportunities. Use digital applications to research sales, or lack thereof, from day to day, monthly or annually. Collect data to research competitors, their customers and your customers. Research personnel first, the sales skills they’ll need and customer service applications your business needs.

4. Digital Tools Enhance the Customer’s In-Store Experience

Bringing digital platforms in the store, like placement for online reviews, can help increase the rate of unplanned purchases and revenues. Investing in well-crafted SEO, access to real-time inventory and an accurate store locator are all prime reasons to go digital. While over 50 percent of shoppers pre-plan online, most still rather complete their transactions at the store.

5. Mobile Apps Are Becoming a Leading Way for Consumers to Interact with Brands

Mobile commerce sales account for nearly 30 percent of total eCommerce sales and outpaced eCommerce sales by over 2.5 times during 2015. Mobile apps are effective for reaching millennials, cross-channel promotions, valuable app data and gaining more insight into what customers really want to buy. A mobile app also increases the number of ways customers can pay your business for products or services.

Of the 19,000 respondents, 36 percent still shopped at a store at least once a week. Over 70 percent of consumers prefer brands that personalized shopping experiences and over 85 percent say it affects their final decision.

5. Mobile Apps Are Becoming a Leading Way for Consumers to Interact with Brands

Mobile commerce sales account for nearly 30 percent of total eCommerce sales and outpaced eCommerce sales by over 2.5 times during 2015. Mobile apps are effective for reaching millennials, cross-channel promotions, valuable app data and gaining more insight into what customers really want to buy. A mobile app also increases the number of ways customers can pay your business for products or services.

6. The Digital Age is the Future

Only 39 percent of shoppers aged 18 to 24 haven’t shopped with their smartphone, substantially lower than the 56 percent recorded from other age groups. Digital solutions have been disruptive to the industry, as consumers are now more informed and purposeful,and less impulsive or less likely to simply browse around. Retailers now get half the amount of foot traffic they did back in 2009.

7. Online Traffic Leads to Greater Offline Sales

When asked, 70 percent of the PwC Total Retail 2015 survey respondents said they’d intentionally browsed products online, and decide to buy them in-store. Many consumers use online stores primarily for conducting research and comparing other products.

8. Digital Currencies Are Becoming More Popular

The Total Retail Survey revealed that 39 percent of the respondents could envision themselves using digital currency in the future. Only 25 percent of the sample was able to rule out using digital currency in the future, so if it does gain in popularity your business will most likely have to adjust.

9. Consumers Research Online Before Making a Purchase

The data shows that close to 65 percent of retail sales are now influenced by the digital space. Nearly 80 percent of the digital shoppers conduct research online before making purchases at the store.

10. The World Will Continue to Become More Digital

The increasing number of new opportunities available out there are mostly digitally based right now. The innovations that will shape the marketing and advertising going forward are designed around being digital and scalable online.

Join the discussion One Comment

  • Nice read, I just passed this onto a friend who was doing some research on that. And he actually bought me lunch since I found it for him smile Thus let me rephrase that: Thanks for lunch!

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