Retailers must develop a coherent omnichannel experience that bridges that gap between online and in-store in order to boost brand loyalty and secure revenue
The days of the traditional pure-play retailers are coming to an end, according to ecommerce solutions provider Tryzens. Retailers must do more to survive the difficult consumer market in order to stay current and appeal to a wide range of consumer patterns and behaviours.
With eight in ten consumers globally using smartphones, laptops and tablets while shopping suggesting that ecommerce is on the rise, research also shows that 53% of consumers still prefer traditional ‘bricks-and-mortar’ shops when making final purchases. Retailers must be doing more to develop a seamless omnichannel experience, where the lines between online and in-store are seamless in order to maximise returns and consumer satisfaction.
“It is natural for retailers to move towards capitalising on technology to help boost their customers experience and provide an additional revenue stream, but it must not be at the expense of their traditional retailing methods (unless they are a pure-play ecommerce retailer),” says Andy Burton, CEO of Tryzens.
“Physical stores can be very expensive, getting the right location with the right reach and expereince, but research suggests the over half of all final purchases are made in-store, where the option exists. By showcasing products in department stores, some retailers can get around the costly rental prices associated with running their own store whilst also appealing to customer desire for in-store final purchase. For those with their own store footprint in place, the opportunity to leverage sales through click and collect/reserve and collect capabilities from the website are well known, as is the ‘halo’ effect that web traffic often grows for ecommerce sites in areas where a physical store is present.”
“It’s hardly news to say that consumers are increasingly choosing to shop online. There has been a steady growth in the number of online shoppers for the last 15 years as access to the internet has become progressively ubiquitous. This trend has been reinforced by the rise of mobile devices in the market, such as tablets and smartphones, which allow people to shop online from wherever they are and at any given point in time. So far so good in terms of teaching granny how to suck eggs. But there is a bigger trend at work here and retailers need to address this head on and now”
“Consumers are increasingly made up of digital natives, those who have no experience of doing anything without a form of a digital element (whether that’s shopping, consuming content like music, films and TV, connecting with friends, or studying), and this trend will not only continue but will accelerate. We call them Generation Consumer – the Millennials have come of age!”
“What’s more, a number of bricks-and-mortar retailers who found success in a predictable, ‘slow and steady’ era are finding it difficult to adapt to this new and unprecedented digital age. Many have struggled to compete with ‘pure-play’ internet retailers that offer greater convenience and often more competitive prices, added Andy.
Ecommerce has come a long way in developing retailers’ online capabilities. By allowing users to browse selected products any where at any time, and with multiple delivery options and simple returns, the accessibility for consumers has never been greater. But the stores in our High Streets, Malls and Retail Parks should be a part of the ingoing digital imperative. With a seamless omnichannel experience, where the consumer can move from online stores to in-store without difficulty, retailers are enhancing the consumer experience, helping to boost brand loyalty and secure.
“With a coherent omnichannel solution, retailers can enhance their attraction on the high street. By utilising technology such as social media, loyalty schemes, click/reserve and collect, retailers can engage with their consumers on a more personal level like never before. By tracking cached items, favourite products, push notifications, consistent page views and more retailers can make a concerted effort to enhance the overall shopping experience for their consumers.”