A key dynamic that has changed for retailers with the advent of online shopping is the impulse buy. In the past, retailers stood to gain signifcant revenue from shoppers who entered a store and ended up purchasing many more items than intended. Compounded with changed habits due to the recession, the impulse shopper has morphed into the 'mission shopper.' Shoppers now do more purchasing online, and if they do enter retail outlets, they are more efficient with their purchase. They find their item and checkout, with little browsing involved.
Retailers have updated strategies to drive additional sales with the changing retail landscape. Tablet devices such as iPads are used at many stores to help shoppers put together an outfit or order out of stock items. Retail will continue to change with the growing presence of online commerce, however in-store integrated digital strategies will help to ensure better sales wherever the shoppers are.
http://www.msnbc.msn.com/id/45308303/ns/business-holiday_retail/t/retailers-change-snare-shoppers-caught-web/
1 comment:
This is so true- the surge of online reviews, scanning barcodes/QR codes, comparison shopping (visit "thefind.com") and promo codes has made shopping more efficient then ever. This has forced retailers to offer competitive pricing and differentiate based on service, breadth of offering or an alternative dimension.
An interesting side effect of the online shopping trend has been the increase in trying new brands/products. With groupon, livingsocial, birchbox, gilt and more, consumers are introduced more than ever to new products. Even better, these introductions are usually made intelligently, based on previously expressed preferences, what their friends like, or what they previously purchased. I personally have loved the the joy of discovery, especially when it comes at the discounted prices offered online.
I'm curious to see what the next phase will be. Will there be a movement back to high touch, in person experiences, or will the brick and morter store become obsolete?
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