How Seamless are You? retail research findings


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How Seamless are You?
Accenture went on a journey to understand consumer preferences to shop seamlessly across channels
and the ability of retailers to deliver that seamless experience.

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How Seamless are You? retail research findings

  1. 1. How Seamless are You?Accenture went on a journey to understand consumer preferences to shop seamlessly across channelsand the ability of retailers to deliver that seamless experience.Seamless Retail GlobalBenchmarking:60 global retailers evaluatedacross 80 questions and 6capabilities.How We Measured it:Seamless Retail Global Customer Survey:6,000 people surveyed in 8 countries: UnitedStates, U.K., Germany, France, Sweden,Japan, China and Brazil.Results analyzed by demographic, retailsegment and country.What We Measured:Consistent ExperienceCustomers are able to enjoy an easy, brand consistentshopping experience regardless of channelConnected ShoppingThe end-to-end shopping experiencefeels connected across channelsFlexible Fulfillment / ReturnsRetailers offer multiple fulfillment and returnoptions convenient to the customerPersonalized InteractionPersonalized customer promotions and loyaltyrewards across channelsBetter, Faster, and MemorableRetailers are testing new technology and engagementmethods to enrich the customer experienceIntegrated MerchandisingAssortment and pricing integrated across channelsmeet customer expectations
  2. 2. Like to Shop Online (Apparel) 52% 53% 70%Like to Shop via Mobile Device (Apparel) 11% 13% 24%Like to Shop in Physical Store (Apparel) 86% 83% 80%Showroomed at Least 1x in the Last 6 Months 73% 77% 85%Flexibility to Pay Anytime / Anywhere (cash, credit, other)–Important / Very Important77% 73% 65%Same Day Delivery –Important / Very Important24% 42% 38%Think “Integrating Stores / Online / Mobile” is WhereRetailers Need to Improve Shopping Experience Most49% 48% 38%The Seamless Consumer is a Global PhenomenonAt the geography level, there are many similarities and some differentiationin consumer expectations of a retailer’s seamless capabilities.North America EALA APAC
  3. 3. The 25 and 55-Year Old Seamless Consumershave More in Common Than You ThinkMillennials appear to be defining new behaviors that are quickly spreading to other age groups.MILLENNIALS(1980 - 2000)GEN X(1964 – 1980)BOOMERS(1946 - 1964)Percentage WhoWould Use Real-Time ProductAvailability toInfluence HowThey ShopReturns –PercentageWho WillGo with“CheapestOption”RegardlessPercentageWho areShowroomingMore ThanThey Did 1Year AgoPercentage ofConsumersWho WouldShop Onlineor Via Mobileif They Want aProduct Outsideof BusinessHours from TheirFavorite RetailerIn Common...Where There’s Divergence...Millennials are 1.5x more likely toincrease their mobile purchasesgoing forwardMillennials are 3x morelikely to be influencedby social media1.5x 3x48%54%62%93% 90%84%44%39% 41%37% 37%34%
  4. 4. Price Still Rules in a Seamless WorldAt the end of the day, price is still the greatest determining factor in a consumer’s purchasing decisions.WhatInfluencesYou MostWhere / HowYou Shop?3%PriceLocation (I only shopstores that are nearby)Product brand nameKnowledgeable in-store associatesRetailer’s overall brand imageCustomer reviewsIn-store product demosVirtual / video product demosWhat my friends or family havebought or want to buyNone of the above32%18%11%10%9%7%6%3%2%When PurchasingOnline or via MobileDevice, WhatInfluences YourPurchase Decisions?Best priceShipping costsQuick and easy paymentsEasy to navigate site or appBest productsAccess to customer reviewsFiltering my search based onfeatures that matter most to meSimple view, especiallyon small screensWeb chat customer supportInteractive video productdemonstrationsRemote QR code ordering72%59%41%38%36%30%22%19%10%9%4%$ (Multiple Responses)
  5. 5. Consumers Increasingly Expect Integration ofthe Big Three (Product, Promotion, and Price)Beyond just seeing a consistent brand across channels, consumers expect a fully integrated and connected shopping experience.Expect it to be thesame or less In-StoreConsumers who report having one accountfor use In-Store, Online, and Mobile Device tomake check out easy and faster.Consumers who report having an accountcompletely connected between purchases andloyalty points both Online and In-Store.In-Store Online Mobile DevicePromotions(discounts, sales)Price(including taxand delivery)ProductAssortment51% 81%49% 45%63% 83%Expect it to be thesame across channelsExpect it to be thesame across channelsExpect it to be sometimesdifferent across channelsExpect it to be thesame across channelsExpect it to be thesame or more In-Store45% 43%
  6. 6. Seamless Means Personalization atEvery Touchpoint, and That’s OKConsumers desire personalized experiences through every engagement channel – tailored to their needs and preferences.Percentage of consumers who reportdesiring the following personalizationfrom retailers, across all channels:Percentage of consumers who reportthe following currently influence ormay influence in the future:I can receive unique pricing,automatic discounts, freereturns, or pre-sales based onmy loyalty / purchase historyI can earn and use my loyaltyrewards In-store, Online oron a Mobile DeviceMy account is completelyconnected betweenpurchases and loyalty pointsboth Online and In-StoreI may have one account touse In-Store, Online, andon Mobile Devices to makecheck out easy and fastIn-Store OfferE-mail CouponsText OffersMobile Banner AdsOnline Pop-Up53+4745+5555+4555%53%45%43+5743%90+1059+4190+1050+5045+5590%90%59%50%45%
  7. 7. Retailers Have Focused on the Easier Capabilities –Now It’s Time to Address the Tougher OnesOur research shows that retailers have underinvested in 4 out of the 6 dimensions that consumers are demanding.Foundational Leading EdgeConsistentExperienceDepartmentGrocery/DrugHardgoodsHyper/MassSoftgoodsFlexibleFulfillment/Returns✚ Highly AdvancedPersonalizedInteractions● Absent ■ Underdeveloped ★ Developed ◆ AdvancedBetter, Fasterand Memorable◆ ■ ■ ■ ★ ■◆ ● ● ■ ★ ●◆ ■ ■ ■ ★ ■◆ ■ ■ ■ ★ ●◆ ■ ■ ■ ★ ■Most important based onconsumer feedbackConnectedShoppingIntegratedMerchandisingWhere retailers haveinvested the most
  8. 8. Retail Segment MattersWhen Investing in Seamless CapabilitiesNot only do retailers’ seamless capabilities differ by segment, but so do consumer expectations.Relationship Between Consumer Online ChannelPreference and Seamless CapabilitiesPercentage of Consumers Who Prefer Online Shopping2.01.00% 50% 100%Insights...Retailers thatare ahead of thecurve stand tobenefit the most bydifferentiating fromtheir competitionand positioningthemselves tobuild the highestcustomer loyalty.DEPARTMENTSTORESSPECIALTY–HARDLINESSPECIALTY–SOFTLINESDISCOUNT/MASSMERCHANTGROCERY/CHAIN DRUGSeamlessCapabilityScoreAs consumersmigrate theirseamless shoppinghabits acrossretail formats, thequestion is who willbe ready for them?
  9. 9. Becoming Seamless Isn’t an “Either / Or”to a Sound Value PropositionSeamless capabilities are critical for a Retailer’s success, but the fundamentals still matter.Looking ahead, retailers should be excited yet pragmatic about what seamless means for their business.BUSINESS STRATEGY#1#1#1#1#1 #1UNDERLYING CUSTOMERVALUE PROPOSITIONBRAND+ +
  10. 10. Seamless Will Lead to Collaboration across Retailersand with Existing and Emerging 3rd PartiesRetailers will need to seek out strategic partnerships to build better, faster, and memorable emerging capabilities.When the Consumer Says…“81% of us rate as Importantor Very Important the flexibilityto pay for product anytime andanywhere, using cash, credit, orother payment types(e.g., mobile wallet)”“80% of us rate asImportant or VeryImportant the ability topick up or arrange fordelivery of our purchaseregardless of how we paid”…It Means These Non-CoreCapabilities Take Added Importance…Mobile WalletPayment ProcessingIntegration of Banks/Creditors/Loyalty/Apps/Smartphones/POSAbility to ScheduleAssets/Labor AroundVariable DemandCustomer OrderManagementDelivery Assets/Delivery Routing...And This Type of CooperationBecomes the FutureTRACKYOURORDER
  11. 11. The Efficient Innovators Will Win the Seamless GameConsumers are quick to change their priorities and expectations of retailer capabilities.Which of These Would You Use if Offered on Your Mobile Device While In-Store?Gather loyaltypoints or savingsas you shopbased on currentpromotionsOffer real-timepromotions youmight be eligible for(e.g., buy 2 get 1free, coupons)Order out-of-stockitems in-store for homedelivery, or store itemsinto your wish listShopping list andfind items in thestore (item locatorand navigation)Scan products asyou put them intoyour shopping cartView othercustomer’sratings andreviewsOrder whateverproducts you need froma single retailer, even ifthey are not normallycarried by the retailerSuggest complementaryproducts based on what Ialready scanned into mybasket / shopping cartProvide productsuggestions tomanufacturersPay withyourphone atcheckoutTell me if I scanned something that Ishould NOT buy based on dietary orreligious restrictions, etc.Post what you like to Facebook or Twitter(pictures of products, special offers, newproducts, etc.)88%88%82% 79%77%74%71%63%62%61%43%38%
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