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Showrooming: Learning to Woo Customers and Win Sales - IN-Store- Superzoo- 2013
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Showrooming: Learning to Woo Customers and Win Sales - IN-Store- Superzoo- 2013

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Learn how and why show-rooming can and will hurt your retail business and what you can do about it...

Learn how and why show-rooming can and will hurt your retail business and what you can do about it...

Published in: Technology, Business

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  • 1. 1 When Customers Do Research Online - Or in Your Store - Do You Win? July 24, 2013 For A Copy Of Today’s Presentation 2 Ways To Obtain A Copy: 1. Log On To Our Facebook Page: www.facebook.com/CBCGroup • When Customers Do Research 2. Email CBCG lynn@cbc-group.net Creative Business Consulting Group www.cbc-group.net Shopping Isn’t What It Used To Be ..
  • 2. 2 Creative Business Consulting Group www.cbc-group.net • How Consumers Shop Today • Where Are Consumers Doing Research For Shopping • What Tools Are Consumers Using To Research • Turning Browsers Into Buyers How To Create An Engaged In-store Selling Approach Seminar Objectives Creative Business Consulting Group www.cbc-group.net Today’s Consumers Want To Be Served • Retailers Must Make Shopping Convenient • Consumers Already Know Which Products And Brands They Need Before They Enter The Store • Consumers Have Formulated Opinions By Consulting Family, Friends And Strangers. How Does Today’s Consumer Shop? Creative Business Consulting Group www.cbc-group.net They Want To Be Served • Retailers Must Make Shopping Convenient • Consumers Already Know Which Products And Brands They Need Before They Enter The Store • Consumers Have Formulated Opinions By Consulting Family, Friends And Strangers. They Listen To Their Families And Friends First • Consumers Talk To Relatives And Friends • Only 18% Of Consumers Rely On Retailers And Manufacturers Information To Make Purchase Decisions How Does Today’s Consumer Shop?
  • 3. 3 Creative Business Consulting Group www.cbc-group.net They Want To Be Served • Retailers Must Make Shopping Convenient • Consumers Already Know Which Products And Brands They Need Before They Enter The Store • Consumers Have Formulated Opinions By Consulting Family, Friends And Strangers. They Listen To Their Families And Friends First • Consumers Talk To Relatives And Friends • Only 18% Of Consumers Rely On Retailers And Manufacturers Information To Make Purchase Decisions Social Media Channels Are A Rich Source Of Information And Influence • 50% Of Consumers Who Follow A Brand On Social Media Submit Their Own Comments • 40% Are More Loyal To Brands They Have Engaged With Online How Does Today’s Consumer Shop? Creative Business Consulting Group www.cbc-group.net How Does Today’s Consumer Shop? • Knowledgeable, Empowered, Dynamic, Smart • Technologically Savvy; Increasingly Smarter Seeking More And More Information Than Ever Before • Gaining 24/7 Access To Data Through A Variety Of Sources: Mobile Devices, Tablets, Apps And Social Media Does Your Brand Meet Consumer Needs? Creative Business Consulting Group www.cbc-group.net Purchase Decision Influences Are Different Between Generations
  • 4. 4 Creative Business Consulting Group www.cbc-group.net Consumers Have Changed How They Research Products • 97% Of Consumers Are Now Researching Products And Future Purchases Online* • 90% Of Consumers Are Utilizing Search Engines February 2012 ClickIQ Creative Business Consulting Group www.cbc-group.net Consumers Have Changed How They Research Products • 97% Of Consumers Are Now Researching Products And Future Purchases Online* • 90% Of Consumers Are Utilizing Search Engines • On Average Consumers Are Looking At 7.9Different Sources For Product Information BEFORE Making A Purchase • 42% Are Using Comparison Shopping Engines To Research Purchases February 2012 ClickIQ Creative Business Consulting Group www.cbc-group.net Consumers Have Become More Sophisticated In Their Approach To Shopping 2012 Deloitte Retail & Consumer Spending Survey, 40% Of Smartphone Owners Use Their Phones For In- store Price Comparisons- Top Mobile Shopping-related Activity Smartphones Will Influence 19 Percent ($689 Billion) Of U.S. Retail Store Sales By 2016*
  • 5. 5 Creative Business Consulting Group www.cbc-group.net Show Rooming Can Be Costly In 2 Ways; Lost Sales and Product Wear And Tear Definition Show rooming: Customers Go To A Local Store Touch, Feel And Learn About Products They’d Like To Buy, Then Head Online To Purchase The Product (For Less) • Customers Use Price Comparison Tools And Software While In A Brick And Mortar Retail Location The Leading Mobile Retail Activities Among People Using Smartphones: 1.Find A Store (33%) 2.Compare Prices (21%) 3.Look For Deals (20%) Creative Business Consulting Group www.cbc-group.net Learn What Comparison Tools Your Customers Are Using Creative Business Consulting Group www.cbc-group.net Google Shopper *BIA/Kelsey Group 2012 • Google Shopper App Is Available For The IPhone And Android Phones • Lets Users Scan Product Barcodes And Compares The Price With Other Listings In Google’s Database • Since This Is A Google Product, Each Listing Features Detailed Descriptions And Reviews, And It Has Directions And Contact Information For Nearby Stores Built Into It • Google Offers Available On the App- People In Select Cities Can Find Promotions Going On Near Them.
  • 6. 6 Creative Business Consulting Group www.cbc-group.net Red Laser *BIA/Kelsey Group 2012 • Smartphone App Good For Doing Quick Price Comparisons • Shoppers Use Their Phone’s Camera To Scan The Barcodes Of Products In Stores And RedLaser Will Compare This Information With Other Products In Its Database • (Sites Like Ebay, TheFind And Google Product Search) • Redlaser Takes GPS Location Into Account And Recommends Nearby Stores Where Customers Can Find The Same Product For Less IPhone And Android Creative Business Consulting Group www.cbc-group.net Decide.com *BIA/Kelsey Group 2012 • Free App Find Gadget Prices Online And Nearby • Notes Whether There's A New Model Due Out Soon Or Other Factors That Could Impact Pricing • App Users Can Scan Barcodes Or Type In A Product Name To Find Items, And Sign Up For Price-drop Alerts If They Decide To Wait. • •IPhone, Android Creative Business Consulting Group www.cbc-group.net Price Check by Amazon *BIA/Kelsey Group 2012 • Free Price-check App That Lets Users Search By Scanning A Barcode, Snapping A Picture Or Saying Or Typing In The Product Name • Available For IPhone And Android Users On Other Platforms, Including Blackberry And Windows, Can Use The Amazon Mobile App, Which Offers The Same Price- checking Capabilities, But Requires An Extra Click Or Two To Access Them Among Other Features In The App.) • The Catch With Both Amazon Apps, Of Course, Is That They Only Check Prices On Amazon.
  • 7. 7 Creative Business Consulting Group www.cbc-group.net2012 Deloitte Retail & Consumer Spending Survey • Shoppers Are Still Seeking Satisfying In- Store Experiences—it’s Just How And When They Decide To Open Their Wallets That Has Changed • 61% Of Smartphone Owners Who Use Devices For Comparison Purposes Have Bought Goods In A Store • Consumer In-store Mobile Activities Add To Rather Than Take Away From, In-store Sales • Smartphone Users Are 14% More Likely To Convert In A Store Than Non-smartphone Users The News Is Not All Bad - Consumers Are Still Looking For Personal Interactions Creative Business Consulting Group www.cbc-group.net How To Turn A Browser Into a Buyer? • Train Sales Associates To Help Customers With The Decision Making Process • Educate Associates On ALL Products • Provide Customer Opinions On Products (Showcase Online Reviews) Employee Training/Enhanced Customer Service Creative Business Consulting Group www.cbc-group.net How To Turn A Browser Into a Buyer? • Train Sales Associates To Help Customers With The Decision Making Process • Educate Associates On ALL Products • Provide Customer Opinions On Products (Showcase Online Reviews) • Stress The Benefits Of Immediate Delivery Vs. Online Shipping Fees And The Hassles Of Returns/Exchanges For Online Sales • Know the Price Comparison Tools That Customers Are Using • Equip Sales Associates With In-Store Technology to Improve/Enhance Shopper Experience (Tablets, etc.) • Price Match If Appropriate Employee Training/Enhanced Customer Service
  • 8. 8 Creative Business Consulting Group www.cbc-group.net How To Turn A Browser Into a Buyer? Merchandising • Creative/Interactive Displays Are Key Advantage To In-store Experience • Optimally Display Products To Enhance Shopping Experience Creative Business Consulting Group www.cbc-group.net How To Turn A Browser Into a Buyer? Merchandising • Creative/Interactive Displays Are Key Advantage To In-store Experience • Optimally Display Products To Enhance Shopping Experience Coupons/Exclusive Offers • Encourage/Incent Shoppers To Buy Immediately • Downloadable QR Codes • Google Shopping Paid Ads • Retailmenot (IPhone App) Offering Coupons • Facebook Offers Creative Business Consulting Group www.cbc-group.net How To Turn A Browser Into a Buyer? Merchandising • Creative/Interactive Displays Are Key Advantage To In-store Experience • Optimally Display Products To Enhance Shopping Experience Coupons/Exclusive Offers • Encourage/Incent Shoppers To Buy Immediately • Downloadable QR Codes • Google Shopping Paid Ads • Retailmenot (IPhone App) Offering Coupons • Facebook Offers Location Based Marketing Programs • Offer Programs/Deals That Incent Customers To Make In-store Purchase • Train Your Staff On How To Find These Applications While They Are Working With The Customers To Insure Purchase Conversion
  • 9. 9 Creative Business Consulting Group www.cbc-group.net How To Turn A Browser Into a Buyer? *BIA/Kelsey Group 2012 • Incorporate Online And Mobile Technology Tools Into Marketing And Advertising Platforms • Using Mobile Technology To Better Serve Customers (In-Store w/Employees and To Customers With Location Programs) • Use Google To Run Unique Search Ads Based On Proximity To Your Location • Offer Discounts Or Coupons For Brands If A Purchase Is Made In-store In Your Search Copy • Create Facebook Offers For In-store Purchases Only Multi-channel Marketing Techniques Creative Business Consulting Group www.cbc-group.net What’s Next? • Mobile Wallets Hold Consumer Gift Cards, Gift Certificates, Tickets, Coupons And More In Their Mobile Phones • Interact With Their Customers With Little Competition. Engage Customers With Special Offers And Discounts Only Accessible From Their Mobile Wallet And Only Redeemable In Stores • Provide Hyper Local Content That Leads To More Relevant Advertising Gyft, Passbook And Google Wallet Mobile Wallet Marketing Creative Business Consulting Group www.cbc-group.net Retailers Will Succeed When They Engage More Effectively With Sophisticated Consumers
  • 10. 10 Creative Business Consulting Group www.cbc-group.net 28+ Years Retail Industry Experience Fortune 500 Sales and Marketing Executive; Business Strategist Experienced Brand Manager And Marketing Executive Developer Of Successful Marketing And Social Media Campaigns Contact Information: (617) 437 -9191 Email: lynn@cbc-group.net Creative Business Consulting Group – Lynn Switanowski