Shifting Shopper Preferences: Analyzing The Latest Data on Cross-Channel Trends

2,293 views

Published on

0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
2,293
On SlideShare
0
From Embeds
0
Number of Embeds
130
Actions
Shares
0
Downloads
81
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Shifting Shopper Preferences: Analyzing The Latest Data on Cross-Channel Trends

  1. 1. Your GoToWebinar Attendee Viewer is made of 2 parts: 1. Viewer Window 2. Control Panel Type your question here
  2. 2. Jim  Bengier   Global Retail Executive Sterling Commerce an IBM Company Troy  Brown   Retail Practice Leader Demandware, Inc. Debbie  Hauss   Executive Editor Retail TouchPoints  
  3. 3. Agenda for Cross-Channel Brand Interaction 2010 Consumer Preference Survey   Introductions   Key Results from the Survey   Survey Released at Shop.org Annual Summit   Sterling Commerce’s point of view   Demandware’s point of view   The Future of Cross-Channel   Questions 4 © 2010 IBM Corporation
  4. 4. Overview of the 2010 Consumer Preference Survey   2010 versus 2007 consumer expectations   Importance of Cross-Channel to the Consumer   Required Cross-Channel Capabilities   UK versus US Consumer Expectations 5 © 2010 IBM Corporation
  5. 5. Consumers Cross-Channel Expectations Have Changed 2007-2010 Comparisons1 Cross-Channel Consumer Expectations 2007 2010 Complete an order anywhere 55% 61% Modify an order anywhere 65% 74% Track an order anywhere 56% 87% Shipping Notice (via any combination of channels) 94% 88% Shipping Delays (via any combination of channels) 91% 91% Delivery Notice (via any combination of channels) 78% 79% Cross-channel return to store 90% 84% 1 Source: “Cross-Channel Brand Interaction: 2010 Consumer Preferences,” Sterling Commerce, DemandWare 6 6 © 2010 IBM Corporation
  6. 6. They’ve Raised The Bar Even Higher 85% of respondents “expect a seamless experience across all channels for a retailer”. 1 1 Source: “Cross-Channel Brand Interaction: 2010 Consumer Preferences,” Sterling Commerce, DemandWare 7 7 © 2010 IBM Corporation
  7. 7. And, The “Spoiled” Consumer’s Expectations Have Expanded Importance Of Cross-Channel Capabilities 1 Notify when item is ready for in-store pickup (important to very important) 91% A negative experience online gives me a negative impression of the retailer over all 62% Notify when frequently-purchased item will be on sale (important to very important) 59% Maintain cross-channel customer history (important to very important) 53% What impact does your online shopping experience on a retailer's website have on your overall perception of the retailer's brand? 48% Importance of social media when shopping online or via mobile (important to very important) 22% Access product reviews when shopping online or via mobile (important to very important) 75% Chat with CSR when shopping online or via mobile (important to very important) 53% 1 Source: “Cross-Channel Brand Interaction: 2010 Consumer Preferences,” Sterling Commerce, DemandWare 8 8 © 2010 IBM Corporation
  8. 8. Consumer Expectations in UK Versus US 2010 Comparisons1 Cross-Channel Consumer Expectations UK US Have high expectations of a seamless cross channel experience 87% 85% Want in store pick up/returns 78% 83% UK consumers less likely to buy extras while picking up at store 23% 40% Experience frequent OOS for promotional products 32% 32% Uncomfortable making purchases on mobile phones 71% 69% Use mobile to more to assist than to buy Check product availability 29% 28% Purchase products 12% 7% Market “Cross-Channel Brand Interaction: 2010 Consumer Preferences,” Sterling Commerce, DemandWare 1 Source: place is the most useful mobile shopping app 69% 66% © 2010 Sterling Commerce intellectual property. All rights reserved. 9 © 2010 IBM Corporation
  9. 9. Survey Was Released at 2010 Annual Shop.org Summit   Tuesday Afternoon Invitation Only Executive Summit –  125 Senior Level Retail Executives –  Key Note Speaker was Terry Lundgren, Chairman and President of Macy’s   Comments –  Terry referred to the new “Omni” channel and Macy’s IT budget –  Executives took notes on customer preference –  Everyone was in agreement on the required cross- channel focus 10 © 2010 IBM Corporation
  10. 10. Sterling Commerce Point of View 11 © 2010 IBM Corporation
  11. 11. Retail Transformation Store Primary shopping venue Singe touch point On-Line Compete against pure play New customer touch point Cross Channel Customers shop Omni Integrate Channels Technology view New Relationships © 2010 IBM Corporation
  12. 12. Three Key Findings From the 2010 Customer Preference Survey   Meet the “Rewired” consumer –  No longer separate channels, but consumers use touch points –  Connectivity is the answer   Convenience and flexibility are deciding factors for the consumer –  66% consider it important to be able to determine in-stock availability before visiting a store   Technology in the consumer’s hands is Leading retailers –  Mobile capabilities for price, 30%; specials, 28%; availability, 26%; item location, 16% 13 © 2010 IBM Corporation
  13. 13. Order Management System: The “Brains” of Your Cross-Channel Fulfillment Must Provide: Flexible Fulfillment Management By Exception Inventory Optimization Real-time Decision Support (SmartApps™) Source: AMR, “Unlocking Cross-Channel Benefits Through Advanced Order Management”, September 20, 2009 14 © 2010 IBM Corporation
  14. 14. Our Customers Are Investing in Cross-Channel Technology © 2009 Sterling Commerce intellectual property. All rights reserved. 15 © 2010 IBM Corporation
  15. 15. Four Areas Where Retailers Are Investing in Cross-Channel Technology   Inventory Visibility & Available to Promise –  Consolidate inventory information across multiple systems, enterprises, and participants –  Intelligent sourcing engine optimizes inventory use across the extended enterprise to provide best Available-to-promise (ATP ) dates   Orchestrate Inventory Fulfillment –  Coordinate complex fulfillment across the extended enterprise –  Provide a single order repository to modify, cancel, track, and monitor the order lifecycle in real-time –  Configurable, adaptive processes   Returns and Exchanges –  Enable cross-channel returns and exchanges –  Automate returns disposition such as return to stock, return to supplier, or destroy –  Link return requests to original sales orders, to enable lifecycle tracking   Delivery, Service and Scheduling –  Ability to schedule delivery, installation, and other add-on services at time of order transaction –  Rules-based promising, provider selection and crew allocation 16 –  Integrated control of inventory, delivery and services execution © 2010 IBM Corporation
  16. 16. What Is the Future of Cross-Channel?   Terminology- “Omni” seems to be taking hold   Technology will continue to lead retailers   Seamless customer experience regardless of start and stop points 17 © 2010 IBM Corporation
  17. 17. Demandware Strongly Branded eCommerce Since 2004 Innovated merchant-centered tools to support strongly branded customer experiences Relieved IT burden with first SaaS eCommerce platform with continuous innovation, full customization and utility-level reliability Delivered on a shared success business relationship that builds long-term partnership Your Brand. Your Consumer. Demandware. Copyright 2010Demandware, Inc. - Confidential
  18. 18. Demandware Strongly Branded eCommerce Since 2004 Your Brand. Your Consumer. Demandware. 19 Copyright 2010Demandware, Inc. - Confidential
  19. 19. Brands Extend eCommerce Branded Consumer Engagement Copyright 2010Demandware, Inc. - Confidential
  20. 20. Branded Engagement Brand Strength In Every Consumer Experience Merchandising Sales Marketing Brand Values Service Brand Promise Branded Engagement Expresses your brand Delivers relevant Builds an through every aspect of experiences emotional and the consumer across rational bond experience consumer’s between the need consumer and your brand Copyright 2010Demandware, Inc. - Confidential
  21. 21. Branded Engagement Foundational Considerations •  Focus investment at the branded engagement application level versus expensive integration and throwaway custom code •  Flexibly integrate merchandising, sales and service at the business process level, enabling rapid response to changing consumer demands •  Unified data underpins the lifecycle of browsing, consideration, purchasing, service –  Customer, product, orders, inventory Copyright 2010Demandware, Inc. - Confidential
  22. 22. Your GoToWebinar Attendee Viewer is made of 2 parts: 1. Viewer Window 2. Control Panel Type your question here
  23. 23. Download this PowerPoint Presentation: http://www.retailtouchpoints.com/shifting-prefs

×