This is a guest article by Rick Patsos, Manager of the Lead Generation team at Wiser.
Brick and mortar retail is not dead. Not even close. Physical store transactions still account for almost 90% of all purchases. Most surveys show that more than half of the current shoppers prefer to make their purchases in-store. Then why have retail sales continued their steady decline? Retailers do not know what their shoppers want in their shopping experience because there is a major lack of in-store data.
The challenges of omnichannel retail are constantly changing. Excelling in omnichannel is important because shoppers have so many different means to connect with the retailers. It’s about using all of the retail channels (web, social, brick and mortar, third party reseller, etc.) to create a seamless shopping experience. Most consumers today will check in on more than one of these channels before making a purchase. Consumers want the price to be the same when they get to the store was it was when they were doing their research online, because that is what was in their budget to pay. Also, if there is no way to check if the product online is available in their local store, 80% of consumers reviewed said they would not turn up.
Consumers are using the omnichannel world to their advantage when making a purchase. Brands and retailers need to do the same and turn omnichannel into a competitive differentiator. How do you do that? Well, you can use retail audits as your ally. Shopper sentiment and shopping experience are important, but difficult to measure. Shopper intercepts and end of receipt surveys can only get you so far. Leading brands and retailers are using current mobile and big data technologies that are helping their retail audit data match up with their eCommerce data.
Surveys can be sent to thousands of people, but what good is that data if you do not know for sure how many of them represent your average shopper? That’s why Mobee’s shopper sentiment data is the best. Mobee, while still allowing you to reach thousands of people, is able to get shopper data from the shelf. This information is actionable because the data cycle is much shorter than with traditional means.
Want to know what your shoppers want? Just ask them.
Need better data to inform your decisions? Whether in-store or online, Wiser has you covered from pricing to assortment to promotions. Schedule a meeting today to learn how to turn retail data into action.