A lot is happening in the way of omni-channel retail and the amount of information out there can be overwhelming. I've rounded up the top 4 (free) resources that provide insight into today's consumer behaviors & omni-channel trends.
Forrester Consulting: Customer Desires Vs. Retailer Capabilities: Minding The OmniChannel Commerce Gap. January 2014.
A Forrester Consulting Thought Leadership Paper Commissioned By Accenture and hybris, an SAP company, discusses the growing disparity between what today’s customer wants and what retailers have the capacity to deliver. Top findings include:
- Technology investment is critical to enabling exemplary omni-channel customer experience.
- Omni-channel customer experience is now a brand differentiator.
- Many retailers have reached a false state of omnichannel comfort.
- New titles alone won’t cut it — retailers must abolish siloed channel strategies altogether.
PwC: Total Retail 2015: Retailers and the age of disruption. February 2015. Based on a global consumers survey of 19,000 consumers in 19 countries.
PwC discusses the four forces disrupting retail:
- The changing role of the store
- Mobile and related tech
- The proliferation of social networks
- Demographic shifts.
A.T. Kearney: On Solid Ground: Brick-and-Mortar is the Foundation of Omni-channel Retailing. February 2015.
The Omnichannel Consumer Preferences study is the newest in A.T. Kearney's series of breakthrough research in retail innovation. The report summarizes the findings of the study, based on an independent survey of more than 2,500 consumers and interviews with dozens of retail executives. Key facts and figures:
- 95% of all retail sales are captured by retailers with a brick-and-mortar presence.
- 2/3 of consumers who purchase online use the store before or after the transaction.
- The value of stores for customers and retailers is far greater than the sales that are captured within them.
- Physical stores help retailers drive online stores.
- It's not physical or digital, it's physical with digital. Having multiple channels is good for business.
Accenture: How to Make Money in a Seamless World. March 2015.
Accenture went on a journey to understand consumer preferences to shop seamlessly across channels and the ability of retailers to deliver that seamless experience.
Key findings include:
- Shoppers are finding it easier to shop seamlessly across channels (store, online, mobile, tablet).
- People shopping after business hours prefer going to the store the next day to make their purchase versus waiting for something to be shipped.
- Consumers are slightly less comfortable providing their personal information even in exchange for a more personalized experience.