Surviving in the omni-channel retail world of today

Technology continues to transform consumer experiences and expectations. The proliferation of smart mobile devices has changed how we communicate, view the world and accomplish everyday tasks. Shopping is clearly one of those tasks. In today’s convenience-driven, on-the-go world, more and more mobile apps are also available now to help make shopping easy using a smartphone or tablet.In the Southeast Asia region where six of the seven markets are developing markets, smartphone sales continue to intensify each consecutive month. GfK data shows that smartphone take-up has passed the halfway mark in the overall handset market. Sales volumes of tablets are also reaching new heights month after month.Many shoppers worldwide are blending online and in-store shopping on a regular basis nowadays, and the trend is upward, given the seemingly unstoppable expansion of the world wide web. However, the extent of this omni-channel shopping phenomenon still varies. Not only by country, but also by category.Rates of “omni-channel” shopping are especially high in regions with higher mobile device penetration – one of which is Singapore. Shoppers, who have a cell phone or tablet in tow, are more likely to consult online retailers and blogs before making a purchase.In a recent GfK Store Equity study conducted among Singapore consumers, more than two in five shoppers have purchased shoes and clothing online – making these the most frequently purchased items over the internet. Although fashion items and shoes are the most common items purchased in the past three months, bags, toys, baby care and sports equipment are also products which are attracting shoppers to spend a significant amount over the internet, although to a lesser frequency.Shoppers worldwide are already comfortable ordering their goods online, and the use of mobile wallet applications is winning converts. By personalising the mobile commerce experience further, marketers can tap into its inherent intimacy – and wealth of information.As the shopping process becomes more complex, there is the urgent need for dedicated shopper marketing and insights resources. Whether on web shopping sites or in brick and mortar stores, the shopper’s experience and wishes will remain essential to understand for brands and retailers alike.In this age of a highly connected society, social media is also playing a key role in influencing the consumer purchase decisions. Managed and leveraged well, mobile can deliver more and more paths for consumers to follow back to “traditional” and digital retail brands alike. The key is meeting consumers with the answers to their questions and problems, where and when they are needed most.This is where physical retail stores come into play. If anything, stores will become more locally oriented to leverage their special advantage as a neighbour and in-person advisor – a valuable differentiator from anonymous online shopping sites. At the same time, retailers must offer a seamless experience for shoppers between on and offline, so as to complete the conversion of a sale. It is especially vital retailers keep up with shoppers’ fast-changing habits and preferences, providing a well-calibrated mix of information, service and promotion.While many have forecast that cost-cutting online retail giants such as Amazon will use the internet and mobile to bring about the end of the brick and mortar store, it may simply be the start of an integrated shopping experience. In another GfK study on the purchase journey, over half of all consumer purchases involved both the online and offline aspect.Having the “inside track” on pricing and quality are among the top reasons why consumers research their products on the web. But, they still want to see and feel the products in stores. Shoppers pick and choose what best works for them financially, cutting down time at stores and accurately choosing the products that would best suit their needs.Expecting this, marketers at brick and mortar businesses have streamlined the process by displaying scanning QR codes next to their products to more efficiently serve these crafty consumers. And while this research is done at the store, shoppers often wait until they get home to a laptop or desktop to make their purchases. This gives brick and mortar retailers the opportunity to still win them over, even if it’s ordered through their online storefront.This is why it is essential to have a unified message and brand across platforms to solidify a brand’s image. Marketers can use this to their advantage through joint online and in-store campaigns that clearly demonstrate their worth, both monetarily and in service.The high rate of online researching and shopping – via a variety of devices – has created a host of “big data” information streams that can drive new insights on shopper behaviours. One area where big data will become increasingly important is mass personalisation. In the near future, we can expect to see a huge shift towards personalisation of shopper messaging on mobile devices. For example, targeted offers based on shopper loyalty card data will be delivered directly to smartphones and other devices, and will become a common marketing tactic; location meta-data will also play a big role.About GfKGfK is the trusted source of relevant market and consumer information that enables its clients to make smarter decisions. More than 13,000 market research experts combine their passion with GfK’s 80 years of data science experience. This allows GfK to deliver vital global insights matched with local market intelligence from more than 100 countries. By using innovative technologies and data sciences, GfK turns big data into smart data, enabling its clients to improve their competitive edge and enrich consumers’ experiences and choices. For more information, please visit www.GfK.com or follow GfK on Twitter: https://twitter.com/GfK_en