Whether consumers plan to purchase items online or in a physical store, they value consistency across all channels, according to a survey from Infosys.
Almost three quarters (72%) of respondents said consistency across online and physical stores was important; and 77% said they valued consistency across different physical branches. The study, titled: Rethinking Retail, spotlighted consumer perspectives regarding the omnichannel retail experience via a survey of 1,000 shoppers. Infosys also surveyed 50 U.S. retailers to understand how their organizations were keeping pace with consumer demands.
Overall, 69% of consumers said consistency affects their loyalty to a brand. Personalization is another major attribute consumers expect from their favorite brands and retailers. As many as 59% of shoppers who have experienced personalization believed it had a noticeable influence on their buying behaviors. On the other hand, an overwhelming majority of retailers (96%) said personalization influences consumer purchasing habits to some extent.
Online shoppers are targeted with personalized more regularly than those who shop in-store. For example, 39% of brands offer product recommendations based on customers’ previous purchases online, while only 10% do the same in-store.
In order for retailers to create an optimal experience across all channels, they need to embrace the latest technology. However, a lack of new technology is the most common pain point (38%) hindering retailers from creating a more integrated customer experience.
Social Interactions Impact Sales
Consumers are naturally curious, as 92% seek out products on their own, whether through personal research or through advertising. To find products, shoppers commonly browse Facebook, followed by the brand web site. According to the study, 89% of respondents who engage with retailers via social media say those interactions have an impact on their purchasing choices. Even more consumers (96%) expect retailers to inform their customers of new products at some point. However, only one third (34%) of retailers currently monitor consumer trends in real time, reducing their ability to roll out timely offers.
“Creating a consistent experience across all physical and digital touch points has a direct impact on sales,” said Sandeep Dadlani, Sr. VP and Regional Head (Americas) of Retail, CPG and Logistics at Infosys. “However, with the dominance of social media, creating a consistent and personalized relationship with consumers is now much harder. Retailers and brands need to arm themselves with the technology that can ensure their fans and brand advocates receive the same personalized service across channels to increase sales.”
Click here to access the complete Infosys report.