Cross-Channel is now part of everyday language in the boardrooms and on the store floors of today’s most successful retail businesses. Cross-Channel customers are more profitable than single-channel customers, according to 96% of retailers surveyed in the recent Retail TouchPoints Cross-Channel Checkup survey. To meet the needs of this growing target group, retailers must employ a multi-faceted cross-channel strategy.
The Cross-Channel Checkup study can help guide retail companies in their efforts to create a comprehensive and consistent cross-channel strategy.
Some key issues addressed in the survey include:
- Measuring the profitability of cross-channel customers
- Benefits of a cross-channel strategy
- Using analytics to evaluate cross-channel business processes
- Cross-channel order/pickup/delivery options for shoppers
- Distribution center synchronization
- Empowering store associates with mobile technology
As many as 98% of today’s retail companies are working toward a cross-channel strategy, according to the survey completed in September 2011. The majority (57%) of retail respondents already define their retail strategy as cross channel ― ensuring seamless interactions/transactions in all available channels to promote engagement with the brand. Most of the remaining respondents (41%) said they are working toward a cross-channel strategy.
For the survey, Retail TouchPoints received responses from retail executives in a variety of industry segments. In total, survey respondents currently receive their greatest revenue from brick-and-mortar stores (66.7%) and the online company web site (56.9%).
Empowering Employees Is Key To Cross-Channel Success
Every day more retailers are realizing the importance of arming their store associates and store managers with the same or better information that their customers possess when they enter the store.
Shoppers are previewing product and pricing information online or on their mobile devices before they even set foot in the door. Store employees must be at the ready to answer questions and provide real-time information or risk losing a sale and a customer to a competitor.
The first step in this process is ensuring that all information is consistent across all channels. The industry is slow to complete this process, with 31.7% of survey respondents reporting that the same information is available in-store, online, via mobile, social and call centers. Another 22% say that consistent information is available in some but not all channels. But the greatest number of retailers (36.6%) still have not yet coordinated information across channels, although they plan to do so.
In the survey report, retail respondents also share their insights into the benefits of empowering store associates. They also report on the level of price matching, cross-channel product delivery options, and much more.
Please complete the form below to access a free download of the complete Cross-Channel Checkup report.