Retailers Have a Unique Opportunity to Create Consumer Value
Written by: Sue LeClaire
A recently released report by A.T. Kearney entitled “On Solid Ground: Brick-and-Mortar Is the Foundation of Omnichannel Retailing” compares physical and digital shopping experiences to determine which is more influential in the consumer’s purchase journey. Based on their findings, the authors advocate that a physical store location is an integral component of the consumer’s path-to-purchase. The report is based on interviews with the complete spectrum of shoppers – Seniors to Teenagers. The bottom line: the foundation of a shopper’s path-to-purchase is the physical store. In addition, the authors state that retailers have a unique opportunity to create consumer value by delivering an omnichannel experience.
This last finding from the report is worth calling out — how retailers can use digital channels to build consumer value, a prerequisite for purchase. Traditionally, value was built when consumers visited the store as part of the discovery process. In-store, retailers had any number of ways to deliver consumer value such as the availability of sales staff to answer questions. Now, discovery is often conducted online well before consumers venture to a store. In response, retailers are re-imagining how to provide worth to consumers via digital channels.
Based on over seven years of experience, our retail customers are achieving success in delivering consumer value using omnichannel throughout the entire path-to-purchase. For example, during discovery our customers provide supplemental product information via beacons or QR codes. Once consumers are engaged, they sign-up to receive marketing messages and mobile coupons through a retailer’s call-to-action. Mobile coupons have significantly higher redemption rates compared to paper coupons making them cost effective for retailers. Additional ways some of our retailers create value using digital channels include personalized offers based on consumer preferences and past purchases or order online / pick-up in store.
For more information, click on Mobile Engagement Platform to learn how to create consumer value, engage customers and build relationships.