WANTED: Digital Shoppers
“Online shopping has become a multibillion-dollar revenue stream – not to mention it has completely turned the path to purchase on its head.” – CMO.com
As the marketplace changes to adapt to technology enhancements, so does the shopper; as the shopper adapts to marketplace changes, so must the retailer’s marketing. Who knows this best and continues to disrupt traditional ways of going to market with the big CPG brands? Who else but AMAZON! It's no April fools joke. They are delivering what the consumer needs before they can think of it.
But Brick & Mortar knows this is not just a struggle -- this is WAR.
Over the course of recent time, the technology-adapted shopper has become known as the “digital shopper” – one whose habits are still somewhat mysterious to retailers but imperative in getting to know. Here’s why.
Since 2010, U.S. online Consumer Packaged Goods (CPG) sales have gone from $12 billion to a predicted$32 billion this year; a Compounded Annual Growth Rate of 25%. Within the consumer product space, e-commerce is the fastest growing channel. On top of that, here are a few other impressive stats:
Online shopping retail salesare predicted to grow to $370 billion in 2017, up from $231 billion in 2012.
72% percent of Millennials research and shop their options onlinebefore going to a store.
Today’s online shoppers are looking for flexible optionsfrom retailers; 62% want to buy online and make returns in-store, and 44% want the ability to buy online and pick up at the a store.
So it’s safe to say that digital has become THE platform to drive business benefits.
Although the future in digital is becoming clearer, there is still much room for growth and experimentation. So far, the “digital movement” has caused changes to store trips, growth in e-commerce, complexities to the path to purchase, and shifts between planned and unplanned purchases. These dynamic changes in the digital shopping realm have led to the emergence “Clicks and Bricks.” Businesses are offering digital shoppers the choice to “Click-and-Collect” or “Click-and-Pick-Up Anytime,” combining Brick & Mortar retail with e-commerce.
Here’s what this all means - omnichannel is ultimately the future of retail. If retailers keep convenience, price-value and choice as top-level digital priorities, their digital shopper audience will grow.
Speaking of omni-channel, you don't want to miss GMDC's video cast coming May 22nd. It's free, engaging and insightful. You can register here: http://www.gmdc.org/gmdc-connect/events/upcoming-events