Consumers Engage Retailers MORE on Social

Infosys just released a new report on “Rethinking Retail” that has some great stats supporting retailer use and optimization of social – supported with even more insight & ideas on their Rethink Retail Microsite.

Key findings of the study

  • Social media matters
    • Consumers interact with retailers’ Facebook pages (38 percent) more than the brands’ own websites (36 percent); a difference that is significantly more pronounced for younger consumers
    • 89 percent of those who interact with a retailer online through any social media outlet say that the interaction has an impact on their purchase
    • Women are twice as likely as men to be influenced by Pinterest; YouTube influences twice as many men as women
    • Only 2 percent of all people polled say that FourSquare has any influence on their purchase
  • Brand consistency across channels significantly impacts consumer spend
    • Nearly two-thirds of consumers say that consistency plays a role in their tendency to spend with a brand (63 percent)
    • A third (34 percent) say high consistency across a brand’s channels would mean a greater spend, while a lack of consistency results in a reduction in their spending (39 percent)
  • Consumers see far fewer in-store personalized offers than retailers claim they offer; retailers losing out
    • 59 percent of consumers who have experienced personalization believe it has a noticeable influence on their spending
    • Though 62 percent of retailers reported that they offer personalized offers in store, only 20 percent of consumers report seeing ‘in-store only’ personalized offers
  • Online shoppers are regularly targeted with more personalized perks than those who shop in-store
    • 39 percent of brands offer product recommendations based on customers’ previous purchases online, versus only 10 percent in-store. A minority (45 percent) have offers both online and in-store
    • 48 percent of organizations offer personalized offers / promotions based on customers’ previous purchases only online, just 3 percent do so only in-store. A minority (45 percent) have offers both online and in-store
    • Consumers are three times more likely to impulse-buy in a store than online
  • Lack of technology limits retailers who want to offer superior customer experience
    • 96 percent of consumers expect retailers to inform them of new products. Only 34 percent of retailers, however, can track consumer trends in real time, reducing their ability to rollout appropriate offers which can drive sales
    • Lack of technology is the most common factor (38 percent) preventing retailers from creating a more integrated customer experience within their organization

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s