How to Succeed at Retail: Winning Case Studies and Strategies for Retailers and Brands
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For Gen Z, the 1 biggest online shopping issue is the difficult return process Seventeen percent say shipping costs are a big impediment, compared to In the regions we service larger metro areas , we see younger consumers being averse to any shopping behavior that puts a burden on their time. Older consumers seem more willing and comfortable using digital channels for research and information gathering that leads to an in person purchase through a pop up, branded retail store, or retailer. In the UK, Gen Z is the only age group to have no one report opting out of making large online purchases.
In other generations, 3. Credit cards and PayPal are neck-and-neck in the UK for large online payments —— with older generations preferring credit card and younger generations preferring PayPal. Here is how it breaks out:. The ways in which each generation leverages mobile when shopping is the most interesting difference across demographics. Younger demographics seem to have little or no fear around the idea of buying from a new brand using Venmo or Square Cash.
Older generations on the other-hand are still looking for a more traditional and secure experience when buying. The following data makes clear why.
[Case Study] 17 Omnichannel Strategies and Tactics Breakdown
However, contrary to U. Younger consumers expect to be able to pay in interest free installments or post-delivery via services like Klarna and use things like Apple Pay or Android Pay when on mobile for added convenience. When it comes to how financing affects purchasing decisions, Millennials are the most likely in the UK to have bought a more expensive option than if financing was not available I think the biggest shift in consumer expectations over the last year or two is around things like integrated stock visibility, returns and overall fulfillment — with larger multi-channel retailers creating an expectation and setting a precedent.
This same expectation applies to things like multi-channel loyalty and gift card usage, as well — which also represents an opportunity for brands to increase loyalty via a positive, integrated experience and lifetime spend via upsells and physically showcasing additional items. The biggest reason for returning an item in the UK is because the item does not fit, with the item arriving damaged being the second most popular reason.
Gen Z returns items Both Millennials and Gen Z also return items more often because they no longer need it. They do this at least 10X more often than older generations in the UK.
How long fulfillment takes, how smooth shipping was, the feeling when the consumer opens the box, how you deal with returns — all of that is part of the buyer journey and leads to repeat purchases and word of mouth if done well. The vast majority of online purchase returns will be sent back via mail, with bringing the item to a brick and mortar store being the second most frequent option.
Amazon drop off locations are also a quickly rising option across all generations. Baby Boomers in the UK are the least likely to return an item to an online store. Here is how it breaks down:. Buyers care about the entire shopping experience, so make sure to focus on more than just price. Things like convenience, selection, shipping times, return policies, all have an impact on the buyer. Now that it is as easy as the click of the button for a buyer to jump from one site to another, brands need to make sure that they are offering the full package.
Younger generations have been more active than older generations in requesting the deletion. In addition, most UK consumers feel as though retailers are respecting their data privacy. In turn, we highlight our Unique Safety Proposition more that usual when marketing to them. The more timely, relevant, and targeted your strategy is the better.
Retailers who are harnessing the power of all of their data to make informed decisions on which messages and products to market are winning the race to the top.
13 Winning Customer Acquisition Examples
By understanding segments of your audience based on historical data you have a higher likelihood of breaking through all the noise and actually converting a browser into a buyer. The data in this consumer research report should anchor your omni-channel strategy. However, how you implement that strategy will key to its success.
In order to be able to track and attribute channels accurately, never forget to use UTMs for the landing page links you provide in your acquisition ads. Also, optimize for mobile and do not forget to use email to acquire customers.
It is very cost effective and easy to track and attribute. You can grow your business by strategically integrating all these channels. The key is identifying the right audience. One audience integration profile is customers who have purchased a specific product. If you have two thousand people who have purchased this very specific product, why not build a lookalike from that? And then re-market to them? These people are going to be qualified.
And that specific product is really going to push towards finding other people who are going to also be interested in it. Retailers often resist omnichannel selling because they want to focus entirely on their own webstore. We encourage our clients to embrace marketplaces as an advertising and customer acquisition strategy. Once those buyers experience what makes you special, repeat buyers will come directly to you for expanded inventory options and a customized buying experience.
Omnichannel marketing is a key component to ecommerce success and world domination. Nothing is more important than taking a data-driven approach to omnichannel marketing. Data can be used at any stage ie planning, execution, analysis and is paramount in determining the true value of each channel.
24 Questions Every Retailer Should Be Able to Answer
Data tells you where your focus should lie and when to consider cutting back on a particular channel in favor of another that may be performing at a far more profitable return. Know your target market, where they are, and then be consistent across all those channels. Being in many channels may work well for your business, but only if you can measure results. Be sure to make sure that analytics is a major part of your omnichannel plans! Tracking cross-channel impacts of advertising is quite challenging. Retail, especially online retail, is getting to be a more crowded place as each day passes.
What is your average customer lifetime value? What is your acceptable cost of acquiring a new customer? What is your customer persona and what do they care about? Make every decision with those three things in mind. Most people do it in the reverse order and then wonder why they have experience gaps.
Take time to sit down with your team and actually map out 1 your customer personas and 2 how these personas flow through your user acquisition channels i. FB ads, Instagram, Google, etc. You can make it interactive by doing this on a wall in your office and using color coded post-it notes for each step of the journey. In economics terms, that uncertainty is what makes them an inefficient marketing place. Most purchases require multiple marketing touches. Product reviews, search results, blogger coverage, social strategy, all frequently play a shared role in a single sale.
2. Provide outstanding customer service
Try to avoid applying the same goals to every channel and instead consider how each channel can contribute to your strategy. Cannibalization of sales from multiple channels is a real risk but it needs to be weighed against the benefits these channels offer. Continuously test and optimize for success. You never know what channel, message, time of day, or means of engagement will work best until you test it. Before entering into new channels, spend time looking into how competitors or similar brands are utilizing the channel. The intent and expectations across channels varies greatly.
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For example, somebody scrolling on Instagram is very different than somebody searching for your product on Google Shopping, and the post-click expectations and costs will differ as well. Speak to the customer.