How Retailers Can Cater to Shoppers Who Hunt, Not Gather
By now, most large retailers have implemented all the changes they expect will help boost their 2015 holiday sales - replatformings are complete, websites have been redesigned and supplementary technologies have already been added - because there needs to be ample time to work out the kinks before shoppers begin buying for winter's gift-giving holidays.
With only a couple months (maximum) integration time, however, there is another platform that is worthy of a merchant's consideration. Point Inside - used by such retailers as Lowe's and Target - is a way for top retailers to bridge the physical and digital channels. Although that's a promise many companies make these days, Point Inside has continually worked on its offerings since 2009 to provide a truly innovative way to give online shoppers (especially those who need to purchase items quickly, offline) the answers to, "Do you have it?" and "Where can I find it?"
The reasons why this type of functionality are important is because (1) Deloitte's latest study projects that digital interactions are expected to influence 64 cents of every dollar spent in retail stores by the end of 2015, and (2) Deloitte data indicates nearly 8 in 10 consumers (76 percent) interact with brands or products before arriving at the store. In Deloitte's words, "Consumers are hunters, not gatherers, once they arrive at the store." For these reasons, solutions like Point Inside make sense. The way Target uses the platform is by integrating Point Inside's features, such as product search (click for image), mapping and navigation (click for image), shopping list creation (click for image) and personalized recommendation within its branded mobile app (but there are other uses cases for the technology, as well).
Shoppers who use a mobile app, like Target's, with Point Inside’s platform, StoreMode, have an increased basket size of 2–4 times than shoppers who do not use a retail app with StoreMode.
The way it works is retailers give Point Inside acess to data streams like catalogs and inventory for each store, and then Point Inside integrates that information into its platform which is uses to map out each store so consumers know whether the retailer has what they need and where they can find it if they do.