What Are You Waiting For? Personalization and the Omnichannel Shopping Experience
Despite loads of evidence that digital experiences that are personalized outperform those that are not, Internet retailers have been relatively slow to adopt technology to make it happen.
Omnichannel commerce platform Kibo and Astound Commerce have released a joint study which assessed the current personalization and omnichannel sophistication of retailers testing metrics across desktop, mobile and in-store buying touchpoints and the results are disheartening to say the least.
The study, which examined four categories including fulfillment and inventory, personalization, pricing consistency and in-store signage revealed some rather interesting highlights.
Fulfillment and Inventory
+ 87 percent of retailers provided a product locator on their website; only 35 percent displayed quantity of inventory available
+ 97 percent of store associates could access inventory levels; of those
+ 66 percent had to be at a terminal behind the counter, and only one-third utilized handheld or mobile technology to provide a seamless experience.
+ 24 percent could locate inventory but could not place the order for the shopper.
+ 70 percent of personalization experiences on an eCommerce site only happened when the shopper was logged into an account.
+ 4 in 10 retailers did not send an email following an abandoned cart on a website. Of those retailers that did send an email, zero offered an incentive to purchase.
+ 4 in 10 retailers did not display recently visited items on a website upon a consumer’s return visit.
+ 16 percent of retailers had inconsistent pricing between the store and their e-commerce site.
Although a majority of retailers had signage promoting omnichannel offerings and guiding in-store foot traffic, 37 percent are missing the opportunity to streamline the in-store shopping experience with basic communication.
“While the number of retailers with access to enterprise-wide inventory and some personalized experiences has grown, many are missing the basics for a seamless customer experience," said Tushar Patel, CMO, Kibo.
"This year, we have identified crucial gaps across digital and in-store buying touchpoints that can significantly improve the shopping experience. These include some of the basics: personalization for all shoppers--known and unknown--with more relevant recommendations and promotions, and allowing access to inventory information across the entire buying journey with the ability to place an order efficiently. Retailers that close these gaps will deliver better experiences for their consumers and will be the winners of tomorrow’s retail industry. Those who do not take action today will risk long term sales growth and customer loyalty.”