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PENNYSAVER February 26, 2014
In-Store is King By Frank J. Rich
“real people,” to intrude, indeed, replace the opportunity for a conversation over something “According to the results of the latest study of of value to both—buyer and seller? Has anything “Seamless Retailing” by Accenture, 21% of U.S. important to this fundamental equation really shoppers said they plan to increase their in-store changed? Of course not! Why, because people purchasing, up from just 9% of shoppers in the don’t change; at least not in the ways that makes previous year. 40% of respondents, when asked them people. to name what retailers need to improve the More reliable than an Omega watch, people most, ranked improving the in-store shopping want, no need, to have two things to effectively experience first, compared to just 16% who said manage their sense of belonging: the same of online shopping.” 1. A relationship with others, including Chris Donnelly, global managing director of store personnel, and Accenture’s Retail practice, notes that “… survey 2. A good (customer) experience. results indicate that retailers have an opportunity Punto y final! to increase in-store sales… only if they make the experience Can Main Street provide? You bet, and better than any giant worthwhile… such as information (online) on product availstore or the vast variety of webpages variously designed of ability… available in-store… street retailers must… differentiate elements not so easy to quantify. Look again if you have doubt. (their) shopping experience… compared to Ways to Compete online pure-plays…” •“Click and collect” services (reserving In light of the near deafening, repetAll this to say that the or buying an item online and then traveling itive cries across all media screaming out a store to collect it) are growing favor, an shopper remains true to80% to consumers that the Internet is the growth over 2012. only place to shop, this research and the •100% more shoppers are buying to his preference for experience of shoppers everywhere, tells a in-store and having product shipped to convenience and different story. What does this mean for their homes. And when able to check Main Street businesses? Simply this! You availability before going to the store has good treatment. are not dead or prey for big box stores or improved the shopping experience for the Internet; they who are losing share to 31%, according to the study. local stores daily. You are vital and necessary because: •Webrooming (browsing online then making an in-store 1. People are invested in the communities where they live purchase) and showrooming (the opposite), have become and work. common practice, both exciting over 70% of customers. And 2. They spend an overwhelming part of DPI locally. (Have free delivery has become the norm, making reasonable charges you tried buying gasoline and home heating fuel across for next day service more acceptable to a growing number of the Internet?) shoppers. 3. People relate to their neighbors and communities •Consistent pricing across all media offerings is now more than their institutions—educational, government, expected by over one-half of all shoppers, who agree that the or churches. They relate by their senses, not by Boolean shopping experience is much improved when uniform pricing logic in digital square waves … 01010010011011110! is managed effectively. Even more stochastic than the senses, their proprioceptors All this to say that the shopper remains true to his preference collating sensory data to form the “adaptive unconscious”—a for convenience and good treatment. For all that changes, simple hunch—are the Internet squares that brainwash everything remains the same. If this research applies to box thinking consumers who don coat and hat and jump in the stores—and it does—their weakness is Main St.’s strength. car with their all-connecting hip cricket on the way to the Donnelly concludes that “… delivering a seamless experience store to buy something—mostly food. How have we allowed across all retail touch points remains both a key challenge and so distant a methodology from the natural exchange between prime opportunity for retailers today…”
ROI
Frank Rich is founder and CEO of Encore Príst International, an organizational development company that helps individuals and organizations reach their full potential through the practice of effective business fundamentals. You may reach him at fjrich@encoreprist.com, or by phone at 866/858-4EPI. To read all ROIs, go to news.townlink.com and click on Blogs.