In retail, there is often a divide between e-commerce and brick and mortar sales, but brands that want to level up their consumer engagement should be looking to merge the two channels rather than keep them apart. Shoppers today have instant access to information via their smartphones, many times preferring online reviews, coupons and product searches to speaking with a sales associate.
In a March 2019 survey by RetailMeNot 69% percent of respondents said they would look for product reviews on their phone first, rather than asking for help in the store. Additionally, 53% of shoppers would search for deals or coupons via their phone, before speaking with an employee. It’s called the “halo effect” where online and in-store purchase impact each other and it’s a crucial concept for brands and retailers to grasp.
A recent survey by the International Council of Shopping Centers found that when a shopper spends $100 online and then visits the brick-and-mortar store for that retailer within 15 days of the online purchase, they will spend, on average, an additional $131. Clearly, online transactions are becoming a sales driver for physical store locations. It works the other way as well; if a customer purchases something in a brick and mortar location and then visits the retailer’s online platform within 15 days, spending jumps to a total of $267. The halo effect, when utilized properly, can convert browsers to brand fans.
ThirdChannel can help you marry these channels to unlock sales. Brands that work with us get expert advice and cloud-based retail analytics to increase their visibility in stores. Our software platform makes use of sales figures, foot traffic, location data, and inventory to provide a hub of information, available in real-time 24/7. Physical and digital are really just two parts of the same whole and pairing the two is essential.
Check out some of our success stories to see how we make it work.