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Rethinking Retail

Insights from consumers and retailers into an omni-channel shopping experience

Infosys commissioned independent technology market research specialist Vanson Bourne to undertake the research upon which this report is based. Two sets of interviews were conducted in December 2013, the first consisted of 1000 interviews with US consumers and the second consisted of 50 interviews with marketing decision-makers in retailers with more than 300 physical stores. Interviews were conducted online and by telephone using a rigorous multi-level screening process to ensure that only suitable candidates were given the opportunity to participate.

Key findings of the study include:

  • Social media matters
    • 89 percent of those who interact with a retailer online through any social media outlet say that the interaction has an impact on their purchase.
  • Brand consistency across channels significantly impacts consumer spend
    • A third of consumers (34 percent) say high consistency across a brand’s channels would mean a greater spend, while a lack of consistency results in a reduction in their spending (39 percent).
  • Consumers see far fewer in-store personalized offers than retailers claim they offer; retailers losing out
    • Though 62 percent of retailers reported that they offer personalized offers in store, only 20 percent of consumers report seeing ‘in-store only’ personalized offers.
  • Online shoppers are regularly targeted with more personalized perks than those who shop in-store
    • 48 percent of organizations offer personalized offers / promotions based on customers’ previous online purchases, just 3 percent do so only in-store. A minority (45 percent) have offers both online and in-store.
  • Lack of technology is limiting retailers to offer superior customer experience
    • 96 percent of consumers expect retailers to inform them of new products. However, only 34 percent of retailers can track consumer trends in real-time, reducing their ability to rollout appropriate offers which can drive sales.
    • Lack of technology is the most common factor (38 percent) preventing retailers from creating a more integrated customer experience within their organization.

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