Using stores as showrooms for online purchases is the “new normal” for today’s tech- and Internet-savvy shoppers. So how do retailers “catch” these channel-hopping customers and “keep” them buying within their own brand?
The Cisco Internet Business Solutions Group (IBSG) believes retailers can increase sales both in stores and online by creating “mashops” that combine immersive online content with engaging in-store experiences. This idea is backed up by Cisco IBSG’s latest research, which revealed that digital content has reached a new level of influence.
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As NRF wrapped up it’ s 100th annual convention in New York City, there was a lot of talk around the topic of how to “save the retail store.” Accelerating use of technology by consumers is shaping their behavior and expectations in store. These changes, in turn, are challenging the sales and margins of retailers.
To determine how retailers can embrace this “technology-shaped shoppers,” the Cisco Internet Business Solutions Group (IBSG) surveyed 1,000 shoppers from the United States and United Kingdom. It found that consumers want a new way to shop. This new shopping experience is called “mashops.” It combines web-like experiences with the shopping experience in stores, creating a “Mash up” of the physical and virtual worlds.
In addition, the research also revealed that retailers should pay attention to two key customer segments: calculating shoppers (56 percent of the general population) and extreme shoppers (11 percent of the general population, with a high representation from Generation Y). And while extreme shoppers receive the most attention, calculating shoppers have the greatest impact on retailers’ revenues and margins.