Retailers are entering a new era of consumer shopping behavior fueled by the digital world in which we live. The explosion of digital content has major implications for retailers across all of the channels through which they offer products and services.
In fact, a new study just released by the Cisco Internet Business Solutions Group (IBSG) reveals that web-based digital content is now the most powerful influence on buying decisions for shoppers across all retail channels. The study surveyed 5,000 shoppers across five countries: the United States, United Kingdom, Brazil, Mexico, and China.
The study’s results highlight the need for retailers to “catch and keep” today’s consumers, who now effortlessly “mash-up” digital and physical shopping. At this week’s National Retail Federation (NRF) Convention & Expo, Cisco will explain how retailers can take advantage of this evolution in consumer shopping behavior.
This is our sixth preview of what Cisco will be showcasing at the 102nd National Retail Federation Convention and Expo on January 14 and 15, 2013 in New York City.
Today’s retail stores need be more technology enabled than ever before supporting new generation of shoppers that expect a convergence of physical and digital experiences. Today’s retail information technology teams need to enable mobility, cloud computing and video technologies to create a create a compelling shopping environment.
These retailers understand they are competing against “showrooming” with E-commerce only retailers and consumer uncertainties over the economy. Many have developed unique shopping experiences to attract customers and here are some that stood out for me this holiday season before I head over to New York for the NRF 2013 Convention in January.
Uniqlo is a Japanese based international fashion retailer which opened its San Francisco store this October with great fanfare, including enlisting Japanese YouTube feline star Maru to promote their San Francisco store opening.
Some of the things that stood out for me at the store are:
Success in retail hinges on a deep understanding of consumers. Anticipating their wants and needs — then offering the right product, in the right place, at the right time, and for the right price — has always been paramount.
To truly understand today’s consumer, however, retailers need to address a new dimension that is challenging retailers in unprecedented ways: data. Not just traditional data – Big Data.