In 2010, digital was changing the in-store shopping experience in ways that were yet to be understood. Many believed that online shopping would never grow significantly and couldn’t foresee it as a threat to physical store sales, but data showed otherwise. By the end of 2015, over 70% of all in-store sales were influenced by digital, while the number of actual store-goers decreased 60%, when compared to 2010.
The truth is, digital has reshaped customer behavior and shopping for good, and that’s something retailers should be paying attention to while adjusting their business to this reality. Many jewelry business owners are still reluctant about investing in digital, much of which is due to the fact that they simply don’t know how.
I love showing this chart as it’s really hits a cord with many retailers. I always here retailers say, “my traffic is down, long gone are the days of customers waiting on line to buy.”
So I ask, are your sales up since 2010? Yes, most reply; so again I ask, how could that be if the lines are no more? And that’s the “Ah Ha” moment; because they’re shopping online first, and THEN coming in to buy.
A consumer no longer goes from store to store “shopping,” they’re now “browsing” online store to store, and then going to a store to “buy.”
Consumers Are Still Buying
Consumers are getting more and more demanding; they want exactly what they are looking for and not settling for anything less. On that matter, a quick web search on your browser is easier and faster than a visit to the mall.
Considering those facts, we can see that the competition is also changing. A store’s biggest threat may not be the national eCommerce-only player anymore.
Digital influence has been rapidly helping small and new businesses grow through creating a strong online presence, delivering quality customer experience, and gaining a piece of the market share.
It’s All About Your Customer
Today’s customers are highly digital and have high expectations for what they want while shopping, be it online or in-store. The more integrated and multi-channel your business is, the more likely they are to shop at your store.
Companies are understanding the importance of having touchpoints, both online and offline with their audience; digital is fundamental. The physical store still plays a very important role on influencing a customer’s buying decision.
It is essential for stores to digitize, in order to meet their customers’ expectations. That’s a never ending job of improving your website, getting up to date with new technologies and trends, making your website mobile optimized and user friendly, allowing one click purchases, and many more.
The key is to perceive your brand as a whole, making your brick and click experience function as one.
Are you delivering the experience that your customer expects you to? What about your competitors? Should you be focusing on them or on your client’s needs?
Consumers are still shopping, but are they shopping with you?