The Driving Factors Behind Modern Consumer Behavior in the New Omni-Channel World [Infographic]
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Modern consumer behavior has altered so drastically over the last few years that even in a healthy economy, retailers aren’t feeling the revenue benefits. Is it that shoppers aren’t shopping? The data suggests that isn’t the case. Instead, deep discounts have obliterated margins, as has free shipping for even the Amazons of the world (no, it’s not even profitable for them).
What’s the solution? Getting smarter about sales channel strategies. See, consumers behavior now suggests that shoppers browse and buy on various channels. Few are loyal to only one. Sure, price impacts conversion rates and abandoned carts, but so to do many other factors including the lack of a brick-and-mortar location, delivery lag and privacy concerns.
Of course, even with those issues at hand, more and more people are buying online –– and doing it from wherever is the most convenient. Some are shopping from bed, in the bathroom, at work –– no place is safe from our desire to hit the buy button.
The next question is, with all this data on omni channel retailing, how will retailers alter their merchandising and channel strategies to better attract customers and provide that seamless omni-channel experience that is still much more consumer fantasy than reality.
We’ll have to leave it to the retailers to see.
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