[September 14, 2015] |
|
L2 Releases Intelligence Report: Omnichannel Retail in Partnership with RichRelevance
Stores are the new black. Retailers have realized that, in order to stay
relevant, every aspect of their digital experience - site, mobile, app,
email - must have an in-store component. The rewards are phenomenal:
omnichannel capabilities boost customer experience while increasing
operational efficiencies. Brands excelling at omnichannel are closing
unproductive locations, and using technology to facilitate higher
performance in well-performing stores.
L2, the global benchmarking firm for digital marketing, today released
the Intelligence Report: Omnichannel Retail study. Developed in
partnership with RichRelevance, the new report examines the efforts of
116 U.S. retailers and 18 European brands, highlighting the disruptors
and innovators in the space. The report quantifies the organizational
and technological best practices that enable brands to deliver a true
omnichannel experience, while providing a detailed benchmark of online
and offline drivers across luxury, prestige and mass pricepoints.
Key Findings & Trends
An excerpt of The Intelligence Report: Omnichannel Retail report
is available for download at http://www.richrelevance.com/insights/l2-omnichannel-report/.
Key takeaways include:
Omnichannel Leaders & Laggards
-
Luxury: In the 'luxury' category, Gucci and Louis Vuitton posted
omnichannel gains in 2015 buoyed by ecommerce capabilities.
-
Prestige: Nordstrom & Neiman Marcus emerge as omnichannel leaders; J
Crew drops back in 'prestige' reshuffle.
-
Mass: Mass retailers such as Walmart and Best Buy (News - Alert) remain all about
store incentives (versus the digital slant of luxury retail).
Themes That Will Define Holiday 2015
-
The Amazon Prime effect: Pentration, profitability and preferences
around free, fast and same-day shipping.
-
Flash vs. function: Focusing on sexy one-offs with new technology
means missing out on low-hanging fruit.
Strategies: Site, Shipping, Store
-
In-store pick-up lags. Only 31% of US retailers offer
click-and-collect capabilities for online shoppers (compared to 88% of
European retailers who offer this feature).
-
Email drives store traffic. The use of email to promote online and
in-store sales, store-only sales and hybrid fulfillment all showed
gains in 2015, while the amount of emails showcasing online-only sales
dropped from 35% to 31%.
-
Retailers take back control of free shipping? The number of
aspirational and prestige brands offering free shipping by price point
continued to dwindle in 2015 (to 66% and 72% respectively.)
-
Real-time inventory visibility is at a tipping point. Currently 48% of
US retail brands have real-time in-store inventory visibility (up from
36% in 2014) compared to 50% of UK brands and 46% of EU brands. The
outlier is luxury with only 8% providing this capability.
Comments on the News
-
Brands excelling at omnichannel are providing inventory transparency
across channels, leveraging their brick and mortar footprint as
fulfillment centers, and using technology to enhance customer
engagement. In 2012, only one in seven consumers visiting stores were
touched by digital; now it's every two out of three consumers. The
biggest mistake a brand can make is size their digital investment to
their eCommerce business. To be successful in omnichannel retail,
brands should be scaling their digital investment to the size of the
overall business. - Maureen Mullen, Co-founder and Head of Research, L2
-
A best-in-class omnichannel experience is ultimately about
understanding the shopper very well and using this insight to serve
her meaningfully - on time, wherever and however she shops. A
retailer's ability to unify customer and product data across online
and store systems is the single greatest factor determining
omnichannel success. Achieving a true 360-degree view of the customer
allows retailers to expand and strengthen omnichannel capabilities,
and go beyond the status quo to develop entirely new experiences that
respect the shopper's goals, behavior, context and moment-to-moment
relationship with a brand and its products. - Diane Kegley, CMO,
RichRelevance
About L2 Inc.
L2 is a member based business intelligence firm that benchmarks the
digital performance of consumer brands. Our research currently spans 16
regions and covers 10 industry verticals including: Luxury, Beauty, CPG,
Retail, Sportswear, Food & Drink, Consumer Electronics, Hospitality, and
Auto. L2 helps senior leadership assess their digital performance and
shape their digital roadmap to achieve greater ROI on human, creative
and financial capital.
About RichRelevance
RichRelevance is the global leader in omnichannel personalization and is
used by more than 200 multinational companies to deliver the most
relevant and innovative customer experiences across web, mobile and in
store. RichRelevance drives more than one billion decisions every day,
and has generated over $10 billion in sales for its clients, which
include Office Depot, Costco, Marks & Spencer and Darty.
Headquartered in San Francisco, RichRelevance serves clients in 42
countries from 9 offices around the globe. For more information, please
visit www.richrelevance.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150914005210/en/
[ Back To TMCnet.com's Homepage ]
|