Survey confirms shoppers want more information, less friction across channels
Vianen (Netherlands) and Bangalore (India), January 10, 2015: A study released today by Mindtree provides critical insights into the evolution of the “phy-gital” shopper and the kinds of experiences and features that would encourage them to shop more. These phy-gital shoppers have a world of information at their fingertips and they’re just as comfortable shopping online as they are in a retail store.
The independent study, “Discover the Phy-gital Shopper: A Survey by Mindtree,” found that these high-expectation shoppers combine online and in-store shopping experiences in whatever way is most convenient for them. Their behavior has flipped the traditional supply and demand model. With today’s connected shopper, demand now discovers supply. At the hint of a need, this new breed of shopper interacts with various media and devices to find what they want.
The paradigm shift is fueled by new technologies such as cloud apps, machine intelligence and connected smart devices. With these technologies maturing rapidly, shoppers are becoming more sophisticated by the day. The opportunity is there for retailers to meet these shoppers at the critical moments across all media, devices and channels—and to offer a remarkable experience that makes them stand out in the marketplace.
The study surveyed 400 customers across Benelux, asking them to rate different online and in-store features across grocery and home and garden segments. Although shopper preferences and desires differed somewhat by market segment, five broad themes emerged that retailers will find useful:
Doug Stephens, Retail and Consumer Futurist; Founder of Retail Prophet said, "Until recently we have tended to view the dynamic between the web and physical stores as binary, with one format winning out over the other. This clearly isn't true. We will see ecommerce become increasingly physical, tactile and immersive, and the in-store experience significantly more web like, connected and data-rich. In fact, technology is rapidly driving the evolution of both formats. In time, the lines between the two formats will become so blurred it will be difficult to know if the retail experience we've just had was digital or physical."
Radha R., Mindtree’s Executive Vice President of Retail, CPG and Manufacturing, said, “With half of all Benelux shoppers now qualifying as ‘phy-gital,’ it’s time for retailers to take notice. Benelux shoppers have seen that technology can make their lives more efficient and less demanding. The retailers that meet those expectations are the ones who will grow in this new landscape. Obviously there is no one-size-fits-all approach, but the smart retailers will conduct a comprehensive assessment of their omnichannel readiness”
Mindtree [NSE: MINDTREE] delivers technology services and accelerates growth for Global 1000 companies by solving complex business challenges with breakthrough technical innovations. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. We are among the fastest growing technology firms globally with more than 200 clients and offices in 14 countries.