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Online Shopping Remakes Retail

By Dennis McCafferty on 2010-08-09


Innovation in retail technology is being driven in large part by Generation Y shoppers, who expect to be able to use texting and other increasingly commonplace tools to conduct commerce. Other generations are following suit, according to a big IBM survey of more than 30,000 consumers around the world. The research shows that mobile devices have become a critical retailing platform, while emerging technologies such as smart applications accessed via television could be on their way to redefining the retail experience. Shoppers of all ages can be expected to conduct significant online research and to make contact with retailers online before their physical shopping experience, if they make it to a bricks-and-mortar store at all. Consumers thus know more than ever about whatever is they want to buy, as well as how they want it and who they want it from. IT’s job is to put retailers in front of these highly-connected and knowledgeable consumers in ways that improve share of mind and share of wallet.
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66 percent of customers want to use mobile phones to check that the products they want are in stock before going to the store.

62 percent of those who shop via mobile phone would be willing to buy products advertised in magazines/billboards by sending a text.

33 percent of survey participants are likely to follow a retailer on a social-networking site.

36 percent of consumers are willing to use at least two technologies to browse for and buy products.

48 percent of Gen Y consumers will use at least two technologies to browse for/buy products, followed by Gen Xers (41 percent), post-Boomers (32 percent) and Boomers (22 percent).

92 percent of consumers want to use Web sites to compare prices; 71 percent want to use mobile phones to compare prices; 79 percent want to use Web sites to access/print coupons.

75 percent of consumers want to use Web sites to access information about their personal accounts.

75 percent of consumers want to use mobile phones to find out where the nearest store is located.

78 percent of consumers are willing to collaborate with retailers in developing new products/services that meet their needs.

64 percent who want to shop via digital TV are willing to buy products advertised on programs by pressing a remote-control button.

61 percent of respondents are prepared to spend more money with retailers who implement their suggestions.

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