When it comes to their customers, the phrase “getting to know you” is certainly on the minds of the savviest of retailers all day, every day. Not every shopper is going to fit into a perfect bucket of when and where they like to shop, but if retailers take the time to look close enough, certain patterns will begin to emerge.
In a recent survey of over 10,000 shoppers across 11 countries, MasterCard set out to define the behaviors and attitudes of consumers who purchase both online and offline within a 30-day period.
The result of the survey identified that the omnishopper (or a consumer that transcends channels) is a more focused in-store shopper that is now buying from a narrower list of unique stores than in years past. In other words, and according to MasterCard, this new power shopper has arrived globally and is your new best customer. Retailers, listen up! This omnichannel customer is:
- Tenacious: 51% say that the thing that frustrates them the most about merchants is they don’t know what they (shoppers) want
- Value-driven: 44% say value is what inspires them to revisit retailers
- Loyal: 70% like to buy from retailers they’ve bought from before
- Tech-Savvy: 80% use technology when shopping, and 72% have received automatic notifications from retailers
- Curious: 62% research more today than two years ago
The report also surmised several key findings about the new omnishopper, including the fact that the store is the “center of gravity” in their universe. Respondents to the MasterCard survey indicated they go to physical locations for the entertainment value of shopping, superior inventory levels and social interaction. This, combined with the fact that shoppers expect unique, digitally focused store experiences, puts even more pressure on the store to have that “wow” factor.
In our previous blogs, we’ve talked a lot about the importance of giving the Internet a permanent place within the four walls of the store and how electronic shelf labels (ESLs) can serve as natural connections between the digital and physical shopping channels. In a recent RIS News report, ESLs were listed as one of the key customer engagement tools that retailers should consider implementing to digitize the store, calling them a “secret weapon to winning back that ‘last mile’ between the store shelf and the shopper’s basket.” As well, almost 70% of the MasterCard survey respondents said price and quality is most important to them and that the more diverse information omnishoppers get, the more comfortable they are pulling the trigger on a purchase. The report also showed the top frustrations of the omnishopper - 73% said it was because items were not available, 63% said it was because store and web inventory differ, and 51% said it was a lack of personalized service. For retailers, this list of grievances is nothing new, but still high on their list of issues that need to be resolved, like yesterday.
For retailers who have not considered the ESL before to align omnichannel experiences in the store, you should certainly take a second look now. Not only can this technology eliminate the issue of inconsistent product messaging and price, it can directly impact the out-of-stocks and lack of personalization issues. A centralized ESL management software solution can give retailers the ability to change any digital content on any label, and a particular store and/or a specific shelf in real time. If the ESL is integrated with BLE beacons, retailers can not only communicate with store associates to give them access to inventory information, but can also push personalized content, offers and user reviews to a shopper via a mobile app. According to Mathieu Loury, senior vice president of Merchant Solutions for Mastercard Advisors, it is important to meet your omnishoppers at every step of their empowered journey, and create an ecosystem that propels them forward. At Displaydata, we are energized and inspired by what we continue to learn about the omnishopper – after all they are pushing us all to be better retailers and technologists. Let’s get to know them even better, aye?
Click here to download the full report from MasterCard.