The Web Platform to Lift Comparable Store Sales
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Retail ROI
Below are some ground-breaking stats garnered from shopping patterns of millions of cross-channel customers:-
- Average in-store conversion rates (the ratio of potential shoppers that have decided to buy) are between 50% and 75% for department stores and specialty shops. Much higher than average web conversion rates of 3% to 5% for ecommerce sites.
- Eighty-seven percent of customers cite shopping and buying in store as the most important shopping option across all the channels.
- Up to 98% of dissatisfied customers leave without providing feedback as they cite this as a waste of time.
- More than 30% of in-store sales are now influenced by prior online research, a trend that is poised to grow to 50% by 2012.
- For a large multichannel retailer, 25% percent of website visitors exhibit interest in pages related to offline information. 40% percent of those customers then make an in-store purchase.
- Online Store Locators account for almost one-fourth of total website traffic for large multichannel retailers.
- A Multichannel Customer that researches online spends twice as much in the stores as compared to an Online-Only customer.
- The highest rated tactic utilized by successful multichannel retailers to increase cross-channel sales is ‘promotion of physical stores via the web store’.
- ‘Printable Coupons’ is a top searched keyword with an average monthly search engine traffic five times that of keyword ‘Online Coupons’.
- Almost 50% of commercial internet searches are conducted by users seeking a local merchant to buy something offline.
- The U.S. now has more stores than consumer demand can support due to the rise of internet shopper. Store chains must take steps to make their locations more enticing destinations for this new kind of shopper.
- A recent survey of retail executives in the US showed that over 80% of retailers cite ‘number of store visits’ as the most important customer metric for their business operation.
The retail stats above provide compelling evidence that a fundamental shift is taking place in the consumer shopping behavior. Multichannel shopping has become a standard part of the purchase path for consumers, who increasingly use the web as a first touch-point and then hop channels before completing their purchase in any channel. In spite of this shift, most of the retail operations continue to run their stores and websites in complete silos due to lack of sophisticated technology solutions. LocalStore360™ is the first technology platform of its kind that allows local stores to fully exploit the marketing potential of the web, social media, search engines and mobile commerce. It enables multichannel retailers to increase the total number of store visits as well as the total number of in-store transactions from high value cross-channel shoppers.
LocalStore360 is Ideal For:
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Big Box Retailers |
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Department Stores |
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Specialty Retailers |
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Supermarkets |
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Restaurant Chains |
Smart Retailers use LocalStore360 to lift their in-store traffic. Using a combination of local web traffic, social media, search engines and mobile applications, we convert your online traffic into in-store sales.
