NEW YORK, Jan. 13, 2015 /PRNewswire/ -- A new IBM
(NYSE: IBM) study released today at the 2015 National Retail
Federation convention (#NRF15) found that while consumers are
growing more enthusiastic about online shopping and digital
interaction with retailers, their actual behavior lags behind. The
findings, indicating that consumer expectations are not being met,
identify clear opportunities for retailers to close the gap and
create new loyalty.
The IBM Institute for Business Value study analyzed four years
of survey data from over 110,000 consumers in 19 countries. It
found that consumers are now very comfortable with combining
digital and physical elements in their buying process. However,
while IBM's study found that 43 percent of consumers said they
prefer to shop online, only 29 percent actually made their last
purchase online. In some product categories such as youth apparel
or home decor, there is a nearly 20 point gap between the
percentage of people that say they enjoy shopping online and the
percentage of people who actually made their last purchase online
in those categories. This signals that retailers have an
opportunity to better meet consumer expectations online.
Similarly, while more consumers are willing to share social,
location, and mobile information with a trusted retailer compared
to last year, the study shows that sharing could be much higher.
Forty-two percent of consumers see the potential benefit of sharing
their location via GPS with retailers, but only 28 percent are
willing to do so -- even with a trusted retailer. Fifty-four
percent of consumers see the benefit of sharing mobile for text
with retailers, but only 42 percent would actually share this
information.
"With consumers switching seamlessly from online to the store it
might appear that retailers have finally struck the right balance,
but IBM's study identifies a significant gap between what shoppers
want from retailers and what they are getting today," said
Sarah Diamond, General Manager, IBM
Global Business Services. "Retailers may not be doing enough to
meet consumer expectations shaped by digital experiences outside of
retail -- from location-based services to preference-based apps.
The good news is that this gap also indicates the potential of
growth for retailers who can meet those consumer expectations."
What Consumers Want
High on the list of consumer requirements is a mandate for
inventory visibility. As consumer expectations for product
fulfillment are shaped by online shopping experiences, out-of-stock
situations are becoming less acceptable. Sixty percent of surveyed
consumers said it is important for them to be able to find out if
an item is in stock before going to the store. And 46 percent of
consumers said it's important that retail employees use mobile
devices to fix an out of stock issue, up six points from last
year.
A growing number of consumers said it's important that retailers
offer personalized promotions, particularly if they are presented
on demand. Forty-eight percent of shoppers value initiating a
personalized communication with a retailer when they are online.
When in the store, 44 percent of shoppers want on-demand
communication. Forty-one percent of consumers said it's important
that store associates offer personalized promotions based on their
purchase history or preferences, compared to 36 percent last
year.
Additionally, the study found that associates ranked last on the
list of trusted resources consumers access for product knowledge --
yet another sign that the role of the sales associate is
changing.
The study signals that retailers should prioritize empowering
their associates with tools to monitor inventory and offer
promotions instead of focusing on general product information
only.
For more information about the study and IBM retail,
visit:
Study: www.ibm.com/business/value/shoppersdisrupted
Press kit: http://www.ibm.com/press/smarterretail
Tumblr: http://ibmindustriesgomobile.tumblr.com/
Twitter: Join the conversation at #NRF15 or #SmarterRetail and
follow @ibmretail
IBM Institute for Business Value
Contact information
Ari Vanrenen
IBM Media Relations
1 (415) 713-1247
vanrenen@us.ibm.com
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SOURCE IBM