How to Catch' and Keep' Tech-Savvy Consumers - Slide 3

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Internet ubiquity, personal technology adoption and e-commerce growth have produced a new consumer behavior — cross-channel shopping. In this environment, consumers hop from one channel to another throughout the shopping journey looking for the best deal. For retailers that have achieved success through traditional practices (price, product, promotion and placement), cross-channel shopping demands a new approach to win customers.

The survey discovered that cross-channel shopping behavior is prevalent and desired by most consumers, with nearly 74 percent of all respondents conducting online research before making in-store purchasing decisions.

  • Fifty-three percent of shoppers reported current activity or interest in conducting research at an in-store kiosk and making their purchase immediately in the store
  • Forty-five percent reported current activity or interest in conducting research with a mobile device and then making their purchase in the store
  • Forty-four percent reported current activity or interest in conducting research with a mobile device and then making their purchase on a PC

A Cisco (NASDAQ: CSCO) survey released recently identifies new ways for retailers to "catch" and "keep" channel-hopping customers to revitalize brick-and-mortar stores. Conducted by Cisco's Internet Business Solutions Group (IBSG) — the company's global consultancy — and Cisco's retail marketing team, the study surveyed 1,000 U.S. and 1,000 UK shoppers. Among the research's many key findings was that retailers must respond to technology-savvy consumers by creating digitally rich, easy-to-use, technology-based experiences in the store to expand basket size and increase margins. These experiences "mash up" physical retailing with the best of rich online content.

The study revealed three specific shopping behaviors: (1) the influence that digital content has on consumer buying decisions, (2) how consumers engage in cross-channel shopping behavior, and (3) how consumers use technology while shopping. In addition, the survey polled shoppers about what kinds of technology-based experience prototypes they would like to use in stores. These cross-technology experiences, also known as "mashops" get their name because they "mash up" the virtual and physical worlds to create a new way to shop.

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