eBiz Global Group

Tech Tolerance

eBiz Global Group — Wed, 31 May 2023 22:31:21 +0000

During the peak traffic days of Holiday season, many retailer websites experienced outages, due to higher than expected increase in site traffic which resulted in a range of technical issues including slow websites, server overloads and even site crashes. While these incidents create an undesired customer experience, it drove shoppers to other alternate options resulting in millions of dollars in lost sales for these websites in addition to thousands of non-returning customers.

Shoppers will abandon websites or mobile apps if they glitch, crash or load slowly.

Given the recent increase in the news around cyber hacking events, security and privacy of shopper data is also an area of major concern for shoppers as well as retailers. In 2017, we expect retailers to make significant investments in infrastructure to provide shoppers a safe, trusted and enduring environment that is capable of handling the increasing demands of the shifts in the retail landscape.

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The Millennial Factor

eBiz Global Group — Wed, 31 May 2023 22:30:14 +0000

Millennials (ages 19-34 years) are playing a defining role in shaping the future of retail. There are over 80 million millennials in the United States. Although they are tech savvy and digitally connected, majority of them shop at brick-and-mortar stores. Millennials are truly “integrated” shoppers using both in-store vehicles as well as digital interactions in their purchase journey. They expect a seamless experience between online and in-store activities. At the same time, they expect convenience, value and speed in each transaction. They also enjoy loyalty programs that create such relationships. Millennials respond best to brands and retailers who offer personalized, unique and experiential interactions that are customized for each shopper. In essence, they prefer a one-on-one relationship instead of just a sales transaction. Retailers have an opportunity to build these interactions via their own branded apps and websites.

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Member Loyalty Programs

eBiz Global Group — Wed, 31 May 2023 22:29:06 +0000

Deal-seeking shoppers like to enroll in retailer loyalty programs. In addition to price incentives, shoppers expect these programs to be more personalized, holistic and integrated with other key activities. Although most membership programs charge an upfront annual fee, these services create added costs for retailers. Membership programs offer an opportunity for members to shop regularly at the same retailer – a long-term relationship that could benefit both the shopper as well as the retailer. In the hopes of building such loyalty, several retailers (online as well as brick-and-mortar retailers) have placed a priority on their membership programs.

One way to create loyalty is to build ongoing relationships in addition to just transactions.

The key to building a successful membership program will lie in the ability of retailers to build relationships and experiences with their members so as to add value instead of just driving transactions.

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Brand Reputation

eBiz Global Group — Wed, 31 May 2023 22:27:20 +0000

For many shoppers, holidays are about creating memorable experiences. Their search for trusted and popular brands increases during the holiday shopping period. In recent years, brands have increased their investments in E-Commerce to generate awareness as well as gain online share of the fragmented landscape. Shoppers have an endless online aisle available to them with unlimited brands and products. Therefore, it is critical for brands to stand out in this crowded and competitive marketplace. However, the key question is whether or not shoppers have a preference for specific brands online or are they open to other brands that may offer similar attributes or are rated higher.

Shoppers perceive the value of brands based on their own experiences as well as of others.

Building brands is no longer just a marketing activity. It is a two way relationship between the product or service and the end consumer… in a transparent digital world. This allows an open engagement between the shopper and the brand that includes ratings, reviews, sharing, blogging, liking, tweeting and more. The critical point for organizations is to build a brand that has a clear purpose, unique differentiation and sustainable value proposition for its consumers. This is most important for brands that are undergoing digital and e-commerce transformation.

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Mobile is Shopper’s New BFF

eBiz Global Group — Wed, 31 May 2023 22:23:03 +0000

Mobile commerce is growing at an accelerated rate of almost three times faster than all of e-commerce. In just last two years, e-commerce sales driven from smartphones have more than doubled. Sales via desktops and tablets have been declining.

Shoppers are embracing mobile as their preferred device for shopping while switching from desktop and tablets.

Why? Shoppers are using mobile devices for a variety reasons to help aid their shopping. They are researching, price comparing, couponing, showrooming, webrooming, searching for a store, reading reviews, using retail apps and even purchasing products. Smartphones are becoming a trusted advisor and helping influence shoppers in their purchase decisions. Free in-store WiFi makes it easier for retailers to offer shoppers messages, coupons and promotions. It also makes it convenient for shoppers to use their phone to research items, read reviews and compare prices while they are still in the store. This helps them decide whether they want to purchase the item in that specific store, or at another retailer or from a digital channel. Retailers should develop a comprehensive mobile strategy to assist shoppers with their mobile quests and create a mobile experience that is personalized, integrated and available 24/7.

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The Tradigital Effect

eBiz Global Group — Wed, 31 May 2023 22:20:02 +0000

Shoppers are switching between multiple traditional and digital channels at various touch-points of their shopping journey.

Shoppers are using more digital vehicles at the expense of traditional ones… at an accelerated rate. To align with this, organizations and brands across industries are shifting an increasing amount of their marketing budget into digital channels. However, this shift in investments should be based on strategies that can – (i) integrate activities between traditional brick-and- mortar stores and their digital extensions (ii) elevate engagement with shoppers, and (iii) optimize the marketing mix, budgets and ROI. Regardless of how shoppers interact with retailer’s traditional or digital touchpoints, they should have an integrated, consistent and seamless experience.

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Free & Frequent Shipping

eBiz Global Group — Wed, 31 May 2023 22:03:37 +0000

When it comes to differences between online and in-store shopping, there is nothing that sets the two channels apart other than “Shipping”. For retailers, it is the added cost of fulfillment. For shoppers, in addition to the cost, it is the lack of instant gratification and having to wait for their purchase to be delivered.

More shoppers are using Free Shipping as an incentive to shop more frequently.

Retailers should consider innovative ways to offer Free Shipping as a value to shoppers. For example, in addition to offering Free Shipping with a minimum order threshold, consider ways to combine it with order bundles.

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When Deals Galore, Shoppers Buy More

eBiz Global Group — Wed, 31 May 2023 22:00:06 +0000

Events like Black Friday and Cyber Monday are important to shoppers because they expect to find the best deals on these days. They buy gifts for family and friends… and then some for themselves. Does this mean retailers should offer more discounts at the expense of losing margin? Not really.

Retailers should view the value each shopper brings over the entire season and beyond.

This is a more strategic and long-term approach compared to a very short-term transactional sales activity that involves loss leaders and margin makers.

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Stretching the Season

eBiz Global Group — Wed, 31 May 2023 21:57:19 +0000

Shoppers are starting their holiday shopping activities earlier and even extending it beyond the season. As a result of this shift in shopper behavior, retailers have started offering their early bird specials, doorbusters, promotions and deals across a broader time-period. “Black November” is now stretching one-day events like Black Friday and Cyber Monday by running pre-and-post variations of these ads for days and weeks.

Shoppers can now find the best deals anytime before, during and after the season.

Retailers should plan their marketing, merchandising, pricing, promotions and inventory for this time-shifting of their shopper’s purchase journey.

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The Connected Shopper

eBiz Global Group — Wed, 31 May 2023 21:53:03 +0000

Shoppers are now comfortable with shopping… not just on the Internet but on mobile devices too. Not only are they at ease, they are in control of their shopping experience. Shoppers are super-connected with every aspect of the shopping experience including access to any data from any device. They are now able to shop on their own terms.

Shoppers can shop anything, anytime, anywhere and from anyone.

Retailers should create opportunities for shoppers to shop at their convenience, using their preferred interactions, at the time and place (channel) they want to shop.

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