Secrets of the U.S. Phy-gital Shopper Can Unlock Next Wave of Growth: Study by Mindtree
Survey spotlights a new breed of shopper that expects it all-in-store and online
WARREN, New Jersey and BANGALORE, India, January 11, 2015 /PRNewswire/ --
A study released today by Mindtree provides critical insights into the evolution of the "phy-gital" shopper and the kinds of experiences and features that would encourage them to shop more. These phy-gital shoppers have a world of information at their fingertips and they're just as comfortable shopping online as they are in a retail store.
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The independent study, "Discover the Phy-gital Shopper: A Survey by Mindtree," found that these high-expectation shoppers combine online and in-store experiences in whatever way is most convenient for them. Their behavior has flipped the traditional supply and demand model. With today's connected shopper, demand now discovers supply. At the hint of a need, this new breed of shopper interacts with various media and devices to find what they want. The paradigm shift is fueled by new technologies such as cloud apps, machine intelligence and connected smart devices.
The study surveyed 2,400 customers across the U.S., asking them to rate different online and in-store features covering apparel, electronics, grocery, and home and garden segments. Although shopper preferences and desires differed by market segment, five broad themes emerged that retailers will find useful:
- U.S. shoppers expect a seamless experience across all channels - 60% say they combine online and in-store purchases
- Shoppers want to take advantage of in-store technology - 33% want to use technology for locating products and self-checkout at kiosks for a faster shopping experience
- Shoppers will share personal information, but not on social media - 90% are willing to share personal information for a better experience but only 4% want social networking with retailers
- Shoppers want more information, whether online or in-store - 20% of grocery shoppers want recipe recommendations and product suggestions
- Shoppers will spend more if they have a remarkable experience - 18% of apparel shoppers want to use technology to find out how crowded a store is
Doug Stephens, Retail and Consumer Futurist; Founder of Retail Prophet said, "Until recently we have tended to view the dynamic between the web and physical stores as binary, with one format winning out over the other. This clearly isn't true. We will see ecommerce become increasingly physical, tactile and immersive, and the in-store experience significantly more web like, connected and data-rich. In fact, technology is rapidly driving the evolution of both formats. In time, the lines between the two formats will become so blurred it will be difficult to know if the retail experience we've just had was digital or physical."
Radha R., Mindtree's Executive Vice President of Retail, CPG and Manufacturing said, "We knew phy-gital shoppers were changing the U.S. retail landscape. It has become crucial for retailers to meet these shoppers at the critical moments across all media, devices and channels - and to offer a remarkable experience that makes them stand out in a crowded marketplace. There is no one-size-fits-all approach, but retailers would be wise to do a comprehensive assessment of their omnichannel readiness to engage and win over these new shoppers."
For complete details of the U.S shopper survey:
Understand how the expectations of the new age shopper vary for other regions:
About Mindtree
Mindtree [NSE: MINDTREE] delivers technology services and accelerates growth for Global 1000 companies by solving complex business challenges with breakthrough technical innovations. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. We are among the fastest growing technology firms globally with more than 200 clients and offices in 14 countries.
Visit us at http://www.mindtree.com .
For more information, contact:
Priyanka Waghre
Mindtree
+91-98867-29295
[email protected]
Siddhartha Tanti
Genesis Burson-Marsteller
+91-99863-62435
[email protected]
Kiran Farooque
PPR Worldwide
+44(0)207-300-6181
[email protected]
Sarah Elder
Max Borges Agency
+1-415-548-6850
[email protected]
SOURCE Mindtree
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