SAP Survey: Retailers Struggling To Keep Up With Omni-Shopper Expectations
Customers demand a more consistent experience across online, in store and mobile
London, UK - New consumer research, released today, found that in five years time almost half of all purchases (44%) are expected to involve more than one channel. Despite which only 15% of consumers surveyed currently feel extremely satisfied that retailers provide a consistent experience across different channels.
In an independent survey commissioned by SAP (UK) Ltd, of 2,000 online shoppers, it was found that 70% of consumers surveyed admit to having a better customer experience when they can choose how they purchase. Whilst three quarters of those surveyed (75%) believe being able to use different channels cohesively (in store, online, mobile) is important.
Chris Osborne, Industry Principle for Retail, SAP UK and Ireland, said; "The role that physical bricks and mortar stores play is changing. ‘Showrooming’ is a popular way for shoppers to research products in store before buying them online, often for a better deal. What must be a top consideration for retailers today is to ensure that customers can shop across multiple channels and still enjoy a consistent and cohesive experience; ensuring the option to purchase through their preferred route is simple and cost-effective. Understanding this trend will help retailers to retain custom even if purchases are not necessarily made in store."
The power of personalisation
There are varying degrees to which customers wish to engage across multiple channels. It is important that retailers take into consideration the preferences of all types of customer; from ‘omni-enthusiasts’ (13%) which cite the use of different channels through which to purchase as crucial, to ‘omni-hesitants’ (22%) which do not regard the use of multiple channels to be of significant importance. Nevertheless, 72% of respondents expect to be able to research, shop, receive goods and receive customer services in whatever way they choose – rising to 83% amongst omni-enthusiasts.
"The only way to understand these differences is to analyse the mounds of customer data each channel gathers during every purchase. The challenge is how you can then join the data up to achieve a holistic view of the customer. As the Christmas shopping period approaches it’s important for retailers to start thinking about how best to engage with customers through their preferred channel in order to ensure a consistent and positive customer experience," continued Osborne.
Consumers recognise that the provision of personal data enables retailers to provide a more personal customer experience; 96% of shoppers expect information to be collected about them. However the way in which retailers use customer information needs to become more transparent, according to almost eight out of ten (79%) of consumers surveyed.
The top three pieces of personal information the surveyed consumers expect to be collected of them include online purchase history (65%), payment details (60%), and in store purchase history (43%). However nearly two third of respondents (62%) of shoppers believe their personal data is being invaded either often or sometimes by retailers, suggesting the full benefits of sharing this information are not being recognised.
Osborne said; "Consumers have grown impatient with providing information only to be bombarded by marketing messages on a daily basis. In order to improve the customer experience, and ultimately sell more, retailers need to provide greater transparency around the use of personal information. Until the shopping experience is consistently positive, the benefits over providing personal information are likely to be lost."
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 232,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
2013 SAP AG. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.
Follow SAP on Twitter at @sapnews.
For customers interested in learning more about SAP products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)
For more information, press only:
Kate Falcone, SAP UKI, +44 (0)7966 975966, email@example.com, GMT
Katie Potts, Octopus Communications, +44 (0) 7710 977249, Katie@octopuscomms.net, GMT