40 percent of purchases made in brick and mortar stores are prepared for online

 

 


"Cross-channel is the reality when shopping today. Nearly half of all customers start off online and make the actual purchase in a brick and mortar store. Retailers must take this into account by providing an online shop, and manufacturers must create the right conditions by offering fair prices."

Stefan Vitzithum, COO

 

More and more purchases in brick and mortar stores are being prepared for online. According to a study conducted by the ECC Cologne, almost 40 percent of purchases made across all product categories in brick and mortar stores are made after customers have browsed for information in online shops. This figure rises to over a half for the young target group of 20 - 25 year olds. Good news for specialist retailers: only ten percent go the other way, gathering information in a brick and mortar store before finally making a purchase online.
 
What does this mean for brick and mortar retailers?
 

1. The price must be right

Many customers come into the store with a fixed idea of the price, after having carried out research online. If retailers offer unrealistic retail prices recommended by manufacturers which are much higher than prices currently on offer in online portals, customers will simply turn heel and go straight back out of the shop. This is where our StoreShip price recommendation helps, making it possible for fair end customer prices to be offered at all times whilst still guaranteeing retailers a margin. For our StoreShip price we look into the offers available on the major internet shopping platforms, price search engines and from online retailers. We rate these according to their relevance to determine a fair internet price. We then compare this with the prices from our suppliers, in order to display the best possible offer.  I expect manufacturers to take action, and a lot of them already are. At the end of the day, it is in their own interests.

 

2. They need an online shop

Nowadays it is crucial to have an online presence as well as a local store. Showing the product range on the internet in an online shop and making it easy to find the store on Google is the right step on the way to becoming a cross-channel retailer. At the same time, it means that a brick and mortar store can remain open around the clock as well. This is exactly what we have put into practice in the connected store thanks to the Online Kiosk, which even includes an integrated click & collect ordering function for collecting products ordered online in store.

 
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