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Showrooming: A multichannel opportunity

  • February 2014
  • -
  • MarketLine
  • -
  • 17 pages

Introduction

Showrooming has hit retailers hard in recent years. The emergence of smartphones means that many consumers are able to look at products in a bricks and mortar store and look around online to find a better price. Among other things, online retailers benefit from having fewer overheads than physical stores, which makes them very difficult to beat on price.

Features and benefits

* This case study looks at the emergence of showrooming, its effect on retailing and how retailers can take advantage of it.
* The case study also examines the strong growth of e-commerce, and particularly m-commerce, in recent years.
* The case study also looks at how retailers can provide a multichannel experience to consumers for example by using social media platforms.

Highlights

Worldwide e-commerce sales grew by 21.7% in 2012 and early estimates suggested it grew by 17.1% in 2013. M-commerce growth is outstripping e-commerce growth. According to a report by comScore, a digital business analytics company, third quarter 2013 m-commerce spending on smartphones and tablets grew at rate of 26%
New research from Google has found that eight out of 10 shoppers research products and prices on their phones in store, and some often prefer this to talking to a store employee. The survey found that one in three shoppers used their phone to find out information over asking an employee.
Retailers are increasingly using social media to strengthen their brand, connect with consumers, and secure sales. The value of pins on Pinterest is increasing:a study by TechCrunch found that a pin generates 78 cents in sales on average, up 25 cents from Q4 2012. Additionally, on average pins deliver two site visits, six page views, and 10 re-pins

Your key questions answered

* What is showrooming? Why do people showroom? How have companies been affected?
* How fast are the e-commerce and m-commerce markets growing?
* How can retailers provide a multichannel experience?
* What advantages do retailers gain by engaging with consumers on social media platforms?

Table Of Contents

Showrooming: A multichannel opportunity
OVERVIEW
Catalyst
Summary
THE RISE OF E-COMMERCE, THE DECLINE OF STORES
The rise of e-commerce
Consumers are increasingly skipping shopping in physical stores on Black Friday
Boxing Day 2013 was the biggest shopping day ever for online retailers in the UK
Mobile commerce has grown at a strong rate
Most shoppers research products on their phones in store
SOME STORES HAVE GONE ON THE OFFENSIVE AGAINST SHOWROOMING
Some stores have tried to stop showrooming or have tried to compete on price
Retailers are trying to get customers into their bricks and mortar stores
SOME RETAILERS HAVE USED SHOWROOMING TO THEIR ADVANTAGE
Showrooming enables companies to provide a more personalized approach to their customer
ForeSee recommends focusing on providing a strong, multichannel experience for consumers
Many retailers are utilizing popular social media platforms to improve consumers' multichannel experiences
UK multichannel retailers are using four key social media platforms
CONCLUSIONS
Retailers would be advised to take advantage of showrooming
APPENDIX
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