the somolo imperative:social, mobile, local shopping reaches the tipping point
DESCRIPTION
Social, Mobile, and Local shopping behaviors have become a permanent fixture in the lives of many consumers, and to date there has been little research available to truly define the impact of SoMoLo shopping on today's retail operations. This presentation summarizes the results of a new benchmark study from CommerceinMotion.com that was designed to shed new light on the ever-increasing number -- and expectations -- of SoMoLo shoppers, and reveal how businesses around the globe are adapting their strategies, marketing, supply chains, and sales operations to capture these lucrative and demanding customers.To download a full copy of the report, visit http://www.commerceinmotion.com/feature/somolo-imperative.TRANSCRIPT
The SoMoLo ImperativeSocial, Mobile, Local Shopping Reaches the Tipping Point
#CommerceInMotion
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#CommerceInMotion
Join the Conversation!
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SOMOLO
What is a
Shopper?#CommerceInMotion
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SOCIALMOBILELOCAL
#CommerceInMotion
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Why Did We Study These “SoMoLo” Shoppers?
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Because They’reEverywhere…
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Research Approach
Specialty Electronics Grocery Big Box CPG Other
Study ConductedDecember 1 - 18, 2011282 Respondents
To pinpoint the expectations of today’s SoMoLo shopper, and how B2C and B2B businesses are responding and adapting to these wants and needs
Objective
Revenue Breakdown$100M - $500M: 59% Greater than $500M: 41%
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We WantSocialIntegration!I Yshopping
on my iPad!
GotLocal???
Shopper Demands Keep Escalating…
ScanThis!!
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57%expect discounts sent to their phone
46%expect to place orders via their phone
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Mobility Matters
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40% expect to use QR codes to access content on their phone
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50%expect to shop via tablet
Tablets AreTriumphant
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38%expect to use social
sites to browse, shop, and buy
(Only)
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Social: Sizzling, Or Fizzling?
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28%expect department-specific messages and offers to be sent to their phones when
they are inside a store
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Locking In on (Micro) Local
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RETAILERS
SHOPPERS
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Retail Has a Long Way to Go to Meet SoMoLo Demands
Place Orders via Smartphone46% 38%
CustomersExpecting
RetailersDelivering
Availability and Pricing on Phone42% 30%
Order Status Updates on Phone44% 30%QR Code Access
to Product Content40% 33%Browse/Shop/Buy
via Social Sites38% 22%Location-SpecificOffers via Phone26% 20%
Dept-SpecificOffers via Phone28% 12%
#CommerceInMotion
A Long Road…
13%average
gap
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33%
36%
Lack of Corporate Commitment
Inability to Integrate New Channels
Limited Inventory Visibility Across Channels
Stores Unable to Support New Challenges25%
36%
SoMoLo Roadblocks#CommerceInMotion
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Good Intentions…
Order on Phone----------------------------------------------Product Availability/Pricing on Phone---------------Order Status and Updates on Phone-----------------QR Code Access to Content on Phone--------------Push Local Offers to Phone When Near Store----Department-Specific Offers Inside a Store---------Browse/Shop/Buy App via Social Network---------
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38%30%30%33%20%12%22%
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Strategic Shortcomings?
Currently have no specific mobile commerce strategy and/or are just experimenting50%
30%64%
Currently have no specific social commerce strategy and/or are just experimenting
Currently have no specific local commerce strategy and/or are just experimenting
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Conclusions & Takeaways
1. Retailers must adapt to meet the escalating demands of the increasingly social, mobile, local shopper
2. As a whole, it appears that the industry feels the pressure to react
3. Executive commitment, clearly defined strategies, and technology plans need to evolve quickly to close the gap
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Full Study Available Online
#CommerceInMotion
www.CommerceInMotion.com/feature/SoMoLo-Imperative
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Coming Soon: B2B Study Results
50%of B2B executives indicate that buyer purchasing behaviors closely mirror those of consumers
#CommerceInMotion
What Does this Mean to their Selling Strategies?
