The New Retail Purchasing Pathway

Raconteur - Future of Retail
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The Sunday Times published a great article about the need for Retailers to provide a seamless shopping experience – whether In Store or On-line.  The 5 Purchasing Pathway steps are :

1) Discovery – getting inspiration and ideas for a purchase.  Consumers may assemble a set of brands and retailers to consider, using on-line channels and in-store browsing.
The average UK consumer spends 225 minutes a week browsing retail items online, 42.6 minutes browsing in-store just for fun and 74% of on-line shoppers find new products through reviews and recommendations on websites and social media! (a)

2) Evaluation – consideration evolves and shopper gathers information from a variety of on-line and offline sources. This is often a more technical process and involves looking at details such as specifications, size and availability. Also involves research and comparison of prices including delivery costs.
18% of consumers leave a store after consulting their mobile and finding a product cheaper elsewhere. Consumers spend an average of 97 minutes considering a high order process in 2015 compared with 38 minutes in 2000 (b)

3) Purchase – shopper selects what to buy, where to buy it and how to take delivery. Although eCommerce is growing year-on-year in-store purchase remains the most common form of retail shopping.
28% of all eCommerce orders were by mobile phone or tablet in May 2015 compared with 20% in 2014. Customers are 1.6 times more likely to purchase after watching a retail video (c)

4) Experience – product owners react to the purchase and interact with your products and brand.  They write reviews on-line or comment on satisfaction/dissatisfaction via social media, making them heavy influencers of other consumers in the Discovery and Evaluation process.
31% of consumers regularly leave reviews or give feedback. 56.7% are positive and 33% negative. 31% of on-line shoppers post recommendations and reviews to friends and social-network connections about what they bought (d)

5) Loyalty – after owning the product consumers decide whether or not to select the same product or brand again.  Research shows that customer service and experience is the next brand differential and by 2020 will take over price and product.
56% of consumers say if a retailer gave them a good personalised experience they would make an effort to shop with them more often. 75% of consumers are more likely to recommend a brand because it provides simpler experiences and communications (e)

Credit : Sunday Times – Raconteur – Future of Retail – 21st June 2015
Sources : a) Webloyalty/Conlumino, b) Connected Commerce, DigitasLBi, c) Invodo 2015, d) Webloyalty/Conlumino 2015, e) Siegel+Gale