Most companies wonder how the purchase funnel looks like when consumers evaluate products they think about buying. A recent study from ATG helps: 30% of consumers reach out to more than three commerce channels to research a product and make a purchase. This shows that retailers and merchants need a broader cross-channel approach to boost sales and enhance customer purchase decisions.
The consumer study found that more than three-quarters of consumers use two or more channels and nearly one-third work with even three or more channels to research and purchase products. While we have all expect that mobile use and social media find their way into consumers’ online commerce activities, it is surprising that traditional catalog channels are still popular.
“Merchants have heard the call for a stronger cross-channel strategy for many years, but what has been lacking is a deeper explanation about why this is so important. We are seeing a multi-channel revolution now, with a vast majority of consumers using multiple channels and now almost one-third actually relying on three or more channels to complete transactions. Retailers must direct their energy toward fulfilling the unique role and sales potential of each channel. This research illuminates the expectations consumers have for the Web, call centers, the store, catalogs, and email.”
Nina McIntyre, Senior Vice President Marketing and CMO, ATG
The key findings of consumers’ cross channel experiences…
– 78% use two or more channels to browse, research and make purchases; 30% said they use three channels or more
– 78% of all consumers say they use catalogs to browse and research products or services at least four times a year BUT 40% of those consumers never purchase products or services through catalogs.
– 43% start their research online or with mobile devices. BUT They need to call customer service or call center representative to complete the transaction because the product or service information cannot be found online!
– 39% browse via the online or mobile channel and then make purchases in the store because they prefer to touch and feel the product – reason for 36% is product and brand comparison
Interesting findings on mobile commerce (emphasis on the 18-34 age)…
– 27% of all consumers 18 and older use their mobile devices to browse or research products and services at least four times a year, and that number jumps to 41% for the 18-34 year-old age group
– 13% of all consumers 18 and older and 23% of the 18-34 age purchasing at least four times a year via their mobile devices; 8% of the later are doing it weekly
The study highlights how important it is to link online and offline sales communication and give the customers the same purchase service in multiple channels. It will always be difficult to understand where customers make their final purchase decision and where they finally buy though. This additional study by Google underlines the trend for an offline and online purchase decision mix. One things is for sure again: The need for more awareness around the incorporation of commerce activities in social networking sites like Facebook, MySpace, and Twitter is gaining momentum.