Consumer Expectations Surpass Retailer Realities, According to New Cross-Channel Commerce Report from Oracle
Study Shows Consumers Value a Consistent Experience Across Channels
Redwood Shores, Calif. – Dec. 13, 2011
Oracle today released its “Cross-Channel Commerce: The Consumer View” report, which details the results of a survey of more than 2,000 consumers in the United States and Canada regarding their habits and expectations as they shop online, in stores and via mobile phones and tablets.
Cross-channel shopping is the new norm: Fifty-four percent of consumers regularly employ two or more channels before they make a purchase. They expect a consistent experience across all channels. Nearly 20 percent expect to redeem the same coupons and promotions in stores and online.
Consumers expect instant gratification in stores: The stakes are high for retailers to have the right product when customers walk in the door, with pricing and promotions that are the same or better than what shoppers found online. Seventy-five percent said that they go to the store to see the product before they buy it, and 44 percent go when they need the product right away. If items are not in, 51 percent said they expect a store associate to find an out-of-stock item online and have it shipped.
Consumers use mobile as the all-in-one tool, especially younger consumers: Though 25 percent of consumers say they fear security breaches on their mobile device, 44 percent of consumers age 25 - 34 and 30 percent of consumers age 18 – 24 say they are or soon will use their mobile phone as a payment device in stores. When it comes to making purchases online, 45 percent of consumers age 18 – 34 who own a smartphone will use it to purchase products online as often as a few times each week.
Information is power: Consumers want improvements online, including more detailed product information, better search and easier access to customer service representatives via live help options such as click-to-call or live chat.
Shoppers are getting social: For marketers, Facebook is a green field for launching promotions with new and returning customers, many of whom say they use Facebook to look for coupons, promotions and special offers from retailers. Twenty-three percent of consumers have clicked “like” for merchants on Facebook, and 20 percent of those that are Facebook members have made a purchase there.
“Consumers expect a single, personalized experience with consistent pricing, promotions, inventory and service. They see one retailer, not multiple channels,” said Mike Webster, senior vice president and general manager, Oracle Retail. “As a whole, retailers are challenged to move across channels as easily as the consumer and deliver the same consistent, high quality experience no matter the format.”
Oracle provides retailers with a complete, open and integrated suite of business applications, server and storage solutions that are engineered to work together to optimize every aspect of their business. 20 of the top 20 retailers worldwide - including fashion, hardlines, grocery and specialty retailers - use Oracle solutions to drive performance, deliver critical insights and fuel growth across traditional, mobile and commerce channels. For more information, visit our Web site at http://www.oracle.com/goto/retail
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