SAP White Paper
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Showrooming Don't Minimize the Loss. Maximize the Engagement.
Showrooming refers to consumers visiting a brick and mortar retail store to research a product and then looking up its lowest price online, either right there in the store via their smartphone or back home at their computer. This frequently leads to lost sales for the retailer in those cases where they make the purchase elsewhere. Thusly, they turn the retail store into a showroom. 82% of shoppers in the US and UK have used their smartphone to compare prices in-store. It is an increasingly common phenomenon that now has a fancy name.
Consumers don’t “showroom.” They buy. How they buy is changing. The real conversation about show- rooming must focus on how retailers can participate in this change, starting with a strong look at the role of the store and how they can deliver a single retail experience across their channels at the point of purchase.
Give Shoppers the Experience They Want, When They Want It
To thrive, retailers need to understand their customers as individual consumers. They are applying analytics with real-time technologies to stay ahead of consumer demand, target customers more precisely and drive greater efficiencies throughout the enterprise.
The key is to move beyond making decisions that boost short-term sales and instead use technology to fortify the relationship with consumers. This approach creates a brand experience that can be as important, or more so, as the products being sold.
A Data Driven Approach to the Customer Experience
Today's consumer has more shopping options, and more channels of commerce and interaction, than ever before. As a result, the customer experience is changing to incorporate new channels and technologies, and retailers must change to keep pace. This whitepaper examines how customer intelligence tools can be used to personalize the customer experience and drive higher customer satisfaction and conversion rates.