TRENDS IN RETAILTHE OMNICHANNEL FUTURETRENDS IN RETAILTHE OMNICHANNEL FUTURE
TODAY, IN ECOMMERCE, "E" = EVERYWHERE.
TODAY, IN ECOMMERCE, "E" = EVERYWHERE.
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Researching a product can happen in-store, online or over a cuppa with friends. Buying a product can happen in-store, online
or over that same cuppa. And rating that product? Ditto.
Within this omnichannel world, the online channel is growing. Online spending in Australia increased at a compound annual
rate of 18.2% over the five years through 2014-15.*
2013 20182017201620152014
*Source: IBISWorld Industry Report I5102, 'Courier Pick-up and Delivery Services in Australia', October 2014.
To keep up with this trend – and capitalise on it – retailers need to know what an omnichannel shopper looks like,
and how to keep them happy.
THE RISE AND RISE OF THE OMNICHANNEL SHOPPER
THE RISE AND RISE OF THE OMNICHANNEL SHOPPER
$$
The consumer went to market and bartered their
eggs for wool.
The consumer went shopping with a full purse. They came home with an empty purse
and a full bag.
THE CONSUMERTHE CONSUMER
1800S1800S 1900S1900S
$$$$ $$
The 2000s consumer goes nowhere and everywhere.
But boy, do they shop.
In the 12 months to January 2015, online retail sales in Australia grew 9% to reach
$16.6 billion*.
*Source: http://business.nab.com.au/online-retail-sales-index-in-depth-report-january-2015-9980/, accessed May 2015.
THE CONSUMERTHE CONSUMER
2000S2000S TODAYTODAY
$16.6BILLION
BUY NOW
*Source: IBISWorld Industry Report I5102, 'Courier Pick-up and Delivery Services in Australia', October 2014.
The world is their marketplace, with overseas e-tailers also catching consumers' eyes ... and their credit cards.
*Source: Source: http://business.nab.com.au/online-retail-sales-index-in-depth-report-april-2015-11332/, accessed June 2015.
CONSUMERS TODAY HAVE MORE CHOICE THAN EVER.
CONSUMERS TODAY HAVE MORE CHOICE THAN EVER.
AUSTRALIAN WEBSITES
75.5%
OVERSEAS WEBSITES
24.5%
Consumers research purchasing decisions in-store, on the web, on their phones, via social media,
through advertising, and more.
CONSUMERS LIKE TO SHOUT ABOUT THEIR SHOPPING
EXPERIENCES, GOOD OR BAD.
CONSUMERS LIKE TO SHOUT ABOUT THEIR SHOPPING
EXPERIENCES, GOOD OR BAD.
The consumer review is about much more than just the product. They'll rate the entire experience – including
ordering, pick-up or delivery, returns and more.
The consumer went to market and bartered their
eggs for wool.
The consumer went shopping with a full purse. They came home with an empty purse
and a full bag.
Click & collectSame day deliveryFree or flat rate returnsClear policies on shipping & returns24/7 customer service
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1.2.3.4.
5.4. 5.
2. 3.
Remember, changing habits create new expectations. Consumers today expect big things from online stores.
The 2000s consumer goes nowhere and everywhere.
But boy, do they shop.
In the 12 months to January 2015, online retail sales in Australia grew 9% to reach
$16.6 billion*.
*Source: http://business.nab.com.au/online-retail-sales-index-in-depth-report-january-2015-9980/, accessed May 2015.
IT’S NO LONGER IT’S NO LONGER
TO THE MARKETTO THE MARKETAS SIMPLE AS A TRIPAS SIMPLE AS A TRIP
AS THE SHOPPER EVOLVES,SO TOO MUST THE RETAILER.AS THE SHOPPER EVOLVES,
SO TOO MUST THE RETAILER.
OPEN
MALL
MARKET STALL RETAIL MALL ONLINE STORE
ORDER
IN-STORE, TECHNOLOGY IS INVADING EVERY ASPECT OF THE
SHOPPING EXPERIENCE.
IN-STORE, TECHNOLOGY IS INVADING EVERY ASPECT OF THE
SHOPPING EXPERIENCE.
RFID tags on clothes
Kiosks foronline ordering
Life sized touchscreens
In this omnichannel retail environment, retailers need to rethink fulfilment strategies. How do you meet consumer needs without
blowing budgets on warehousing, distribution and freight?
*Source: 2015 Third Party Logistics Study: The State of Logistics Outsourcing, John Langley Jr and Capgemini, 2015.
In a recent study, nearly one third of retailers are not ready to handle omnichannel retailing.*
ONE THIRD AREUNPREPARED
Reduced shipping costs
Improved order fill rates
Improved accuracy
Often, third party logistics steps in to save the day for smaller retailers.
*Source: 2015 Third Party Logistics Study: The State of Logistics Outsourcing, John Langley Jr and Capgemini, 2015.
TO SUM UP...TO SUM UP...
Other times, it's savvy strategies around returns and exchanges, like BirdsNest's 365-day returns policy.
Customer service plays a critical role across channels, too. It's all about maintaining the same level of trust, regardless
of the channel used to research or buy a product.
An omnichannel retailer must take all of these things into account, and keep abreast of evolving trends. Get it right, and you'll enjoy
loyal, long-term relationships that boost the bottom line.
OPEN
$ $
Learn about how StarTrack can assist with fulfilment of your orders. To find out more, send us an
enquiry or call 13 23 45
READY TO GROW READY TO GROW YOUR BUSINESS?YOUR BUSINESS?