The Database: What Omnichannel Really Means in Today's Retail Environment
In today’s digital age, physical shopping lists and straightforward point A to point B shopping trips are far from being the norm anymore. Devices and technology have introduced a wealth of convenience and choice, which make everyday life much more manageable for consumers. As a result, yesterday’s traditional, clear-cut path-to-purchase now belongs in a history museum.
But while connectivity and devices play a notable role in how the path to purchase is evolving, digital isn’t the only game in town. In fact, savvy retailers that view the retail landscape through an omnichannel lens are succeeding where others aren’t. For example, key retail players like Walmart, Kroger and Target have grown their online customer bases—all by at least 90% more than Amazon—over the past two years.
How? By leveraging technology to help consumers do more with less time. Many have embraced click-and-carry, a strategy that leverages brick-and-mortar and digital technology. And we estimate that click-and-carry sales have grown from 4% of online consumer packaged goods (CPG) sales to 11% in just two years.
This episode focuses on the path to purchase across today’s retail landscape, with a focus on omnichannel strategies and e-commerce. This episode’s guests are Lauren Fernandes, manager of strategy and analytics at Nielsen, and Ken Cassar, VP Strategy and Insights at Rakuten.