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How Digital Changing Retail

Credit from Nielsen Visual IQ

Shoppers around the world no longer simply go to the nearest store; they grab the nearest digital device.

According to Nielsen research, among global respondents:

74% say they appreciate the freedom of being connected anywhere, anytime 70% agree that their mobile device has made their life better 66% think electronic interactions are replacing face-to-face ones 47% say they’d rather text than talk

Mobile is Transforming Commerce

While m-commerce (retail sales conducted via a mobile device) is still a very small portion of total retail sales in many markets, including the U.S. (2.4%), m-commerce will grow significantly in the next few years -- 28% or more in India and 30% or more in China.

Worldwide, 38% of respondents said they purchased a product or service on their mobile device in the past six months. 34% say they’ve used a mobile app to make a purchase in the same period.

Asia-Pacific leads the way when it comes to mobile shopping, with use above the global average for every activity; respondents in China (50%), India (49%), South Korea (47%) and Vietnam (46%) say they’ve purchased a product or service using their mobile device in the past six months. Mobile payments are highest in India (46%) and China (45%), where respondents are very likely to use them in bars, restaurants or retail stores.

Consumers Travel From Online to Offline and Back Again

When it comes to the online-offline gap, marketers are navigating an increasingly complex world. Major shifts in the EMEA landscape are compelling retailers to transform their businesses, as they face a decline in oil prices and geopolitical instability as well as the rapid evolution of digital technology.

Retailers are responding to consumer preference as well, using Augmented Reality and other technologies to enhance in-store experiences with customized guided store tours, alerting shoppers to deal and information based on past purchases, and cashless payment upon exit. Time-conscious consumers have shown their willingness to embrace technology to enhance their in-store experience.

How You Can Bridge the O2O Attribution Gap

Advertisers will spend over $270 billion on digital media worldwide this year. Understanding the impact and return of these investments is critical. Many marketers are turning to multi-touch attribution solutions to help them understand what consumers do in the physical world after seeing an online ad.

Multi-touch attribution helps marketers understand the impact that each online marketing channel (social, display, paid search, video) has on online AND offline sales. It also reveals how effective each campaign is, down to the dimension level (publisher, creative, offer, etc), and how channels interact with each other.

This allows marketers to optimize advertising in flight. It also allows them to attribute revenue to each channel and calculate return on investment (ROI) so that they can allocate future budgets properly.

While many marketers rely on a last-touch approach for attribution, only a holistic view of customer activity across online and offline channels lets you see what’s really happening as a result of your marketing activities.

Measuring Multi-Channel Marketing Impact

Technology has created a huge opportunity for EMEA retailers to leverage data to make smarter decisions. Advanced attribution solutions can now integrate offline marketing touchpoints and conversion events at the user-level.

Not only does this integration provide a more complete view of the consumer journey, but it also provides insights into which combination of marketing channels and tactics drive different digital and offline success criteria so you can better optimize the omni-channel consumer experience.

By syncing customer IDs with offline conversion data, marketers can see a holistic view of the consumer journey that bridges digital and physical experiences. For the first time, you can see not only which online ads drive offline sales, but also learn much more about your customers’ path to purchase.

If you are planning to apply and lead the trend, we can help, call us now for more consulting.

Hotline: 0968 68 3191

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