Price Waterhouse Coopers recently released a report of 11,000 shoppers globally.  One of the outcomes of this report was to shed some light on common myths about multichannel retailing.  The study generated some unique findings on the current status of multichannel retailing.

The study found that although social media is an important way to connect with customers, it is not going to be a key resource for customers in making a purchase.  Additionally, while showrooming is a big concern for retailers, physical stores are still very important to consumers and should continue to be the focus for large retailers.

The study also explores changes in the global customer.  Many retailers believe that global customers are becoming more similar.  However, this research indicates that customers still engage in a wide array of behaviors and should be catered to on a local level.  Furthermore, the study finds that China is not the end all be all for online sales.  China’s online model is unique to its culture and may not be replicated easily in other cultures with divergent tastes and shopping habits.  Finally, many believe that global online players have a competitive advantage.  However, domestic retailers may have better market knowledge of their local communities.

The survey also showed that online sales don’t always cannibalize sales from other channels.  Customers are going to shop with their favorite multichannel retailers.  And, when they do shop, price is not always the main driver.  Customers are valuing innovation and quality over price.

Finally, the study indicates that tablets are not likely to take over PC’s for shopping use as tablets are more often used at the end of the purchase journey.

Discussion Question:

What are some of the common myths that this survey debunked?

 

SOURCE:  Al McClain, Retail Wire, February 8, 2013