The Compete Online Retail 2011 Q1 Review
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The online retail channel continues to increase in complexity – social media, online-to-offline, online taxation – it can be difficult to stay in touch with the latest trends. Don’t you wish there was a way to gauge retailer performance online with a few key metrics? Wouldn’t it be great if there was some data to help decide dhow successful headline-making announcements in retail have been? Want to know how Facebook functions as a marketing tool for online retailers? Check out the slides from our inaugural Quarterly Retail Update based on our Shopper Intelligence Survey!
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The Compete Online Retail 2011 Q1 Review
- 1. Retail Spring Update May 2011
- 2. Today’s presenters Damian Roskill, Managing Director, Marketing at Compete Jason Caine, Director, Retail practice at Compete
- 3. Webinar logistics Today’s webinar will be recorded. You will be emailed a link. Please enter your questions in the Questions box. We will answer as many as possible at the end. If you have technical difficulties, try loggingback in or use a different browser The Twitter hashtag for today’s webinar is #competeretail
- 5. Passionate about understanding consumers to inspire great marketing
- 6. Largest integrated online consumer behavior and survey panel in industry.
- 7. Expertise in the automotive, consumer goods, financial services, media, mobile, online, retail, telecom and travel markets.
- 9. Shopper quality and brand consideration
- 13. Customer satisfaction and loyalty
- 15. Today’s agenda We will highlight some of the key trends in Retail using Compete’s panel of 2M consumers and our Online Shopper Intelligence quarterly survey. Ship to Store Facebook Effect on Retail Online Sales Tax Impact
- 16. Retailers have made some decisions that could signal next evolution in online retail business model. LL Bean announces free shipping on all orders…is this the beginning of the end of shipping charges? Walmart begins home-delivery pilot in San Jose market…will home grocery delivery finally go mainstream? Best Buy is latest retailer to announce plans to reduce its store square footage…could a day come when a retailer moves its business entirely online?
- 17. The Numbers
- 18. Retail segments that offer essential household items and “one-stop” shopping experienced the largest traffic increases. Total Online Visits – by Retailer Segment (in millions) Largest YOY Declines Largest YOY growth
- 19. Office supply and department store retailers both experienced healthy YOY gains in conversion rates. Online Conversion Rates – by Retailer Segment Largest YOY Growth Largest YOY Declines
- 20. Consumer intent to purchase online appears strong during the next 6 months. What categories do you intend to buy online in next 6 months? (n = 3269) Source: Compete Online Shopper Intelligence – Q1 2011 Survey
- 22. Trends indicate home improvement retailers primed for success during their peak spring and summer seasons
- 23. Increased focus on monitoring and stealing market share from competitors
- 25. One of the ways traditional retailers are trying to differentiate themselves is by offering to ship to store. What is Ship to Store? Retailer delivers order or pulls from shelf Consumer picks up order at store 2 Consumer places order on Retailer site 3 1 Select Retailers That Offer
- 26. Ship to store has become an increasingly popular shipping option for shoppers in the last year. % of visits that ship-to-store is selected during checkout
- 27. Consumers choose ship to store because it is cheaper than paying shipping costs. Why do you choose the ‘in store pick up’ or ‘ship to store’ option? (n=1611) Source: Compete Online Shopper Intelligence – Q1 2011 Survey
- 28. The main reason consumers do not select ship to store is due to the inconvenience of picking up the order. Why don’t you choose the ‘in store pick up’ or ‘ship to store’ option? (n=1357) Source: Compete Online Shopper Intelligence – Q1 2011 Survey
- 30. Will be counteracted by online retailers who offer free shipping and eliminate inconvenience of visiting store
- 31. “Buy online, pick up in store” marketing likely to become more focused on instant pickup of in-store products
- 32. What about applying this concept to grocery?
- 33. Consumer orders non-perishables online
- 36. Facebooks fans voted on charity to donate money toSource: Compete Online Shopper Intelligence – Q1 2011 Survey
- 37. Interest in retailer Facebook pages is still fairly low despite all of the buzz surrounding Facebook as a marketing tool. Facebook Fan Page UVs – February 2011 76K 78K 86K 223K 952K
- 38. About 26% of people visit an official retail or consumer product Facebook page at least once a month. How often do you visit official Facebook pages of retail and/or consumer product companies? (n = 3269) Source: Compete Online Shopper Intelligence – Q1 2011 Survey
- 39. Consumers are treating retailer Facebook pages like an online circular. Why do you visit a retailer Facebook page? (n = 1627) Source: Compete Online Shopper Intelligence – Q1 2011 Survey
- 40. Consumers still do not consider Facebook retailer pages as being very influential to making a purchasing decision. How influential have Facebook pages been on your decision to purchase those products or from those retailers? (n = 1627) Influence Not at all influential Extremely influential Source: Compete Online Shopper Intelligence – Q1 2011 Survey
- 46. Product categories that you can ‘touch and feel’ would most likely be negatively impacted by an online sales tax. Categories that consumers would decrease online spending (n=1357) Least likely to decrease spend Most likely to decrease online spend Source: Compete Online Shopper Intelligence – Q1 2011 Survey
- 47. A potential online sales tax would cause consumers to be more price sensitive and maybe spend more offline. Reasons spending would shift from online-only to offline retailers (n=1092) Source: Compete Online Shopper Intelligence – Q1 2011 Survey
- 49. 100% free shipping will likely be a defense that online retailers will need to consider if legislation expands
Notas do Editor
- Today, we’ll have two presenters. My name is Damian Roskill and I am the Managing Director of Marketing here at Compete. I’ll be leading the webinar.Our supporting presenter today is Jason Caine. Jason is a Director at our Retailpractice here at Compete.Jason will walk us through specific examples that highlight how competitive intelligence is being leveraged by Compete’s retail and consumer products clients to increase their marketing effectiveness across the online funnel.
- But before we begin, some webinar logistics.Today’s webinar will be recorded – we’ll email a link to the recording after the webinar.If you have any questions during the webinar, please enter them into the questions box on the right. We’ll work through all the questions at the end of the webinar and try and answer as many as we can.If you’re having technical difficulties viewing the webinar, try using a different browser such as Firefox.Finally, we’ll be tweeting during the presentation, so, as a reminder, the Twitter hashtag for today’s webinar is #oce.
- Let me also take a minute to give a little background on Compete.Compete is a leading provider of marketing effectiveness products and services. We help marketers measure advertising and promotional effectiveness, website effectiveness, search marketing and competitive benchmarking.We do this by leveraging a panel of over 2 million US consumers to give marketers insight into consumer behavior.Compete combines these products with industry specific expertise to offer our clients insights tailored to their industry and needs.Compete is part of Kantar Media, a subsidiary of WPP – which enables us to offer our clients a holistic view of consumers by leveraging other companies in the Kantar family such as Kantar Retail and Dynamic logic.
- Increase in home improvement traffic could be sign of improving economyDeclines in electronics retailer traffic likely due to lack of new hot products
- Office supply retailer conversion rates likely helped by decreased trafficHealth & beauty retailers likely losing some market share to mass merchants
- Walmart plans to offer more real-time “pick-up today” at all stores by summerBest Buy was one of the first to introduce this offering; likely cause for flat numbers
- Retailer point of differentiation in offering this service might be weakened as free shipping goes more mainstream
- Gas prices will likely weigh on costs associated with ship to store vs. traditional shipping in the short-term
- Walmart has experienced success by creating a community-oriented dialogue intended to spotlight and get to know its customers (vs. pushing its products)
- Retailers are successfully creating awareness but do not capitalizing on an opportunity to build deeper relationships with their customers
- Opportunity: Integration of more community oriented product reviews from friends on Facebook pages could increase their influence
- Some states have begun requiring online retailers with a physical presence in a state to charge a sales tax.