Define a new shopping experience

As a result, traditional marketing methods are quickly becoming obsolete. Consumers are more empowered than ever before. Shoppers can now use smart phones to check product price and availability at competitors while browsing in your store. Social media provides real-time feedback on potential purchases. One-size-fits-all will soon be one-size-fits-nobody.

How do you respond to this shift in the retail landscape? One way is to provide a timely, relevant, and seamless shopping experience; in other words, a “smarter shopping experience.”

Smarter shopping experience competency outcome map

Our industry research identified five key competencies that together define the smarter shopping experience:

• Integrated information
• Prescriptive insight
• Precision marketing
• Relevant experience
• Continuous dialog

The IBM Center for Applied Insights and our global retail industry team consolidated these findings in a new executive report, The Value of a Smarter Shopping Experience. This report provides an in-depth look at the competencies and potential benefits of offering timely, relevant shopping experiences.

Define your roadmap

While your journey to create a smarter shopping experience will be unique, the outcome is clear: increased revenue and profitability. In fact, our research suggests that retailers may see 1% to 3.5% of revenue in annual pre-tax benefit.⁴ And that’s a destination worth the journey.

Download The Value of a Smarter Shopping Experience to learn how to drive customer loyalty and advocacy in the era of the “smarter consumer.” (1.5MB)

¹ ”Global Mobile Phone Subscribers to Reach 4.5 Billion by 2012.” Market Intelligence Center. March 2008. http://www.cellular-news.com/story/29824.php

² http://www.internetworldstats.com/stats.htm

³ http://www.facebook.com/press/info.php?statistics

⁴ IBM Center for Applied Insights, Quantitative Research, October 2011