The Changing Retail Landscape
The last decade has seen sweeping changes in the retail landscape as new technologies have begun migrating from ecommerce into the realm of traditional brick and mortar stores. The growing number of smartphones, tablets, touchscreens, and in-store apps has combined to create more channels, increased commoditization and produced less loyalty as customers have turned into moving targets.
Even though Search Engine Marketing (SEM) budgets continue to climb for online retailers, 98% of all ecommerce visitors still leave without buying anything. In stores, “showrooming” – where smartphone-enabled shoppers examine merchandise and then buy elsewhere – has become a critical issue.
The Challenge: How to reach, connect and serve shoppers in a way that shows you understand what they want, no matter where they are or how they like to shop?
The Solution: Offer up a relevant and engaging shopping experience through personalized product recommendations that converts browsers to buyers. It’s a solution that reaches shoppers right at the point of purchase while lowering operational costs, improving profitability through cross-sell and up-sell, and connecting you with consumers across every channel.
What can personalization do for my business?
Your store is competing in a worldwide market where the competition is just a click away. It means you are competing against large retailers like Amazon and Wal-Mart, who have sophisticated – and expensive – automated product recommendations systems. Even if they cannot afford an automated solution, thousands of midsize retailers are adding recommendations manually every day. If you’re online, you’re spending a lot of money to get people to your website, but you see only 2% of shoppers convert from browsers to buyers. In stores, you’re watching customers examine merchandise and then price shop on their smartphone before leaving. To make the most of your retail infrastructure, it’s critical to increase conversion rates and maximize average ticket values.
4-Tell gives you the power of automated, personalized product recommendations at an entirely new price/performance threshold. You can now keep customers engaged longer and increase conversions with personalized product and content recommendations, no matter where or how they like to shop. Whether they are on a website, email, smartphone, tablet, app, or display, recommendations make it easier for browsers to find the products they are seeking directly or indirectly (i.e. items shoppers may not know they want until presented with them). Personalized product recommendations greatly improve the shopping experience by enhancing customer engagement, leading to:
- Greater conversion of browsers to buyers
- Larger average order value
- Lower cart abandonment
- Improved customer loyalty resulting in more repeat business and referrals.
4-Tell: Personal. Powerful. Profitable.
It’s the next generation of recommendations.