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MELBOURNE – December 11, 2013 – Australian shoppers are not abandoning the shopping mall this Christmas, but they are coming armed with the best pricing and product information on what they want courtesy of digital retail tools, according to Australia founded online measurement specialist Effective Measure’s latest research.
The retail sector may experience a subdued holiday spending season according to Effective Measure’s first annual “Australian Shopping Intentions Report” December 2013 with only 25 percent of survey respondents stating that they would spend more this Christmas compared to last year. But for the consumer, the rise of digital tools at their fingertips will mean that the shopping experience will be far more targeted and cost effective, Effective Measure said in a press release.
The survey indicates that as consumer spending sentiment is tight, using the best tools to extract a bargain will be the secret to a great shopping season.
Effective Measure survey respondents revealed that price comparison sites are driving digital traffic for the astute shopper, with men taking the lead in their price gathering information than women. While consumers are clearly displaying a behavioural shift in extracting value for money, which has been fuelled by the power of data- whether via the mobile or online, the report reveals that consumers are more likely to use their digital information to make a transaction instore.
Effective Measure, Regional MD-Oceania Dinesh Arasaratnam said, “digital vs. physical retail is not a David and Goliath battle anymore, it is actually emerging as a complimentary status quo, where the consumer is the winner. Retailers need to see that their greatest opportunity rests in understanding how their data is the key to more effective business performance. Collecting on and offline data is one step but extracting the value from it and applying that to retail strategy and customer engagement is now key.”
Although shoppers use digital channels to source product information, they remain traditionalists in doing their shopping in retail outlets. One third of women surveyed said they do the majority of their shopping online while only 23% of men said that they would buy their ts online.
“Despite the fact that traditional retailers can feel the digital disruption shifting consumer behaviour and purchasing power, there are many that continue to ignore the opportunities that are being delivered by an integrated channel strategy where digital engagement can actually help power and uplift in-store sales,” Arasaratnam cautioned.
In other findings, offshore online purchases were now part of the core shopping list budget with men nominating an overseas budget of AUD$313 while women had AUD$216 allocated for overseas shopping. The leading overseas online shopper market in Australia is the A.C.T.
Price and discounting are commonly seen as the drivers for online shoppers but the survey points to customer retention through loyalty programs and the role of t incentives to keep customers happy, the report reveals.
“Effective Measure is empowering retailers with the data and the tools to extract the deepest understanding of their consumers and provide the best possible shopping experience for the customers, whether online or in-store. Our data insights can re-direct online strategies to complement offline consumer engagement and conversion,” Arasaratnam said.
The Effective Measure SHOP Dashboard provides valuable information on the demographic profile of shoppers at the store, line or product level and for example, could be used to identify the perfect “ t with purchase” to offer a customer to ensure conversion
Using tools such as SHOP allows retailers to harness the power of their own data to not only accelerate business performance but redefine the customer experience on the terms that they understand and are demanding in the online world. The Effective Measure “Australian Shopping Intentions Report” December 2013, is based on a survey of Australian consumers via Effective Measure’s network. The research took place during November 2013.
