Profitero was proud sponsor of this year’s BRC Omnichannel Retailing conference. The key takeaway from the conference was that as mobile devices continue to drive a transformation in shopper habits, retailers need to put the customer first in order to deliver a true omnichannel experience – and either adapt or die.
This year’s Omnichannel Retailing conference included leading UK retailers House of Fraser, Sainsbury’s and Argos, all discussing how the customer journey is becoming ever more complex – and how retailers need to embrace and react quickly to this new retail reality as consumers become ever more demanding on price and product. Quite simply, retailers need to adapt or die.
In this fast emerging world of any time, any where shopping, however, a staggering statistic reported by the CEO of MandM Direct Jonathon Brown is that only 30 percent of UK retailers have a mobile optimised website – whilst only 8 percent have a tablet optimised site.
Jon Rudoe, Director of Online, Digital and Cross-Channel at Sainsbury’s discussed how price transparency has brought about a ‘massive democratisation of information for consumers’, whilst Andy Harding, House of Fraser’s Executive Director of Multichannel said that they’re not afraid of showrooming. Instead, HoF want to embrace technology by offering free WiFi in their stores to demonstrate to customers the value of their products.
Despite the huge transformation that mobile and tablet devices are having on retail, however, brick and mortar retailers all agreed that stores still have a vital role to play as a service function by ‘creating theatre and the brand’. River Island reported that more than a third of orders now come from click-and-collect and orders in-store, whilst House of Fraser announced that they are in discussions for a dozen more click-and-collect only stores.
To sum up the conference, one of the most memorable quotes: “In the future, there will only be two types of retailer: the quick and the dead”. Retailers who are unable to deliver a true omnichannel experience on price, promotion and product assortment need to take note.
Discover how Profitero delivers accurate and reliable competitor price intelligence to help retailers compete more effectively in today’s omnichannel retailing marketplace. Email us at email@example.com or visit www.profitero.com to find out how we can help you grow sales and margins.
Profitero.com: Online competitor price monitoring for retailers and brands
Profitero is the leading global provider of online competitor pricing data. We provide both bricks & mortar and online retailers with their competitors’ prices, promotions and full product assortment information. Profitero’s accurate and timely competitor intelligence enables our customers to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.
Our pricing data can be seamlessly integrated into price optimization solutions such as Blue Yonder, Revionics and IBM DemandTec, to deliver more accurate and effective price optimization. Profitero is also the preferred supplier of online competitor pricing data to Nielsen’s retail customers across more than 100 countries.