Consumers engage with retailers on Facebook more than they do on the retailers’ own websites. Nine-in-10 consumers say how much they spend is impacted by their social media engagement with a brand. These are some of the findings of a study by Infosys, a leader in consulting, technology and outsourcing.
In addition to the impact of social media on spend, the “Rethinking Retail” study reveals how retailers are struggling to create the kind of consistent and personalized experience online and in stores that drives increased sales. Nearly two-thirds of consumers say that consistency plays a role in their tendency to spend with a brand (63%), while 34% say high consistency across a brand's channels would mean a greater spend, while a lack of consistency results in a reduction in their spending (39%).
Other key findings of the report include:
- Eighty-nine percent of those who interact with a retailer online through any social media outlet say that the interaction has an impact on their purchase.
- Women are twice as likely as men to be influenced by Pinterest; YouTube influences twice as many men as women.
- Only 2% of all people polled say that FourSquare has any influence on their purchase.
- Though 62% of retailers reported that they offer personalized offers in store, only 20% of consumers report seeing 'in-store only' personalized offers. And 59% of consumers who have experienced personalization believe it has a noticeable influence on their spending.
- Consumers are three times more likely to impulse-buy in a store than online.
- Nearly all (96%) of consumers expect retailers to inform them of new products. Only 34% of retailers, however, can track consumer trends in real-time, reducing their ability to rollout appropriate offers which can drive sales.
- Lack of technology is the most common factor (38%) preventing retailers from creating a more integrated customer experience within their organization.