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Other companies who were late to creating digital customer experiences suffered as people stayed away from traditional stores and shopped online. The American Customer Satisfaction Index’s recent COVID-19 special retail study showed satisfaction declines across 75% of the retail companies.
The use of online direct-to-consumer (D2C) channels to purchase consumer-packaged goods (CPG) has grown by 50.1 percent since the pandemic began, surpassing the growth of online marketplace use in key product categories like food and clothing. The study is based on a survey of almost 2,200 U.S. PYMNTS research shows that 51.7
A new Mastercard initiative aims to improve online transaction clarity so that customers can know exactly who they purchased from, according to a press release Tuesday (Sept. The release said doing so is a way to both clear up confusion for customers and also to allow brands a way to establish more presence.
Sensory branding is having a moment. These are some admittedly “out there” examples of sensory branding, which is popular lately for several reasons. Supplementing the “sight” of marketing and branding with a taste or a sound creates an entirely new set of tools to attract consumers. And sensory branding isn’t limited to sound.
Even online merchants who offer customers extended warranties at the time of sale traditionally see about a 4 percent or 5 percent conversion rate. Extend also announced on Thursday new partnerships with Peloton, iRobot, Harman/JBL, Advance Auto Parts and other brands to offer their customers extended warranties.
Salesforce is rolling out a new product to let B2C and B2B companies easily add loyalty programs at a time when the company says online holiday retail sales grew 50 percent to top $1 trillion. consumers have tried new brands since the pandemic began, with 80 percent of them planning to stick with the new products even after the crisis passes.
The pandemic is proving to be a tough loyalty test for retailers, as they are competing for customers’ attention in an environment where competition is still present in both online and in stores. One recent study found that 51.7 They are beginning to value placing more emphasis on being able to pay however they like, for example.
That’s the current state of play in Southeast Asia where social commerce is growing rapidly as brands try to find new ways to sell during the pandemic. The study also validates the rise of live-selling, or broadcasting of live videos featuring products. Line charges brands for sending messages and livestreaming.
Consumers have shopped online, via mobile devices and at brick-and-mortar stores in various capacities for years, but the pandemic is dramatically expanding the connections between these channels. Overall digital sales jumped more than 31 percent in a three-month period, according to one recent study , with American consumers spending $211.5
A report has found that opening a new brick-and-mortar location can cause a significant boost in a retailer’s online traffic. According to a recent ICSC study, “ The Halo Effect: How Bricks Impact Clicks ,” when retailers invest in brick-and-mortar stores, their online presence grows. The clicks versus bricks debate is over.
While large banks may not feel threatened by personal finance apps or digital-only challengers, they can learn from them on the digital onboarding front, a recent Gartner study observed. It examined 1,200 data […].
This is the year that customer experience surpasses brand and price as the most important factor in retail. That’s according to several studies, including one that says 86 percent of consumers will pay a premium for it. Online retail increased by 1.3 The survey also found that department stores are stronger online than in-store.
Being able to order groceries, prescriptions, and other essential products online can be a challenge for people with disabilities in the best of times. An accessible site can bring in additional customers and provide brand differentiation from your competitors. Accessibility should be included during the design phase of your process.
I helped with driving the early subscriber growth for America Online, through a distribution deal that they had with the company that I worked with at the time was called Phoenix Technologies. If you just become something or some brand that is so good at doing what it does that users love it, and they seek you out.
While many luxury retailers have found themselves needing to slash prices to keep inventory moving, some luxury brands are switching manufacturing to assist in the coronavirus crisis. One study found that 48 percent of luxury shoppers insisted on a refund or a coupon after a single unsatisfactory retail experience.
But since it’s the data point that most use to define the online/physical retail sales split, let’s use it to project, based on historical trends what the world looks line in twenty years. Amazon, of course, owns Whole Foods and operates its own branded book stores and convenience stores. Investor activists think it should be eBay.
Using those models, the trailing 12-month, non-adjusted, online retail sales numbers show an increase of 31.4 Marketplaces and brands now make it easy now to auto-refill everything from paper towels to pet food, skin crèmes to salty snacks, bottled water to baby wipes. CPG Goes Online — And To Auto-Refill.
This idea underscores the natural forces at work as brands battle to keep pace with customer expectations and stay relevant. A Salesforce study revealed that 88% of companies plan to accelerate digital investments in 2021. Next, you need to size up your offerings against rivals and reference brands.
I presented on this topic, along with my colleague Scott Albahary – Chief Strategist for Financial Services here at Perficient and Jim Marous – Co-Publisher of The Financial Brand , to approximately 500 financial services industry folks. You can view the webinar on-demand by going to The Financial Brand site at this location.
Power research shows that the number of customers doing their credit applications online has kicked into high gear. Consumer Financing Satisfaction Study. Consumers and Banks Both Like Online Auto Loans. Online Sales Are Also Booming. But not surprisingly, online car sellers are thriving this year. Power 2020 U.S.
Merchants must constantly reevaluate their customer-targeting efforts to suit the latest commerce developments, and many are pivoting from brick-and-mortar advertising to focus their outreach online or via social media channels. These trends are in turn ratcheting up the number of customers who are moving to new brands.
Unanswered customer complaints is one common example, particularly for companies that are new to amplifying their online channels. A new category is starting to grow around this area of online reputation management, with Lexus one of the latest brand names to embrace it.
With the most recent COVID-19 studies from PYMNTS reinforcing the need for health and safety in the retail world, some retailers are stepping up to accommodate consumers’ concerns. Grocers must, therefore, be ready to adapt innovative tools, both online and in-store, that can help keep that experience seamless for consumers.”.
A new study by Marketplace Pulse showed that Amazon-owned private-label brands aren’t as successful as many think, according to a report in Bloomberg. The New York-based eCommerce research firm found shoppers aren’t any more inclined to buy the Amazon brands , even when the company highlights them in search results. “We
Overstock has unveiled 17 exclusive private label furniture brands, featuring more than 16,000 furniture and home décor products. After studying data from the more than 7 million items available on its website, Overstock was able to identify styles and products its consumers were seeking most.
What was once a small but meaningful constituency — online shoppers — suddenly seem to be holding all the cards. How consumer packaged goods (CPG) brands and subscription-based businesses respond to this important trend will be make-or-break for many. percent of consumers have bought CPG through these channel.”.
Amido , a vendor-agnostic technical consulting agency, believes that the majority of big brands are still failing to understand their customers, despite a number of technological solutions designed to help them do so. to offer up products and services that customers want, when they want them and in the right channel.”.
Online sportsbooks have been beneficiaries of that dictum ever since COVID-19 eradicated most live sports, leaving millions of fans and a great many bettors potentially mired in boredom. Under its Giants deal, DraftKings will receive “premier brand integration across MetLife Stadium during Giants home games,” per the companies’ statement.
The study, which was conducted by Researchscape, reveals that despite a wealth of data about customer behavior and purchasing choices at their disposal, companies have not been effectively using this data to better meet consumer expectations.
The biggest brands in the U.S. Corporates that could quickly invest in new technology also benefited from the fast, unexpected pivot to living, working and learning online. This disparate “K-shaped” recovery is expected to define the country’s economic rebound from the pandemic gripping the world, according to FT. A record $2.5
The Playbook also features a case study on how the home furniture store Interior Define is putting digital D2C strategies into practice in a challenging economic environment. Interior Define is one such company that exemplifies these trends, as highlighted in our case study. billion in 2020. billion in 2020. About The Playbook.
The Tmall Genie smart speakers were introduced by Alibaba three years ago and link to more than 270 million devices from 1,100 brands in China, according to Ku. The Tmall Genie’s latest model has a 10-inch screen and supports a variety of live concerts and online classes in addition to Taobao Live.
This year will not only go down in history as “the year of the pandemic,” but for consumer packaged goods brands, it will also be known as “the year of direct to consumer.”. PYMNTS’ recent How We Shop: Measuring the Rapid Digital Shift study, done in conjunction with PayPal, found that a large share of U.S. For example, 43.9
A recent study found shoppers are 75 percent more likely to make purchases if offered such perks, but even those enticed by rebates do not have kind words for payout frictions. Paper checks are thriving in the online rebates world, though, despite consumers growing more familiar with options like one-click ordering.
To compete, finance providers should be utilizing data-derived insights to secure their customer base, improve their service and capitalize on their brand strength.” The latest entrants to the market bring agility and a sharp focus on customer service. Cross-selling opportunities were cited by 42 percent of companies.
Study Shows Americans Struggling As Savings Dry Up. billion in sales during Prime Day on Amazon’s online marketplace, as eCommerce activity surges in the wake of the coronavirus pandemic, the tech giant reported. Here’s how some really creative D2C brands are using new tech to do that. billion in Prime Day sales. But Sticky.io
Purchase: Of the 74% of insurance buyers that begin their journey online, only 25% will purchase their policy using the same channel. According to a 2020 study , only 39% of agents improved their year-over-year performance, so there’s a lot of room for improvement.
A study by Dotcom Distribution, a logistics and fulfillment firm, found that close to 90 percent of online shoppers consider delivery times central to their decision to shop with an eCommerce brand in the future. In 2015, 60 percent claimed that brand packaging affected their perceptions versus 68 percent in 2016.
It seems almost illogical that just when consumers are spending record amounts of personal and professional time online and enthusiastically embracing the pandemic’s digital shift, they’re also becoming increasingly leery of with whom they do business. And yet, research from PYMNTS shows that’s exactly what’s happening. The 80/20 Split.
Eighty-one percent of consumers in one recent study said that trusting brands was a major factor in determining whether they would interact with them, for example. doubled to more than 2 million during the six months preceding the study. Another study found a 35 percent increase in downloads for such apps during Q2.
Per the new study , “consumers (81.7 Of respondents to this latest PYMNTS COVID-19 study, “normal” means seeing friends and family in the old familiar places, having a meal, and attending services, cookouts and vacations. In fact, consumers now expect the recovery to take longer than they did before,” per the new study.
These retailers are accustomed to engaging with their customers in brick-and-mortar stores and building long-lasting relationships that lead to brand loyalty. Many consumers are shying away from physical stores, however, leaving these high-end merchants scrambling to develop strong online presences. Around The Buy Now, Pay Later World.
PYMNTS researchers found that what we call “social shifters” moved online fast but are most likely to rush back to physical stores and outside activities. Very recently, the fourth annual How We Will Pay 2020 study, done by PYMNTS in collaboration with Visa (more from that in a minute) gave new context to the shifters.
In addition, Razer ’s mobile wallet dubbed Razer Pay may come to tens of thousands of point-of-sale (POS) terminals in Singapore , and a Worldpay study has found that consumers in Singapore still prefer to make payments with credit cards over eWallets. At the same time, only 13 percent of adult smartphone users in the U.S.
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