Best Buy, Target and Walmart are Gaining Ground Against Amazon with Consumers Who Conduct In-store Product Research with Their Mobile Devices and Later Purchase from Amazon
Down from 29% a year ago, only 20% of consumers who use a smartphone to research a product while at any retail store end up purchasing the item from an online-only retailer, according to a consumer perception study conducted by leading market research firm ClickIQ. The 9-percentage point drop from the same study conducted a year before indicates that retailers are doing a better job of combating the revenue loss from Showrooming.
Minneapolis, MN (PRWEB) February 22, 2013
Market research firm ClickIQ recently repeated a survey it conducted a year ago to U.S. consumers to ask them if and how their mobile devices play a part in their in-store shopping experience. The intent of both studies was to talk only to shoppers who used their mobile devices to research products while they were in the retail store and either then or later purchased the product. Both studies dug deeper to find out which retailers these technology enabled shoppers visited to research a product and where they eventually purchased the product. The respondents possibly visited more than one retailer but the studies show that the retailers most frequented for in-store research by these respondents both in 2012 and 2013 were Best Buy, Target and Walmart.
To find out what happened after the in-store research was complete, respondents were asked to state where they eventually purchased the product they were researching. Taking a look at these top three retailers and comparing the responses from 2012 and 2013, Best Buy, Target and Walmart each gained significantly in retaining the sale from Amazon.
Specifically, 35% of those that researched at Best Buy in 2012 ended up purchasing at the Best Buy store with another 14% purchasing at BestBuy.com. 21% of Best Buy in-store researchers purchased the product from Amazon. 2013 results show that Best Buy had the same percent of shoppers that researched in the store (35%) actually purchasing from the store, but lost sales from their website with only 3% purchasing from there. However, 2013 found that only 10% defected to Amazon vs. 21% from the prior year.
Of those that did their research at Target in 2012, 29% purchased at the Target store, 8% purchased at Target.com and 21% purchased from Amazon. 2013 data shows that Target did the best job retaining customers with a full 43% of in-store researchers making their purchase from the Target store, a significant increase over the 29% from the previous year. Where Target fell short was dropping from 8% who purchased at Target.com in 2012 to less than 1% in 2013. Even with that drop, Target gained back from its 21% loss to Amazon last year with a defection of only 13% this year.
Walmart also gained from in-store researchers who made the purchase in the store from 26% the previous year to 35% in 2013. Like Target, Walmart did lose some Walmart.com sales, dropping from 10% last year to 4% this year. Walmart is also doing a good job of combating defection to Amazon by decreasing its loss from 24% last year to 14% in 2013.
The 2013 study went a step beyond the prior year and asked those who had made their purchase online, either at the retailer´s website or another online website, how satisfied they were with their purchase. A whopping 94% of respondents indicated they were either “very” or “extremely satisfied.” According to Robert Boese, ClickIQ V.P. Operations, “these high satisfaction ratings for online purchases show just what a challenge brick & mortar retailers have ahead of them.”
2012 data was collected in an online survey from 3780 of ClickIQ´s U.S. consumer panel members from March 2, 2012 through March 8, 2012. 2013 data was collected in an online survey from 5543 of ClickIQ´s U.S. consumer panel from January 30 to February 7, 2013. Target respondents in both the 2012 and 2013 surveys must have shopped in a retail store within the past 3 months and also own a mobile device. 406 in 2012 and 1000 in 2013 were further qualified by stating that they used the mobile device while at a brick & mortar store to research a product and have since purchased the researched product. The survey results have margin of error of +/-5% at a 95% confidence level.
ClickIQ, Inc., based in Minneapolis, Minnesota, is an award-winning market research firm that employs fully integrated online management tools, a proprietary consumer panel, and skilled market research analysts to deliver quantitative consumer and shopper insights to some of the best known and most respected companies across the U.S.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/2/prweb10458081.htm