As the end of IRCE quickly approaches there are some clear trends coming out of the show, trends that are being noticed and in many cases set by some of the top retailers in the world. Target has played a major role at IRCE which doesn’t come as a surprise given their intense focus on digital and innovation.
Yesterday Jason Goldberger, (@jasongoldberger) the President of Target.com and Target Mobile shared some incredibly interesting data, one that has been making the rounds and will really hit home for most retailers is:
“98% of target customers shop digitally, shoppers who shop online and in store shop 3 x more often and they spend more in store”
Our co-founder Morgan Linton spoke about this in a blog post on his own blog yesterday as well saying:
“This week, pay attention to when you take your phone out of your pocket and you might just realize that there is no longer a division between online and in-store, because now when you’re in a store, you’re also online.” (Source – MorganLinton.com)
This morning 1-800 Flowers gave a great keynote and really tied many of these trends together by emphasizing the importance of embracing change. With our co-founder and VP of Product on the front lines at IRCE we asked them to share the top three retail trends they have observed, here they are:
Mobile > Desktop
We now live in a mobile world and even the concept of “mobile first” is trite. People are shopping on mobile devices and when they’re not using those devices to buy, they are using them in-store as part of their physical shopping experience. There is no more debate, mobile won and leveraging mobile both online and in-store is critical for retailers to connect with their shoppers.
Omni-channel has become a dangerous buzzword
For years now solution providers have been telling retailers they need to focus on “omni-channel”. Booths all over the conference floor have the phrase in bold, many calling themselves the go-to solution for omni-channel. While it is true that retailers do need to be successful online, on mobile devices, and in-store it can be a major issue when it’s not done right as discussed in this article on MarketingLand. Just to be clear, omni-channel is more important than ever, but doing it right isn’t as easy as it sounds and it’s clear at IRCE this year that retailers are realizing many of the complexities involved in delivering on the same customer experience in multiple channels.
It’s all about the data
This morning Forrester Research shared some very interesting data, about data – “By 2020, the amount of data that customers create daily will be 100X that of today.” Think about that and the incredible opportunities that provides for retailers, at the same time this also means that ingesting and making sense of data will become more important than ever. It’s exciting for us at Fashion Metric since we are providing retailers, brands, personalization companies, email targeting engines better personalize the apparel shopping experience with more data than ever before.