ShopTalk 2019 is generally being considered having had one of the best line-ups of speakers and stats in recent years. Namely because retail and eCommerce is changing faster than ever and everyone is struggling to keep up. Overall, buzzwords like omnichannel are taking on new meaning while community building is becoming ever more important.
Erik Nordstrom (Nordstrom, Inc.) discussed how shoppers are using all channels to learn and purchase:
- 50% of in-store visits start with an online session
- 35% of online sessions start with in-store visit
- For just under 50% of store purchases, the customer used a mobile phone to support their journey
- Contribution margin from e-Commerce sales is the same as in-store sales
- Online sales represented 30% of Nordstrom’s $15.5 billion revenue in 2018
Macy’s CFO Paula Price and Chief Digital Officer Jill Ramsey shared several stats related to their offline and online business:
- When Macy’s closes a store, online sales in that market decline
- Nearly 66% of online traffic and more than 50% of online sales come from mobile
- “We’re famous for our front windows, but Macys.com is our front window now,” Ramsey said. “This smartphone is our front window now. Our app customer is our most loyal customer.”
Coffee creamer brand Prymal’s CEO Courntey Lee shared her view on the current trend for community building:
- “2017 was the year of curating beautiful feeds (aspiration), 2018 was the year of authenticity (transparency), and now 2019 is the year of experience management and community-centric marketing (customer obsession).”
Ignited is working with retail brands to navigate the omnichannel waters, and we can help you too!