How fast can someone spend 10,000 bucks?
Probably a few minutes, or a few hours, or days.
Or they can do all three. And all for buying the thing.
Just depends on three things about that someone.
Availability of information: What are the many ways of buying and the available offers they know of.
Agility to shift: How fast they can switch between “the many ways”.
Stage of purchasing: How close are they to making the final decision.
Let’s take the example of Jane, Jaine and Jayne, who want to buy a jacket.
Jane needs a jacket, so she visits different jacket stores. Unfortunately, she doesn’t find anything nice, so she decides to check on the internet later to see if there are any good options. The next day, Jane finds a nice jacket online by Zigzag Jacket and places an order.
Jaine needs a jacket, so she goes online and explores options. She likes one by Zigzag Jacket but is unsure how great it would be. Jaine visits the brand’s nearby store an hour later to try out samples. She realizes that the store is giving her better offers than online. Jaine buys the jacket from Zigzag Jacket’s store, along with other clothes that she got at a good discount.
Jayne wants to buy a Zigzag Jacket of a particular size. She opens Zigzag Jacket’s shopping app and places an order for the jacket by the next minute. Jayne had visited a lot of stores in the last few days. She liked a jacket, but unfortunately, the Zigzag Jacket store did not have the right size she wanted.
So what impacted the speed of purchases of these consumers?
Jane took a few days because she needed time to switch between channels and gather all the relevant information.
Jaine took some hours because she could quickly shift between different channels and gather the required information to make her decision.
Jayne took less time than Jane and Jaine, because she had already decided what she wanted. She only needed the way to buy what she wanted.
But the most important question is – how did Zigzag Jacket manage to get all three of them in the customer basket?
They did so by ensuring that products, channels and information were available and accessible at all times.
The right retail technology ensures that the same products are available to the consumer, both online and offline.
It makes sure that the right information is easily available to the right customer, at the right time. Like, a list of the nearest brand stores.
And most importantly, retail technology like Bizom binds both online and offline supply chains, making it easier for consumers to flow across different channels seamlessly. Bizom ensures that retail brands are always standing at the window of opportunities, no matter when the consumer decides to buy.
Are you always where the opportunities are?
Explore Bizom’s Omni-IN retail intelligence platform to discover different tools and technologies that can help you build a seamless omnichannel experience for your shoppers and help drive higher sales growth. Mail us at firstname.lastname@example.org to connect with our team.