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Strategy Briefing

Impulse Buying and The Digital World: How Retail is Adapting

52 pages, Nov 2013

US$1,200

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Internet retailing growth has been driven by price and product range, but as store based retailers learn to leverage their multichannel capabilities and smartphones blur the lines between in-store and online, e-tailers must raise their offer in order to compete. Euromonitor International investigates how the online world can harness a key in-store sales driver, impulse buying, by adapting new technologies and reinventing old retail strategies.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Internet retailing is having to work harder

As the competitive environment within internet retailing becomes fiercer, e-tailers are having to work harder for sales. Impulse has traditionally been weaker online than in-store, but could drive sales growth if harnessed.

Store-based retailing is a more natural fit for impulse

Consumers prefer shopping in-store because of immediacy, convenience, easier returns of unsuitable purchases and being able to try before buying – which are also all key elements of an impulse buy.

Rise of smartphones is a gamechanger for online impulse retailing

M-commerce is more than just internet retailing via a different gadget; mobile online access has made it possible to find and buy products almost instantly and almost anywhere.

Buying no longer happens just in stores or online – the whole world can become a shop

Browsing no longer just happens on a screen – any object can be a potential purchase with new finding apps, while virtual stores create shelves full of products in two dimensions.

Making sure the product is right without seeing and testing it is still a challenge

Further development is needed before apps become virtual replacements for the fitting room or tester pot, but the process has begun. In-home body scanning could be a major change to hit apparel internet retail.

Easier payment methods are opening up sales to retailers as well as e-tailers

Consumers are being freed from the requirement to enter a credit card number to pay online, or even have a card at all. Contact payments have potential for speedy collection, while instant credit will boost big-ticket buys.

Order fulfilment is a focus area – speed or convenience is key

Immediate gratification is a key driver of impulse buys, but same day delivery, 90 minute delivery and convenient collection points are all making order fulfilment issues less of a barrier to online impulse sales.

What this report includes

Top-level strategic analysis of how major consumer trends will influence global markets
Consumer insight
Impact across all relevant consumer markets
Unique graphics and case studies
Key market snapshots
Accompanying presentation to synthesise main findings

Why buy this report

Identify factors driving change now and in the future
Understand motivation
Forward-looking outlook
Briefings and presentation should provoke lively discussion at senior level
Take a step back from micro trends
Get up to date estimates and comment

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Introduction

Scope

Key findings

Current Trends in Online Retail

Cross-industry online penetration patchy

Online vs offline: Different worlds for product categories

Category focus: Beauty and personal care

Category focus: Apparel

Impulse buying: A strategy for online-only retailers too

The Anatomy of an Impulse Buy

Consumer perceptions: In-store v s online

What consumers like about stores fits well with impulse buying

Smartphones: Technology tailor-made for a multi-channel world

Smartphones take over the mobile phones market

Four steps t o an impulse buy

Encountering

Encountering: Virtual stores bring the shelves to the shopper

E-tail specialist gets physical to tap into impulse buying

Encountering: Product finding apps turn the world into a store

Augmented reality makes product information come alive

Encountering: Magazines put virtual showrooms in context

Trying

Tech interfaces bridging the gap between online and in-store

…But apps put product experience right into customers’ hands

Bodyscanners aim to take guesswork out of online shopping

For now, the solution is low tech: A smooth returns process

Buying

Factors making online impulse shopping quicker and easier

Impulse options increase as mobile technology advances

The race to build the next global payment system

Online impulse could lose out as credit card payments open up

The original online impulse format: Flash sales

Instant credit makes online impulse more affordable

Possessing

Possessing: Parcel collection lockers become a focus area

Possessing: Internet retailers achieve almost instant gratification

Crowdsourcing models make shopping easier – but do they pay?

What’s Next?

Mobile phones to define the online world in emerging markets

Impulse opportunities: Apparel

Impulse opportunities: Electronics and appliances

Impulse opportunities: Health and beauty

Impulse opportunities: Home and garden

Impulse opportunities: Media products

Impulse opportunities: Toys and games

Impulse opportunities: Grocery

Apparel to cement its position as leading internet category by 2018

Shifting consumer habits complemented by new technologies

Category potential for “seeing” and “trying” strategies

Category potential for “buying” a nd “possessing” strategies

Report Definitions

Data parameters and report definitions

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Megatrends

Strategy Briefing

Impulse Buying and The Digital World: How Retail is Adapting

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Internet retailing is having to work harder

Store-based retailing is a more natural fit for impulse

Rise of smartphones is a gamechanger for online impulse retailing

Buying no longer happens just in stores or online – the whole world can become a shop

Making sure the product is right without seeing and testing it is still a challenge

Easier payment methods are opening up sales to retailers as well as e-tailers

Order fulfilment is a focus area – speed or convenience is key

What this report includes

Why buy this report

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Current Trends in Online Retail

Cross-industry online penetration patchy

Online vs offline: Different worlds for product categories

Category focus: Beauty and personal care

Category focus: Apparel

Impulse buying: A strategy for online-only retailers too

The Anatomy of an Impulse Buy

Consumer perceptions: In-store v s online

What consumers like about stores fits well with impulse buying

Smartphones: Technology tailor-made for a multi-channel world

Smartphones take over the mobile phones market

Four steps t o an impulse buy

Encountering

Encountering: Virtual stores bring the shelves to the shopper

E-tail specialist gets physical to tap into impulse buying

Encountering: Product finding apps turn the world into a store

Augmented reality makes product information come alive

Encountering: Magazines put virtual showrooms in context

Trying

Tech interfaces bridging the gap between online and in-store

…But apps put product experience right into customers’ hands

Bodyscanners aim to take guesswork out of online shopping

For now, the solution is low tech: A smooth returns process

Buying

Factors making online impulse shopping quicker and easier

Impulse options increase as mobile technology advances

The race to build the next global payment system

Online impulse could lose out as credit card payments open up

The original online impulse format: Flash sales

Instant credit makes online impulse more affordable

Possessing

Possessing: Parcel collection lockers become a focus area

Possessing: Internet retailers achieve almost instant gratification

Crowdsourcing models make shopping easier – but do they pay?

What’s Next?

Mobile phones to define the online world in emerging markets

Impulse opportunities: Apparel

Impulse opportunities: Electronics and appliances

Impulse opportunities: Health and beauty

Impulse opportunities: Home and garden

Impulse opportunities: Media products

Impulse opportunities: Toys and games

Impulse opportunities: Grocery

Apparel to cement its position as leading internet category by 2018

Shifting consumer habits complemented by new technologies

Category potential for “seeing” and “trying” strategies

Category potential for “buying” a nd “possessing” strategies

Report Definitions

Data parameters and report definitions

Why buy this report?

Want to find out more about this report?

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