New York – January 14, 2014: Consumers engage with retailers on Facebook more than they do on the retailer websites. Nine in ten consumers say how much they spend is impacted by their social media engagement with a brand. And FourSquare has virtually no impact on consumer purchasing.
These are some of the core findings of an independent study released today by Infosys, a global leader in consulting, technology and outsourcing. ‘Rethinking Retail’ is a detailed report on interviews with 1,000 consumers and 50 retailers across the United States. In addition to the impact of social media on spend, the study reveals how retailers are struggling to create the kind of consistent and personalized experience online and in stores that drives increased sales.
Key findings of the study
Social media matters
Brand consistency across channels significantly impacts consumer spend
Consumers see far fewer in-store personalized offers than retailers claim they offer; retailers losing out
Online shoppers are regularly targeted with more personalized perks than those who shop in-store
Lack of technology limits retailers who want to offer superior customer experience
Sandeep Dadlani, Senior Vice President and Regional Head (Americas) – Retail, CPG and Logistics at Infosys:
“Creating a consistent experience across all physical and digital touch-points has a direct impact on sales. However with the dominance of social media, creating a consistent and personalized relationship with consumers is now much harder. Retailers and brands need to arm themselves with the technology that can ensure their fans and brand advocates receive the same personalized service across channels to increase sales.”
Infosys commissioned an independent technology market research specialist Vanson Bourne to undertake the research upon which this report is based. Two sets of interviews were conducted in December 2013, the first consisted of 1000 interviews with US consumers and the second consisted of 50 interviews with marketing decision-makers in retailers with more than 300 physical stores. Interviews were conducted online and by telephone using a rigorous multi-level screening process to ensure that only suitable candidates were given the opportunity to participate.
About Infosys Ltd
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$7.4 billion in annual revenues and 158,000+ employees, is Building Tomorrow's Enterprise® today.
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