As retailers continue to wrestle with digital attribution, omnichannel investments offer a rare, blue line path to ROI. 89 percent of the retailers classified by L2 in 2014 as omnichannel leaders saw positive same store sales growth this year.
Why? E-commerce pureplays typically net 77 cents on the dollar due to costly returns
However, retailers with e-commerce that offer in-store returns net 95 cents on the dollar, replacing lost revenue with incremental in-store spend during the return process.
The trifecta?: retailers that offer both in-store pick-up AND in-store returns enjoy an accretive effect – the shoppers leave the store with 107 percent of their original online order value, after exchanging merchandise and making incremental purchases.
Macy’s, the #1 Dept Store in our DIQ in 2014 and 2015, saw its stock reach all-time highs , after completing a sweeping reorganization; closing unproductive stores and reallocating
dollars towards technology and fulfillment infrastructure to deliver a seamless customer experience.
Many retailers made meaningful strides in 2015: More than half of retailers, with the exception of luxury retailers, now provide in-store inventory transparency on sites.
In-store pick-up investments have also increased from 2014 levels, and large format retailers including Nordstrom, Target, and Walmart have rolled out curbside pick-up pilots in the U.S.
In 2015, digital channels will influence 64 percent of offline sales, up from 49 percent in 2014.
The growth represents an overwhelming shift towards online or mobile research of even the most benign purchases.
However, excelling at omnichannel means a consumer focus at all the touch points in the purchase funnel.
This report examines the efforts of retailers to drive customers from clicks to bricks and back again. Members can download the full report at L2inc.com.