Although the "death of brick-and-mortar" was frequently discussed throughout 2017, it's clear now that the idea was more fiction than fact: During the holidays, brick-and-mortar stores actually posted year-over-year (YOY) sales gains.
But how consumers shop in-store and what influences their purchases are changing.
The report includes research of consumer behavior from more than 30 of the world;s leading retailers, across hundreds of brands and categories. Key takeaways from the report include the following:
- Nearly half (45%) of brick-and-mortar in-store buyers read online reviews before purchasing products; that's a 15% YOY increase.
- The ROBO multiplier, which measures how much online reviews influence in-store sales, varies by industry, ranging from $4.73 to $6.07. For example, in the art world, for every dollar of online revenue influenced by review content, reviews influence another $6.07 of in-store revenue.
- Half of all e-commerce traffic now runs on mobile, making omnichannel marketing vital in today's environment.
You can find the full report here and the infographic below. Just tap or click to see a larger version.
Continue reading "The ROBO Economy: How Online Reviews Influence Offline Sales [Infographic]" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
Sign in with your preferred account, below.
You may like these other MarketingProfs articles related to Marketing Strategy:
How to Identify and Prevent B2B Channel Conflict
You have a big channel partner who has doubled your sales. Yeah! But then the partner starts making decisions willy-nilly without checking with you. D'oh! Here's how to prevent similar conflicts. read this »
Could NFTs Replace Your CRM Strategy?
Do the potentials of blockchain technology go beyond the novelty of "owning" a digital piece of art? Perhaps. Future marketers could harness NFTs for functions typically associated with customer relationship management. read this »
Why ABM Should Be Supported—Not Driven—by Tech and Demand Gen
Is your ABM strategy following deals through close, or is it focused only on the top of the funnel? If the latter, your strategy is actually limited to tech and demand gen instead of true ABM. read this »
What Marketers Need to Know About NFTs
Okay, we've all heard about NFTs. But are they actually useful in the marketing world? How can brands incorporate them into their strategy? The answer may lie in community-building. read this »
The B2B Marketing-Sales Divide: More Leads vs. Better Leads
B2B marketers say their biggest marketing concern is how to generate more leads, whereas B2B salespeople say their biggest marketing concern is how to improve lead quality, according to recent research from SharpSpring and Ascend2. read this »
How to Create a Successful Pride Campaign
Pride Month is upon us, and many companies will rebrand with rainbows to mark the occasion. But running Pride campaigns without aligning your brand with LGBT struggles is disingenuous. Here's how to do Pride Month right. read this »