2010: A New Year Brimming with New Opportunities

As we welcome 2010 I ask what will be the next step in the ongoing evolution of the online shopping experience—as it advances beyond a transaction-only focused environment to a rich experience that provokes product discovery and engagement. Retailers worked hard in 2009 to improve the online experience, and shoppers rewarded us accordingly. A new survey of shoppers at popular Web sites revealed increases in satisfaction—up 7% to 79 on a 100-point scale—with every leading retailer, the highest it has been in its five-year history.* So while increases in online shopping might be partially attributed to tough economic times, or sporadic inclement weather, let us not forget that online shoppers are happier than ever before with their experience.

For retailers, the online shopping experience is key to competitive differentiation and will continue to be a focal point in 2010. Research finds that shoppers who are highly satisfied are 65% more likely to purchase online, 44% more likely to purchase offline, 70% more likely to recommend, and 49% more likely to return than a dissatisfied shopper.* Multi-channel retailers know they must step up their game–focusing not just on online or offline, but holistically addressing the customer experience across both the online and offline experiences, transcending organizational barriers to build a truly channel-agnostic consumer relationship. Top retailers will be gathering next week at the NRF Big Show in New York to discuss this very issue. I’m very excited that RichRelevance will be contributing to this industry discussion of multi-channel convergence and customer engagement through participation in the NRF innovation showcase, a special session and several special events.

Build Multi-Channel Convergence: In partnership with Paco Underhill, CEO of Envirosell and author of “Why We Buy,” I’ll be presenting a session that highlights the challenges inherent to multi-channel today—and what you can do as a retailer to optimize your merchandising and marketing strategies.

Engage Your Customer: Visit us at the Innovation Station, and get to know Fashionista, a new online shopping experience for apparel brands and mass-market retailers that marries the benefits of the fitting room with the convenience of the web. Shoppers can virtually “model” clothing via webcam, instantly change into recommended pieces, and immediately share their favorite looks with friends via Facebook.

Share Best Practices: On Monday afternoon, pick up your free copy of Why We Buy and have it autographed by Paco Underhill himself at the RichRelevance booth (Booth 2267) between 4:15-5:00 p.m. Learn more about the joint offering RichRelevance and Envirosell are developing to help multi-channel retailers improve the customer experience cross-channels.

Make 2010 the year that you cultivate satisfaction with the multi-channel shopper—one that navigates all retail channels fluidly, growing more loyal with each experience.

See you at the Big Show!

*ForeSee Results’ Annual E-Retail Satisfaction Index, 12/09

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This post was written by David Selinger

ABOUT David Selinger
David is CEO and founder of RichRelevance. He first garnered international recognition as an expert in the field of eCommerce data analytics and personalization with his groundbreaking work leading the research and development arm of Amazon’s Data Mining and Personalization team. In that role, David increased Amazon’s annual profit by over $50 million (25% of US profit, 2003) setting the industry standard for recommendation services. To view David's full profile, click here.
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