Page 6 - AeM_May_2014

RESEARCH, ANALYSIS & TRENDS

SoLoMo interactions

influence 36 cents of

every dollar spent in

the retail store,

Deloitte study reveals

A new type of Internet access (mobile), a converted fo- Digital shoppers bring higher store traffic, conver-
cus (local), and greater involvement of the Internet in sion and spending
everyday life (social), brought new movement to the
Internet market, which is captured with the neologism Consumers using a device during their shopping jour-
"SoLoMo". Each of the three keywords it holds – social, ney convert at a 40% higher rate than those who do
local, mobile -represents an online area on its own, but not use a device and a dramatic impact on traffic,
their coalescence and interaction make them effective. spending and loyalty from digital shoppers has been
discovered by Deloitte as well:
The growing popularity of mobile Internet technology is
pivotal and induces the fundamental changes it brings,  84% of store visitors use their devices before or
as Deloitte’s study "The New Digital Divide" confirms. during a shopping trip;
This first-of-its-kind research quantifies the extent to
which consumers' use of desktop and laptop computers,  22% of consumers spend more as a result of using
tablets, and smartphones influences brick-and-mortar digital; just over half of these shoppers report
store sales. Further, it reveals that digital devices’ influ- spending at least 25% more than they had intend-
ence on in-store purchase behavior is growing much ed;
faster than anyone could have anticipated.  75% of respondents said product information found
on social channels influenced their shopping be-
According to Deloitte’s research, digital interactions in- havior and enhanced loyalty.
fluence 36 cents of every dollar spent in the retail store,
or approximately $1.1 trillion, and this number is even "Each interaction is an opportunity for a retailer to en-
expected to grow to 50% by the end of 2014. hance the customer experience and tell a brand story,"
said Jeff Simpson, director, Deloitte Consulting LLP
Due to this acceleration, digital channels actually can’t and co-author of the study. "However, retailers often
be considered a separate or distinct business any long- measure success solely on how many widgets they
er, but fundamental to the entire shopping experience in sell through their web or mobile sites. For example,
and out of the store. retailers might regard online shopping cart abandon-

6 Asian eMarketing May 2014 - Multichannel Marketing— SoLoMo