Today’s retail landscape is rapidly evolving. With access to anytime/anywhere information via their smartphones, shoppers have unprecedented visibility into product and pricing information. This infographic outlines the 3 key reasons why online retail price intelligence matters for every retailer - whether you sell online or not.
Global shoppers' intent to buy food and beverages online increased 44 per cent in the past two years, according to a new study from research group Nielsen.
More than one-quarter (26%) of global respondents taking part in a recent Nielsen Global Survey stated that they planned to purchase food and drinks products by way of a computer, smartphone, tablet or other electronic device, in the next three to six months. In addition to this, 61 per cent of respondents said they have used the Internet for grocery shopping research.
The Nielsen Q1 2012 Global Survey surveyed more than 28,000 Internet users in 56 countries; its findings in the are of online food shopping included:
* 61 per cent of global respondents said they had used the Internet for grocery shopping research in the past month e.g. price checks, product reviews.
* 45 per cent used the Internet to get information about a product.
* 43 per cent searched for deals.
* 33 per cent had read a grocer's promotional brochure.
* 33 per cent searched for coupons.
* 26 per cent viewed a manufacturer's website.
* 18 per cent provided feedback through social media.
* 11 per cent filled out a digital shopping list.
Those taking part in the survey from countries in Asia-Pacific said they used the Internet mostly to conduct research, compare prices and provide feedback through social media. Latin American respondents searched for deals and looked at manufacturers' websites. Meanwhile, more North Americans looked for coupons online (43 per cent) than those in any other region.
John Burbank, president of strategic initiatives at Nielsen says that online shopping delivers key attributes shoppers demand, such as convenience, value and choice. "However, the Internet and more specifically eCommerce, will be successful to varying degrees of impact on consumer-packaged goods depending on the product category," says Burbank. "For these CPG categories, shoppers are more likely to adopt a multichannel approach, where online shopping becomes a supplement to traditional brick-and-mortar retailing."
The Nielsen Global Survey of Digital's Influence on Grocery Shopping was conducted in February.
© Profitero 2012
Pricing intelligence company Profitero works with retailers and manufacturers to help them increase sales and maximise their profits by using competitor price, promotions and stock information at scale. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email firstname.lastname@example.org.