It used to be a simple challenge for traditional ‘bricks and mortar’ retailers – how to adapt an existing retail store business model into a fast changing online experience. Only 3 years ago I was battling with the challenge on how to adapt a retail business too omni-channel – many retailers have seen their e-commerce contribution moving from 5% of total revenue to as much as 30% since 2010. How would we ride the wave, stay relevant and deliver the rewards?
The same businesses have had to drill right down into how their consumers browse and buy. In 2014 we use a mix of laptop / desktop, smartphone and tablet to interact with a retailer – often all 3 on the same day. Our research showed peaks and troughs through the day – high smartphone browsing in the morning (on the way to work, on the tube, bus), then moving to laptop browsing during the day (particularly lunchtime, and then a surge in tablet and smartphone use in the evening.
Very, the online department store (formerly Littlewoods in the ‘old world’) estimate that Sunday 30 November between 7-11pm will be the peak time for online ordering in 2014 – and that most of this will come from smartphones as we sit on our sofas watching X Factor. In the US Cyber Monday has been a retail phenomenon for some time (the Monday after Thanksgiving)– and in the UK we are closely following this trend.