1、WHO WINS WHERE Lessons for Digital Brands and Traditional Retailers AVIONOS 2020 B2C BUYER REPORT AVIONOS 2020 B2C BUYER REPORT 2 When we launched this survey back in late February, we couldnt have imagined how much daily life would change within a few short weeks. We watched shopping malls and offi
2、ce towers empty almost overnight as stores shuttered and workforces shifted remote. Weve navigated our own transition to remote work as a company, with all of its ups and downs and unexpected childcare needs. Amid the chaos, weve been heartened to see our retail partners adapt rapidly to the sudden
3、shock. Whether its by transitioning to curbside pickup at brick-and-mortar locations or by expanding contact centers to handle a flood of customer service calls, theyve responded flexibly to new and unexpected challenges. Retailers of all types, including both digitally native brands and traditional
4、 retailers, are united in facing this crisis together. In many ways the pandemic has accelerated changes that were already underway. Before COVID-19, it was good practice to provide a streamlined experience across all channels, to offer robust customer service and to prepare for uncertainty by keepi
5、ng processes agile and flexible. Our survey results highlighted the importance of fast OPENING LETTER RETAIL AND COVID-19 shipping and a seamless online experience, even before the pandemic shifted demand online. Now, its a must. As the initial shock has worn off and businesses adjust to the “new no
6、rmal,” there will be opportunities to re-tool, re-skill and re-focus around the new retail environment. Examine engagement data to identify friction points in your digital experiences, and prioritize bug fixes and process improvements that will have the most impact. Before, you were fighting for you
7、r customers extra dollars; now, youre fighting for every dollar, which makes a standout experience even more important in the long term. Restrictions due to COVID-19 will define the “new normal” for a while, but people will eventually return to their offices and stores will reopen. Weve chosen to ke
8、ep the text of this report largely as it was written before the pandemic took hold. But even as we address the short-term crisis, the long- term roadmap for retail growth remains the same. The future is just coming at us a bit faster. Scott E. Webb Avionos CEO AVIONOS 2020 B2C BUYER REPORT 3 The ris
9、e of online shopping and eCommerce has transformed the retail landscape. Traditional retailers such as Target and Home Depot have built on the success of their brick-and-mortar stores by creating eCommerce sites and mobile apps that replicate the in-store experience. By contrast, digitally native br
10、ands like Casper and Warby Parker launched their businesses online, building customer relationships digitally before starting to build brick-and- mortar showrooms. Today, these two types of companies digital natives and traditional retailers often compete for market share and customer loyalty. But t
11、heyre playing by very different rules. For many digitally native brands, the game plan is to acquire customers quickly in hopes of a highly valued acquisition by a traditional retailer e.g., P&Gs recent acquisition of womens shaving and personal care brand, Billie. This means digitally native brands
12、 priorities and strategies may be different from established retailers that plan on remaining independent companies and growing organically. For example, new brands drive growth by spending an outsized amount on advertising to acquire new customers, while focusing relatively little on retention and
13、loyalty. They arent playing the long game. INTRODUCTION The opposite can be said for traditional retailers. Digitally native brands have much to learn from the tried-and-true brands who precede them particularly when it comes to becoming an everyday, local presence in their customers lives. However,
14、 traditional retailers need to adopt some of the tactics of digitally native brands to continue to attract new, convenience-sensitive customers who expect seamless experiences both online and offline. For both types of retail companies, developing multiple strong channels can increase resiliency and
15、 help them respond flexibly to uncertainty in the market. In this survey of 1,250 U.S. online shoppers, we tease out the ways traditional retailers and digitally native brands can better serve customer needs and what they can learn from each other. AVIONOS 2020 B2C BUYER REPORT 4 Defining digitally
16、native brands vs. traditional retailers Digitally native brands usually focus on a single product or product category e.g., mattresses for Casper, eyeglasses for Warby Parker, toothbrushes for Quip, etc. and sell direct to the consumer, instead of through established retailers. While some digitally
17、native retailers may eventually establish brick-and-mortar stores, most primarily sell online or via a mobile app, making fast shipping and a streamlined online experience key to their value propositions. Traditional retailers are established companies that sell products from multiple brands, like T
18、arget, Macys and Home Depot. They have instant gratification built into their business models, thanks to their large networks of brick- and-mortar stores. These enable customers to shop in person in their local communities and take home purchases in real time, or make orders for in-store or curbside
19、 pickup, without waiting for shipping. Digitally native brandsTraditional retailers AVIONOS 2020 B2C BUYER REPORT 5 KEY FINDINGS Seventy-six percent of respondents chose fast shipping as a top characteristic of a positive experience with an online brand vs. 62% in 2019. This shift signals the increa
20、sed importance of convenience, streamlining and speed to retail customers. When shopping online, 36% of customers expect personalized product recommendations on the website homepage, up from 28% in 2019. Convenience is not optional Customers expect more sophisticated personalization Among customers
21、who have shopped at digitally native brands brick-and-mortar stores, 75% prefer the in-store experience over traditional retailers in-store experience. Digitally native brands deliver great in-store experiences Both in-store and online, traditional retailers score higher on relationship-building and
22、 loyalty, while digitally native brands score better on convenience measures like fast checkout. Traditional retailers win on relationship-building AVIONOS 2020 B2C BUYER REPORT 6 NO MATTER WHERE THEY SHOP, CUSTOMERS WANT THE SAME THINGS AVIONOS 2020 B2C BUYER REPORT 7 It may seem like theres a worl
23、d of difference between digitally native brands and traditional retailers, but many customers dont see it that way. When customers were asked to identify their favorite things about shopping online with both types of companies, four of the top five responses were identical. SIMPLE AND EASY SHOPPING
24、EXPERIENCES TOP THE LIST Digitally native brands Top 5 things consumers like about shopping online at digitally native brands compared to traditional retailers Traditional retailers 70%52% 56%50% 32%36% 22%26% 19%23% Simple and easy online/mobile shopping experience Simple and easy online/mobile sho
25、pping experience Fast, free shippingFast, free shipping Personalized product, size and/or color recommendations Personalized product, size and/or color recommendations Fun unboxing experienceProducts are consistently high quality Products are consistently high quality Talking about products with fri
26、ends or on social media AVIONOS 2020 B2C BUYER REPORT 8 Digitally native brands are known for advertising on social media platforms like Facebook and Instagram. For example, direct-to-consumer shapewear company Shapermint spends 80% of its monthly marketing budget on those two sites alone. However,
27、it appears traditional retailers are winning the social media battle. Nearly a quarter of customers (23%) say that talking about products with friends or on social media is one of their favorite things about shopping online with traditional retailers. Only 17% say the same for digitally native brand
28、s. Unboxing videos in which someone unpacks a much- anticipated consumer product are a long-standing social media phenomenon. Fun unboxing experiences ranked high on the list of favorite experiences for both digitally native brands (22%) and traditional retailers (21%), though they only made the top
29、 five for the former. ON SOCIAL MEDIA, TRADITIONAL RETAILERS HAVE THE ADVANTAGE INSIGHT 23% of consumers say that talking about products with friends or on social media is one of their favorite things about shopping online with traditional retailers AVIONOS 2020 B2C BUYER REPORT 9 ONLINE OR IN STORE
30、, CONVENIENCE IS KING AVIONOS 2020 B2C BUYER REPORT 10 Whether theyre shopping online or at a brick-and-mortar store, respondents overwhelmingly want experiences that are fast and easy. They care more about convenience factors like fast shipping (76%) and checkout (60%) than they do features like pl
31、easant in-store ambiance (10%) or technologies like augmented reality (12%). Its important that retail companies deliver convenience across both in- person and digital channels, since they may need to lean more into one or the other depending on market demands and customer needs. For online shopping
32、, the preference toward convenience intensified year over year. The proportion of respondents picking “fast shipping speed” as a characteristic of a positive experience increased by 14 percentage points compared to 2019. In brick-and-mortar stores, finding products quickly and easily, and checking o
33、ut fast were the top priorities. THE IMPORTANCE OF CONVENIENCE IS GROWING INSIGHT 76% of consumers say fast shipping speed is part of a positive experience with an online brand or retailer AVIONOS 2020 B2C BUYER REPORT 11 Characteristics in 2019 Top 3 characteristics of a positive experience with an
34、 online brand or retailer Top 3 characteristics of a positive experience with a brick-and-mortar store in 2020 Characteristics in 2020 62% 60% 56%54% 76% 54%60% 53%55% Fast shipping speed Fast checkout Easy to find productsWide range of stock available Fast shipping speed Easy delivery processEasy d
35、elivery process Having ample information about products (e.g., product specifications, images, videos, etc.) Easy/reasonable returns policy 1920 AVIONOS 2020 B2C BUYER REPORT 12 Just because customers value convenience doesnt mean that brands or retailers can skimp on other aspects of the experience
36、. For example, while having friendly/helpful store employees didnt crack the top three for positive experiences, 67% of respondents said unfriendly or unhelpful store employees would make them unlikely to return to a brick-and-mortar store the top reason picked by a 10-point margin. Brands and retai
37、lers still need to get the basics right. However, one key takeaway from this data stands out: Convenience is not optional. Any retailer or brand lagging behind on fast shipping and checkout must start catching up now if they want to retain customers. If in-store and online experiences arent streamli
38、ned and easy, no amount of other perks and benefits will keep customers coming back for the long term. IF THEY WANT TO STAY COMPETITIVE, RETAILERS AND BRANDS CANT CUT CORNERS INSIGHT 67% of respondents said unfriendly or unhelpful store employees would make them unlikely to return to a brick-and- mo
39、rtar store AVIONOS 2020 B2C BUYER REPORT 13 DIGITALLY NATIVE BRANDS WIN ON CONVENIENCE BUT TRADITIONAL RETAILERS HAVE LOYALTY AVIONOS 2020 B2C BUYER REPORT 14 While customers mostly want the same things from digitally native brands and traditional retailers, the two groups deliver different parts of
40、 the package. Both in-store and online, digitally native brands are winning on many convenience metrics, while traditional retailers scored higher on relationship-building and loyalty. Some of these differences are attributable to differences between traditional retailers and digitally native brands
41、 priorities and strategies. Because digitally native brands want to grow fast, they invest heavily in marketing to acquire new customers and in experiences that enable those customers to make their first transactions seamlessly. Lacking the loyal customer base of traditional retailers, digitally nat
42、ive brands must constantly acquire and re- acquire customers to maintain their growth. DIFFERENT BUSINESS MODELS LEAD TO DIFFERENT STRENGTHS “Both in-store and online, digitally native brands are winning on many convenience metrics” AVIONOS 2020 B2C BUYER REPORT 15 Top 5 experiences that digitally n
43、ative brands or traditional retailers do better Factor by which customers preferred digitally native brands Factor by which customers preferred traditional retailers Fast checkout in storesEffective loyalty programs Streamlined online shopping experienceBuilding long-lasting customer relationships N
44、ew technologies to enhance my in-store experience In-store services (e.g. free hemming) Easy to find products in storesHelpful customer service for online purchases Fast, free shippingComfortable seating or areas to rest in-store 1.7x1.6x 1.6x1.3x 1.4x1.2x 1.4x1.3x 1.3x1.2x AVIONOS 2020 B2C BUYER RE
45、PORT 16 However, a focus on ongoing customer acquisition doesnt mean digitally native brands dont need to build deep customer relationships. In the long term, a lack of geographic accessibility will hold them back from developing those relationships. To become an everyday part of their customers liv
46、es, digitally native brands will eventually need the physical, local presence traditional retailers already have. The proportion of customers who have shopped at digitally native brands brick-and-mortar stores is relatively small and concentrated in urban areas. To grow their relationships with exis
47、ting customers, digitally native brands may want to add brick-and-mortar expansion to their roadmaps. DIGITALLY NATIVE BRANDS WILL BENEFIT FROM MORE BRICK AND MORTAR Shopping habits of respondents who live in urban areas 57% of respondents who have shopped in a digitally native brands brick-and- mor
48、tar store are from urban areas 47% of respondents who have purchased from a digitally native brand are from urban areas AVIONOS 2020 B2C BUYER REPORT 17 Comparing these rankings to customers favorite things about shopping online (discussed in Section 1) reveals some useful insights around traditiona
49、l retailers as well. While long-lasting customer relationships are important for any brand, overall traditional retailers score highest on aspects of experience that customers say are less important. For example, traditional retailers handily beat digitally native brands at loyalty programs but earning loyalty rewards on purchases only came in ninth out of 12 options for what customers most love about shopping online at traditional retailers. This signals that traditional retailers investments in both online and offline experiences could b
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