By Claire Darley, Head of Indirect Sales, O2: UK retailers are missing out on £12 billion of potential sales by failing to engage consumers through digital channels. That's according to a new study by retail analysts Conlumino which found that retailers are struggling to harness technologies that enhance customer experiences inside and outside the store.
The survey also revealed that nine out of ten consumers are frustrated by retailers' digital offerings, even though over 50 per cent of all sales are now influenced by digital channels such as mobile apps and social media, in addition to retailers' own websites, highlighting the need for retailers to improve their digital know-how or risk missing out.
Also, 93 per cent of consumers aren't satisfied with their current digital shopping experience and their frustrations are causing them to spend less or take their business elsewhere, resulting in a potential £12 billion in lost sales.
The research also shows a disconnect between the digital experiences retailers think they are delivering and the reality, as nearly three quarters of consumers do not feel they get a seamless experience even though 46 per cent of retailers think they do a good job of joining up the customer experience through digital and traditional channels. Only 40 per cent of retailers recognise the potential benefits, and over a fifth have trouble integrating new channels like social media and apps, with less than a third using social media tools to engage their customers.
Digital technology offers retailers new opportunities but as this study reveals not enough is being done to harness the benefits it can bring. In April 2013, O2 announced a new approach to help British businesses tailor services to better suit their customers' digital needs - Joined Up Customer. Contact me to find out more about the opportunities digital technology can offer.