Retailers trying to keep pace with evolving consumer behavior shouldn’t necessarily worry that offering an additional shopping channel will cannibalize sales from existing channels, according to results from a survey from PricewaterhouseCoopers (PwC). The study finds 58% of online shoppers surveyed across 11 markets (56% in the US) said they have spent more with their favorite retailer since they started shopping across multiple channels. But the results aren’t all positive: for retailers to profit, they need to be a consumer favorite. Indeed, the proportion of shoppers saying they spend more when they use multiple channels drops to 52% when considering their second favorite retailer, and to 48% when thinking of their third favorite retailer. So while multichannel favorites might see growth in online and physical sales, those not at the top won’t necessarily benefit so much from offering new channels. Read the rest at MarketingCharts.
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