By Danny French, General Manager of Customer, Kepler Analytics
In today’s highly competitive and rapidly evolving retail landscape, understanding the shopper path-to-purchase in stores is more crucial than ever. That’s because physical stores still account for the vast majority of sales in the U.S., despite the growing prevalence of e-commerce. In fact, according to data from the U.S. Department of Commerce, nearly 85% of all retail sales can be attributed to physical stores.
The in-store path-to-purchase begins when a potential customer is within 150 feet of a store and continues all-the-way until a purchase is made. The success of this journey for both the shopper and retailer involves a complex interplay of factors that influence the buying decision. For retailers, analyzing and understanding this path offers the key to unlocking enhanced customer experiences, optimizing store performance, and, ultimately, driving growth in sales.
By delving deep into each phase of the path-to-purchase, retailers can identify opportunities to enhance the shopping experience, engage customers more effectively and eliminate barriers to purchase. With the right insights and technologies, understanding the customer path-to-purchase becomes not just a strategy for growth, but a cornerstone of competitive advantage in the crowded and ever-changing retail market.
This whitepaper will examine how retailers have unlocked the next frontier of growth within their stores by moving from store-level shopper insights, which often lack actionable depth, to granular shopper insights at a merchandise zone/department level.