Kronos: Consumers expect seamless omni-channel shopping this season
Chelmsford, Mass. — It only take an average of 2.2 negative experiences for Americans to stop purchasing from a retail brand — across any channel, according to a new survey commissioned by Kronos Inc. Underscoring the urgency of a seamless omni-channel experience, 68% of Americans agree that a negative shopping experience within a single channel negatively impacts their perception across all shopping channels including physical stores, online, mobile, phone centers, and catalog.
The survey, titled “Holiday 2013: Top Trends to Watch,” conducted online by Harris Interactive, confirms growing evidence that shoppers will make purchasing decisions leveraging multiple channels this season. Sixty-six percent of respondents said that they will order online and ship to home or offices – and 25% noted that they will order online and pick up at stores.
“The margin of error when it comes to customer satisfaction and brand loyalty is continually shrinking and the new survey puts some hard numbers around this disposition in retail,” said Liz Moughan, director, retail and hospitality practice group, Kronos The combination of the government shutdown, a Millennial population to appease, and the need to get a handle on omni-channel could make this holiday season a difficult one for many retailers. Fortunately, many have embraced the power of omni-channel and are well positioned to capture the wallets of consumers not just during the holiday season, but keep shoppers loyal to their brand well into the future.”
In other survey findings:
- Regarding factors that contribute to positive shopping experiences across all channels, the top three as identified by American consumers as being at least somewhat important are: inventory availability (98%); speed of delivery and pick up (96%); and sales associate interaction (90%).
- Seventy-nine percent of Americans who shop in stores believe that interaction with knowledgeable, friendly sales associates while shopping, picking up an online order, or even returning an item, are at least somewhat likely to make them purchase an additional item, beyond their original intended reason for going to the store.
- Millennials are especially influenced by negative experiences; 78% of Minnenial men and 80% of Millenial women are likely to completely stop shopping at a retailer as a result of a negative shopping experience across any channel.
Private equity firm Brentwood Associates to acquire Allen Edmonds
Port Washington, Wis. — Upscale men’s shoemaker Allen Edmonds Corp. has agreed to be acquired by an affiliate of Brentwood Associates, a Los Angeles based private equity firm. Terms of the transaction weren’t immediately disclosed.
Brentwood will take over the company from Minneapolis-based Goldner Hawn Johnson & Morrison, which bought Allen Edmonds in 2006.
Allen Edmonds will remain an independent private company, according to its president and CEO, Paul Grangaard. He said the company will now have greater access to investment capital as a result of the ownership.
Grangaard also announced that the existing leadership team will remain with the company. He emphasized that Allen Edmonds remains completely committed to its "Made in USA" manufacturing strategy and its expanding Port Washington, Wis. production operation.
"The Allen Edmonds brand fits perfectly with our strategy of investing in category-defining brands with exceptional customer loyalty," said Steve Moore, Partner of Brentwood Associates, who leads the investment with Roger Goddu, another Brentwood partner. "Paul and his leadership team have been excellent stewards of the company over the past five years and have proven their ability to grow and strengthen the business even in difficult times. We are confident that tremendous growth lies ahead for the brand in both the U.S. and key international markets."
Allen Edmonds products are available at premier stores worldwide, including 45 company-owned Allen Edmonds stores across the United States.
Loft to open in Vancouver
Vancouver — Loft, a division of Ann Inc., will open its first Canadian West Coast location, at The Village at Park Royal, in Vancouver, on Nov. 15.
Since its arrival in Canada last year, Loft has opened five locations across Ontario and introduced international shipping.
"We’re thrilled to meet our new West Coast clients and look forward to collaborating, sharing advice and learning even more about Vancouver women and their unique style," said Austyn Zung, creative director of design, Loft. "The Vancouver store solidifies our commitment to Canada and we look forward to being in this exciting market."
The new 4,823-sq.-ft. store is situated in the heart of the Vancouver shopping center.