retailers can take the showrooming threat as an opportunity to identify and improve deficiencies.
San Francisco, CA (PRWEB) February 18, 2014
What does showrooming mean for the future of retail? It stems from technology changes, and consumer behavior follows suit. Showrooming has become increasingly prevalent as consumers become more tech savvy. WisePricer has consolidated data from several studies on showrooming and announced today the release of an infographic highlighting what retailers need to know about this growing trend.
Showrooming, the practice of consumers viewing a product in-store but ordering the same product online at a lower price, is a growing concern for brick-and-mortar retailers. The study found that 1 in 5 consumers have showroomed, and a staggering 96% of smartphone owners indicated that they plan to showroom in the future. “What does this mean for retailers? The rules have changed and they must adapt to stay relevant to consumers,” said Arie Shpanya, CEO of WisePricer.
As for how retailers should react, of those consumers surveyed, price-matching was the top reason that would dissuade them from showrooming. However, countering this trend by simply slashing prices is not a sustainable solution and will likely be a losing battle. WisePricer offers strategies to create value for customers and to optimize revenues. There is a way to turn lemons into lemonade - retailers can take the showrooming threat as an opportunity to identify and improve deficiencies. It doesn’t have to mean the end of traditional brick-and-mortar retail.
To view the full infographic, visit http://www.wisepricer.com/infographic-showrooming
WisePricer is a full-featured pricing and merchandising platform that monitors, analyzes and reprices retail products in real-time. With automated repricing and easy sync, WisePricer enables retailers to boost profit margins and revenue, price with confidence, and improve merchandising through powering the development of a sound pricing strategy.
For more information on WisePricer, please visit wisepricer.com