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May 25, 2016, 4:20 PM EDT
A Split Screen
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Forbes Insights
Abstract:
About this research
This report by Forbes Insights, in association with Synchrony Financial, is based on a survey of 250 retail executives, with almost half being CEOs or business owners. They came from companies with sales of at least $100 million. Sixty-four percent had revenues of more than $500 million, and 19% had sales of more than $10 billion. They represented all major sectors of big-purchase retailing, including appliances and electronics, automotive, home furnishings, and outdoor and sports equipment.
This report by Forbes Insights, in association with Synchrony Financial, is based on a survey of 250 retail executives, with almost half being CEOs or business owners. They came from companies with sales of at least $100 million. Sixty-four percent had revenues of more than $500 million, and 19% had sales of more than $10 billion. They represented all major sectors of big-purchase retailing, including appliances and electronics, automotive, home furnishings, and outdoor and sports equipment.
Table of Contents
Online Information and a Human Touch
Customers prefer to leverage online technology and in-store visits for major purchases. The largest percentage of retailers surveyed by Forbes Insights say that their customers, when shopping for major purchases, do research online and buy in stores, according to a Forbes Insights and Synchrony Financial survey of 250 retailers representing major sectors of big-purchase retailing (including appliances and electronics, automotive, home furnishings, and outdoor and sports equipment). In other words, they are looking for an omnichannel shopping experience. “Providing customers with technology allowing them to research price, features and specifications online, and combining this with a great in-store experience, is critical to closing sales,” says Toni White, CMO of Synchrony Financial.
This paper analyzes how retailers feel about their customers’ shopping attitudes and preferences, discusses retailers’ readiness for the omnichannel shopping environment and looks at ways to increase their competitive advantage.
