Retailer benefits
While be Retail Social is firmly focused on the customer experience the resultant benefits to the retailer are numerous and address many of their most fundamental business challenges – and potentially missed opportunities.
Through tangible insights and reporting, aligned between be Retail Social and Clients, through AB testing and live operation, we summarise a number of the benefits, not limited to but including (as wholly expected and developed against) as follows:
Fewer Returns
We report and validate from AB testing with real customers, that the combined benefit of ‘seeing items worn by your shape and skin tone’, as you or who you are shopping for, in an engaging and interactive manner, even shared with friends and family for their all-important feedback, both increases net sales and reduce returns – a key burden and focus point for many online retailers.
Average Order Value
The customer’s ability to quickly swipe through and see themselves in a range of colour, size and style options leads to increased average order value as customers are able to ‘try before they buy’. Additionally, upsell and accessory opportunities can be offered to the customer without interrupting their experience.
Consideration & Conversion
Through the social sharing capability of the platform customers can quickly get the opinion of their most trusted advisors or a virtual style assistant. This provides an endorsement of their decision, leading to improved conversion.
Acquisition & Retention
Customer engagement is a major feature of the platform and this helps to provide a more ‘sticky’ experience. Social sharing generates ‘word of mouth’ amplification of the platform that will in turn drive more visitors to retailers’ websites.
Enhanced D2C Strategy
The challenges presented by the pandemic have caused retailers to assess their Direct To Consumer (D2C) strategy. The fitting room is viewed as being a ‘key differentiator’ in the struggle between balancing a clicks and bricks offer. be Retail Social’s platform is a major leap forward for retailers wishing to enhance their D2C strategy and one which works with, and connects to, the real life experience.
Integrate omni-channel
Balancing the clicks and the bricks is a huge challenge. The beThere functionality of the platform allows retailers to connect and integrate their online and offline customer experience to benefit both and offer a true omnichannel experience.
Abandoned Baskets
Dynamic images, simple, intuitive interaction and hyper-personalization ensures that for customers using the platform there is a compelling case for making a purchase. The social sharing aspect both speeds and re-enforces decision making, leading to less abandoned baskets through indecision or fear of making a poor decision.
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“This will be a seismic change for shopping”
Global clothing brand
Returns
With retailers experiencing between 15 and 40% returns* on their online sales any improvement in this area brings great bottom line benefit. The hyper-personalization capability of the platform allows digital customers to effectively ‘try before they buy’, resulting in less mismatches of perception and reality, more ‘right first time’ sales and less returns – which in turn provides enormous positives for the retailer in terms of cost savings and environmental performance.
source: David Sobie (Co-Founder & CEO of Happy Returns)
ESG mandates from the Board
Improving Environmental, Social and Governance performance is a major concern for all businesses but particularly the retail clothing industry. The benefits of the platform all positively contribute to improved ESG performance for retailers, be that the lower rate of returns or the inclusiveness that hyper-personalization brings
Performance Marketing Mandates
The marketing budget is always a difficult topic for retailers. Which tactics and channels are performing and what evidence do we have to support that? The platform can be seen as a true performance marketing tool, providing hard evidence on sales performance (as well as a myriad of other metrics) and funded through incremental growth. The platform can also provide data-led insights that will inform strategy going forward regarding intent, trends and customer behaviour.