The number of households that shop both in-store and online are growing at a rate of 10% year-over-year and online household penetration is now 6.4%, a 60% spike from pre-pandemic levels.
Those are top findings from a Symphony RetailAI research report that analyzed nearly 600 million shopper transactions.
The research revealed that online grocery shoppers can add nearly 2% in additional total revenue for retailers, according to a press release on the findings.
The research also revealed customers are more loyal than in-store-only counterparts. And that those who adopt omnichannel shopping habits generate incremental spend but their level of churn can be huge if retailers don’t provide an excellent customer experience from the first visit.
Symphony RetailAI also found customers who adopt omnichannel increase both shopping frequency and basket size, generating an incremental spend of 16%.
Inversely, online churn is impactful as well, as 40% of customers abandon online channels after one purchase and even if some of them return to the store, they spend almost 3% less than before, suggesting they begin shopping elsewhere.
«The rate of digital adoption was essentially accelerated by a decade during the pandemic,» Laetitia Berthier, head of client management, Europe, Symphony RetailAI, said in the release. «The growth today is less hyperbolic than a year ago, but the rising share of total business in e-commerce strongly points to the need to understand the value and the changing needs of the online customer. Retailers really have to tailor the online experience to their needs that are evolving quickly and very different from in-store.»
