The $460 Billion + Opportunity: More an 60 Percent of U.S. Tech-Savvy Shoppers Will Choose Stores Based on Ability to Offer Online Services
21/11/2013
Tech Savvy Shoppers
SAN JOSE CA, November 21, 2013: Recent Cisco research found that U.S. retailers have the ability to grow profits by more than $460 billion over the next 10 years by leveraging the Internet of Everything (IoE), and today a new study shows retailers how to begin to capture that value. According to a Zogby Analytics poll commissioned by Cisco, an emerging class of "tech-savvy shoppers" overwhelmingly looks for ways to use smartphones and the Internet to save time and money while shopping in stores.
These tech-savvy shoppers represent nearly half of all Americans. They find it valuable when stores offer free Wi-Fi, apps for smartphones, the ability to order out-of-stock items while in a store and digital couponing. Most important, these shoppers are planning to make purchasing decisions based on the advanced online services offered by retailers.
More than 60 percent of tech-savvy shoppers said that they would be more likely to visit or shop at a store that offers smartphone apps and other in-store online services. And these shoppers have the money to spend. Nearly 30 percent of tech-savvy shoppers live in households that earned more than $100,000 per year more than double the rate of all other shoppers.
"Consumers want the best of both worlds this holiday season they want the social aspects of in-store shopping coupled with the benefits enabled by the Internet of Everything," said Blair Christie, Cisco senior vice president and chief marketing officer. "This study shows that retailers who make investments in advanced technologies will be rewarded by tech-savvy shoppers with a larger discretionary income as well as build increased brand loyalty with young shoppers."
18-to-24-Year-Olds: The Future of Tech-Savvy Shopping
According to the study, the most tech-savvy of all in-store shoppers are the first generation of smartphone natives: 18-to-24-year-olds. The Zogby poll found that more than 80 percent of 18-to-24-year-olds own a smartphone, yet more than 75 percent plan on doing the majority of their holiday shopping at retail stores.
These consumers in particular want to combine the power of their smartphones with their desire to shop in stores. More than 95 percent found it valuable to receive holiday discounts/coupons via text or smartphone apps, and to use their smartphones to quickly check prices and order out-of-stock items with free delivery when shopping in a physical store.
However, retailers are currently missing out on an important way to connect with this coveted demographic, as only 29 percent of young consumers have used a retailers app on their smartphone. So, why such a small adoption rate from these uber-techies? Almost 40 percent reported that they didnt even know that retailer smartphone apps existed. This implies that retailers have a significant opportunity to increase awareness of or create apps, mobile websites, and other smartphone offerings and to connect with shoppers through technology while they are in the store.
Black Friday/Cyber Monday Attitudes
Key findings regarding Black Friday and Cyber Monday include:
Forty-eight percent plan to shop on Black Friday, and 51 percent plan to shop on Cyber Monday.
Seventy percent of those who shop on Black Friday will do most of that shopping in-store.
More than one-third of shoppers will start their holiday shopping on Black Friday or Cyber Monday.
Sixty-four percent would find it valuable to reserve products online at special Black Friday prices based on loyalty points/past purchases with the store.
Growing Role of the Smartphone and Other Retail IoE and Tech Trends
Other key insights about smartphone use and future retail IoE and tech trends include:
Twenty-eight percent of all respondents would find it valuable if the store they were shopping in had smart mirrors that based on what they were trying on could offer complementary products and help them visualize them.
One in three shoppers is interested in retail programs that could use their profile and shopping history to alert their smartphone when they are near items that they may like in the store.
More than 40 percent would use a smartphone app to secure a checkout appointment time and bypass waiting at a retail store cash register line on Black Friday or throughout the holiday season.
Profile of the Tech-Savvy Shopper:
Age:
Income:
76% are younger than 49
43% are 18 to 34
39% earn more than $75K per year
29% earn more than $100K per year
Marital Status:
Other:
57% are married
46% have children under 17
38% ONLY have a mobile phone
59% are active social networkers
The Internet of Everything is the networked connection of people, process, data, and things. Cisco released an IoE Value at Stake White Paper earlier this year that found that global businesses could pursue as much as $14.4 trillion over the next decade by leveraging IoE to improve operations and customer service. The retail industry has the ability to grow profits by more than $1.5 trillion $461 billion in the United States alone over the next 10 years as "everything" within retail operations comes online. To find out more about this research and the IoE, please visit internetofeverything.com.
The Zogby Analytics interactive survey was commissioned by Cisco. The survey of 1,004 adults, conducted from Oct. 17 to 18, has a margin of error of +/- 3.2 percent.
About Cisco Systems:
Cisco (NASDAQ: CSCO) is the worldwide leader in IT that helps companies seize the opportunities of tomorrow by proving that amazing things can happen when you connect the previously unconnected. For ongoing news please go to htt
LINK: | http://newsroom.cisco.com/press-release-content?type=webcontent&articl... |
See more stories from cisco |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
21/05/2024
Hollyland Announces Pyro S, a New Wireless 4K Video Monitoring System for Filmmakers
Hollyland Announces Pyro S, a New Wireless 4K Video Monitoring System for Filmma...
21/05/2024
Avid Unveils Revolutionary Post-Production Micro-Certifications with New Learning Partner, Post Super
Avid Unveils Revolutionary Post-Production Micro-Certifications with New Learnin...
21/05/2024
MIX's Carpool Casanova Announces Spirit Award Finalists for Season 3
MIX 101.5's Carpool Casanova will wrap season three this Friday, May 24, 2024, but his final location has yet to be determined. The ultimate Spirit Award W...
21/05/2024
Dr. Ray Seol Awarded Grant for Creative Individuals from Mass Cultural Council
Dr. Ray Seol Awarded Grant for Creative Individuals from Mass Cultural Council The grant will expand his Seu Aprendiz project designed to help individuals bui...
20/05/2024
Masters of Reinvention commissioned for Yesterday & UKTV Play
22nd May 2024 UKTV has commissioned Masters of Reinvention (6x60) for its leading factual channel Yesterday and free streaming service UKTV Play, to be produced...
20/05/2024
The Tuba Thieves Asks What It Means to Listen
PARK CITY, UTAH - JANUARY 22: The cast and crew of The Tuba Thieves pose during the 2023 Sundance Film Festival The Tuba Thieves premiere at Prospector Squa...
20/05/2024
Spotify CLASSICS: The 100 Greatest Hip-Hop Songs of the Streaming Era
Reviews by Carl Chery, Kemet High, and Adrian Covert In February, we launched Spotify CLASSICS-our first-ever program to celebrate catalog music. Our inaugur...
20/05/2024
Hamish Blake to host Alone Australia Season 2: The Reunion on 29 May
Hamish Blake to host Alone Australia Season 2: The Reunion on 29 May 20 May, 2024 Media releases As the season nears its end, SBS's hit series cements ...
20/05/2024
Poolside Gossip
Created by showrunner Abe Sylvia, the Apple TV+ comedic drama Palm Royale navigates the tale of one womans ambitious journey to make it amongst the upper crust,...
20/05/2024
SPL Media House selects Grass Valley AMPP SaaS Platform to Distribute Live Saudi Pro League Football Matches Globally
AMPP's cloud enabled rapid deployment of live production workflows with dist...
20/05/2024
EditShare celebrates anniversaries at CABSAT with innovations, integrations and implementations
EditShare Celebrates Anniversaries at CABSAT with Innovations, Integrations and ...
20/05/2024
Sony-Apollo's Bid for Paramount Gets Serious
A bid from Sony Pictures Entertainment and Apollo Global Management to acquire Paramount gained steam late last week, according to a report in the New York Time...
20/05/2024
Vizrt Unveils Viz Libro 8.3 With New Social Media Cropping Function
BERGEN, Norway Vizrt has released Viz Libero 8.3 with the announcement that its latest software version enables users to crop video to various aspect ratios fro...
20/05/2024
The Vampire Next Door Created with Pocket Cinema Camera 6K and DaVinci Resolve
The Vampire Next Door Created with Pocket Cinema Camera 6K and DaVinci Resolve Brie Clayton May 20, 2024 0 Comments Blackmagic Design today announced ...
20/05/2024
Tom Wills To Retire After Nearly 50 Years at WJXT Jacksonville
Tom Wills, long-running anchor at WJXT Jacksonville, Florida, has announced his retirement. He started at WJXT in 1975 and has anchored early-evening news for o...
20/05/2024
AMC Networks Promotes Emily Gotto to Senior VP at Shudder
AMC Networks said it promoted Emily Gotto to senior VP of acquisition and production for Shudder, the company's horror-themed streaming service....
20/05/2024
Paramount Names Jonathan Bingaman President, Domestic Multi-Platform Licensing & Distribution
Jonathan Bingaman has been named president, domestic multi-platform licensing & ...
20/05/2024
DLT Entertainment Gets FAST Laughs With 80's Sitcom Flashback Channel
Producer and distributor DLT Entertainment said it launched a free ad-supported streaming television (FAST) channel called 80's Sitcom Flashback....
20/05/2024
Zeam Media Names Sandie Trombert CMO
Zeam Media said it hired Sandie Trombert as chief marketing officer....
20/05/2024
Meet the VFX producer
Angus Berryman, VFX producer at UNIT studio tells TVBEurope how perseverance paid off as his career progressed By Matthew Corrigan Published: May 20, 2024 ...
20/05/2024
Sony signs NDA with Paramount Global but is reticent about earlier plan
The New York Times said the move was a significant step forward in their effort to court Paramount By Matthew Corrigan Published: May 20, 2024 The New Yor...
20/05/2024
CBC HR Team Getting Ballpark Staff Ready to Play Ball
A pair of stalwart members of the Capitol Broadcasting's dream team have been getting the company's two Coastal Plain League teams ready to launch their...
20/05/2024
Every Company to Be an Intelligence Manufacturer,' Declares NVIDIA CEO Jensen Huang at Dell Technologies World
AI heralds a new era of innovation for every business in every industry, NVIDIA ...
20/05/2024
VEON's Banglalink and Robi Axiata Partner to Explore Network Sharing to Expand 4G Access in Bangladesh
20 May 2024 VEON's Banglalink and Robi Axiata Partner to Explore Network Sh...
20/05/2024
Queensland Rugby League Taps Layercake, DoubleTake Sports, Enveu for OTT Tech Stack
Queensland Rugby League Taps Layercake, DoubleTake Sports, Enveu for OTT Tech St...
20/05/2024
Maglia Rosa: EMG Italy on Managing the Logistics and Technicalities of the 2024 Giro d'Italia
Maglia rosa: EMG Italy on managing the logistics and technicalities of the 2024 ...
20/05/2024
Next-Generation Technology: EMG Italy Completes Extensive San Siro Infrastructure Overhaul
Next-generation technology: EMG Italy completes extensive San Siro infrastructur...
20/05/2024
Broadcast Innovation in India: How Augmented Reality, Data-Driven Graphics Production Are Changing Everything
Broadcast Innovation in India: How Augmented Reality, Data-Driven Graphics Produ...
20/05/2024
A Year-Long Planning Process: How Game Presentation of Super Bowl LVIII Influences Next Year's Party in New Orleans
A Year-Long Planning Process: How Game Presentation of Super Bowl LVIII Influenc...
20/05/2024
SVG College Summit 2024: Clemson's Kyle Coulter Breaks Down the Tigers' Fourth Quarter Hype Video
SVG College Summit 2024: Clemson's Kyle Coulter Breaks Down the Tigers' ...
20/05/2024
HARMAN Professional Solutions Appoints Algam Ibrica as the Official Distribution Partner in Spain
May 20, 2024 LONDON-HARMAN Professional Solutions, the global leader in audio, ...
20/05/2024
RIP: Two deaths' on Shaka ILembe' production
RIP: Two deaths' on Shaka ILembe' productionTwo people, who are part of the Shaka Ilembe' production set to return for a second season, have repo...
20/05/2024
Gangsterism in movies and television: Wees geskool'
Gangsterism in movies and television: Wees geskool'Gangsterism has been portrayed in movies and television: but have you ever seen these films and televisi...
20/05/2024
School project features Die Antwoord' [Watch]
School project features Die Antwoord' [Watch]School projects are difficult. However, this student took some inspiration from the controversial band Die An...
20/05/2024
Tonight on Skeem Saam: Ntswaki sneaks Toby into the house but sadly for her, Leeto arrives unannounced
Tonight on Skeem Saam: Ntswaki sneaks Toby into the house but sadly for her, Lee...
20/05/2024
Thales and Nokia partner to deliver seamless renewal to London Underground
Facebook Twitter LinkedIn Thales, with its transmission network technology partner, Nokia, has been selected by Transport for London (TfL) to deliver an i...
20/05/2024
May 17, 2024
Scripps Research chemists develop new method for making gamma chiral centers on simple carboxylic acids C-H activation-based method should speed drug molecule ...
20/05/2024
First European Election Major TV Debate this Monday Night on Upfront with Katie Hannon
As part of RT 's extensive coverage in the run up to the European Parliament...
19/05/2024
TV Techs Weekly Product Wrap-Up
Missed any of our product coverage during your busy week? The TV Tech weekly product and services news wrap-up provides links to all of our coverage from May 13...
19/05/2024
The CW Shares Its 2024-2025 Lineup
LeVar Burton will host the new game show Trivial Pursuit on The CW, while Raven-Symon will host Scrabble....
19/05/2024
Biden, Trump Agree to Debates on CNN, ABC
President Joe Biden and former President Donald Trump have agreed to debates, set for June 27 on CNN and September 10 on ABC....
19/05/2024
End of the Line for Young Sheldon' on May 16
Young Sheldon signs off after seven seasons on CBS, when the series finale airs Thursday, May 18. Jim Parsons and Mayim Bialik reprise their roles as Sheldon Co...
19/05/2024
Netflix Announces Romantic Comedy All The Love You Wish For' (WT) by The Glory' Writer, Starring Kim Woo-bin and Suzy
Back to All News Netflix Announces Romantic Comedy All The Love You Wish For...
19/05/2024
House of Zwide' June Spoiler: The Zwides recover their millions
House of Zwide' June Spoiler: The Zwides recover their millions The House of Zwide' June teasers reveal that Funani and Nkosi will recover a share of t...
18/05/2024
If Bundling Is Back, What's the Ideal Bundle?
PORTSMOUTH, N.H. Bundling is back in a big way, with all the major streaming companies and many pay TV operators exploring ways to simplify the consumer experie...
18/05/2024
FCC to Vote on LPTV Rules during June Open Meeting
WASHINGTON, D.C. Federal Communications Commission Chairwoman Jessica Rosenworcel has announced a tentative agenda for the June Open Commission Meeting schedule...
18/05/2024
Matthews Launches New Multipurpose Grip Rail Telescopic Grid Pipe Solution
Matthews Studio Equipment has introduced Grip Rail, which the company said offers a better way to mount equipment on location, in the studio, or on the fly....
18/05/2024
IAB Tech Labs, Google Partner on New First Party Data Solution
In a notable development in the industry-wide effort to address privacy concerns while improving efficacy of marketing efforts in a cookieless ad landscape, IAB...