'I want it now' was the theme of the CitySprint Retail Workshop at the Retail Conference 2010 ...
The UK's largest privately owned SameDay distribution company discussed how flexible delivery solutions can enable retailers to gain market share in such a dynamic environment. Having already made quite an impact in the retail sector, CitySprint also shared its insights into the future of retail delivery and discussed details of exciting new delivery services it is bringing to the market.
The essence of CitySprint's Workshop was to communicate how CitySprint has a dynamic approach and all of the attributes necessary to deliver such a service, 7 days a week, 365 days a year. And rather than being just talk, CitySprint was joined by ASOS.com and House of Fraser who discussed the innovative solutions they have put together in partnership with CitySprint. Both retailers recognise the value in the provision of flexible delivery solutions and are well aware of the growth potential online retail has.
According to IMRG and Capgemini UK online retail will more than double over the next ten years when a tipping point will be reached as the market matures and growth will slow to 6 per cent per year. In light of this, online retailers have a window of opportunity to increase their market share and come up with new ways of extending brand loyalty.
The IMRG/Capgemini figures show that the UK is passionate about online shopping enjoying the ease and convenience, as well as 24/7 access, this method of retail therapy provides. However, inevitably, the more people have, the more they want and this is no different when it comes to online retail; an opinion supported by Verdict Research' Internet Retail Trends 2010' report which identified that customer expectations for online shopping will continue to rise. So in terms of 'where next', in order to maximise this window of opportunity retailers need to consider ways in which the online buying experience can be enhanced.
In recognition of this, online retail sites have already grown from being simply online catalogues to more interactive sites which actively engage with the customer in the attempt to recreate the desires and emotions felt when browsing the rails in a store. However, despite these efforts online basket abandonment is often as high as 60% and accounts for more than £2bn of potential sales. Why? The reality of having to wait for an item is often a major factor.
By providing a wide range of delivery options, online retailers also have the opportunity to differentiate themselves from the competition and attract a wider range of buyers. By offering same day delivery, for example, online retailers are more able to recreate the 'in-store' purchase and also cater to the more urgent requirements.
However, until recently, same day delivery had made very little impact in the retail sector. Whilst some retailers offered the service on an ad-hoc local basis, it had not been available more widely. Why? CitySprint believes that the caution was motivated, in part, to the fact that there really are not many delivery partners with the skill and expertise to be able to partner such a solution.
The Workshop was incredibly well received by the audience, with an interesting question and answer session, allowing ASOS.com and House of Fraser to really explain to the audience the benefits, for both them and their customers, of the service they receive from CitySprint.
CitySprint found the whole Retail Conference a rewarding experience and a fantastic opportunity to hear about the issues and opportunities that the retailers in this dynamic market sector, are currently facing.
For more information
contact CitySprint's Retail Solutions.
