On April 7th, 2016, crealytics attended the Google Shopping Days event, which took place for the third time in Hamburg. An impressive line up of speakers including leading Product Managers brought a lot of insights on the upcoming features and discussed the changes in consumer behaviour in retail. Let’s take a look at the most compelling insights.
US Stores – Less Visitors, Higher Cart Value
With the growing tendency to research and shop online, traditional bricks-and-mortar stores have seen a decline of 57% from visitors in physical stores in the US. That means, for every 100 visitors previously, now there are only 43 – but these 43 bring retailers 2.6 times more value per purchase.
Google estimates that in the US 64% of all in-store sales are influenced by digital marketing activities.
Another alarming fact: 1 in 4 people will decline an offline buying decision, due to further researches on their smartphone while waiting in the checkout line.
The Mobile Horizon
Google expects around 36% of online conversions to take place on mobile devices at the end of 2016, with numbers bound to rise even more. Conversion attribution still remains a major topic: although a supposed 16% of user journeys start on mobile, the conversion that ends the journey usually takes place on a different device. The mobile shopping behaviour is more complex as buyers often use the technology to inform themselves, compare the prices and then finally decide where to buy the product.
Google no Longer Just a Search Engine
Google aims to create a seamless experience for shoppers along the customer journey: from inspiration and research to comparison and conversion. The mental model is what Google calls a ‘Moment’ – a specific person in a context. Technically, this translates to a triplet of location, identity and intent. That can be seen across the AdWords platform: the former lonely keyword (representing intent) has got mighty cousins like the Local Inventory Ads to support location, as well as Remarketing Lists for Search Ads and Customer Match to support identity.