What separates the top performing omnireadi merchants from the under performers? Multiple strategies. And one such strategy that is catching the attention of top performing merchants is extending omnichannel features — not just in-store and online — but also on mobile, according to the Q1 2017 PYMNTS OmniReadi Index™, powered by Vantiv.
Between Q4 2015 and Q4 2016 alone, merchants offering social sharing on mobile jumped from 18 percent to 34 percent, whereas product returns on mobile increased from 65 percent to 79 percent. Much of this change has come as more consumers than ever now shop from their mobile devices. During the 2016 holiday season, for instance, 71 percent of consumers shopped on mobile.
Other key takeaways from the Q1 2017 Index include:
–The overall Index score increased from 67.4 to 67.6 this quarter, as a result of the mid, lower and bottom 10 merchants warming up to being omnireadi.
– While sporting goods retailers again emerged on top, their score fell from 76.6 in Q3 2016 to 75.8 in Q4 2016.
– Product reviews and quick checkout continue to be a stumbling block for the top 10 merchants.
The Index also features an interview with Scott Emmons, head of Innovation Lab at Neiman Marcus, who is helping the retail giant become omnireadi one feature at a time. Staying relevant and becoming omnireadi is a process fraught with experiments and failure, Emmons said, sharing the lessons Neiman Marcus has learned in its years developing omnichannel features that are helping the company stay competitive.
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To download the Q1 2017 PYMNTS OmniReadi Index™, powered by Vantiv, please click below.
About the Index
The PYMNTS.com OmniReadi Index™, powered by Vantiv, was designed to quantify the consistency between the web and in-store shopping experience and determine if the mobile channel is helping, hurting or simply neutral to the overall situation.