L2 Think Tank analyzes how 79 prestige retailers and brands are using digital to drive customers to brick-and-mortar channels. By examining email, site, mobile, and search data, L2 attempts to determine the brands and best practices that are removing organizational and technological barriers and delivering a true multichannel experience. Here some key points from their report:
• While it’s estimated that online sales (PC + mobile) will reach $262 billion in 2013, the Internet will influence $1.3 trillion of sales in 2013, a full 40 percent of total retail sales. In addition, by 2016 $689 billion in sales will be influenced by mobile, more than 20 times the m-commerce market.

• Just 30 percent of prestige retailers in the study provide a link to the store locator from product pages. Only 22 percent provide real-time inventory integration on their sites to the SKU level at the brick and mortar boutiques. Just one in 10 offer in-store pickup of online orders.

• For many luxury brands the deficit in using digital to influence in-store purchases stems from outsourcing e-commerce to a third-party vendor, resulting in the inability to provide basic services such as buy online, return in-store.

• Email data reveals retailers undervalue the store locator. Only 10 brands in the study feature a prominent locator call out (beyond a link in the email header or footer) in more than half their emails. Just 14 percent linked to the locator in the header of all emails and 34 percent linked in the footer.

To view L2’s short video further detailing the report’s findings, click here.
To purchase the full report contact membership@L2ThinkTank.com