Last week, L2 released an animated video along with the Digital IQ Index: Specialty Retail study. A few highlights:
– In the past three years, retailers have seen steady erosion across site metrics. Time on site is down by over a minute. Bounce rates are up 20% and conversion rates have shrunk by 25%
– Yet, influence is moving online. Consumers are researching on online channels and buying at physical stores. 69% of U.S. consumers webroom while only 46% showroom.
– Retailers have been slow to adapt. For example, 33% allow inventory check on PCs and tablet but only 14% have extended the feature to mobile phone.
– All but three of the brands in L2’s Specialty Retail Index are increasing their brick-and-mortar footprint.
– Sephora is the standalone Genius brand in the study for the third year in a row as it continues to reimagine multichannel retail. Gifted brand and third in the Index is American Eagle, who collaborated with 80 bloggers.