Better gender ratio in sales staff, Hyperlocal omni-channel marketing, social media for CX, and enterprise-wide IT Adoption imperative for offline retail MBOs to drive customer in-store footprints in 2021
|Overall Survey Highlights – 5G Adoption and Offline MBO Retail Trends:|
|• Nearly 1 out of 4 MBO customers surveyed, totaling 78%, claimed that they are familiar with 5G.|
|• Awareness and intention to buy a 5G smartphone is highest among Millennials aged 21-30.|
|• Next to awareness, purchase potential for 5G phone is strong, with 73% interested to buy 5G enabled phones|
|• 89% consumers are veering towards MBOs that guarantee cleanliness, amicable staff and ambience.|
|• Advertising influences 23% of consumers to make a purchase.|
|• 37% of the largest MBOs and 97% of the smallest didn’t use in-store tech for admin or marketing purposes|
|• Large MBO players are more adaptive, agile to changing behavior than small and medium ones.|
|• Extra-large stores employ the most women (36.8%) and the percentage declines with store size|
|• Trend indicated that employing women employees didn’t affect sales to women customers|
- New Delhi, August 27, 2021: PredictiVu, India’s leading analytics firm, today unveiling their MBO: Smartphone India Overview Part 2, revealed that awareness and willingness to buy a 5G smartphone is highest among millennials aged 21-30 when it comes to 5G interest among consumers and that better gender ratio in sales staff, hyperlocal marketing, social media for CX, and enterprise-wide IT adoption would be critical drivers for offline retail MBOs to succeed in 2021.
5G is going to be a big driver for smartphone consumers and MBOs need to embrace it with better 5G ads and an effective omni channel marketing strategy to woo more women buyers, high potential market segment, to their offline stores. While the propensity to purchase 5G enabled smartphones are as high as 73%, about 89% consumers would prefer to step into MBOs that guarantees cleanliness, amicable staff and superior ambience.
The report based on the near real time assessment of datasets of 1208 consumers and 2080 retailers which further is bifurcated on the basis of age and gender, have captured the following key trends in the consumer behavior towards 5G adoption and changes that Offline MBO retailers need to adopt to maximize their growth potential in the pandemic year.
MBO CUSTOMERS AND 5G – PREDICTIVU SURVEY
|PredictiVu’s Top findings: MBO Customers and 5G|
• According to the survey, nearly 1 out of 4 MBO customers are 5G aware.
• 34% of the consumers have high awareness, 30% have awareness, 14% are familiar and 22% have never heard of 5G.
• Alongside awareness, purchase potential is strong, as 73% of smartphone owners surveyed are interested to buy a 5G enabled smartphone in the future.
• 89% consumers are veering towards MBOs that guarantee cleanliness, amicable staff and superior ambience.
• 86% male within millennials reflected the potential to shift to a 5G phone
• 94.3% are buying from local retail store while only 4.7% shopped from MBO chains.
• MBOs have high potential to educate consumers in-store on 5G technology enabled smartphones
MBO RETAILER’S SIDE OF THE STORY
|PredictiVu’s Top findings: MBO Retailer’s SIDE OF THE STORY |
• 37% of the largest MBOs and 97% of the smallest didn’t use in-store tech for admin or marketing purposes
• Extra-large stores employ the most women (36.8%) and the percentage declines with store size. 13.6% of the surveyed MBOs have female staff in their sales department.
• Only 23.6% retailers believe that employing women will help in enhancing their overall sales.
• Hiring more female staff across levels and running effective training programmes critical as gender does not define a skill or dictate the quality of work.
• Under digital usage, more than 24% of retailers uses digital billing for payment.
• Almost 98% retailers did not start other business during lockdown showing more resilience against market odds.
• Better gender ratio in sales staff, hyperlocal Omni-channel marketing, social media for CX, and enterprise-wide IT adoption imperative for offline retail MBOs to succeed in 2021
Introducing the report, Kunal Sarkar, Vice President, PredictiVu, said, “The 5G adoption will be a significant growth driver for the offline retail MBO, given that the pandemic has brought the entire retail industry closer. Raising customer awareness about 5G is imperative now. Offerings and strategies to woo women buyers within millennials to shift purchase focus to offline stores is important. Better partnerships with brands, monitoring online exchange schemes to offer better deals, attractive advertisements using omni-channel and hyperlocal marketing strategy can improve foot traffic to physical locations of the MBOs and capitalize on a huge market. Further, better gender ratio in sales staff, social media usage for CX, and enterprise-wide IT adoption is essential for offline retail MBOs to better sales output in 2021. Am grateful to unveil “MBO: Smartphone India Overview Part 2: Apr-Jun 2021” ahead of the festive season, so that retailers can plan more engaging strategies and better customer in-store footprints and further set appropriate marketing goals to grow in a post-pandemic recovery phase”, he added.
Rajesh Kurup, Strategic Advisory Board, PredictiVu said,” Fast, accurate insights into consumer behaviour and preferences are important facets to competitive success and delivering stellar consumer experiences. This report released at the perfect time will aid offline MBO retailers and marketers to get a comprehensive view and understanding of the key trends influencing consumer behaviour towards 5G and offline store purchase decisions. ”
About PredictiVu: PredictiVu is India first of its kind analytics firm and one-stop solution for CMOs and marketers, specialized in correlating marketing campaign performance at an immense granular level with proprietary retail purchase data, digital trends, customer preferences, media spend, to deliver near-real-time business intelligence insights 10 times faster than traditional methods. With AI/ML powered data visualization tools and solutions, the firm aims to deliver exceptionally agile, flexible, reliable consolidated, and holistic business intelligence insights that can help marketers drive business growth for enterprises and brands, map competitor performance at deeper level and maximize the RoI of marketing live campaigns. Headquartered at Gurugram, PredictiVu’s investors include Nomura Research Institute and Info-bridge Marketing and Promotions Co. Ltd. which bring in decades of industry, analytics, and consulting experience. For more info, visit, https://predictivu.com/