Showrooming and webrooming are two online shopping trends that have had a major impact on the retail industry. While the emergence of these trends has presented challenges for brick-and-mortar retailers when competing with online retailers, they can also be an opportunity for businesses to merge the online and offline experience to put them above their competitors.
First, let’s define what these emerging trends are.
- Showrooming: Consumers research products in a physical store but make their final purchasing decision online.
- Webrooming: Consumers research products online but make their final purchasing decision in a physical store.
These trends have contributed to Centricity innovating to meet the needs of modern consumers wherever they are in the buying process. Extended service contracts are often sold by retailers at the point of sale, but consumers are increasingly researching them online before making a purchase.
So, how can retailers that sell Centricity product protection win in the age of showrooming and webrooming?
Here are a few tips:
- Make it easy. As potential customers research their extended service plan options, provide clear and concise information about Centricity’s plans, including the coverage offered, the cost, and the terms and conditions.
- Offer competitive prices. Consumers are price-conscious, so you need to ensure they understand the value of extended service plans. Provide consumers with repair costs for the products they are purchasing so they can compare that to the cost of extended service plans.
- Provide excellent customer service. Consumers want to feel confident that they are making the right decision when making purchases. Centricity builds trust and consumer confidence by being responsive to customer inquiries, resolving issues quickly and fairly, and providing technical support.
- Use omnichannel technology. Incorporating omnichannel technology allows customers to seamlessly move between online and offline channels during their shopping journey. For example, chatbots can be used to recommend an extended service contract and mobile apps allow customers to scan a product in-store and then purchase a contract online.
As with any business, extended service contract providers must change and adjust to emerging trends. Centricity has more than 40 years of experience in working with retailers to keep their product protection programs steps ahead of the evolving marketplace.
To learn more about how Centricity’s experts can help you adapt your business to the time of omnichannel shopping, contact us today or visit our website.