Increased variety in customers' channel use patterns

Those who synchronize their distribution channels will preserve or gain market share. Research has shown that multi-channel shoppers in the financial services and retail sectors represent an increasingly large proportion of the attractive buying population. Furthermore, in the retail banking sector, multi-channel customers can be 25 to 50 per cent more profitable than those using one channel, while retail shoppers who use multichannel purchasing spend two to four times more than those who purchase through a single channel. This is reinforced by the Boston Consulting Group whose research revealed that European retailers who have an offline presence and manage an integrated Internet channel enjoy a disproportionate market-share, and online satisfied customers spend 71 per cent more and transact two and a half times more than dissatisfied ones. ^[6] Providing the target high-value multi-channel customer segment with increased convenience through integrated channel management therefore not only encourages customer lock-on and brand loyalty, but results in improved customer lifetime value.