70% of Americans Prefer to Shop Local
You hear it all the time, “I love your store,” or “I want to support local,” and “I am over Amazon.” But it is no secret that millions of customers are going to Amazon’s market place to shop and buy. But in a survey of 1,500 Americans done by Intuit, they found that 70% of customers prefer to support local businesses through online and instore purchases.
Connecting with your in-store customers online is critical. It is proven that a majority of shoppers start their purchases online. This means your website needs to give customers the option to shop what you have to offer. “But I will never be able to compete with online prices,” so what is the point of trying to have an e-commerce site? A survey done in 2020 by Red Egg Marketing found that 82% of customers surveyed are willing to pay more for a product from a local retailer, and 8 out of 10 customers are willing to spend more money at local businesses. Your website should be treated as the first stop for your customers.
What does this mean for brands and retailers? Exchange Collective solves this problem – it allows people to support their local retailer and buy the brands they want. Brands win by controlling their product images and descriptions, Retailers win by having Brands manage the product data so they don’t have to.
In the past few years, it has become easier for retailers to set up e-commerce sites. Though it may be easier for retailers to set up a site, the day to day upkeep of products and inventory information are daunting tasks, and this means your brand may not be getting the exposure that it desires and/or have its inventory limited due to retailer constraints.
All the tools to SELL MORE:
– Live inventory feeds from your brands
– Drop shipments direct to customers
– Unlimited inventory, brands, & transactions
– Endless aisles for saving in-store sales
– Order management
– Effortless accounting
Press Release: Locally x Exchange Collective
Today, virtually all consumers do product research online before they make a purchase. Many shoppers want to make their purchase online, while many others are browsing online before heading to their local shop. Locally and Exchange Collective are teaming up to offer shoppers a complete solution that allows them to simultaneously research products online, buy from a nearby store, or have an item shipped to them from an extended inventory – supported by the nearby store’s brand partners.
First, Locally’s Product Finder enables shoppers to see if an item is in-stock at the local store for pickup or delivery. Or, if it isn’t, or they prefer their purchase to be shipped, Exchange Collective’s endless aisle technology displays a brands’ inventory on the same dealer’s website.
Together, Locally and Exchange Collective enable shoppers to support their favorite local shops while still choosing from the largest selection of inventory available for pickup, delivery, or shipment.
This partnership unlocks a brand’s Direct to Consumer business without creating channel conflict between their retailers and online sales channels by allowing product availability through any digital channel the customer interacts with.
“We are very excited about our partnership with Locally,” says Dave Pankratz, Co-Founder of Exchange Collective. “One of our primary missions at Exchange Collective is to provide a service for brands to partner with retailers and new sales channels to allow customers to find, shop, and purchase products from authentic retail channels. Locally helps us elevate this consumer experience.”
“Locally’s Product Locator surfaces the nearby inventory of tens of thousands of stores to millions of shoppers per day.”, says Locally’s VP, BD Teddy Schiavoni. “And now, once combined with Exchange Collective, shoppers will also be able to browse brand’s inventory while still supporting local businesses. It’s a win for everyone; consumers, stores, and brands/suppliers.”
About Exchange Collective
In 2016 twin brothers Dan and Dave Pankratz set out to create a platform for brands and retailers to partner in providing the best product selection for customers to shop and buy through the retailers they love. The Exchange Collective allows brands to unlock their Direct to Consumer business by connecting a brand’s product content and available inventory to multiple retailers, marketplaces, or influencers’ websites to be purchased by the end consumer. Brands gain more exposure to the end consumer through trusted and valued online sales channels. Retailers are not limited to only selling what they can afford to stock, and ultimately the customer wins by finding the products they want, where they are shopping. It’s a win, win win.
Locally was founded in 2014 in anticipation of changes in consumer behavior. The company recognized shoppers were increasingly turning to internet-connected devices for decision making and that often meant that nearby stores, the brands they carry, and their on-hand inventory were invisible to shoppers. So, they built a solution. Today, Locally helps tens of thousands of stores present their inventory to millions of nearby shoppers using e-commerce tactics that are attached to last-mile fulfillment options like local pickup and delivery. To learn more about Locally, please visit https://join.locally.com/
BRA note: We are very pleased to mention that both Exchange Collective and Locally are BRA Supporting Vendor Partners that have also supported Board Retailers Association as Supporting Event Partners of a number of BRA Retailer Roundtable events as well as a booth sponsors at the Outdoor Retailer Snow Show and multiple Surf Expo shows. They also provide free onboarding to our Retail Members. Be sure to mention BRA when connecting with Dan, Teddy and the solid people behind this outstanding integrated resource.
– Doug Works, Executive Director BRA
If you are not yet a BRA Retail Member, you can easily opt in to either Regular (no cost) or Distinguished ($100/yr.) Membership via this super simple join form