LIDS Part of 3-Way Tie for Top Spot in Top 100 Omnichannel Retailers List
LIDS, a Genesco brand that operates within Hat Word Inc., earned the No. 1 ranking in Total Retail’s analysis of 100 publicly traded retailers based on its omnichannel capabilities/programs offered and the execution of said programs. LIDS was part of a three-way tie for first place, joined by DSW and UGG. The full rankings can be found in Total Retail's 2018 Top 100 Omnichannel Retailers report.
For the report, the retailers were judged on the following seven omnichannel criteria, with the research compiled in the first quarter of 2018: does it offer buy online, pick up in-store; does it offer the ability to search for in-store products on its website, including access to stock availability; does it offer a shared cart across channels (e.g., mobile to desktop); can loyalty points be earned and redeemed across channels; can products be returned across channels (e.g., return online purchases in-store); does it offer three or more channels for customers to engage customer service staff; and is product pricing consistent across channels.
LIDS earned the highest possible score in five of the seven criteria researched. The brand fell short in the following categories: the ability for products to be returned across channels, as well as offering three or more channels for customer service.
Omnichannel Retail Success
The reason for LIDS’ top ranking can be traced back to its commitment to ommnichannel. In fact, Jeff Pearson, senior vice president of e-commerce and marketing at LIDS, has said that one of his key goals is to make LIDS a true omnichannel retailer, as well as become more digital, social and loyal. Execution of these goals, Pearson said, will “drive traffic to our sites and stores and assist in creating loyal customers.”
One omnichannel initiative under Pearson’s purview is LIDS mobile application, the LIDS Access Pass app, which provides a gateway into a loyalty program centered around rewarding shoppers with exclusive deals and access to once-in-a-lifetime experiences. The app and Access Pass program provide shoppers instant and mobile connection to unique options and perks. For example, members can easily use the app to track points and rewards, engage with LIDS’ social channels, and receive exclusive in-app offers. In addition, the app can be customized to track merchandise for favorite teams and brands.
The app has been very successful at generating customer engagement. From March 15, 2017 through April 23, 2017, the LIDS Access Pass app-based loyalty program generated 46,350 new users; 90,034 returning sessions; and nearly 29,000 visits.
The app also helps LIDS gather valuable information from its customers, which it combines with data from other sources (e.g., its digital properties, customer service, marketing, etc.) to create a holistic view of each customer. This holistic view forms the basis of LIDS’ omnichannel strategy. After all, knowing where its customers are shopping and what they're buying is the first step toward creating a unified experience for them.
To see the entire ranking of 100 retailers, as well as gain insights into the companies at the top of the list and the omnichannel trends shaping the industry, download the full report for free today.
Related story: Total Retail's 2018 Top 100 Omnichannel Retailers