Reviewing online functionality for a selection of key European online only retailers, I am struck by a shift. With the basics of purchasing and navigation nailed down, the devil is now in the detail of implementing online functionality for apparel retailers – particularly those that are online only. Now we are seeing both subtle and overt efforts to improve merchandising and remote clienteling online proactive live chat, 2D size guides, personal shopping style guides and ‘compete the outfit’ suggestions on product pages.
To get to the next level of best practice and differentiation online apparel retailers need to keep refining their website functionality in order to succeed in a competitive and increasingly crowded category. Empowered customers are using multiple devices to shop online helping to drive forecasted online retail sales growth of 12% in Europe (2013 to 2018). To secure their chunk of this growth, online apparel retailers need to constantly evaluate, test and implement new and improved functionality to support merchandising and drive consumers through the path to purchase.
It's still early in the mobile investing game, but with investor expectations rising and substantial business at stake, digital wealth management teams know they must improve their portfolios of mobile sites and apps. To help, Forrester developed the Mobile Wealth Management Functionality Benchmark. Early this year, we published our first scorecard of five global leaders. We found that:
E-Trade and Fidelity lead with strong account information and transactional functionality. Both firms excel in the presentation of portfolio information. E-Trade enables clients to see their portfolios' historical performance charted against major US stock indexes. Fidelity's visual display of balances, holdings, and market summaries is best-in-class. Most firms miss the opportunity to use graphics to let investors visualize their portfolios.
Cortal Consors, TD Direct, and Merrill Lynch all exceed minimum standards. Cortal Consors in France and TD Direct support a wider range of products than US firms because European investors often invest beyond their home market. Merrill Lynch, the only full-service firm tested, makes it easy to reach a rep.
Opportunities to improve include mobile-optimized websites, research, and ease of use. We believe that most firms will arrive at a mobile strategy that includes websites optimized for delivery through mobile devices. But none of the five firms we reviewed offer mobile-optimized websites. None offer stock screeners or in-depth research reports through their smartphone apps. None offer ease-of-use features like contextual help.