This survey, PwC’s seventh annual study in a series tracking changes in global consumers’ shopping preferences, is our biggest one yet: 15,000 online users representing 15 countries. Among the expectations that global consumers now have are: 24/7 retailer availability, real-time insight into the retailer’s stock, compelling in-store technology, and consistent prices and offerings across all the retailer’s assets.
Today’s consumers have raised the bar for retailers. Multichannel shopping is a given — the price of admission into the conversation. Within our data we’ve unearthed eight customer expectations that transcend geography and product category, and will require that retailers evaluate their business model from top to bottom.
- A compelling brand story that promises a distinctive experience
- Customised offers based on totally protected, personal preferences and information
- An enhanced and consistent experience across all devices
- Transparency, real-time, into a retailer’s inventory
- My favourite retailers are everywhere
- To maximise the value of mobile shopping, both store apps and mobile sites must improve
- Two-way social media engagement
- “Brands” act like retailers, and we’ll treat them that way
Take a closer look at the main takeaways and feel free to discuss and share them! Please, don’t hesitate to contact me for any doubt and follow the hashtag #TotalRetail!
You can find all the contents, video, and much more on www.PwC.com/TotalRetail
1. “Trust the brand” is the #1 reason people shop at their favorite retailers, so retailers should change how that brand is communicated, both internally and externally.
2. Retailers need to strike a balance between customization and security because online shoppers demand customized offers based on totally protected, personal preferences and information.
3. Consumers expect a consistent experience across all devices, so companies need to ensure that customer information “travels” securely with each device.
4. The back-office of retailers needs to move at the speed of the customer because shoppers want real time, transparency into a retailer’s inventory.
5. Favorite retailers are everywhere, so retailers should examine their store portfolio taking into account how consumers want to shop.
6. To maximize the value of mobile shopping, both store apps and mobile sites must improve. Businesses should focus on the mobile browser experience first, and then ramp up apps.
7. Online shoppers seek two-way social media engagement, so retailers need to listen to customer’s comments and turn that commentary into actionable data.
8. Shoppers don’t see the difference between manufacturers and retailers, so both sides need to work together to share consumer insights and collaborate to enlarge the pie and drive more success for both.
According to the 2013 BrandFinance Global 500, a list of the world’s top 500 most valuable brands, PwC ranks #4 by brand rating. Brand rating takes into account other financial metrics such as net margins, average revenue per customer, marketing and advertising spend, as well as qualitative measures such as brand affection and loyalty.
This is the comparison with the other Big 4, listed under “Commercial Services”:
Also, take a look at this benchmarking drill-down:
Brand Value / Enterprise Value* (as percentage)
Brand / enterprise value vs. brand rating
Download the full comparison document: PwC_Big4_Brand_Comparison
[Source: Best Global Brands | BrandFinance]
Employees looking for a little more cheer in their lives should consider moving to the U.S. West Coast, new research shows.
California is home to three of the 10 happiest cities to work in, including San Jose, which tops the list. San Francisco and San Diego were also among the 10 cheeriest cities for employees, the study by online career community CareerBliss revealed.
The rankings were based on several key factors that affect work happiness, including an employee’s relationship with his or her boss and co-workers, work environment, job resources, compensation, growth opportunities, company culture, company reputation, daily tasks and job control over work performed on a daily basis. The data account for how an employee values each factor, as well as how important that factor is to the employee’s overall happiness.
In San Jose, the people and the company reputation had a large impact on overall happiness. As the capital of Silicon Valley, CareerBliss researchers said the northern California city has a large concentration of technology jobs that are often high paying and provide innovative work environments.
Other cities outside of California ranking in the top 10 included:
- Washington, D.C.
- Las Vegas, Nev.
- Salt Lake City, Utah
- Houston, Texas
- Boston, Mass.
- Philadelphia, Pa.
- Charlotte, N.C.
Factors that ranked high across all of the happiest cities were the opportunities for growth and the relationship employees had with their co-workers.
In contrast, CareerBliss found that the rewards employees received and the support they got were lowest in cities that were the unhappiest. In addition, a common factor that affected unhappy cities was a lower ranking in overall work environment.
The 10 unhappiest cities were:
- Cincinnati, Ohio
- Orlando, Fla.
- Indianapolis, Ind.
- Denver, Colo.
- Pittsburgh, Pa.
- Tampa, Fla.
- Columbus, Ohio
- Sacramento, Calif.
- Miami, Fla.
- Arlington, Texas
“Having a clear picture of what drives happiness at work not only impacts companies, but entire communities and can help create happier environments all around,” said CareerBliss co-founder Heidi Golledge.
Happiest Cities for Work in 2014
|1||San Jose, CA||3.931|
|3||San Francisco, CA||3.925|
|4||Las Vegas, NV||3.891|
|5||Salt Lake City, UT||3.840|
|9||San Diego, CA||3.783|
The CareerBliss data evaluates the key factors which affect work happiness, including: one’s relationship with their boss and co-workers, their work environment, job resources, compensation, growth opportunities, company culture, company reputation, their daily tasks, and job control over the work that they do on a daily basis. The data accounts for how an employee values each factor as well as how important that factor is to the employee’s overall happiness. Each review is given an average score indicating where the company places between one and five.