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.
