Decades ago, retail was based on relationships: when someone walked through the front door, the merchant personally greeted them and asked how they could help, but with the plethora of gadgets out there, how will tomorrow’s retail experience compare...
Previously the customer trusted the merchant in the store to help them with what they needed and educate them about new items on the shelf. Over time, the personalised approach has been lost and consumers no longer felt they owed same loyalty to the retailer. Today, retailers are working to enhance their shoppers’ experience, knowing that at the same time customers have options to shop wherever and whenever they want, often without stepping inside a store.
Now the retailer has to anticipate a shopper’s buying behavior, whether the route they take begins with a website, social site or in the parking lot outside their store. They need to provide a compelling and personalised way to rekindle the special bond between the shopper and their brand.
It’s complex and confusing. But it also provides immense opportunities. The following infographic shows how retails believe the shopping experience will change over the next five years:
Shoppers’ habits are shifting as they move from feature phones to smartphones. These smartphone users are utilising their devices in the store for a range of uses including shopping lists, product reviews, price comparison or just to send a picture to a friend about the new item they found on sale. Consumers have a specific expectation of their retail experience and getting the information they want when they want it – inside or outside the store.
Without change, the retailer will fail to meet connected shopper’s expectations and will find it even more challenging to make the investments needed to catch up with their customers and their competitors. As the majority of purchases will still occur in the brick and mortar store, it is incumbent on the store to leverage the right technology to give customers the same kind of information and experience they get online, but with the added familiarity and immediacy of an in-person visit. Almost three-quarters of surveyed retailers believe that maintaining an engaging customer experience is going to be business-critical over the next five years. The best place to start is by looking at technology’s role in the customer experience.
This whitepaper examines the future of retail, including changing shopper mindsets and behaviors, and the new expectations shoppers have for their in-store experience.
