Smarter Commerce for retail

Smarter Commerce for retail

Creating brand intimacy in the age of the evolving Smarter Consumer
 
The behavior of today’s Smarter Consumer is unique in the annals of Retail. She’s more instrumented than ever before, with 36 percent more consumers now using two or more technologies during the shopping process than the previous year and 30 percent fewer using no technologies at all when shopping.
1 Along with this growing use of technology for shopping, the Smarter Consumer is more interconnected to other people than ever before. Global mobile subscriptions equal 87 percent of the world’s population.2 In addition, the Smarter Consumer has increasing access to more intelligent tools (e.g., the worldwide smartphone market is expected to grow 49.2 percent in 2011).3 But, beyond mere connectivity and access to more intelligent tools, the degree to which technology has permeated daily life has grown, as well. For instance, 91 percent of mobile users keep their phone within one meter’s reach 24/7.4 The average U.S. teen sends or receives 3,339 text messages every month (up 8 percent from the previous year).5 [That’s approximately 110 texts per day.] Fifty-percent of shoppers consult their phone while shopping and 80 percent have used their phone while in the store.6
With greater access to – and use of – technology comes greater access to information. And, the number of sources from which consumers can gather information continues to grow.
User-generated content alone (e.g., ratings/reviews, blogs, etc.) is expected to grow to 114.5 million creators by 2013.7 In fact, 91 percent of consumers like to share their views about their brand experience on line with other consumers.8 And, the Smarter Consumer is paying attention to this user-generated content (e.g., 61 percent of consumers rely on user reviews for product information before making a purchase decision;9 67 percent of shoppers spend more money on line after reading recommendations on line;10 and, products with syndicated reviews have a 26 percent higher conversion rate than those without).11
This newly instrumented, interconnected, and intelligent Smarter Consumer sees her world through a different lens…
a lens that highlights what is possible. And, she expects a heightened customer experience from every retailer at every stage of her interactions with the retailer’s brand. Moreover, this more demanding consumer has clear preferences and expectations.

[gravityform id=”2″ name=”Download whitepaper Smarter Commerce”]

 

Leave a reply

What's going on in Retailing?! website is van Euroforum BV. Privacy statement | Cookie statement | Copyright ©2021