The answer to that question could be found in a new study from RetailNext, which reveals that consumer and retailer perceptions are not aligned, which don’t provide memorable customer experiences.
What’s more, the study says that many retail stores lack the essential technology to measure and apply shopper data across all channels.
Forrester Consulting completed the January 2016 commissioned study on behalf of RetailNext, and conducted in-depth surveys with 500 consumers and 150 retail decision-makers in the United States and United Kingdom to develop the findings. The full study, Real-Time Data Drives the Future of Retail, is available for free download at http://retailnext.net/benchmark/real-time-data-drives-the-future-of-retail/.
“Today’s shoppers have tremendous information and choice at their fingertips, and with this access to information they are quickly and not-so-quietly reinventing their shopping experiences, and in turn the retail industry,” said Bridget Johns, head of marketing and customer experience at RetailNext. “This new study not only emphasizes that retailers must rethink what makes for exceptional in-store experiences, but also shows a growing need to blend brand operations cross-channel to better reflect the new shopping journeys on which shoppers now embark.”
Here are some key study findings:
Physical retail is alive and persisting – and increasingly influenced by digital. Today’s new shopping journeys recognize the value of physical retail and its particular set of competitive advantages, such as the ability to experience products and services and interact with sales associates. However, shoppers also require seamless cross-channel experiences, and only 49% of consumer respondents feel they receive consistent experiences across all channels.
Retailers don't understand what matters most to shoppers. Retailers are experiencing a disconnect between strategy and tactics and what shoppers want most, such as consistent pricing across channels and the ability to make returns regardless of the channel where the initial purchase was made. Seventy-nine percent of shoppers reported pricing consistency as a critical or important requirement, while just 52% of retailers agreed.
The role of the sales associate is evolving. Today’s digitally-empowered, smartphone-wielding shoppers expect on-demand sales associates who are facilitators of exceptional shopping experiences. However, just 29% of consumer respondents feel sales associates are knowledgeable and helpful.
Retailers are not measuring customer behavior, especially in-store. Retailers understand and agree that in-store technology drives both operational excellence and the overall digital customer experience. However, retailers overwhelmingly struggle to measure customer behavior, and surprisingly few reported the use of Key Performance Indicator (KPI) metrics in-store, with just 33% of retailers reporting they always measure conversion rates.