Shoppers demand a global retail experience, yet they want it localised for their needs and expectations, according to research which shows that Amazon is consumers’ top choice.
Information-driven consumers want retailers to co-create interactions that are “good for me”, which means an experience that meets expectations locally and culturally, and is relevant in terms of level, frequency and intimacy between consumer and retailer.
The “good for me” experience should be delivered across all channels, whether stores, online, mobile or any other.
The research, commissioned by Oracle Retail, found that in every market where Amazon was present it was selected as the most favourite retailer in terms of experience. Choice was a big part of the popularity of Amazon.
Service was found to be increasingly important, with 88% of respondents listing it as very or fairly important. Over half of respondents indicated they would switch to a competitor or actively recommend against using a particular retailer if they had bad service, and a growing number (37%) said they would share their dissatisfaction via social media.
Personalisation was found to be less highly valued in comparison with service and experience.
Mike Webster, senior vice president and general manager of Oracle Retail, said most customers think of personalisation in terms of promotions and offers, and the appetite could be low because of the trust issue. “If consumers have a high level of trust with a retailer then they will be more open to personalisation but otherwise not,” he said.
The report, Evolution of Experience Retailing, covered Brazil, China, Germany, Japan, Russia, the UK and US.
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