SAN JOSE, Calif. – Jan. 11, 2020 – Today, RetailNext Inc., the worldwide expert and market leader in smart store retail analytics for optimizing shopper experiences, released survey results that show global shoppers increasingly discover new products and trends through digital marketplaces and social media platforms, yet continue to seek enjoyable, friction free, seamless shopping experiences across both online and brick-and-mortar stores. And, while the retail industry has been responding to the demands of consumers and their connected shopping journeys, there are still several significant gaps to close between shopper expectations and delivered shopping experiences.
RetailNext completed the study in November 2019, conducting in-depth surveys with 2,000 consumers from around the world, examining how shoppers currently interact across retail channels, what drives consumers to shop, and where retailers are meeting or not meeting shopper expectations. The study was conducted in 13 countries across Europe, North America and Asia, and focused on developed retail markets. The entire study, “The New Age of Shoppers,” is available for free downloads at https://retailnext.net/en/benchmark/global-shopper-survey-the-new-age-of-shoppers/.
“With immediate access to information and a wide variety of choice literally at their fingertips, shoppers have forced a new era of retail upon the industry,” said Bridget Johns, chief marketing officer and head of growth strategies at RetailNext. “This study reveals shoppers’ ideal desire for engaging and seamless shopping experiences, and provides retailers the high-level insights that will allow them to differentiate and deliver upon shoppers’ best interests.”
Key Survey Findings
- Product interactions and representations are important. Both in-store and online, the ability to best experience and/or understand product features and benefits, with accurate product representations, is critical to shoppers, and makes a difference in their shopping journeys.
- Personalized and curated digital channels drive product discovery. Shoppers discover products through digital channels like online marketplaces and social media platforms, and the channels’ abilities to provide personalized and curated experiences by leveraging shopper data further reinforces the trend.
- Shoppers want to connect with the brand or retailer. Shoppers look to connect with brands and associate memorable experiences with them, as 73 percent of shoppers were either ‘very likely’ or ‘likely’ to go to stores with interesting experiences or unique designs.
- Sustainable and ethical practices are a priority. Shoppers increasingly seek transparency and want to identify and connect with a brand’s values, and brands can truly differentiate themselves if they effectively communicate values and stay true to them.
- Shopping journeys are still disconnected. After a decade and billons of dollars of investment in omnichannel experiences, retailers still face challenges in creating a seamless, friction-free continuity across online and offline shopping experiences.
- Similar overall trends seen across regions. Survey results were consistent across global regions, indicating developing retail markets face similar opportunities and challenges.
In addition to sharing the survey data and findings through the final study, RetailNext is also highlighting the survey alongside its innovative smart store solutions at booth #4373 at NRF 2020, Retail’s Big Show & Expo, presented by the National Retail Federation in New York City, January 12-14.
The first retail vertical IoT platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands and malls, RetailNext is a pioneer in focusing entirely on optimizing the shopper experience. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior data, providing retailers with insight to improve the shopper experience real time.
More than 500 retailers in over 90 countries have adopted RetailNext’s analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, eliminate unnecessary costs and mitigate liability risks. RetailNext is headquartered in San Jose, Calif. Learn more at www.retailnext.net.
RetailNext Inc. and RetailNext are trademarks of RetailNext Inc. in the United States.