Today's consumers don't get excited about multichannel retail: They expect it. Convenient physical locations, websites that enable them to find and purchase products, a mobile site or app - these are now the price of entry for retailers.
Our survey participants of more than 15,000 consumers in Canada and around the world who took part in our latest global survey are very clear on what they want. A brand they can trust; consistent, seamless prices and offerings across retailer's assets; and the ability to see a retailer's entire product inventory in real time. Meeting these expectations holds major implications for retail business models.
In this report, we highlight 4 customer expectations and the business model implications to retailers so they can make informed decisions on what they need to do in order to continue to serve their customers in the most effective way. The business models in use today no longer align with retailers' increasingly sophisticated, demanding customers. New thinking is needed. The retail business model must evolve, and quickly.