Retail and Consumer
Personalizing the retail experience
Canadian Total Retail 2016 Report
Canadian Total Retail 2016 key insights
In Canadian retail, the only certain thing is change.
New technologies continue to shape customer demands and retailers are hard-pressed to keep up with this evolving culture. Canadian shoppers are already thinking and shopping in omni-channel dimensions, and so retailers are looking to change their model into a personalized approach to better meet ongoing expectations and, ultimately, enhance the customer experience.
We hope the insights highlighted in this year’s report help you to figure out where to start on your Total Retail journey.
“The whole social part of shopping is really important. Sometimes we don't have the incentive to buy anything, but then we go to the store together because it's fun, and we end up buying something!”
Carmen, Millennial shopper
Explore the survey through the total retail journey
Almost 40% of consumers under the age of 34 say that interactions with their favourite brands through social media have driven them to respect and value those brands more.
Key trends: Engage Retailers should aim to interact with and influence customers on their terms by using the power of social media and providing an engaging community. Customers want a seamless experience that recognizes them across channels. They’re looking for a platform that builds loyalty, rewards them for being involved with their favourite brands.
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63% of Canadian millennials are likely to buy online from an out-of-country retailer over the next 12 months because they can get better prices.
Key trends: Offerings We may live in the age of value—but price is still king. Ensuring offerings fit within the needs and lifestyles of customers can be critical to developing long-term sustainability. Customers expect individual attention—tailored products and services and personalized messaging, interactions and promotions.
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42% of millennials buy online monthly.
Key trends: Channels Canadian consumers are far ahead of retailers when it comes to how they approach the shopping experience. Their shopping journeys cross many channels—in-store, online and mobile—on the way to making a purchase. Retailers can no longer think about each channel separately.
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81% of Canadian consumers said that having a paid-return label provided with shipment was the most important return option for them.
Key trends: Support To meet customer demands for personalization while remaining efficient, retailers might want to adjust their current organizational structure by building new capabilities, upgrading technologies and creating links between what may have been previously siloed channels.
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Total Retail in action
Are you using technology to its fullest to deliver a unique in-store experience?
Are you providing customers with the ideal platform for them to share their interests and ideas?
Are you providing a real-time personalized experience to your customers?
In the news
BNN: Retailers readjusting to attract millennials
Watch our Retail & Consulting partner Ted Salter as he is interviewed by Michael Hainsworth about the insights presented in the Canadian Total Retail 2016 Report. He touches on the rapid change in Canada's retail sector and how an open dialog with consumers means increased brand loyalty.
Marketing Magazine:
Canadian retailers failing to deliver on personalization:PwC
TechVibes:
In Canadian retail the only certain thing is change.
EMarketer:
In Canada, Millennials Reward Member Perks with Loyalty.
Strategy Magazine:
How Canadians decide what to buy.
The Street:
Millennials and Technology Transforming Canadian Retail Landscape.
Contact us
National Assurance Markets Leader & Oakville Managing Partner, PwC Canada
Tel: +1 905 815 6500
