How retailers can compete in the race for relevance
In a world where mercurial shoppers are easily bored and yesterday’s new invention is already obsolete, retailers are racing to stay relevant with consumers.
Our Total Retail survey this year confirmed the imperative for relevance in relatively uncharted territory such as mobile commerce and online social communities, as well as in traditional retail and consumer mainstays such as brand equity and the in-store shopping experience. Our national survey data is part of an overall global survey of 23,000 online consumers, which allowed us to analyze how shopping behavior in the US compares globally and identify the top trends to watch.
Shoppers in the US told us they want convenience at an affordable price. They want a trip to the store to be worth the effort, with trained employees to help sort through options—because they could just as easily go to a movie or stay home and shop online. They want to feel an emotional connection with their favorite brand because it stands for the values they believe in. And they want to be part of a larger online community where they share ideas and aspirations.
“The quality of the staff has mattered in retail, even more so now as retailers try to differentiate their in-store offerings. Especially with an enormous product selection and fast-changing technology, having a human being available to explain the various options makes all the difference.”