20 Sep The Future of Retail is More Personalized and More Digital, According to Appnovation Research
Consumer expectations of retailers and the shopping experience have dramatically shifted, altering the digital landscape for the post-COVID future of retail brands.
VANCOUVER AND NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) — According to Appnovation’s latest consumer research, Digital Innovation for the Experience Economy: Retail, over 70% of North American consumers agree that digital technologies have made their shopping experiences more convenient, but only 1 in 5 rate the current experience offered by retailers as ‘Excellent’. This suggests that the majority of people believe there is room for retailers to improve the customer experience (CX), particularly as it relates to ecommerce.
Appnovation’s research measured US and Canadian consumers’ values and expectations as they relate to digital experiences with retailers.
Key findings from the research include:
“Brands need to understand that their consumer experience is going to be compared to other digital experiences outside of their vertical on a regular basis,” said Scott Wassmer, General Manager of the Americas at Appnovation. “The digital world has become the great equalizer of brand experience and that means that your retail experience will regularly be judged against those created by greats like Apple, Google and Facebook.”
A Values-Driven CX is the True Differentiator for Brands
When asked to rank the importance of aspects that make up the online retail experience, price and value emerged as the most valuable across all generations (39%). Ease of usage, including things like easy navigation (13%) and user friendly design (12%), also emerged as top factors of a memorable online experience.
On the other hand, customers’ biggest frustrations in their digital experiences are out-of-date inventory (14%), difficult navigation (11%) and a poorly designed interface (9%).
Many features related to digital interactions have become table stakes. Consumers expect that retailers
will offer competitive pricing and that quality of the product will meet a certain threshold. What is coming through as a differentiator is how easy and convenient the retailers make the digital experience.
The full report can be read here.