The Path to Purchase Institute held an informational webinar on July 21, 2016, called “Mastering Customer Experience to Engage Today’s Digitally-Savvy Shopper.” Meghan Holmes of HelloWorld and Brendan Witcher of Forrester Research led the discussion on the shifting focuses of retailers.
According to Holmes and Witcher, companies used to control everything: information, pricing, location, etc. Now, technology has taken control. Customers constantly use their mobile phones and tablets in the shopping process. Digitally-savvy, social customers are looking for brands to understand them. The gap needs to be filled between what you know about the customer and what you think you know about the customer. Companies must accelerate their digital aspects and shift from being a business with digital savvy to a digital strategy business. Though working on digital strategy does not necessarily mean that companies should focus on ecommerce. While ecommerce is rapidly growing in popularity and evolving with the internet of things (IoT), online transactions make up only 1% of purchases. Impressing customers in the store is still essential.
This includes a great experience while customers are shopping. Seventy percent of business leaders in one survey answered that improving customer experience is their top priority, with reducing costs and the ability to innovate coming in as lower priorities. There must be a coordination of experiences across channels that is seamless and consistent. Many products are similar, so the competitive difference in brands and retailers has become the shopping experience rather than the product itself.
While CPG companies and retailers have many differences, they have common goals in differentiating themselves, driving sales, and exceeding the expectations of shoppers. When they collaborate on these goals, it is mutually beneficial in improving the shopper experience, bringing customers back to the brand as well as the retailer.
Want to find out more about shopper experience and in-store intelligence? Check out our ebook on shelf health and the ways mobile market research allows you to measure what you can’t see.
Contributing Writer: Chris Angell