Retailers have a disconnect with their consumers — there are significant gaps between the experiences retailers are delivering and customer expectations, according to Forrester study Aligning Value With Key Capabilities To Drive Retail Success.
Forrester’s study yielded five key findings:
- Retailers are missing the mark with value-added services, but shoppers are willing to help. Disconnects exist between the services retailers offer and the services shoppers are eager and willing to use. However, the study also revealed that shoppers are willing to provide relevant information about themselves, with the expectation that retailers continue to provide improved shopping experiences as a result.
- Traditional value-added services are failing to inspire today’s digitally savvy shoppers. Technology has changed the way in which shoppers expect to engage with retailers. As a result, traditional value-added services have suffered because shoppers’ expectations have increased significantly to a level where greater simplicity, convenience, and faster service are fundamental in winning shoppers’ attention.
- Shoppers are finding value with omnichannel, but retailers struggle with providing consistent crosschannel experiences. Omnichannel services afford shoppers the best of online and in-store purchasing by providing the convenience and prices of online coupled with the immediate fulfillment and service of in store. However, negative and inconsistent parts of the customer journey with these services — such as poor in-store experiences — can reduce customer satisfaction, deterring future use of those services.
- Knowing and understanding the customer is key, but strategies for collecting and using customer data determine success. In order to get customers what they want, where and when they need it, retailers must truly know and understand their customers. On the flipside, most shoppers understand that in order to receive the personalized experiences they want, they have to give a little and share their personal information. However, shoppers are often guarded with their information and desire greater transparency from retailers in understanding how their information will be used. This requires retailers to have a clear strategy for how customer data will be used so that they can clearly communicate to customers how sharing their data will be beneficial to their shopping experiences.
- Retailers must win customer loyalty during every customer engagement. Shoppers consider each brand engagement to be a moment of truth, and as such, retailers must provide ongoing and consistently positive shopping experiences that will keep customers coming back time and time again.
Read the full report.