Part 1: Finding Out What Customers Need and Want
The willingness of customers to use the emergence of new digital technologies has disrupted the retail industry at virtually every level. The IBM Institute for Business Value has released a comprehensive report on the emergence of this technology-enabled “smarter consumer” and how business can adapt to these sweeping market shifts.
The report, “Shoppers Disrupted” is based on cumulative research over the past five years and 110,000 survey responses, and reveals how the speed and intensity of customers’ changing behaviors translate into “must-haves” for retailers. The report also gives tangible recommendations that can enable retailers to position themselves to slice through this disruption and provide seamless customer experiences and conversations that can help build customer loyalty, create value and positively impact the bottom line.
For the retailer, the challenge has become about understanding the full potential of new technologies – of knowing what customers need and want. Those organizations that understand and respond to the shifting retail dynamic can place themselves in a position to capitalize on the wealth of consumer information at their disposal. On the other hand, retailers that continue down the traditional path are likely to falter in the face of continued shopper-driven disruption.
In this 4-part blog series, we’ll report on some of the most compelling and relevant discoveries and recommendations contained in this report. Source: IBM Institute of Business Value Report.
Part 2: Shoppers Send Clear Messages About Expectations
Part 3: Willingness to Share Information is Growing
Part 4: Recommendations