The balance of retail power is shifting. The internet has revolutionised the relationship between customers and brands and recast the classic retail model in a new, dynamic, digital light. The old world of retailers selling to customers via physical stores no longer exists in isolation. Today there are numerous channels for consumers to purchase products and services on their own terms.
Consumer buying decisions have become fickle and are now driven by price, recommendation, convenience and loyalty, often in that order.
Choice is the new currency of commerce. Customers now increasingly demand the availability of goods and services 24/7, all year round. They expect delivery to their door or preferred place and at their chosen time. They presume that retailers stock every item in every channel all the time and have few qualms about switching their business, and ultimately allegiance, to a brand that best satisfies their desire for convenience.
We have created a new whitepaper about choice of channels in today’s consumer environment – it covers the following points:
• Omnichannel will redefine retailers’ relationship with consumers
• Customers are more demanding, and more fickle, than ever
• Using co-channelling to embed customer loyalty
• Promoting choice to drive sales
You can download the whitepaper here.