Christmas 2017: The Modern Shopper
Today’s consumer is more organised and thoughtful, researching options and prices online before they commit to a purchase. They have more appreciation of price flexibility, and how prices change in the run-up to discount days like Black Friday. They will abandon items in their basket if they discover the same product available at a heavier discount somewhere else, or discover high associated shipping costs or have a bad online experience.
It means there is less loyalty to brands unless it is reinforced by personalised offers and a positive customer experience. Retailers increasingly need to understand their customers to deliver the service they’re expecting, and accurately forecast demand to ensure they have enough of each product at the right price to optimise profitability.
This report looks at the challenges facing retailers from modern shopping habits and where the opportunities are to extract insights from data. These will be key to survival in an increasingly competitive environment.
*Research by OnePoll