Retailers think their stores are improving. Shoppers don’t agree, research finds paid Oracle
, a retail consultancy based in New York, to survey consumers and retail executives in the US, UK, and Australia. The results showed a huge disconnect between consumer expectations and what retailers deliver in range of areas. “The disconnect between what retailers thought they were delivering to the consumer and what the consumers thought they were getting back is eye opening,” said Jason Maynard, NetSuite senior vice president.
While the survey identified many changes, it also found that some things are staying the same: physical stores still matter. Forty-three percent of millennial and Gen Z consumers expect to do more in-store shopping in 2019, and 97% of all consumers say that there is still a need to go into a physical store to shop. The study found that consumers are willing to pay more for a personalized experience that presents them with what they want without being intrusive.
Maynard has seen retailers sometimes get distracted by shiny objects—technologies that promise new ways to understand and serve customers, like artificial intelligence or drone delivery. Too often, though, they lack the data foundation to support cutting edge technologies. “We've got too much siloed technology that's not connecting the data and the process,” Maynard says.
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