Got a great product range, strong service and good quality credentials? If your customer engagement is lacking, the longevity of your business is in-doubt.
The report looks at the current global retail climate and highlights four key trends that are reshaping consumer expectations in 2020 and beyond. As well as highlighting these trends, BJSS’ retail team has given examples of retailers who have followed this trend well and others which haven’t.
- Retail Activism – many retailers are now taking a stance and speaking out on many of society’s most debated issues. This is an attempt to demonstrate their morals as a company and to attract consumers who align themselves to similar beliefs.
- Futuristic, but not for long – brands can use Artificial Intelligence and Automation (or A-commerce as it’s also known) to make it easier for customers to shop by predicting what they will want, before they even recognise that they want or need it themselves. But voice will not fulfil its potential as the next major purchasing channel.
- Emotional Connections – brands should focus on winning customers’ trust to be able to generate long-term loyalty – not just by ensuring that their data is safe, but by providing the most relevant recommendations and always delivering on service and fulfilment promises.
- Personalisation – customers are now engaging with retailers across multiple channels, platforms and devices, so the opportunities offered to those capturing such a wealth and breadth of data are staggering. From machine learning to AI, retailers can create a more holistic view of who their customers are, what they value and how their needs can be met.