CX: DO OR DIE SARAH LOVE L E A D E R S C O N G R E S S I R I S H R E T A I L L A N D S C A P E 2 0 2 3 E C R
TECHNOLOGY
WHAT ARE THE KEY ISSUES FOR THE RETAIL LANDSCAPE?
OF RETAIL MARKETING EXECUTIVES IN US AND UK SAY THEY WOULD USE ARTIFICIAL INTELLIGENCE OR MACHINE LEARNING THIS YEAR. 86% YES 14% NO
CONSUMERS SEE TECHNOLOGY AS AN OPPORTUNITY TO LIVEN UP THE OVERALL SHOPPING EXPERIENCE 19.7% of consumers said virtual / augmented reality and interactive signage as well as in-store robots are technologies that they would like to see their favourite brands use.
ELIMINATE OR REDUCE RETAIL PAIN POINTS
CUSTOMER EXPERIENCE
Less than half are satisfied with most elements of the in-store shopping experience
CX ISN T EASY
IN A 2017 KPMG STUDY: TOP 25 CX LEADING BRANDS WERE BRINGING IN 7X THAT OF CX LAGGARDS
SOURCE: TNS GLOBAL DATABASE OF RETAIL AND SHOPPER STUDIES HAPPY SHOPPERS SPEND MORE
ELEMENTS OF CX
REINVENT THE RELATIONSHIP
WE NEED TO MAKE THE FIRST MOVE!
STEP ONE RELATIONSHIP MARKETING
IT S NOT THE DATA THAT MATTERS, IT S HOW YOU USE IT
BIG DATA ANALYTICS ALGORITHMS
WALMART Walmart is making use of facial recognition to identify shoppers who are unhappy or frustrated. That data can then be used to tell associates to open new checkout lines. Source: Vend, Vend s Retail Trends and Predictions for 2018
HAPPY EMPLOYEES MEAN HAPPY CUSTOMERS
INSPIRED EMPLOYEES DELIVER LEGENDARY EXPERIENCES FOR CUSTOMERS
OFFLINE STORES REMAIN KING
OF SALES STILL GOING VIA OFFLINE STORES
PERSONALISE
OWNING RENTING
GEN Z / MILLENNIAL MEGATRENDS BACK TO BASICS DIGITAL DE-TOXING VALUE OF EXPERIENCES
LISTENING TO YOUR CUSTOMER GENERATES PAYBACK
BRICKS AND CLICKS
SHOPPERS SWITCH SEEMLESSLY BETWEEN ON AND OFF LINE
ANYTIME ANYWHERE
SOURCE: E-CONSULTANCY 2017
Not to serve the needs of different shoppers, but rather to serve the different needs of a shopper
MCOMMERCE
INITIAL INTERACTION RIGHT TO A SALE
By 2020, 30% of mobile users will experience engaging rather than transactional interaction via mobile app SOURCE: IDC FUTURESCAPE: WW CX 2018 PREDICTIONS
Continuous mobile experiences than span in and out of store The True Path to Purchase In the shoppers consideration until the precise moment or truth and indeed beyond
⅔ of the worlds population owning a mobile and over 50% being a smartphones
NOT VERY SOCIAL, SOCIAL
50% use social media as way to keep in touch with friends and family
42% use social media for funny and engaging content
51% 48% 37% 25% watched read content clicked on a post to read news article listened to / discovered music purchased a product / service via social media SOURCE: (GLOBAL WEB MONITOR)
SOCIAL IS NO LONGER MERELY SOCIAL
% WHO SAY THEY HAVE MADE AN EFFORT TO DECREASE THEIR DAILY TIME SPENT ON SOCIAL MEDIA COMPARED TO LAST YEAR 58% 58% 43% 37% 25% 16-24 25-34 35-44 45-54 55-64 SOURCE: GLOBALWEB INDEX 6-10 SEPTEMBER 2018
SOCIAL MEDIA IS COMING OF AGE
% WHO SAY THEY WOULD BE COMFORTABLE IN USING SOCIAL MEDIA NOW OR IN THE FUTURE FOR THE FOLLOWING ACTIVITIES 61% 52% 44% 43% Entertainment News, opinions & current affairs Reading / leaving reviews on brands / products Researching products / ideas 43% 37% 31% Buying / selling products Staying in touch with brands / celebrities Activism / community events
Missguided saw a sales spike of 40% when the show was on air Once an islander wore a product its sales spiked from 300 500% During the campaign period 18% of sales came from product worn by the Islanders Ad awareness score increased from 13% to 20%
THE RISE OF SCOMMERCE
NOT DR A CLEVER BLEND OF CONTENT CONSUMPTION / ENTERTAINMENT AND COMMERCE
THE IDEAL SHOPPER JOURNEY WEAVES YOUR BRAND INTO THE ENTIRE EXPERIENCE
SOCIAL IS THE NEW SHOPPER TOOL
CX TIPS TOWARDS 2023 Re-invent the Relationship Empower your employees to strive for better Customer Satisfaction Make the Physical Experience of buying your brand GREAT Be truly Omnichannel to compliment the seamless Flux between On and Offline Shopping Plan for Mobile Embrace Scommerce by getting the balance right between sales and content
Successful brands don t make people want things. They make things people want.
Start thinking about what your Shoppers want. Then make some great plans to give them the very best CX.