Latest News  

Global Research identifies three consumer Personas and opportunities for technology, personalization to innovate the retail experience

Oracle announced the 2017 findings of global research that audited 15,607 consumers across four key regions: EMEA (France, Germany, Italy, India, Spain, Sweden, UK) NA (Canada, USA), LAD (Brazil, Chile, Colombia, Mexico), and JAPAC (Australia, China) on their retail preferences and attitudes.

2017-09-25 22:01:20

Findings in the Retail in 4 Dimensions: Understanding Consumer Behavior in an Age of Relativity report highlighted three personas demonstrative of consumer behavior. It also revealed opportunities for retailers to identify the customer experience with personalization, mobile payments, automatic replenishment and virtual reality. The research insights indicate that consumer preferences for delivery, returns and self-service established with ecommerce have taken hold in a global, omnichannel environment.

Three Shopper Profiles emerge

As digital innovation continues its radical rearrangement of the retail landscape, three consumer behavior macro trends emerge globally in the report: a fully omnichannel consumer taking advantage of a mix of digital and physical engagement points; a savvy shopper looking for new, innovative and technology-driven retail experiences; and a price conscious hunter always searching for the greatest value for money.

"In order to leverage these behavior trends and successfully reach these consumers, brands need to innovate on three fronts," said Ray Carlin, SVP and GM Oracle Retail. "They need to truly know their consumer to personalize their experience and embrace Omnichannel excellence as an enterprise discipline while create capacity for innovation."

The Nomad is a nimble shopper who is not loyal to a brand nor a channel and will examine multiple options for researching and locating products before making a purchase.
In the research:
• 42 percent of consumers are now shopping both online and in-store every week
• 73 percent want to return online purchases to a retail store
• 55 percent want to check product stock on their mobile while in-store

The Player uses technology to fuel and guide their shopping experience and look for brands that re-invent the customer journey.
In the research:
• 44 percent of families noted that virtual sales assistants are important
• 35 percent like the idea of near real-time delivery via drone or driverless car
• 43 percent love the idea of being able to 3D print custom fashion

For The Dealer the thrill of the win and discount drives their shopping behavior.
In the research:
• 84 percent say that competitive pricing and promotions first and foremost are the most important aspect of their shopping experience
• 65 percent say personalized offers and promotions are most important to them in their shopping experience
• 50 percent want real-time offers online depending on what they're browsing at that moment

Opportunities for retail innovation identified in six key trends

In the Retail in 4 D: Understanding Consumer Behavior in an Age of Relativity report consumers have clearly identified technology's role in establishing new global standards for the retail community. These include a common expectation for returns and delivery, a desire for mobile payments self-service and opportunities for personalization.

"As consumers reinforce these trends through purchase behavior, cloud infrastructure will play a more critical role by delivering innovation faster and enabling the retail community to keep pace with existing expectations and experiences," said Jeff Warren, vice president strategy, Oracle Retail. "What continues to be true is the rising expectations and anticipated evolution of a fully omnichannel shopping experience. Retailers can't afford to delay adopting cloud solutions that enable a single perspective of consumer behavior across offline and online storefronts."

Navigating Personalization and Privacy

• 67 percent of consumers stated that they did not wanting to set up an account for e-commerce checkout and at the same time 57 percent want instant one-click checkout that can only be enabled through creation of a payment profile
• 29 percent would find offers based on ‘social media' data ‘creepy'
• 52 percent want personalized offers in-store based on personal data from their store loyalty account

Fashion Driving Store Traffic and Personalization

• 83 percent of consumers indicated that they shop in-store at least once a week, and for fashion 7 percent of respondents shop in-store every day and 22 percent shop in-store several times a week
• 50 percent of millennials and pre-millennials think 3D custom printing would be very engaging
• 40 percent of consumers browse or buy fashion online at least once a week

Faster, Smarter Payments and Self-service
• 56 percent say self-checkout machines are important to them
• A majority of millennials noted the ability to research and reserve items for in-store pickup on the same day (65 percent) and next day (58 percent) as important
• 60 percent want mobile payment options in-store with millennials (67 percent) and pre-millennials recording a stronger preference in particular

Simplifying the Returns Process
• 82 percent want the ability to return an online purchase with free shipping
• 34 percent of consumers want returns windows exceeding 30 days
• 70 percent of consumers want free 2-day shipping on all purchases

Auto Replenishment and Grocery Recommendations
• 48 percent think online automatic replenishment would be important to their experience in the future
• 33 percent think it would be ‘creepy' for supermarkets to ship grocery items based on purchase, social and environmental data
• 40 percent think it would be ‘awesome' if supermarkets use technology to ‘suggest' a shopping list without automatically charging for it

Opportunities for Emerging Technology
• 48 percent of consumers want to use virtual reality at home to navigate a personalized in-store experience and receive home delivery and 48 percent would use virtual reality to prepare a curated wardrobe to be picked up in-store
• 39 percent think robot assistance would be ‘creepy' and the sentiment is shared across age groups
• Millennials (42 percent) and families (43 percent) showed the greatest interest in delivery by driverless car or drone


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
Microsoft report: Romania registers average malware attack rate of 7.46 per cent, over European average

Romania reached a 7.646 per cent malware attack rate in 2018, 2.13 per cent higher than the average European rate, according tot eh 24th edition of Microsoft Security Intelligence (SIR), released recently.

 Read Full article »
Blockchain StartUp Swazm signs partnership with Maguay, one of the biggest server and storage suppliers in Europe

Romanian Blockchain company Swazm has signed a partnership with Maguay, one of the biggest server and storage suppliers in Europe. The objective of the partnership is to expand the Swazm blockchain network by u

 Read Full article »
Deloitte research: Learning, employee experience and leadership, the main topics on human capital agenda in Romania

Continuous learning for skills development, leadership development and improving the employee experience are the most important and urgent among the trends identified by Deloitte 2019 Global Human Capital Trend

 Read Full article »
Oracle: Shifting toward a whole-enterprise cloud

Cloud technology and its adoption have been transformative for nearly every business, industry, and product. From running applications that are always-on and available, to limitless infrastructure scalability,

 Read Full article »
CBRE takes charge of the operations of NEPI Rockcastle's office portfolio in Bucharest

CBRE, the world and local market leader in real estate consultancy, was mandated with the property management of NEPI Rockcastle's office portfolio in Bucharest, consisting of three emblematical buildings: Flo

 Read Full article »
KPMG launches an application enabling real-time feedback of employees and managers

KPMG launches an application enabling real-time feedback of employees and managers

 Read Full article »
ABSL GALA AWARDS celebrated its winners last evening at Bucharest

As the voice of the business services, ABSL has created the ABSL Awards with the purpose of recognizing the most innovative, impactful and valuable projects and initiatives of the business services industry ove

 Read Full article »
Medium-sized companies relocate from class B to class A-offices in Timisoara

The office market in Timisoara witnesses a new trend: the relocation of companies from class B spaces to class A and the increase in attractiveness of modern office projects for firms with less than 50 employee

 Read Full article »
PropTech Romania organizes a hackathon in Bucharest, dedicated to real estate industry

Proptech Romania, the first Romanian innovation platform dedicated to the real estate market announced it is organizing the first European Real Estate Hackathon, in Bucharest, on the 12-13 April, an event that

 Read Full article »
AROBS Transilvania Software acquires HR software provider UCMS Group Romania

AROBS Transilvania Software, a specialized provider of outsourced business solutions based in Romania, is to acquire human resources management business, UCMS Romania from TMF Group, on DATE, subject to regulat

 Read Full article »
 
 
 
MOST READ ARTICLES
» Huawei opens a centre on cyber securit...
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» Romania ranks above EU average in gend...
» Bucharest, in the top of cities in Eur...
» Berg Software Romania: Reasons to outs...
» Meet the experts who will decide the w...
» KPMG launches an application enabling ...
» Bogdan Pelinescu, president of ABSL: A...
» ABSL GALA AWARDS celebrated its winner...
» George Rotariu, CEO Bitcoin Romania: B...
 
EDITOR CHOICE
Catalina Dodu - Meet the speakers at Romanian Business Services Forum 2019 CEO LEADERS DEBATE, on May 7

Catalina Dodu runs the operations of Atos Romania since March 2014, with an experience of over 15 years in IT management. Previous to being appointed Country Manager, Catalina managed the System Integration div

 Read Full article »
Philippe Beucher: Meet the speakers at Romanian Business Services Forum 2019 CEO LEADERS DEBATE, on May 7

Philippe Beucher is the Managing Director of Accenture Operations – Danubia Region, leading the Operations entity for Romania, Czech Republic, Slovakia and Hungary starting from February 2019. For the past 1

 Read Full article »
Meet the speakers at Romanian Business Services Forum 2019 CEO LEADERS DEBATE, on May 7th - Matthieu Pasquier

Matthieu Pasquier is CEO of Societe Generale European Business Services since August 2018 bringing more than 27 years experience in Societe Generale group. During 2014-2018, Matthieu was Head of SG GSC Chennai

 Read Full article »
Sorin Mindrutescu among the speakers at Romanian Business Services Forum 2019 CEO LEADERS DEBATE, on May 7th

Sorin Mindrutescu is the Country Leader for Oracle Romania, as of February 2003. In this role, he is responsible for local sales and project delivery. In Romania, Oracle has two major business directions: the l

 Read Full article »
Meet the speakers at Romanian Business Services Forum 2019 CEO LEADERS DEBATE, on May 7th - Vivek Bakshi

Vivek Bakshi is the General Manager of Wipro Technologies. He has spent 12 years heading the International Locations / Delivery Centers Europe from the Bucharest office.

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area | GDPR policy
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events