Home / Knowledge / News / Retail / Huge disconnect in retailers & consumers expectations

Huge disconnect in retailers & consumers expectations

28
Jan '19
Huge disconnect in retailers & consumers expectations
Retailers and consumers are on different page despite significant investments in enhancing customer experience online and in-store, says a recent report. 73 per cent of retail executives believe that overall environment in retail stores has become more inviting in past 5 years, agreed by only 45 per cent of consumers with 19 per cent saying it has decreased.

The report prepared by NetSuite in partnership with Wakefield Research and The Retail Doctor Bob Phibbs, surveyed 1,200 consumers and 400 retail executives from three global markets in US, UK and Australia.

“73 per cent of retail executives believe that the overall environment in retail stores has become more inviting in the past 5 years. Only 45 per cent of consumers agree, with 19 per cent stating it has become less inviting,” said the report by Netsuite.

“80 per cent of retail executives believe that consumers would feel more welcome if instore staff interacted with them more. Less than half (46 per cent) of consumers agree, with 28 per cent noting they would feel more annoyed. 79 per cent of retail executives believe chatbots are meeting consumer needs. Two thirds of consumers (66 per cent) disagree, with respondents noting that chatbots are currently more damaging to the shopping experience than helpful. Almost 98 per cent of retail executives think that engaging with customers on social media is important to building stronger relationships with them, agreed by a very low percentage of consumers (only 12 per cent),” the report added.

Nearly all (97 per cent) of consumers agree there is a need to go into a physical store to purchase items and the majority (70 per cent) believe that the most appealing retail stores have features that simplify and streamline the shopping experience. The top technology advancements that consumers want to utilise when shopping in store or online are self-checkout kiosks (38 per cent), virtual reality try-on (23 per cent) and mobile payments (15 per cent).

The report concluded that consumer expectations are rapidly changing which is making it incredibly hard for retailers to keep up. While the retail industry is often considered to be at the forefront of consumer experience innovation, there is still a long way to go to meet shopper expectations. The tech chosen for utilisation in a business needs to be adaptable and agile to succeed. Building personalisation, shopper loyalty and trust comes through embracing the technologies that are going to grow with a business and live up to the change that today’s on-demand economy requires of the business. (PC)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 28th Sep 2021

California 1st US state to require hourly wages for garment workers

Taking historic and decisive action to help keep workers safe on the...

Pic: ADB

Textiles | On 28th Sep 2021

ADB approves $250-mn loan to support Bangladesh’s economic recovery

The Asian Development Bank has approved a $250-million policy-based...

Pic: Shutterstock

Textiles | On 28th Sep 2021

US 2020-21 cotton exports highest in 15 years

Spurred by record global imports, US cotton exports in 2020-21 were...

Interviews View All

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&amp;S,...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search