DMI’s annual survey titled 'What Buyers Want: a DMI Survey' extols the virtues of in-store shopping while acknowledging the colossal impact of Amazon. The exclusive in-depth report summarises consumer practices and preferences under three main headings: The State of Connected Commerce: Why people prefer in-store experiences; how Amazon educates the retail sector and how AI reshapes customer service.
Across multiple browsing and buying scenarios, consumers still prized the convenience, security and hands-on appeal of shopping in stores. But in future, Amazon’s status as an e-commerce behemoth will keep elevating service, selection and content for consumers — training them to expect a certain level of excellence and obliging all retailers to do the same. “Right now the death of in-store retail is a myth,” said DMI’s Michael Deittrick."But Amazon is chipping away at that myth. They already own online retail and distribution. They’re moving into delivery. The only thing they don’t own is in-store retail, and they have all the pieces in place to make that work.”
The question for every in-store retailer in future will be whether it has the pieces in place to save its business. Is it putting AI to work streamlining customer service and optimising people’s in-store experiences, is it deploying advanced analytics and data science for precision-targeted marketing, is it using data to develop a comprehensive understanding of its customers, etc. All of these strategies will be mandatory to keep customers choosing a retailer instead of Amazon. (PC)
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