Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Canadians to spend less on non-essential goods

Pandemic retail trends may be here to stay

From luxury brands to high-tech gadgets, 55% of Canadian consumers are ditching the latest trends and decreasing spending on non-essential goods and services.

"The consumer was evolving long before the pandemic and the current landscape has only accelerated those changes," says Lokesh Chaudhry, EY Canada Consumer Co-Leader. "We're now seeing new preferences play out across the country as consumers ramp up online purchases, look for contactless transactions and pay closer attention to the environmental impact of international supply chains."

While affordability (54%) and health and safety (40%) are prominent drivers of current consumer behaviour, social and environmental impact of products (47%) is quickly rising. Shoppers increasingly want to know where and how products are made and sourced, and about the real cost of what they buy.

"Revising purpose and recalibrating it towards local and societal needs is a critical first step for retailers hoping to align with consumer values and tap into future demand and growth opportunities," says Ryan Beck, EY Canada Consumer Co-Leader. "Vague assurance won't be enough, either. Businesses will need to invest in supply chain and data capabilities to provide transparency if they want to be perceived as authentic and win over consumer trust."

Preferences for how consumers shop is changing, too, as more look for seamless - and safe - experiences, leading 55% of shoppers to turn to cashless payments as well as contactless purchasing and delivery options. Grocers have perhaps felt this shift the most, with 41% of Canadians who were slow to adopt online grocery shopping pre-pandemic, now depending on the service, making it the third largest household spending category.

"Retailers need to view physical stores and online platforms as one ecosystem, rather than separate channels - that means using an omnichannel strategy to create customer journeys that feel consistent and engaging to the consumer at each step, from acquisition to conversion to loyalty," says Chaudhry. "With back-to-school shopping underway, there'll be many key learnings coming out of the fall that retailers can apply to Black Friday and the holiday shopping season as they begin to creep closer."

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)