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)

Ways for retailers to reach today's smarter shopper

The study found that 8 out of 10 global shoppers' purchase decisions are now informed by a digital device, with consumers saying they are smarter shoppers and getting more value than before. However, though in-store sales still account for more than 90% of all retail spending, the result is a more focused in-store shopper buying from a narrower list of unique stores than in years past.

"Getting smart about smart shoppers is paramount to a retailer's success, yet shoppers consistently report they're frustrated that retailers don't get it," explained Mathieu Loury, senior vice president of Merchant Solutions for MasterCard Advisors, the professional services arm of MasterCard. "The good news is that the solutions exist to both analyse and answer these expectations-meeting your omnishoppers every step of their empowered journey, and creating an ecosystem that propels them forward."

The 'Retail CMO's Guide to the Omnishopper' combines survey data from thousands of shoppers around the globe with transaction-based insights from MasterCard. Key findings from the study included:

• Technology use in shopping is almost universal: Eighty percent of consumers report using technology during the shopping process, such as smartphone apps for price checks, "lick and collect" services to buy online and pick up in-store, and in-store technology to research or order a product. In addition, six out of 10 are doing more research online today than two years ago.
• Bricks and mortar stands strong: The omnishopper chooses physical stores for better customer service and a faster, more social buying experience. This might be a contributor to e-commerce's relatively flat growth as a share of total retail sales (7.5% globally).
• Consumers want specific inventory, and a seamless experience accessing it: today's shoppers know what they want. The top frustration - cited by 73% of respondents - is items not being in stock, underscoring the importance of inventory management for retailers.
• Consumers feel smarter and get more value: 80% of global consumers claim to be getting more value, both in-store and online.
• Merchants are primed for omnishoppers' loyalty: despite having nearly endless choices a click away, only 26% of shoppers like to try new merchants. This can pose a challenge for retailers trying to attract new customers. Just 20% say technology has led them to consider a new retailer.

When looking at consumers around the globe, Brazilians were the most ardent researchers. In markets like the UK and US, the more consumers research before shopping, the fewer stores they visit in the physical world,.

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)