Retail Economics report 2024
Learn about the surprising shifts happening in consumer shopping behaviors and why retailers need to rethink their segmentation strategy, derived from our survey of 2,000 UK consumers in collaboration with Retail Economics.
Leveraging proprietary data from Retail Economics and a survey of 2,000 nationally representative UK consumers, this report highlights the challenges and opportunities retailers face as multigenerational consumers switch between multiple channels.
56%
of respondents felt their CX lacks personalization
27%
of shoppers feel comfortable with chatbots and AI-enabled communications
Our study also debunks the need to rely on generational theory and income brackets in segmentation. As a result, there’s a disconnect between retailer-to-customer communication and vice versa.
Key findings:
- Digital shoppers are demanding: The least tolerant shoppers are predominantly those who shop online, underlining the significance of catering to the expectations and preferences of digital consumers.
- Understanding shopper personas: There is no one-size-fits-all approach in retail, emphasizing the necessity of understanding and catering to our diverse shopper personas to effectively meet their needs and preferences.
- Pain points in the customer journey: Identifying and addressing the top pain points in the customer journey is paramount for enhancing satisfaction and retention. Our research found the top five issues to be paying for returns, stock availability, poor communication, lack of delivery options, and order tracking.
Download our report to gain valuable insights that will help you navigate the complexities of the retail landscape and enhance your customer experience strategies.
Discover more about shifts in retail communication
Omnichannel retail strategy for transformed customer experiences
Transform customer experiences with this omnichannel retail strategy for improved customer journeys and a smoother path to purchase.
The retailer’s guide to customer engagement
Learn everything you need to know about customer engagement and how retailers can drive success a digital world.
How retail chatbots can personalize shopping experience for customers
Learn how retail chatbots have become increasingly popular and revolutionized how brands interact with their customers.
