There is a disconnect between how retailers assess their overall store experience and their digital store experience. While they are satisfied with their overall store experience and operational efficiency, they don’t think their digital experience meets shopper expectations.
With the number of customer and associate mobile devices increasing and more in-store technology deployed, retailers’ lack of network support will be a challenge. A strong network - which supports technology capabilities with peak load management, adequate speed, and sufficient bandwidth - is a prerequisite for stores’ digital transformation.
To move forward, retailers need to visualize the future impact of all the technology they are putting in the store, and evaluate the effect that a poor connection will have on the customer experience and store operations.
As consumers continue to reshape their expectations,
enterprises must contend with a uniquely challenging landscape.
The consumer technology landscape is forever changing.
From Pinterest to TikTok, WeChat to Instagram, new experiences can rapidly gain consumer adoption and relevance.
From augmented reality to voice, smartwatches to chatbots, consumers are constantly embracing new interaction paradigms.
Commoditized convenience is eroding loyalty and margin.
Consumers expect convenience. If you can't deliver it, they'll go elsewhere - e.g. next day shipping becoming the new standard.
Walmart will reportedly lose USD 1 billion on eCommerce revenue of USD 21 billion this year as it faces challenges in its bid to complete against Amazon – from trouble integrating its DNVB acquisitions to impact on margin from its next-day delivery operations.
Consumers value experiences that are curated to fit their lives better.
They want to engage, be served, and transact at their time, their pace, their place. They have little patience, infinite choice and the freedom to swipe left at the slightest hint of friction.