A recent Oracle study surveyed 4,500 adults across several countries to gather insight into the shopping habits and attitudes of consumers. Its findings weren’t particularly surprising. Consumers are in the driver’s seat, powered by easily accessible information and they’re demanding a seamless retail experience across all channels.
Consumers indicated a higher level of loyalty to retailers providing the information they’re looking for (see above graphic).
As these consumer expectations have risen, tolerance for failure at any point in the delivery of ‘commerce anywhere’ has become paper-thin.
“The balance of power between consumer and retailer has irrevocably changed and the next seismic shift in the market will see the best retailers raising their game to stay attractive and relevant in this new model,” wrote Oracle in a recent posting to RetailWire.com.
They continued, “the (research) findings helped to sharpen the picture of the newly emerging ‘access anywhere, commerce anywhere’ consumer. Based on the results, these shoppers are demanding access to availability, product information and price in a variety of ways — in-store, online and on mobile devices. And as these consumer expectations have risen, tolerance for failure at any point in the delivery of ‘commerce anywhere’ has become paper-thin.”
The study implies that consumers want the option to shop on their terms. Whether that’s gathering information online and purchasing in-store, purchasing online and picking up in-store or any of the other growing number of possible combinations, retailers need to offer these choices without any blips in the customer experience.
As mentioned, this report might not come as news to many retailers, but it definitely helps reaffirm speculations around growing trends in consumer shopping preferences.