Retailers are letting down customer expectations, according to research conducted with over 15,000 respondents by Oracle Retail.
The data revealed that retailers and consumers disagree on many aspects of retail, with the survey finding that although 57 percent of retailers thought that returning items was ‘very easy,’ the same share of consumers thought that returning products was a ‘complete hassle,’ or could be made much easier.
Retailers and consumers were also divided as to what they each thought was the most important in-store experience, with more than half (56 percent) of consumers rating convenience, such as having their size in stock, as the top priority, while only 34 percent of retailers noted it as such.
Consumers also rank discovery, as in space to experiment and try new products (36 percent) and expert advice (22 percent) as important when shopping in-store. This was much higher than retailers who indicated these attributes at merely 18 and six percent, respectively.
Retailers thought that faster shipping of goods was a priority to consumer needs, and while consumers agreed, they also were open to different ways their order could arrive as long as the delivery is fast and cheap. Ninety-two percent of consumers said they would like/love “free one-day delivery by whatever means is most expedient – drone, driverless car, messenger, etc.”
“Consumer expectations are perpetually in flux, with each positive experience setting a new bar for success in retail,” said Mike Webster, senior vice president and general manager, Oracle Retail.
“No matter if they’re enjoying the convenience of ridesharing, browsing through a seamless in-app experience or walking into a brick-and-mortar storefront, customers expect the same calibre of service in all interactions, upping the stakes for retailers as they compete with rival brands and new business models.”
The whole report can be read here: http://oracle.com/goto/settingthebar