Understanding consumer behaviour is essential for staying competitive.
The “Connected Consumer 2024” report from Drapers gives us a peek into the future of retail. Here’s what you need to know and how to make the most of these insights to benefit your business.
Shoppers are all about immersive digital experiences now. AI, AR, and VR are no longer just buzzwords—they’re what consumers expect.
These technologies make shopping more fun and personalised. Retailers should invest in these innovations to make online stores more engaging, which can lead to higher conversion rates.
Today’s shoppers want a personalised experience. They expect their shopping journey to be tailored to their preferences and past behaviour.
By leveraging data analytics, retailers can understand what their customers want and deliver personalised recommendations and marketing messages.
This approach keeps customers happy and loyal, driving sales and increasing customer lifetime value.
Yes, we’re all still talking about sustainability, and rightly so.
More and more consumers care about the environment. They prefer brands that are transparent about their sustainability efforts.
Retailers need to adopt and communicate eco-friendly practices clearly. This builds trust and attracts green-minded shoppers, who are often willing to pay a premium for sustainable products.
Shoppers expect a seamless experience, whether they’re online, in-store, or using a mobile app.
Retailers must create a smooth omni-channel experience that keeps their brand consistent across all platforms. This includes integrated inventory management, real-time stock updates, and flexible delivery and return options. A seamless omni-channel approach can enhance customer satisfaction and loyalty.
Engaging content is crucial in the age of social media.
Live shopping events, influencer collaborations, and interactive content can grab customers’ attention and boost sales.
Retailers should invest in creating compelling content that not only showcases their products but also connects with their audience on a deeper level.
Data is your best friend when it comes to understanding your customers and optimising their experience.
Retailers should use data to drive their strategies, from A/B testing to analysing customer feedback. This ensures continuous improvement and better conversion rates.
The “Connected Consumer 2024” report highlights the need for retailers to stay agile and adapt to new trends in technology and consumer behaviour. By integrating advanced tech, offering personalised and sustainable shopping experiences, and maintaining a strong omni-channel presence, retailers can stay ahead of the game.
Check out the full report on Drapersonline for a deeper dive into these trends.
By staying informed and adapting to these types of insights, retailers can be better placed to meet the evolving needs of their customers and get an edge on the competition in a changing market.