This marked the first time we asked consumers to identify their research preferences. In our most recent survey, consumers told us that they begin by scouring the internet to amass information about a particular product or service, compare prices, read reviews and consider retailers. This is followed by a series of pre-purchase behaviours, usually technology-enabled, that ultimately result in experiences they regard as frictionless and effective. The decision-making starts when they reach the point of deciding they need to make a purchase. By the time they unload their shopping cart-either at the end of an in-store queue or on an e-commerce website-they have already made a lot of crucial decisions. And by doing so, they can contribute to a more efficient, responsible and profitable marketplace. What follows will amplify the voice of the consumer in areas that have long been important, but that are evolving against a backdrop of heightened pressure and innovation: how to leverage technology such as generative AI and chatbots where to invest in customer relationship management (CRM), mobile apps and social media where to build out direct-to-consumer (D2C) and subscription capabilities how to meet customers where they are on issues of environmental, social and governance (ESG) and sustainability and where to capture growth in consumer spending in the coming months.īy bringing greater focus and resources to the point of decision, businesses can get closer to their customers, fostering both paid and earned loyalty. This June edition speaks directly to removing frictions before the purchase experience, and offers a road map on how to reach consumers at crucial points of decision. The theme of the previous Global Consumer Insights Pulse Survey, published in February 2023, was removing frictions at the point of sale or in the purchase experience. Our June 2023 Global Consumer Insights Pulse Survey of 8,975 consumers in 25 countries and territories reinforces a clear imperative for companies seeking a competitive advantage: empower your consumers by providing them with the necessary tools, information, technology and support for their decision-making. In a world where it’s hard to get more out of existing consumer spending, converting or finding new customers takes on new urgency.
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