Online shopping also appears to be having a big impact on brand and in-store loyalty. There is evidence, for instance, that when walking into shops customers are often finding it difficult to locate employees to assist with their needs. This is seeing many retailers - who are trying to pivot beyond basic personalisation and towards becoming truly experience-centric and experience-led - upping their games by boosting their in-store experiences via various digital means. Trying to connect across the entire customer journey and enable commerce anywhere.
This is hardly a surprise. The opportunities for getting it right - combined with the risks of not doing so - mean that retailers can't afford not take such a leap.
While 77% of respondents claim ‘some’ or ‘significant’ insight into what drives loyalty and retention, however, it is by no means clear whether they have the know-how to deliver against that insight. Also - while technology is key - whether online or in-store, the human element continues to prove to be the magic ingredient.