The experience is the product!
Time to consume: 4-14 min
3 April 2020
Consumers have more power over your company's success or failure than ever before. Whether your organisation is in the business of fashion, health services, grocery or DIY, delivering a high-class experience will be what makes you a winner.
According to the 2019 Global Consumer Insights Survey, conducted by PwC - in which over 21,000 consumers worldwide participated - the trend is clear: the experience IS the product. Retailers that focus on consumer experience are going to be the ones that survive. Always keep your customers closest to your heart, and build loyalty. That is what will make them come back to you - again and again.
Here are a few interesting findings from the report.
Social media is powerful
We are all social creatures. Great companies know that, they have not only a social media presence – they act with a social conscience. Potential customers spend on average 148 minutes per day on social media platforms, mostly YouTube, Instagram and Facebook. Do you want to reach your potential customers? Give them the possibility to chat with a retailer just like they do with a friend.
Make your store experience offer that little extra
Every step on a customer journey is a chance to create some magic. Let a visit in your store be worth it, by offering that little extra. For example, 62 % of grocery shoppers wants to experience your products physically, consumers are willing to pay more for a premium experience. At the same time, sustainability issues are increasingly influencing shopping behaviour. Consumers are willing to pay more for product attributes such as sustainable brands and organic foods. 42 % of shoppers in the survey avoid plastic packaging when possible.
Let your customers conveniently navigate your store
56 % of European consumers say that the ability to navigate a store quickly improve their in-store experience. This is especially important for DIY, supermarkets or other retailers with a large product range. Information kiosks, endless aisles solutions and navigation apps can give a premium experience. If you use the data that customers share, you also get deep insights on behaviour patterns that help you optimise your store appearance.
Read the full survey: https://www.pwc.com/gx/en/industries/consumer-markets/consumer-insights-survey/2019/consumer-insights-survey.html
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