Proliferating touchpoints and the meteoric rise of online-only merchants have forced the retail industry into a race to the bottom. Competition has been fierce to offer the lowest prices, the steepest discounts, and the fastest free shipping — often to the detriment of merchants whose lower order volume can’t make up losses in margins.
The Kibo 2018 Consumer Trends Survey suggests that the tide is turning. In a world where sales and discounts are ubiquitous year-round, shoppers are increasingly looking beyond price to distinguish what sets merchants apart. Among the offerings survey participants identified as crucial to today’s shopping experience:
- Rich online content that incorporates peer reviews and early transparency into inventory and fulfillment options
- Personalized experiences that factor in shoppers’ purchasing history and other past interactions with the brand
- Store experiences that deliver optimal experiences for each shoppers’ needs