Connecting with today’s consumer
Building brand value
Consumers have embraced digital media and are increasingly confident about interacting online. More than half of UK consumers currently own a smartphone and adoption of technology is growing at an exponential rate. Digitally influenced shoppers spend more per transaction than “store only” shoppers and are worth 44 percent of all (non-food) sales. They are also more loyal with 46 percent willing to share personal data with retailers in exchange for special offers. In the next decade, up to 50 percent of all UK retail sales will be influenced by mobile.
Consumers are turning to their peers or communities online for advice and to share information and opinions, for example, 44 percent of the UK population has used price comparison websites. Consumers are increasingly expecting to engage with brands in a more experiential way that resonates with their personal values. They are exercising their increased power by demanding more involvement in customising experiences and products.
Direct sales routes to consumers are growing fast for consumer products businesses, whether via dedicated physical retail stores or remote sales channels such as websites or mobile apps. Getting this right can bring significant benefits in terms of margin, insight and brand control.
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