The shopper of the future: brands failing to match customer’s needs

21/06/2019

Brands universally underestimate the issues their customers experience the most, with long checkout lines, low inventory and customer wait times topping the list of shopper peeves, according to new research.

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The research, from Elastic Path, exposes a deep disconnect between what B2C marketers think modern consumers want and what they actually crave from brands.





























Customer pain point   Percent of shoppers who experience this issue Percent of brands that believe this issue is a pain point
Long checkout lines 57% 35%
Lack of inventory 55% 32%
Customer service wait times 42% 36%
Uninformed staff 38% 20%

 

The report, called “The Sci-Fi Shopper: How to Future Proof Your Brand for the New Customer” also reveals a gap between the feature or technology customers use – or want to use – and what brands actually offer.





























Feature Percent of customers who want to use it Brands that offer it
Checkout-less payments 67% 18%
Voice commerce 57% 23%
Smart devices 58% 25%
Facial recognition 55% 20%

 

Brands invest heavily in trying to solve problems with technology, to the tune of $210B per year. They think they’re doing well in delivering tech-savvy retail experiences, but their customers disagree. Brands surveyed in Elastic Path’s report rated their offerings in “futuristic” shopping a 7 out of 10. Customers rated them a mere 4.

“This report is a timely reminder that consumer needs are simple: They want to save time and money,” said Harry Chemko, CEO of Elastic Path. “Customer loyalty really comes down to listening to your customers and solving simple problems.”

Consumers are willing to buy with new technology, but brands aren’t delivering

Elastic Path’s research reveals a gap between the features customers use — or want to use — and what brands actually offer:

 





























Feature Percent of customers who want to use it Brands that offer it
Checkout-less payments 67% 18%
Voice commerce 57% 23%
Smart devices 58% 25%
Facial recognition 55% 20%

 

There’s a lot of potential if brands get the ‘futuristic’ experience right. The majority of customers (81%) haven’t yet tried using voice technology to make purchases, but those who have are hooked. Of the consumers who have used voice technology to make purchases, 22% use it multiple times a week and 21% use it at least weekly. This proves shoppers have a strong appetite for new technology when it truly adds value to their busy lives.

The key to Sci-Fi Shopper loyalty: Frictionless commerce, every time  

“When it comes to new technology, brands continue to chase shiny objects. Consumers just want to buy the products they need with as little effort as possible,” said Darin Archer, CMO of Elastic Path. “Companies need a strong commerce backend that supports the latest innovations without sacrificing customer experience. It’s up to brands to make any experience shoppable. With the right tech, they can enable consumers to purchase almost without thinking, anytime and anywhere.”

Elastic Path collected this data from 1,015 consumers who shopped online in the six months before the survey. Brand data was sourced from 300 professionals who work in a marketing role for a B2C company that sells products online.

The full report includes data on features customers value most, where brands need to invest and how commerce technology can power competition against retail heavy-hitters like Amazon. Download a copy of the full report here.

Elastic Path is based in Vancouver, Canada, with offices in the U.K. and U.S. Learn more at www.elasticpath.com.

 

 

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