Shopper satisfaction at retail stores is declining up to 15% per year.
Retailers must adapt business models and integrate local, personalized services with online convenience.
Recently we have witnessed a shift in retail from physical to experiential, where the currency of value is the experience.
Products and services increasingly exist within a cloud of information, continuously and dynamically linked to virtual brochure sites maintained by sellers, journalist reviews, consumer ratings, social commentary, and aggregated usage statistics. This cloud can be accessed any time in any place through multiple channels. While retailers traditionally see online and store marketing as competing businesses, customers ultimately care about convenience and perceived value–not the channel through which they are served.
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