Consumer and business research and insights from industry experts uncover how retailers can find the perfect balance between customer experience and business efficiency. We surveyed:
- 500 retailers
- 2,000 consumers
- 26 countries
Walking the line
Against a backdrop of changing regulations, new payment methods, new technologies, new competitors, and new business models, retailers today face the challenge of maintaining differentiation while ensuring efficiency.
Expectations are high and budgets are tight. But challenging times often provide the richest growth opportunities. New technology and rising customer expectations are helping to raise the bar across the industry. And the retailers that stay ahead of the curve, will reap the rewards. The key to success is staying on top of customer demands without adding unnecessary complexity to your business, which poses the question:
How can retailers balance amazing customer experience with operational efficiency?
- 54% of consumers will abandon a purchase if they can’t pay how they want.
- 51% of businesses that connect their backend systems reported increased sales.
- 18% higher revenue growth is predicted by businesses that know the majority of their shoppers.
- 26% of consumers feel more unsafe shopping today than they did 10 years ago because of payment fraud.