Innovation and convenience ‘more important’ than brand

In the digital, consumer-first era, the brand is losing its relevance in the face of innovation and convenience

Innovation Brand

'Both this report and our own findings support the fact that consumers would spend more with retailers that have a better technology offering. To protect their success for the future, retailers therefore must differentiate their stores, services and online offerings using the latest digital tools'

Brand loyalty is tumbling with nine in ten (88%) consumers seeing speed of delivery being more important than the brand being ordered according to research from Salmon.

This new breed of consumers are comfortable with new and innovative ways to shop too, with 45% currently using or likely to use digital assistants such as Amazon Echo, Alexa or Google Home in the next 12 months.

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Further, the research found that six out of ten consumers now welcome the benefits of programmatic commerce – allowing technology to automatically purchase goods for us.

Indeed, almost a quarter of consumers are “digitally obsessed”, making almost all their purchases online, while a staggering 37% of total online spend is now through Amazon.

Confirming the decline in brand loyalty, many consumers now put price and speed of delivery ahead of brand, with 60% revealing they would more likely shop with ‘digitally innovative’ retailers.

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Commenting on the research, Rupal Karia, head of commercial, UK and Ireland at Fujitsu said that “The ever-growing demands of today’s consumer mean that retailers are continuously having to adapt to their every need, which can seem to change on a daily basis. E-commerce has altered our expectations of the high street and we now expect physical channels to reflect digital ones and be engaging, personalised and hassle-free. This latest research highlights that speed and convenience are the top priorities for today’s modern consumer, and this is where retailers need to find ways to match online and ensure they are differentiating themselves from their competitors.”

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“Both this report and our own findings support the fact that consumers would spend more with retailers that have a better technology offering. To protect their success for the future, retailers therefore must differentiate their stores, services and online offerings using the latest digital tools.”

“The Holy Grail is to create a consistent and outstanding cross channel experience; consumers will embrace retailers who can give them the experience they want, before they know they want it. Those that fail to do so will find themselves in the latest generation of retailers pushed out of the high street, for good.”

 

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