Customer expectations vs retailer reality
What do retail customers want? What are they actually getting? Is it the same thing? There's general agreement that, while brick and mortar retail isn’t dead yet, it’s going to have to update its business model if it wants to remain competitive. Especially with e-commerce powerhouses Alibaba and Amazon making fast and furious inroads into new markets, bringing all their massive digital capability along for the ride.
We know physical retail needs to embrace technology to create the kind of experiences customers have come to expect, but there’s still a bit of a disconnect between what customers want and what retailers are doing. A number of studies, including Springboard Retail's recent look into fashion retail, have highlighted some interesting differences in perceptions and priorities.