Retailers must follow the pace of tech-savvy shoppers, says IBM
12 Jan 2010
A new IBM global survey of over 32,000 consumers reveals that technology is giving shoppers a new source of power - pushing retailers to engage them more directly via increased use of personalised promotions and offerings.
The changing economy has given rise to the smarter consumer– one who uses technology to make more informed buying decisions, exchange information with peers, make purchases on-the-go and shop across multiple channels.
At the same time, the increased use of technology has empowered consumers to become more vocal and demanding about their wants and needs.
Not only are consumers becoming more demanding, but they are also more willing to help. 79 per cent of respondents said they want to work with retailers to co-design new products and services that better meet their personal needs.
The study also revealed that while shoppers are showing increased demand for multiple technology channels, they want to use different technologies for different activities.
- 79 per cent want to use websites to access and print coupons
- 75 per cent want to use mobile phones to find out where the nearest store is located
- 66 per cent want to see what goods are in stock before going into the store.
From the consumers' eyes, the top areas for improvement for retailers were around delivering customised promotions and ensuring product availability. 61 per cent of respondents said they would spend more with a retailer if they got these two areas right.
