Fifty-seven per cent of Australian retail consumers would switch to a retailer which can provide visibility of in-store stock, according to IBM’s 2015 Global Smarter Consumer study.
This figure is indicative of higher expectations of the service experience across the board, with consumers now expecting to be able to access digital solutions that enhance service, more flexibility in areas such as returns, and digital loyalty programs.
The study surveyed 1800 Australians as part of a broader global study.
Aside from online stock availability, other differentiators consumers felt were worth switching retailers for were the ability of retail assistants to resolve inventory issues (cited by 50 per cent) and store staff being able to offer personalised promotions based on purchase history or preferences (25 per cent).
Australian retailers, however, seem to be falling short of these expectations, with brand advocacy in Australia remaining lower than the global average and declining from 13 per cent in 2014 to 10 per cent in 2015. The proportion of unengaged consumers has increased from 24 per cent to 37 per cent, indicating lower brand loyalty.
Australian consumers were considerably more willing to share personal information such as their location, social media habits, mobile number and email information with retailers. Those happy to share their location grew substantially from 14 per cent in 2014, to 24 per cent in 2015, and 28 per cent see the benefit in exchanging their personal information for customised offers and better services.
Thinking about the future, respondents envisioned a Jetsons-like future. Thirty per cent of respondents said they would favour the introduction of home sensors to generate shopping lists automatically based on low stock, 25 per cent were interested in uploading wardrobe pictures to receive purchase recommendations, and 25 per cent liked the concept of 3D shopping environments at home.
Ian Wong, partner, Interactive Experience, IBM Australia and New Zealand said, “This year’s survey indicates Australian retailers need to be more agile and adopt continuous change quickly to meet and exceed consumer expectations. It’s no coincidence that low advocacy ratings locally reflect a growing awareness among Australian shoppers for alternate channels available through retailers in the US, UK and elsewhere. This indicates an opportunity for growth for local retailers who can meet these consumer expectations.”
For further information and to download the full 2015 IBM Smarter Consumer Study ‘Shoppers Disrupted: Retailing Through the Noise’: http://ibm.biz/consumerstudy2015.
