London, 22 March 2017: Mindtree, a global digital transformation and technology services company, has released the findings of a study on how rapidly evolving digital trends like social media, mobile applications and automation are reshaping the way retailers engage with customers. Titled "Sixth Sense of Retail", the study is based on a survey conducted with 2,000 consumers across in UK by Censuswide - an independent polling company.
The study has identified widely diverse shopper preferences across age and gender pertaining to new retail technologies like automation, artificial intelligence and robotics. Over half (51 per cent) of young shoppers in the age group of 16-24 years were comfortable with the idea of automated technologies and would visit robot-driven stores. 78 per cent of older shoppers over 55 years of age were apprehensive about this trend. Additionally, opinions were divided by gender with 44 per cent of men happy with a robotic shopping experience, compared with just 30 per of women. In order to address this sharp divide retailers should adopt a balanced mix of technology and human assistance to accommodate customers of different ages and genders.
The study also states that there is a growing demand for retailers to deliver more personalised experiences with nearly one in five (17 per cent) of 16-24 year olds asking for more personalised engagement from retailers throughout the purchasing cycle. It also highlights the influence of social media on shopping decisions. Facebook has been reaffirmed as the most influential social platform with just under one third of consumers (32 per cent) acknowledging it as a major influencer for shopping and purchasing decisions. Retailers therefore need to harness social media channels to drive brand loyalty by harvesting the growing volumes of customer data available across multi-channels. Consumers should be reached through social channel engagements that are personalised around preferences the retailer is looking at appealing to.
Further, as more consumers go online to make purchases, it is important retailers create content that is optimised for mobile platforms. They should focus on building strong digital relationships with customers, providing the blueprint for successful conversions both in-store and online.
“This study showcases the stark contrasts in consumer preference across both age and gender towards automation within retail stores” said Paul Gottsegen, Senior Vice President, Chief Marketing & Strategy Officer Mindtree. “The retailers who can most successfully navigate the right balance of robotics, and other automated store activity will be in the best position to drive more in-store shopping purchase conversion”.
“The retail industry has an exciting future ahead, but the key to success will be driven by the right balance between technology and in-store human experience.” stated Anil Gandharve, Associate Vice President of Retail, CPG and Manufacturing, Mindtree.” Additionally, retailers need to harness personalised customer information available through social media and mobile phone apps, to develop more impactful customer relationships.”
For more details of the study:
Click here to download the full report.
Click here to download the infographic.
2,000 UK consumers were surveyed in January 2017. The research was commissioned by Mindtree with polling company, Censuswide.
Mindtree [NSE: MINDTREE] delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition. “Born digital,” Mindtree takes an agile, collaborative approach to creating customized solutions across the digital value chain. At the same time, our deep expertise in infrastructure and applications management helps optimize your IT into a strategic asset. Whether you need to differentiate your company, reinvent business functions or accelerate revenue growth, we can get you there. Visit www.mindtree.com to learn more.