Invest in social sentiment analytics and conversational commerce to strengthen customer relationships.
This article states that the ever-increasing consumer expectations drive retailers to continually invest in their propositions and supporting operations. The author says that decision-making has become more complex for high-involvement items given the “paradox of choice”. Hence, retailers must be better equipped to help customers make decisions.
For lower-involvement purchases, one-click shopping and subscription models eliminate the decision-making, and make repeat purchasing of staples seamless. If a retailer is not first on the consumer’s mind, there is a risk of them not bagging the first purchase and the subsequent ones.
Since post-purchase experiences also shape customers’ decisions, digitally-savvy retailers who use insights to retarget and personalise offers outperform the market. Therefore, retailers must understand the stages of decision-making and offer timely intervention of messages to attract customers.
[5 minute read]