Retail Executive Confidence in the Customer Experience Misplaced, Study Finds

Posted by Barney Beal, Content Director
Despite the spending, the planning and the hand wringing over how to meet the needs of the modern retail customer, there is still a large gap between what retail executives think consumers want and what they actually want, according to research conducted by Oracle NetSuite in partnership with Wakefield Research and Bob Phibbs, the Retail Doctor.
In particular, the global study of 1,200 consumers and 400 retail executives across the U.S., U.K. and Australia found a huge disconnect between shopper demands and what retailers deliver, notably when it comes to technology.
The research also identifies a way for retailers to bridge the gap and some key areas for optimism moving forward. Efforts to reimagine the in-store experience, provide personalization and improve direct communication are all good starting points, even if they’ve been poorly executed so far, according to survey respondents. Moreover, the research identifies key generational differences that forward-thinking retailers can use to diversify how they reach, and sell to, different consumers.