Transcript of "Reshaping Consumer Behaviour - Vodafone Global Enterprise "
Reshapingconsumerbehaviouracross the 4buying stages
STAGE #1Getting to know the individualWe’re all individuals. We respond better whenbrands and retailers take the trouble to anticipateour preferences and pain points in the pre-purchase stage.“We estimate that a retailer using big data to the fullhas the potential to increase its operating margin bymore than 60%.”McKinsey, 2011
STAGE #2Building relationships through relevanceWhat makes us loyal to the brands we love?Ultimately, it’s about relationships, not transactions— and like any relationship, communication iswhat makes us feel valued.“When a retailer sends you a voucher for yourfavourite brand of coffee, it’s clearly helpful. Everyoneappreciates the individual touch. But when does“personalised” cross the line into “creepy”?”
STAGE #3Personalising the purchaseWhether we’re heading to the store with cash, orbuying from our phones while on the train, we wantretailers and brands to do things our way.“60% of shoppers expect the convergence of retailchannels by 2014. More than half said that by 2020physical stores in some categories will simplybecome showrooms for selecting and orderingproducts.”Capgemini, 2012
STAGE #4Closing the loopWe’ve all been let down by a late delivery or astore running out of stock of a new product. Theability to execute is the final piece of the puzzle,and it’s absolutely critical to our experience asshoppers.“In China, 93% of shoppers trust friend and familyrecommendations most when buying goodslike PCs and cars. To generate positive wordof mouth, you need to deliver a qualityexperience even after taking the shopper’s money.”McKinsey, 2012
Evolving the connected consumer experience Download your free copy here now
How are you reshapingconsumer behaviour? TWITTER:#consumergoods @Vodafone_VGE LINKEDIN:enterprise.vodafone.com/consumergoods/linkedin