Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

Retailers struggle to deliver on personalisation promises

Retailers struggle to deliver on personalisation promises

More than half have been denied special offers due to stock shortages

Almost half (41%) of UK shoppers say that the availability of products on the high street is the biggest frustration of shopping in-store. This frustration has been compounded for 59% of consumers who have at some point seen a special offer or been sent a voucher from a store only to find that the product was out of stock when they got there.

Mike Callender

Mike Callender

The survey by retail IT consulting and technology firm REPL Group of more than 1,000 UK shoppers also reported that 70% feel that apps providing real-time stock information, product recommendations and giving shop staff access to in-depth product knowledge and customers’ buying profiles would enhance their shopping experience.

“We can see that consumers are demanding technology be used to make the shopping experience more convenient. For shoppers, some of the biggest pain points of going to the high street are queues and insufficient stock which can lead to unnecessary and fruitless shopping trips,” said Mike Callender, executive chairman, REPL Group. “By introducing technology to address these issues, store owners have the potential to attract consumers back to the high street and make shopping trips a smoother experience.”

The report also found that more than half of UK shoppers (52%) expect that by 2025 technology will allow stores to be completely cash free and consumers will be able to use apps to browse goods available instore, so they’re ready to be tried on, tested or picked up when they arrive.

“It is important that retailers take heed of these frustrations or risk alienating shoppers further. With external issues such as parking acting as a deterrent to visiting the high street for almost a third of shoppers (30%), retailers must do everything in their power to improve the factors within their control. Introducing technology which allows consumers to check in-store stock levels before they head to the store would help to overcome much of these frustrations and create a more positive high street shopping experience and ensure shoppers don’t walk away empty handed.”

“Many of the responses also reflect that consumers crave a more personalised shopping experience with apps providing recommendations and giving retail workers an insight into shopping profiles. By adopting technology that allows for this, retailers will have the ability to not only address the needs of the consumer and create more bespoke shopping experiences, but also to stand out from both high street and online competitors.”

About REPL Group

REPL Group are a world-leading consultancy and technology group specialising in workforce management, supply chain, point of sale and in-store digital solutions. Since its beginnings in 2007, the UK based firm has enjoyed year-on-year growth and is formed by a specialist team with highly-successful retail careers. REPL Group draws on its experience and expertise to deliver visionary professional services and unique solutions that transform business operations.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post