Tips for Motivating Consumers
Consumers want more. More service, increased sustainability in products, and a stronger social presence for products and the businesses that sell them. Those are just a few things consumers say they want from retail establishments they support in 2023.
As shared by InMoment in its 2023 Retail Consumer Experience Trends Report, here are several things consumers are looking for to help them determine which businesses to frequent.
Tip: Millennials and Gen Z are willing to buy a more expensive product if it offers higher value. That is, better features, more durability, broader color range, etc.
SOCIAL MEDIA
More than 60% of retailers surveyed who had a strong presence on Instagram and TikTok report “higher than average purchase intent sentiments.” In all, 1 out of every 2 consumers will purchase a product as a result of social “signals” and influencers this year.
THE EXPERIENCE
Specifically, 1 in 3 consumers expect your brand(s) to implement a hybrid approach in 2023. Returns, as always, are important, but so is what’s referred to in the study as staff personalization. That is defined as staff that is attentive, helpful, and dedicated.
At the same time, they’d like to leverage their phone/an app to view product ratings and reviews while browsing in your optical.
REVIEWS
Surveys are still important, but less so than last year. When consumers were asked their preferred customer feedback method, InMoment reports that “39% said they would take a survey, but online reviews are just as important. In all, 36% of consumers say they prefer to leave feedback on a review site (a significant increase over 27% last year).”
PRICE
Sure, it’s a very important factor. But for some generations, other things can matter more. According to InMoment, “Millennials and Gen Z in particular are more willing to buy a more expensive product if it offers higher value. That is, better features, more durability, broader color range, etc.” Gen X and Baby Boomers, however, find price to be more important.
The bottom line? “Retail is a space that invites and celebrates the new and
the daring, especially when it comes to experiences,” concludes InMoment. So, where do you begin? “This is a great time to start investigating hybrid experiences—whether
you want to bring the digital into the physical store (like 1 in 2 customers wants you to) or bring the in-store experience into the digital, 2023 is your time.”
What are you doing differently this year to create more of a hybrid experience for your clients? Tell us about it and share in the conversation on Facebook here.
Erinn Morgan
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