REDWOOD SHORES, Calif., Sept. 20,
2017 /PRNewswire/ -- Today Oracle announced the 2017
findings of global research that audited 15,607 consumers across
four key regions: EMEA (France,
Germany, Italy, India,
Spain, Sweden, UK) NA (Canada, USA),
LAD (Brazil, Chile, Colombia, Mexico), and JAPAC (Australia, China) on their retail preferences and
attitudes. Findings in the Retail in 4 Dimensions: Understanding
Consumer Behavior in an Age of Relativity report highlighted
three personas demonstrative of consumer behavior. It also revealed
opportunities for retailers to identify the customer experience
with personalization, mobile payments, automatic replenishment and
virtual reality. The research insights indicate that consumer
preferences for delivery, returns and self-service established with
ecommerce have taken hold in a global, omnichannel environment.
Three Shopper Profiles Emerge
As digital innovation continues its radical rearrangement of the
retail landscape, three consumer behavior macro trends emerge
globally in the report: a fully omnichannel consumer taking
advantage of a mix of digital and physical engagement points; a
savvy shopper looking for new, innovative and technology-driven
retail experiences; and a price conscious hunter always searching
for the greatest value for money.
"In order to leverage these behavior trends and successfully
reach these consumers, brands need to innovate on three fronts,"
said Ray Carlin, SVP and GM Oracle
Retail. "They need to truly know their consumer to personalize
their experience and embrace Omnichannel excellence as an
enterprise discipline while create capacity for innovation."
The Nomad is a nimble shopper who is not loyal to a brand
nor a channel and will examine multiple options for researching and
locating products before making a purchase.
In the research:
- 42 percent of consumers are now shopping both online and
in-store every week
- 73 percent want to return online purchases to a retail
store
- 55 percent want to check product stock on their mobile while
in-store
The Player uses technology to fuel and guide their
shopping experience and look for brands that re-invent the customer
journey.
In the research:
- 44 percent of families noted that virtual sales assistants are
important
- 35 percent like the idea of near real-time delivery via drone
or driverless car
- 43 percent love the idea of being able to 3D print custom
fashion
For The Dealer the thrill of the win and discount drives
their shopping behavior.
In the research:
- 84 percent say that competitive pricing and promotions first
and foremost are the most important aspect of their shopping
experience
- 65 percent say personalized offers and promotions are most
important to them in their shopping experience
- 50 percent want real-time offers online depending on what
they're browsing at that moment
Opportunities for Retail Innovation Identified in Six Key
Trends
In the Retail in 4 D: Understanding Consumer Behavior in an
Age of Relativity report consumers have clearly identified
technology's role in establishing new global standards for the
retail community. These include a common expectation for returns
and delivery, a desire for mobile payments self-service and
opportunities for personalization.
"As consumers reinforce these trends through purchase behavior,
cloud infrastructure will play a more critical role by delivering
innovation faster and enabling the retail community to keep pace
with existing expectations and experiences," said Jeff Warren, vice president strategy, Oracle
Retail. "What continues to be true is the rising expectations and
anticipated evolution of a fully omnichannel shopping experience.
Retailers can't afford to delay adopting cloud solutions that
enable a single perspective of consumer behavior across offline and
online storefronts."
Navigating Personalization and Privacy
- 67 percent of consumers stated that they did not wanting to set
up an account for e-commerce checkout and at the same time 57
percent want instant one-click checkout that can only be enabled
through creation of a payment profile
- 29 percent would find offers based on 'social media' data
'creepy'
- 52 percent want personalized offers in-store based on personal
data from their store loyalty account
Fashion Driving Store Traffic and Personalization
- 83 percent of consumers indicated that they shop in-store at
least once a week, and for fashion 7 percent of respondents shop
in-store every day and 22 percent shop in-store several times a
week
- 50 percent of millennials and pre-millennials think 3D custom
printing would be very engaging
- 40 percent of consumers browse or buy fashion online at least
once a week
Faster, Smarter Payments and Self-service
- 56 percent say self-checkout machines are important to
them
- A majority of millennials noted the ability to research and
reserve items for in-store pickup on the same day (65 percent) and
next day (58 percent) as important
- 60 percent want mobile payment options in-store with
millennials (67 percent) and pre-millennials recording a stronger
preference in particular
Simplifying the Returns Process
- 82 percent want the ability to return an online purchase with
free shipping
- 34 percent of consumers want returns windows exceeding 30
days
- 70 percent of consumers want free 2-day shipping on all
purchases
Auto Replenishment and Grocery Recommendations
- 48 percent think online automatic replenishment would be
important to their experience in the future
- 33 percent think it would be 'creepy' for supermarkets to ship
grocery items based on purchase, social and environmental data
- 40 percent think it would be 'awesome' if supermarkets use
technology to 'suggest' a shopping list without automatically
charging for it
Opportunities for Emerging Technology
- 48 percent of consumers want to use virtual reality at home to
navigate a personalized in-store experience and receive home
delivery and 48 percent would use virtual reality to prepare a
curated wardrobe to be picked up in-store
- 39 percent think robot assistance would be 'creepy' and the
sentiment is shared across age groups
- Millennials (42 percent) and families (43 percent) showed the
greatest interest in delivery by driverless car or drone
To access your copy of the research findings visit:
www.oracle.com/goto/retail-in-4d
About Oracle Retail:
Oracle provides retailers with a complete, open, and integrated
suite of best-of-breed business applications, cloud services, and
hardware that are engineered to work together and empower commerce.
Leading fashion, grocery, and specialty retailers use Oracle
solutions to anticipate market changes, simplify operations and
inspire authentic brand interactions. For more information, visit
our website at www.oracle.com/retail.
About Oracle
The Oracle Cloud delivers hundreds of SaaS applications and
enterprise-class PaaS and IaaS services to customers in more than
195 countries and territories while processing 55 billion
transactions a day. For more information about Oracle (NYSE:ORCL),
please visit us at oracle.com.
Trademarks
Oracle and Java are registered trademarks of Oracle and/or its
affiliates. Other names may be trademarks of their respective
owners.
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SOURCE Oracle