This time last year retailers identified personalisation as one of the most important trends to tackle in 2016 with big brands such as Amazon , Waitrose and Boots all investing heavily in customisable promotion schemes to relate to their customers.
However, a new survey by HSO has revealed that retailers have failed to improve the customer personalised experience with 40% of shoppers becoming irritated by targeted offers and only 7% choosing to take advantage of these personalised deals. In addition to this 41% of consumers admitted they would be happy to pay more for a tailor-made service.
“Most retailers now understand how today’s omni-channel, retail environment should work for the customer, but many have not yet implemented the systems and processes they need to deliver it. On the other hand consumers are becoming increasingly sophisticated in their demands. As a result, their expectations are now out of kilter with the reality,” says Robin Coles, Microsoft Technologies Enablement Lead, HSO.
In reality, retailers are out of touch with consumer expectations with 59% of consumers expecting retailers to use technology to gain an all-round view of their spending habits. However, in an age where consumers are reluctant to provide personal details, the personalisation struggle will continue throughout 2017.
“Unfortunately, many retailers are still being let down by their technology. They are running systems that are not flexible enough to meet today’s customer expectations. Nor can they provide the accuracy and timeliness needed for today’s complex stock control demands and processes. When these systems were developed, this kind of challenge could never have even been envisaged – but they have been patched and adapted over the years,” says Robin Coles, Microsoft Technologies Enablement Lead, HSO.
“One of the main consequences of this is poor stock management. To address this challenge, retailers need to consider technology – an ERP system that has CRM at the heart – that allows them to coordinate and integrate their stock management approaches across the online and physical store environments.”