The power of AI, hyper-personalisation, and enhanced communication in elevating consumer satisfaction
In today’s retail world, technology shapes consumer expectations for faster, more accurate, and personalised experiences. Despite advancements, a significant gap remains between what consumers want and what they get both in-store and online. IBM’s 2024 study of 20,000 consumers across 26 countries reveals widespread dissatisfaction: only 9% are satisfied with in-store shopping, and 14% with e-commerce. Retailers must rethink how they engage customers.
Hyper-personalization: standing out in a crowded market
To stand out, brands are turning to hyper-personalization, tailoring experiences to individual preferences. Leveraging AI and machine learning, brands offer personalised product recommendations, promotions, and content, forging deeper connections with consumers. For example, Zalando introduced a tool in 2023 allowing customers to get personalised size recommendations by taking two photos with their smartphones, setting them apart in online fashion retail.
Stellar communication: attracting and retaining consumers
Effective communication is crucial. Brands must engage consumers across platforms with timely and relevant interactions. From personalised email marketing to targeted social media ads, the aim is to add value at every touchpoint, enhancing the customer experience and fostering loyalty. Brands like Rhodes excel in this, spotlighting product releases on social media with captivating content featuring founder Hailey Bieber or famous influencers.
Enhanced customer care through Bots and AI
Bots and AI streamline customer service, handling inquiries faster than humans. AI also improves inventory management and supply chain operations, ensuring products are stocked and delivered promptly. Stitch Fix offers AI-driven fashion design tailored to individual preferences, blending algorithms with human oversight to cater to customer needs effectively.
Looking ahead, AI and improved communication will bridge the gap between consumer expectations and reality in retail. Brands embracing hyper-personalization, stellar communication, and efficient customer care through technology will attract and retain loyal customers, transforming the shopping experience for the better.
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