EDITORS QUESTION

While consumer expectations are shifting, human nature remains constant. People want to feel understood, and they crave ease and efficiency. It’ s the experience that lingers. The companies that understand this are not just selling products but are designing their customer experiences.

Retailers who fail to adapt will get left behind. Convenience is no longer a differentiator but the bare minimum. Consumers expect effortless interactions, whether online or in-store. Slow checkouts, clunky navigation or disconnected experiences? Those are dealbreakers. Thriving companies have eliminated these pain points, investing in solutions that minimise friction from browsing through to purchase.

But friction isn’ t all bad. Intentional friction can be powerful, encouraging thoughtful decision-making, building trust and even enhancing the experience. This could be something like an on-screen pop up to showcase other similar items to consider purchasing. The smartest retailers know when to remove barriers and when to strategically

THE LINE BETWEEN DIGITAL AND PHYSICAL RETAIL HAS BLURRED, AND THOSE AHEAD OF THE CURVE PRIORITISE BLENDING THE TWO TO CREATE A TRUE OMNICHANNEL EXPERIENCE. introduce them, to keep consumers coming back. Timing is everything and it changes from customer to customer. It used to be that retailers had to constantly think about tradeoffs, but now the technology to design hyper-personalised experiences is a reality.

There is another shift within retail also taking place. The line between digital and physical retail has blurred, and those ahead of the curve prioritise blending the two to create a true omnichannel experience. For example, retailers can use their accompanying apps to guide customers to products in-store. This isn’ t about prioritising one channel over another, but about ensuring they work together to create a cohesive and seamless experience.

One-size-fits-all solutions don’ t cut it. Consumer preferences are a patchwork. Our latest report The Consumer Trust Recession diving into why consumer confidence is declining and how it impacts retail, found that for Baby Boomers, 71 % prefer the human touch at checkout, compared to 59 % of Millennials and 46 % of Gen Z. On the other hand, 56 % of Gen Z shoppers favour service-assisted checkouts, a preference that wanes with age, as only 51 % of Millennials and 40 % of Baby Boomers opt for this method. Retailers must strike a careful balance of automation with the human touch.

Yet true transformation isn’ t just about creating new digital experiences. It starts with data and putting it at the heart of your organisation, breaking down silos, ensuring insights flow across departments. Changing the technology is often viewed as the simpler route, but changing the processes that sit around the technology and organisation is very difficult. Putting data at the heart of this process unlocks an unprecedented ability to rapidly test your initiatives and do things others can’ t.

Ultimately, the businesses that wait to adapt will always be a step behind. To thrive, businesses need to take the lead.

22 www. intelligentcxo. com