Top 5 things to do for APAC retailers to be 'shopper-first' in 2022
The five points are part of Publicis Sapient's inaugural 2022 Retail Guide to Next report.
Digital business transformation company Publicis Sapient released its inaugural 2022 Retail Guide to Next report. The report highlights the top five things retail companies in APAC must do in the year ahead to transform their businesses into shopper-first organisations.
Evolve As Platforms To Create One-Stop Shopping For Customers
Based on the findings, the future retail winners will be those that build a connected ecosystem of related services that customers can engage with through one seamless experience. This is especially prevalent in APAC, where 65% of consumers have purchased non-grocery items online in the past three months, while over three in five Singaporeans (61%) and Thais (69%) anticipate shopping online more in the future than they do today.
Reimagine Store Experiences By Integrating Best of Online and Offline
Over the last 18 months, retailers have faced lockdowns and restrictions, resulting in a surge in e-commerce that has changed consumer expectations and the role of physical stores. Publicis Sapient research found that 61% of APAC respondents are shopping online at least weekly.
Monetise Data To Increase Brand Engagement and Sales
Smartphones remained the most widely-used device (63%) for Singapore respondents when online shopping, and even more so for Thai respondents (84%). In addition, 37% of shoppers globally who buy online would like personalised offers based on spending preferences, while 31% want personalised content or advice to help them shop.
Transform Into Financial Companies
Almost half (47%) of Singapore respondents want cash-back partnerships tied to their favourite retailers or grocers, while 34% of shoppers globally want instalment payment options with their favourite retailers or grocers. From digital wallets to banking, customers will have their CFO in their back pocket, a one-stop shop for all of their financial needs while still being connected to the retailers' business suite.
Optimise Returns By Delivering Better Customer Experiences
Data is key to improving customer experiences and operational efficiency. Retailers need data about their products and insights into how customers are buying and returning their products so data can be fed into the customer experience. Providing as much information as possible about products will help customers make better purchase decisions.
"In 2022, retailers must continue to reimagine their businesses for the new age of retail, from evolving as platforms and transforming their store experiences by integrating online and offline to monetising data, investing in financial services products and optimising return costs by focusing on a better customer experience," said retail industry lead Guy Elliott.