It is key as a retailer, to understand the market transitions taking place in the industry. Rapidly changing consumer demands, and powerful market influencers via social media is causing a lot of disintermediation. Globally we see that over 40% of consumers will prefer voice assistants to a company website or app, and 31% will prefer this compared to an in store experience.
We add to this Cybersecurity is now a top-3 factor when consumers select a primary retailer, outranking loyalty programs and brand reputation. What’s more, 40% would increase their online spend at least 20% if their primary retailer gave them security assurances that competitors did not.