What Consumer Purchase Behavior Says About the Latest Retail War
Phil Dance recently wrote for leading retail publication, Progressive Grocer, weighing in on what market research is telling us about the Wal-Mart vs. Amazon battle. Widely covered in the news media, Amazon’s recent deal with Whole Foods pushed this competition to a new level. Both giants are scrambling to provide the necessary mix of online and physical shopping experiences, while appealing to the demanding grocery segment – one of the biggest percentages of monthly spend for the average consumer.
In his article, Phil outlines some of the drivers that instigated this war in the first place, such as:
“Shopper context and priorities: The age of information means that consumers can find out just about anything – including where to shop. Transparency and easy access to information are critical. Retailers must give their shoppers instant access to the information – and products – that they need so they don’t find it elsewhere.
Expectation economy: The rapid pace of innovation is unprecedented, and consumers have an expectation that they will meet with ease and convenience in every aspect of their lives – travel, taxis, appointment booking, social interactions – and grocery shopping.
Digital native habits: The powerful Millennial and Gen Y shoppers are affecting brands and other consumer groups, as they are demanding value and a truly customer-centric shopping experience. They are asking for brands have to deliver something beyond themselves and their product. They also have to advance the life of their consumer and create a meaningful connection.”
For the complete article, please visit: https://progressivegrocer.com/what-consumers-wallets-say-about-walmart-amazon-war
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