The balance of power between consumer and retailer has irrevocably changed and the next seismic shift in the market will see the best retailers raising their game to stay attractive and relevant in this new model.
The newly empowered consumer wants to be his/her own:
With these power shifts in mind, Oracle recently conducted research into the shopping habits and attitudes of consumers, surveying 4,500 adult consumers from Brazil, China, France, Germany, Japan, Russia, South Korea, the UK and USA.
The findings helped to sharpen the picture of the newly emerging "access anywhere, commerce anywhere" consumer. Based on the results, these shoppers are demanding access to availability, product information and price in a variety of ways — in-store, online and on mobile devices. And as these consumer expectations have risen, tolerance for failure at any point in the delivery of "commerce anywhere" has become paper-thin.
The "New Retail Democracy" study found that:
In this first Oracle survey on consumers' appetite for access, the majority clearly indicate how strongly consumer desirers will guide retail technology investment in coming years.
Empowering the consumer with access and commerce anywhere will require retailers to re-orchestrate their operations, connecting planning, buying, merchandising, marketing and supply chain capabilities across all touch points, including stores. Ultimately, it's an alignment of the consumer with the necessary business process, connecting with the customer's journey — whatever and wherever that is.
Please use this form for an instant download of the study results: The New Retail Democracy or to request other information from Oracle. We also welcome your inquiries and feedback on the topics discussed in this Tip.