As I'm sure most of you know, Jon Stine presented this morning at NRF on the results of his fourth "Catch 'Em and Keep 'Em" survey, which is a highly respected study done each year to identify how shoppers are responding to retail technologies. As a followup to his NRF Big Ideas session, I'd like to reproduce here Jon's blog on his findings and thoughts. Thank you, Jon!
Want Your Share of$100 Billion? Build Customer Trust
By Jon Stine
Trust. It's a powerful human emotion that often drives our behavior. The level of trust, or lack thereof, between a retailer and its customers can literally make or break the business. Given the importance of trust, many retailers are asking: How much do customers trust retailers? What are the benefits of increasing trust? How do retailers gather the information needed to provide the personalized experiences many customers want, while maintaining and even building trusted relationships?
These questions are especially important given the critical juncture at which we find ourselves-the convergence of people, process, data, and things called the Internet of Everything (IoE).
To help retailers build customer trust in an increasingly digitally connected world, Cisco Consulting Services surveyed 1,174 consumers in its fourth annual Digital Shopping Behavior survey.* From a behavior perspective, shoppers are becoming more digital. In fact, eighty percent of respondents are what we call Digital Mass shoppers-people who research, browse, and purchase digitally. Within this group,