- Integrating customer insights by collecting and analysing consumer data from multiple sources expands retailers ability to attract and retain customers
Sydney, Australia (19 September 2023)—Today, InMoment released the latest consumer trends report with cutting-edge information about how retailers can attract new customers and retain existing ones. The study identifies the three most important consumer trends and demands to help retailers understand their customers on a deeper level to influence customer loyalty and spend.
To obtain a holistic perspective of consumer behaviour, the study used an Integrated CX approach by collecting and analyzing consumer data from multiple sources. The latest research finds that 40% of retail consumers will stop purchasing from brands if free returns are not offered. Additionally, brands with a strong social media presence and influencer marketing programs see consumers’ intent to purchase up to 70% higher than those without.
InMoment’s Retail Consumer Trends Report analysis included:
- Social Signals: what people are saying about retail experiences on TikTok, Instagram, Facebook, Twitter, and beyond
- Online Review Signals: online review data about retailers from Google, Glassdoor, and other sites
- Historic Data: proprietary InMoment retail consumer data from surveys and other sources in 2022
- Market Pulse Survey: custom research to fill in the blanks, hear consumer stories, and gain more context
“Successful retail brands need to use an integrated CX approach to capitalise on data from everywhere to improve customer experiences—because our research shows that only a fraction of the consumer voice can be heard via one source. The vast majority of the insights businesses need to succeed are on review sites, social media, within historical data, and through employee and customer surveys,” said Mehul Nagrani, Managing Director, InMoment. “Our strategic services team is committed to understanding the latest trends and using best practices to help global retail organisations realise how to best meet today’s evolving consumer expectations.”
Some of the world’s top retail organisations, including Foot Locker, ASOS and many others choose InMoment as a partner to deliver standout experiences for customers and employees. InMoment’s award-winning AI-powered analytics software and strategic services help hundreds of retail organisations stay ahead of the trends.
Foot Locker, a leading footwear and apparel retailer with approximately 2,700 retail stores in 29 countries, recently extended its longstanding partnership with InMoment. Their primary goal is to create a seamless experience for their modern athlete customers by integrating and understanding feedback from surveys, social media, and in-store.
ASOS, a destination for fashion-loving 20-somethings around the world, partnered with InMoment to simplify the feedback process for their customers and consolidate experiences to gain a better understanding of what matters most to them.
For more information about how InMoment partners with retailers to help them deliver outstanding experiences to their customers, visit: https://inmoment.com/en-au/
The 2023 Consumer Trends Report is free and available to download from InMoment’s website.
About InMomentIntegrating experiences and improving them is why InMoment exists. Our mission is to help our clients improve experiences at the intersection of value—where customer, employee, and business needs come together. The heart of what we do is connect our clients with what matters most through a unique combination of data, technology, and human expertise. With our hyper-modern technology platform, decades of domain authority, and global teams of experts, we uniquely deliver a focus on Experience Improvement (XI) to help our clients own the moments that matter. Take a moment and learn more at inmoment.com/en-au.