Em­pow­ered con­sumers to trans­form re­tail sec­tor

The Star Malaysia - StarBiz - - News -

KUALA LUMPUR: A re­search has iden­ti­fied a new type of con­sumers – the em­pow­ered con­sumers, armed with tech­nol­ogy – who will change the fu­ture of the global re­tail land­scape.

Em­pow­ered con­sumers read and write prod­uct or ser­vice re­views, com­pare prices on­line and in­ter­act with com­pa­nies via so­cial me­dia.

Global mar­ket re­search com­pany Euromon­i­tor In­ter­na­tional said 26% of con­sumers world­wide are em­pow­ered con­sumers, with 52% of them below 35 years old.

The com­pany said in a state­ment that the con­sumers’ young age in­di­cated that their be­hav­iours would con­tinue as they age and would in­flu­ence their chil­dren, the next gen­er­a­tion of con­sumers.

Euromon­i­tor head of re­tail­ing Michelle Grant said: “Con­ve­nience is im­por­tant in em­pow­ered con­sumers’ shop­ping ex­pe­ri­ence. They pre­fer In­ter­net-en­abled de­vices to make their pur­chase, as 74% of them make their pur­chases through smart­phones ver­sus 44% of non-em­pow­ered con­sumers.”

She said they en­joyed the abil­ity to save time and order at any­time from any­where.

They also ex­pect the same shop­ping ex­pe­ri­ence in which­ever way they choose to pur­chase, thus re­tail­ers must em­brace om­nichan­nel re­tail­ing to meet these needs. — Ber­nama

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