Retailers searching for customer loyalty can look beyond freebies and reward points and involve shoppers in product and service creation, provide expert advice and show authenticity, according to AMP Capital Shopping Centres' 2014 Recommended Retail Practice Report (RRP). The research was conducted in an online forum to gather initial insights followed by a survey to validate the findings. Bryan Hynes Managing Director of AMP Capital Shopping Centres said: "We put shoppers in the consulting seat via an online Consumer Consulting Board on which they discussed their shopping preferences with fellow shoppers in real-time. Over 2,000 posts were shared in just two weeks." This year's research identified five key themes and recommendations for retailers: customer co-creation, noted above; consumer connections; consultants not cashiers; sensory store experiences and loyalty.
Consumer connections Mr Hynes said: "It is certainly about more than just price for consumers today and brands are beginning to come up with new and innovative ways to connect like-minded people and forge strong communities and brand advocates."
Consultants not cashiers Mr Hynes said: "With an overwhelming amount of information now available to consumers, expectations on retail staff have shifted. Many Australian shoppers are looking for that personal guidance and service when they visit their retailer and really value genuine, trustworthy and proactive assistance." In addition, more than half of shoppers say they are more likely to shop at a store where they experience a human connection (59 per cent). Specifically, nearly half ranked individual service (48 per cent), being recognised (43 per cent) and a personal welcome (41 per cent), as reasons they were more likely to return to a store. The top five service factors that keep shoppers returning to a retail store are:
Sensory store experiences Mr Hynes said that AMP Capital Shopping Centres takes a place-led approach to its shopping centres creating unique and authentic destinations, customised to suit the local market and deliver distinct experiences. "We have turned Macquarie Centre into a leading contemporary urban centre, offering diverse experiences to customers with threads of art, green and innovation. An Australian-first 21 metre curved digital screen dominates the ceiling of the new Fresh Food Market, with innovative creative ambient content and sound, and plans for dramatic, bespoke art installations."
Loyalty
The 2014 Recommended Retail Practice Report can be downloaded from ampcscresearchhub.com.au. Also available are info-graphics, customer testimonials, best practice examples and graphs for images.
About AMP Capital Shopping Centres *As at December 2013. Includes internally and externally managed centres.
About the Recommended Retail Practice Report Research was conducted using a unique approach, beginning with crowd-sourcing the thoughts and opinions of top retailers in Australia and New Zealand. Retailers identified key themes and questions that they wanted to ask shoppers. A community of 65 shopping enthusiasts were then invited to join a two week Consumer Consulting Board, during which time they shared ideas about what they want from retailers, brands and companies. All findings from the community were validated and quantified through an online survey of a nationally representative sample in Australia (1,010 participants) and New Zealand (500 participants). The results within this release relate to Australian shoppers only. 1 Research conducted via an online community, during which over 2,000 posts were received from shoppers in just two weeks. The insights from this community were quantified by 1,010 Australian respondents aged over 18, in September 2014 (conducted by Direction First). |
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