The latest Eurozone retail sales figures show a 0.4 per cent rise in May, higher than forecasted.
The retail industry is refocusing itself, using analysis of behaviour to contribute to brands' marketing strategies. Customer shopping habits have become aligned to an "anytime, anywhere" philosophy which opens up the doors for brands to offer a multichannel experience. Engaging with customers through various channels, adds to customer convenience and develops different streams of revenue for retailers.
Developing a personalised shopping experience is the key to influencing customer spending habits and increasing sales. Shoppers now expect to engage with brands across different channels which influence consumer spending habits and sales revenues.
Massimo Fubini, CEO of Contactlab, comments: "Engagement channels are becoming more connected, such as in-store, website and social media activity which become part of brands strategies. Our recent study Digital and Physical Integration: Luxury Retail's Holy Grail revealed that consumers buying luxury goods both online and in-store spend around 50 per cent more per year than in-store only customers. This strengthens the point that brands need to have a more integrated approach or risk failing to meet customer expectations."
Massimo Fubini continues: "Customer engagement strategy is a pillar which supports building strong relations with customers. Customer needs, behaviour and expectations should be top priorities for brands and the centre of any marketing strategy. Using a multichannel approach allows brands to gain a more accurate profile of customers to cater to their needs and translate into customer satisfaction, customer loyalty and increase revenue."