How Should Retailers Respond to Consumers’ New Shopping Behavior?

Shoppers are reshaping the retail landscape faster than ever before. A 麦肯锡 survey shows that nearly 40 percent have switched brands or retailers during the pandemic, and more than 80 percent have new shopping behaviors. This leads to consumers now demanding much more than value and convenience—and tolerating fewer shortfalls. So, how can retailers meet those rising challenges? By bending, reinventing, and innovating to meet customers where they are—and where they’re going. This could be done by shrinking their margin of error to zero in those 5 areas: shopping channels, customer assistance, delivery times, equity and sustainability, and talent (exhibit).

Let’s start with the first and most crucial one, reaching zero difference in channels.?

To serve omnichannel customers better, winning retailers are redefining channels and bridging the gap across supply chains, stores, web presence, and partners. Some players, such as 塔吉特百货 , are transforming stores into supply chain nodes to serve customers both online and in the physical store. 苹果 also integrates its channel seamlessly with Apple ID, allowing customers to schedule in-store appointments in seconds and helping reps to quickly recognize customers. As channels blur, retailers will need to rethink traditional measures of productivity and what success looks like in the eyes of the consumer. Omnichannel is the new four wall, and metrics should reflect the cross-channel contributions of stores and managers. So, a big attention should be given to brick-and-mortar stores and investing in digitizing them the right way!?

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