Retail in the Age of the Empowered Consumer

Empowered Consumers represent a quarter of the population

Consumers that engage in empowered actions, such as reading and writing reviews and checking prices at least weekly, account for 26% of consumers worldwide, according to Euromonitor International. This is up from 24.3% in 2016.

Empowered Consumers take research seriously before purchasing

Endless information means that Empowered Consumers are engaging with reviews and checking prices frequently during the pre-purchase part of their journey. Retailers have a plan to capitalise on the power of reviews and a plan for pricing in an omnichannel world.

Retailers must deliver the right products through the right channels seamlessly

Empowered Consumers expect convenient and experience-led shopping across digital and store-based channels. Retailers must embrace omnichannel retailing to meet these needs.

The customer journey does not end with the transaction

The relationship between customer and retailer no longer ends with the transaction. Retailers must examine their post-transaction strategies to encourage reviews and deliver best-in-class customer service.

The customer journey is a loop, not a line

The Empowered Consumer is now at the heart of retail. Successful retailers will understand their different customer types and their shopping journeys. At every touch point, retailers will provide an experience that is consistent with the retailer’s brand story so that their customers will act as their best brand ambassadors.