Customer-Centric Roundup: August 2017
by iperceptions, on Sep 7, 2017
The summer holidays have come to an end. Everyone is now back at school. Wearing white is now somewhat of a taboo (yes, some believe wearing white after labor day is a fashion no-no). Also with this came a whole bunch of new stats and stories about the customer experience to pour over. So let’s dive right into it.
Travel is fast becoming a digitized experience
The travel sector is one of the most advanced sectors when it comes to digital transformation. According to an article in CMO.com, 44 percent of all travel sales and bookings will be done online by 2020. But the booking experience is not the only aspect of travelling that is going through a digital transformation. Speaking with CMO.com, Otto Rosenberger, CMO of Hostelworld, said that, “Brands are looking to engage more with their customers, and it’s when they’re travelling that those customers are most engaged.”
With the prevalence of smartphones, greater connectivity, and huge amounts of customer preference data now at the fingertips of many companies, there is much more competition in digitizing tours and the activities market.
Back to school season is set to spur huge growth
Kids have already gone back to school, but not before parents spent big getting their children fully equipped. According to Target Marketing, 53 percent of parents were expected to spend more this year than last year during the back-to-school season. The top sellers - clothing and electronics, with electronics seeing the biggest growth (forty-five percent of parents were expecting to spend more money than last year on computers and electronics.)
Amazon is pushing online retail sales to new heights
In August, some very promising figures were published by the US Commerce Department, who reported that Q2 e-commerce sales were expected to hit $111.5 billion, a 16.2 percent increase from a year earlier.
According to Internet Retailer, Amazon accounted for roughly 38 percent of Q2 e-commerce sales in the US, and was also responsible for 49.4 percent of the total e-commerce growth.
Walmart, AI, big data and IoT
While Amazon is taking a huge chunk of e-commerce sales, Walmart is fighting back by putting the customer experience front and center using some of the latest technology trends. According to Forbes, Walmart has launched and will be launching a number of innovations to improve the customer experience, from tagging products to monitor product usage to self-service kiosks located at the entrance, to a store that retrieves online orders for customers.
Speaking with Forbes, Lauren Desegur, VP of customer experience engineering at WalmartLabs said, “We’re essentially creating a bridge where we are enhancing the shopping experience through machine learning. We want to make sure there is a seamless experience between what customers do online and what they do in our stores.”
Brand loyalty back in vogue
With the internet giving consumers the power to check for the best deal instantly, many might think consumer loyalty would be waning. In fact, according to a new study by DMA, both facts are true. The infographic depicting the DMA’s Customer Engagement 2017 study that was published in MyCustomer, shows that overall loyalty has increased by 8 percent compared to last year. Yet, 8 out 10 consumers are still willing to research to get the best deals.
CX Metrics Series: Overall Satisfaction
Navigating the complex forest that is the customer experience can be a dangerous business. You can easily lose your way as you try to find ways to optimize the countless items that fall within the customer experience spectrum. This month, Duff Anderson, SVP and Co-founder at iperceptions looked at how the Overall Satisfaction metric can serve as a compass that can guide your efforts to better understand and optimize the customer experience.
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