More than a third (36%) of Dutch consumers indicate that they spend less during the holidays this year. Of these, 13% said they will spend less than half of their usual December spending. In addition to lower consumer spending, retailers must prepare for higher expectations regarding the quality of service. The research also shows that even 90% of consumers already opt for another retailer after a number of bad experiences.
The shift to online shopping is another challenge for many traditional retailers. A large number of customers are using a digital service or apps for the first time since the lockdown. More than half of these people expect to continue to use online services in the future. Retailers and wholesalers need to adapt quickly to this new online service so that they can better respond to online customer needs and process more online orders during the holidays.
Retailers need to listen more closely to their customers to ensure they have a profitable season, as well as long-term loyalty: nearly three-fifths (59%) of consumers said they are willing to pay more to buy and / or use of products and services from companies that helped them during the pandemic.
Steven Hofmans, Customer experience advisor at SAS: ‘This season will be a new experience for both retailers and shoppers. Customer expectations are forcing retailers to digitally transform faster, highlighting the ability to use data analytics to predict customer needs and grow profitability. With extremely tight budgets, retailers need to stay competitive and ensure they have the right technologies for online stores and call centers and to keep home deliveries running smoothly. Optimizing these processes for truly personalized customer experiences is not possible without a good digital execution platform that brings together in-depth analytical customer insights, content and different customer touch points in one overview. The reward is not only increased profitability, but also long-term customer loyalty to help companies through the coming recession. ‘
For more insights on customer experiences in EMEA during the pandemic, download the full report: Experience 2030: Has COVID-19 created a new kind of customer?
The research and statistics were prepared for SAS by ‘3Gem’. Consumers completed an online questionnaire in August 2020 from a number of countries (UK, Germany, Italy, France, Spain, Netherlands, Poland, Sweden, Greece, Saudi Arabia and South Africa), representing a global sample of 10,000 adults over 18 years old.
(PvWK, Photo: Timur Saglambilek / Pexels)