Redwood Shores, Calif.—Sep 20, 2017
Today Oracle announced the 2017 findings of global research that audited 15,607 consumers across four key regions: EMEA (France, Germany, Italy, India, Spain, Sweden, UK) NA (Canada, USA), LAD (Brazil, Chile, Colombia, Mexico), and JAPAC (Australia, China) on their retail preferences and attitudes. Findings in the Retail in 4 Dimensions: Understanding Consumer Behavior in an Age of Relativity report highlighted three personas demonstrative of consumer behavior. It also revealed opportunities for retailers to identify the customer experience with personalization, mobile payments, automatic replenishment and virtual reality. The research insights indicate that consumer preferences for delivery, returns and self-service established with ecommerce have taken hold in a global, omnichannel environment.
As digital innovation continues its radical rearrangement of the retail landscape, three consumer behavior macro trends emerge globally in the report: a fully omnichannel consumer taking advantage of a mix of digital and physical engagement points; a savvy shopper looking for new, innovative and technology-driven retail experiences; and a price conscious hunter always searching for the greatest value for money.
“In order to leverage these behavior trends and successfully reach these consumers, brands need to innovate on three fronts,” said Ray Carlin, SVP and GM Oracle Retail. “They need to truly know their consumer to personalize their experience and embrace Omnichannel excellence as an enterprise discipline while create capacity for innovation.”
The Nomad is a nimble shopper who is not loyal to a brand nor a channel and will examine multiple options for researching and locating products before making a purchase.
In the research:
The Player uses technology to fuel and guide their shopping experience and look for brands that re-invent the customer journey.
In the research:
For The Dealer the thrill of the win and discount drives their shopping behavior.
In the research:
In the Retail in 4 D: Understanding Consumer Behavior in an Age of Relativity report consumers have clearly identified technology’s role in establishing new global standards for the retail community. These include a common expectation for returns and delivery, a desire for mobile payments self-service and opportunities for personalization.
“As consumers reinforce these trends through purchase behavior, cloud infrastructure will play a more critical role by delivering innovation faster and enabling the retail community to keep pace with existing expectations and experiences,” said Jeff Warren, vice president strategy, Oracle Retail. “What continues to be true is the rising expectations and anticipated evolution of a fully omnichannel shopping experience. Retailers can’t afford to delay adopting cloud solutions that enable a single perspective of consumer behavior across offline and online storefronts.”
Navigating Personalization and Privacy
Fashion Driving Store Traffic and Personalization
Faster, Smarter Payments and Self-service
Simplifying the Returns Process
Auto Replenishment and Grocery Recommendations
Opportunities for Emerging Technology
To access your copy of the research findings visit: www.oracle.com/goto/retail-in-4d
Oracle provides retailers with a complete, open, and integrated suite of best-of-breed business applications, cloud services, and hardware that are engineered to work together and empower commerce. Leading fashion, grocery, and specialty retailers use Oracle solutions to anticipate market changes, simplify operations and inspire authentic brand interactions. For more information, visit our website at www.oracle.com/retail.
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