In this edition of Retail Insights, we explore the complex influences that lead different generations of shoppers to behave in very different ways, both in-store and online. Discover how those in different generations prefer to shop, and how to engage with consumers to give them the best possible retail experience.
Retail Insights Edition 4 is an in-depth look at innovation, growth and the links between them. Packed with case studies of Australian businesses who have used fresh thinking to create new growth opportunities, it’s a valuable reference point for any retailer seeking to kickstart their own innovation journey.
The ‘Retail Therapy Study’ was conducted to better understand consumer experiences within Australian retail and hospitality. Our findings show that 82% of Australians are likely to spend more in a store when they feel they are a valued customer and 84% are more likely to buy from a store they feel connected to.
Things you should know:
This report is published solely for information purposes. As this report has been prepared without considering your objectives, financial situation or needs, you should before acting on the information in this report, consider its appropriateness to your circumstances and if necessary seek the appropriate professional advice. The information in this report is based on a survey of 2,195 business owners, decision makers and managers conducted on behalf of the Commonwealth Bank by DBM Consultants between August and September 2016; and an online survey of Australian retailers carried out by ACA Research on behalf of the Commonwealth Bank in January and February 2017. All analysis and views of future market conditions are solely those of the Commonwealth Bank. Any opinions, views of contributors, conclusions or recommendations are reasonably held or made, based on the information available at the time of this report’s compilation, but no representation or warranty, either expressed or implied, is made or provided as to the accuracy, reliability or completeness of any statement made in this report. Commonwealth Bank of Australia ABN 48 123 123 124.