To meet rising customer expectations, retailers must focus on quality, personalised experiences and effective use of first-party data, writes Shopify Managing Director APAC and Japan Shaun Broughton.
Presented by Shopify
With many consumers feeling under pressure and some businesses facing tighter budgets, it is undoubtedly a challenging time for the Australian retail industry.
However, there are still opportunities to sustain operations and even drive growth. Shopify’s 2024 Australian Retail Report revealed that 43 per cent of Australian consumers prefer shopping in-store, five per cent more than last year, and more than those who like shopping online (31 per cent).
Meanwhile, 26 per cent of consumers enjoy shopping both online and in-store, equally.
On top of this, 54 per cent of Australians prioritise value, and 23 per cent of consumers still treat themselves every month or so.
This shows that just as consumers are looking for greater value through things like personalised customer experiences, they are also demanding a seamless experience across online and in-store channels. With the right unified approach, retailers can capitalise on these new normal spending habits.
Omnichannel to unified commerce
Omnichannel isn’t a new term. For years, it’s been high on the agenda to ensure online and offline are blended to create a seamless customer experience. However, as more capabilities and technologies are added into the mix, it’s important this doesn’t come at the expense of a bad, disconnected or disparate customer experience. This is where unified commerce comes in — ensuring all your channels work in unison.
With a unified approach to retail — whereby sales channels, payment systems and customer interactions are brought into a single platform — retailers have the power to build a more personal, connected and smooth customer experience.
Personalisation at every point
With unified infrastructure in place, retailers can see how individual shoppers behave across their entire customer journey, whether it’s in-store, online or on third- party platforms such as social media. If business insight is applied to this kind of data, retailers are in a better position to personalise each customer journey at all touchpoints, and to offer them special treatment, no matter where or how they shop. This might be the offer of discounts on products in-store that are complementary to items previously purchased online.
In today’s retail landscape, where the majority of Australians prioritise value, customer experience and personalisation are key. Tools that can provide a unified view of the customer and underpin a seamless customer journey across every touchpoint are invaluable to drive customer acquisition, secure customer retention and lead to greater sales.
Access the Shopify Australian Retail Report here.
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