In recent years, accelerated digitalization, driven by technological advances and social changes, has changed the way people relate to brands and products. Logo, our behavior as consumers has undergone an unprecedented transformation. Easy access to information combined with the instant possibility of online shopping and the multiplicity of channels have made the consumption process much more dynamic and demanding. In this new scenario, simply offering a quality product or service is no longer enough, making the experience, along with the purchase journey, the true competitive differentiator.
The growth of e-commerce and the adoption of subscription services are reflections of this new reality. The expectation and demand from the public regarding convenience and speed have never been higher. A good proof of this is the fact that today's consumer no longer differentiates between digital and physical. He wants an integrated, seamless, and personalized experience across any channel. According to Salesforce data, 75% of customers expect consistency in the purchase journey, regardless of the contact point. This means, for example, that brands need to go beyond sales and seek to build smarter and more strategic connections, whatever the way.
That's why omnichannel has ceased to be a trend and has become an urgency. Companies that fail to provide a cohesive and seamless journey across physical stores, websites, apps, and social media lose ground to more prepared competitors. Furthermore, automation and immediate responsiveness become essential to ensure swift and frictionless interactions, also increasing customer loyalty. The proof of this is that 73% of consumers consider the experience a decisive factor in continuing to buy from a brand, according to Forbes.
The experience economy has also transformed retail, with people increasingly seeking memorable interactions aligned with their values. A PwC survey reveals that 86% of consumers are willing to pay more in exchange for a superior shopping experience. Competitive differentiation today often relies more on personalization and efficient service itself than on comparing product quality.
Customization is another critical point. Brands that understand their customers' preferences and offer tailored interactions can increase their revenues by 6% to 10%, according to BCG studies. Thanks to the increasingly evident advancement of artificial intelligence, the lack of data can no longer serve as an excuse. The difference lies in the smart use of this information, as well as in the ability to translate it into effective strategies capable of impacting the right audience, at the right moment, with the correct narrative.
A more recent topic, but no less important, is the social, environmental, and governance impact of brands – better known as ESG. Brands that do not convey such values in their speech and actions are being overlooked by those who do their homework and present it in an attractive way. Remember that it’s not enough to just focus on positioning or catchy phrases; in this case, practice matters much more for a brand to be genuinely seen as socially and environmentally responsible.
It is evident that commerce is undergoing significant changes, with the emphasis on the customer experience becoming increasingly important. Brands that invest in innovations such as multichannel offering and communication, as well as ESG initiatives, begin to build stronger long-term relationships with customers. It is so much so that it can be said that retail today is at a crossroads where: either it reinvents itself or its market share must decrease.
