In recent years, accelerated digitization, driven by technological advances and social changes, has changed the way people interact with brands and products. Consequently, our consumer behavior has undergone an unprecedented transformation. Easy access to information combined with the instant possibility of online shopping and the multitude of channels have made the consumption process much more dynamic and demanding. In this new scenario, merely offering a quality product or service is no longer enough, making the experience, along with the purchasing 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 for convenience and agility from the public have never been higher. A good proof of this is that today’s consumer no longer differentiates between digital and physical. They want an integrated, seamless, and personalized experience across any channel. According to Salesforce data, 75% of customers expect consistency in the purchasing journey, regardless of the point of contact. This means, for example, that brands need to go beyond the sale and seek to build smarter and more strategic connections, whatever path they take.
That’s why omnichannelity has ceased to be a trend and has become a necessity. Companies that fail to offer a cohesive and seamless journey between physical stores, websites, applications, and social networks lose ground to better-prepared competitors. Furthermore, automation and immediate responsiveness are essential to ensure agile and frictionless interactions, also increasing 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 the retail sector, with people increasingly seeking memorable interactions aligned with their values. A PwC survey reveals that 86% of consumers are willing to pay more for a superior shopping experience. Competitive differentiation today often relies more on personalization and efficient service than on comparing product quality.
Personalization 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 be an excuse. The difference lies in the intelligent use of this information and the ability to translate it into efficient strategies that can impact the right audience at the ideal moment with the correct narrative.
A more recent, yet equally important topic is the social, environmental, and governance impact of brands – better known as ESG. Brands that do not transparently express these values in their discourse and actions are being overlooked in favor of those who do their homework and exhibit it attractively. It is worth noting that mere positioning or catchy phrases are not enough; in this case, practical implementation matters much more for a brand to be genuinely seen as socially and environmentally responsible.
It is evident that commerce is undergoing significant changes, where the emphasis on customer experience is becoming increasingly relevant. Brands that invest in innovations such as omnichannel offerings and communication, as well as ESG initiatives, start to build stronger long-term relationships with customers. So much so that it is possible to say that retail today finds itself at a crossroads where: either it reinvents itself or its market share is likely to decrease.
