RIS News report: building shopper loyalty

The Retailer’s Perspective on Sustainability, Loyalty, and Technology Needs

Oracle Retail conducted primary consumer survey to discover that 71% global consumers are more concerned about sustainability now than they were in pre-pandemic years. 57% consumers agreed that retailers’ brand values should align with their personal beliefs in order to build loyalty.

Despite the increased attention consumers place on sustainability, RIS news’ recent retailer survey found that only 51% believe sustainability is important for their customers.

RIS News retailer survey revealed:

• However 51% Many retailers believe that brand values such as sustainability, ethically sourced materials and social responsibility are essential to their customers. 2% It is a key aspect of shopping for consumers, according to many retailers.
  • 49% believe that the most important thing for shoppers is a wide selection of products.
• According to the survey, retailers feel this. 69% Customers believe that having a wide selection of products or unique products is the most important part of shopping. 

Survey: Retail technology priorities

• 93% said that they either have the most up-to-date technology available or are working on major upgrades to their website/commerce platform.
• 85% retailers stated that their POS platform was current or in the process of being updated.
• 77% According to retailers, Loyalty tracking The current version is available or will be in the next two years. 23% We do not plan to update.
  • Respondents felt that 67% their annual customers are returning customers. Although loyalty is high, should retailers not have a loyalty program to reward loyal customers?
• 71% retailers claim that their technology for personalized deals is current, or will be updated in the next two-years. The same retailers believe that only 15% customers value personal shopping experiences more than price, and that price is the least important 5% factor.

Oracle Retail is committed in developing technology and practices that help protect the environment and reward customers. We also provide the right products, experiences and reasons to keep them coming back. Responsible businesses will look at how they can better track and manage environmental, social and governance (ESG), impacts, and make their business more sustainable. Read more about our sustainability efforts.

source https://blogs.oracle.com/retail/post/ris-news-report-building-shopper-loyalty