Consumers are increasingly seeking highly personalized shopping experiences that simplify choice and flexibility, a new study by consumer financial services company Synchrony concludes. Specifically, more than 80 percent of the 1000 shoppers surveyed for Synchrony’s “Future of Shopping” expect experiences curated just for them by 2030.
The research also determined that retailers who prioritize an experience-driven shopping strategy will prevail if they continue to innovate and differentiate themselves with new technologies.
Synchrony’s study indicates that the proliferation of retail channels, formats, platforms, and intermediaries has fragmented the shopping landscape over the past few years, creating stress for both shoppers and retail strategists. Moving forward, the focus will be on developing more connected experiences across channels, brands, online and in-store.
“Our study found that shopping does not happen in isolation, but rather with connected ecosystems driven by unique technologies that play a critical role for retailers seeking to meet these consumer demands,” said Florin Arghirescu, Synchrony’s Senior VP and Chief Product Officer.
Click here for more from the study.