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Consumer expectations are constantly evolving. Retailers need to build a sophisticated understanding of how consumers live, eat, shop, work, and play — and use this knowledge to provide value in the right place and at the right time to unlock long-term loyalty.
Opportunities exist across the experience spectrum, whether in lowercase “e” experiences that remove friction from digital and in-store channels or uppercase “E” Experiences that engage consumers with personalization and value both when they expect it and when they don’t.
Customers who receive a great experience report having:
As consumers gravitate toward brands that focus on experience across each individual’s unique journey, retailers will have to find innovative ways to deliver value across the spectrum of convenience-led to enrichment-led experiences. What are those? Learn how we can help you move toward an experience-led strategy.
What consumers want across the retail experience spectrum
- Convenient and frictionless shopping
- Fully complementary experiences
For “Experiences”
Consumers want an experience that is frictionless and convenient, provides the right product at the right place, and enables consumer safety.
43%
intend to spend more on experiences. ²
60%
are visiting stores less frequently. ²
37%
will order online and pick up in-store more often. ²
24%
intend to use voice assistants more often to make purchases. ²
57%
use a smartphone to browse or shop online. ²
For “Experiences”
Consumers seek contextually relevant experiences that are seamlessly tailored to each consumer’s unique preferences and needs and enable the option to have shared shopping experiences.
43%
intend to spend more on experiences. ²
38%
will do more shopping online and only visit stores that provide great experiences. ²
56%
would share personal data for tailored online experiences. ²
- Convenient and frictionless shopping
- Immersive experiences
- Fully complementary experiences
The team
Jeff Orschell
Partner, Consumer Retail, Ernst & Young LLP
Helping retail clients discover innovation from new sources. Passionate for the outdoors. Love spending time with my wonderful wife.
Cincinnati, USA
Ashley Costa
Principal, EY-Parthenon, Ernst & Young LLP
Focused on establishing an inspirational vision of what tomorrow holds. Adept in building enterprise growth strategies, reinventing business models and galvanizing people to take bold action.
Philadelphia, USA
Nelson Ho
EY-Parthenon Senior Director, Strategy and Transactions
Experienced leader in the consumer products and retail sector. Passionate about transforming supply chains and omnichannel operations. Avid traveler. Husband and dog dad.
Charlotte, USA
Mehrdad Moghaddam
Senior Director, Corporate and Growth Strategy, EY-Parthenon, Ernst & Young LLP
Passionate about driving innovation and next generation experiences for retailers and direct-to-consumer brands. Foodie, electronic music aficionado and emerging market enthusiast.
New York, USA
How EY can help
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The EY Customer Experience solution can help your business integrate CX programs that help deliver sustainable long-term value. Discover more.
Read more -
EY-Parthenon professionals recognize that CEOs and business leaders are tasked with achieving maximum value for their organizations’ stakeholders in this transformative age. We challenge assumptions to design and deliver strategies that help improve profitability and long-term value.
Read more -
Discover how EY's customer engagement services can help your business improve sales & service productivity as well as maximize return on marketing spend.
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The authors wish to thank Neera Majumdar for her contribution.
