The report, Analogue to Automated: Retail in the Connected Age – which surveyed 5000 consumers and 1000 retailers shows that inaccurate, inconsistent pricing – and a lack of digital technology in-store – is costing retailers in lost sales and consumer trust, as price-conscious shoppers seek out the best deal and better experiences online.
The research strongly points to increased consumer desire for a more digital and connected shopping experience that meets their expectations around pricing, promotions and availability, and matches the information shoppers can get online, such as competitors’ prices, stock levels and more.
The positive news for retailers is that nearly two thirds (65%) of shoppers are decidedly tolerant of ‘agile’ or ‘dynamic’ pricing if it saves them money and reduces waste.
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