Convenience is fundamental to Australian shoppers, reports recent research from Oracle. Australian country results from Oracle’s 2015 consumer research report Retail Without Limits – A Modern Commercial Society reveals that shoppers, driven by the ubiquitousness of technology, want retailers to invest in delivering converged commerce experiences that connect digital and store channels.
Findings, based on responses from Australian participants, reveal shoppers are private, value-conscious and service-oriented. They are keen users of online and mobile technology and easily frustrated by inadequate availability or access, poor service or disjointed commerce experiences. Their loyalty is influenced by convenience and value, but not familiarity. They want retailers to understand their shopping behaviour and adapt their engagement strategies to interact with consumers appropriately and relevantly.
The Australian results support Oracle’s view in the global consumer report Retail Without Limits – A Modern Commercial Society: convenience, driven by technology, has become today’s ‘invisible hand’, driving a borderless and limitless retail market. Results from the Australian research challenge retailers to capitalize on these findings and the associated changes by following three simple principles: learn, adapt and execute.
“Australian shoppers are constantly being wooed by offshore retailers,” said Jill Puleri, senior vice president and general manager, Oracle Retail. “We are seeing a surge of domestic retailers in the local market who are leveraging their store footprint to win over the Australian consumer; allowing them to have a seamless experience shopping both online and in store."
The research reveals the following:
Australian consumers are calling for the convergence of commerce: 76 per cent of respondents want retailers to invest in technology, and 54 percent stated that converged commerce was key to enhancing their shopping experiences. 60 per cent of consumers are shopping more using mobile, 48% are using tablets more and 46% are using social media more.
Australian consumers face a privacy conflict: 65 per cent of respondents have reservations with retailers gaining access to information on their shopping habits, yet 61 percent want to engage with an assistant in-store.
Australian consumers are demanding transparency: 74 percent of respondents want visibility to stock and 61 percent believe that access to information across digital and store channels benefits their experiences most.
Australian consumers a re drawn to the global market: 67 percent of respondents have purchased goods from offshore international retailers because of a better price (77 percent), access to a product unavailable in Australia (47 per cent) or to a better range (40 per cent).
Australian consumers say convenience influences loyalty: 50 percent of respondents say their loyalty is influenced by a convenient shopping experience across channels, while 53 per cent are influenced by local and convenient stores.
Australian consumers value the store: 69% prefer buying goods in store and currently shop more frequently in store than online, providing local retailers with the opportunity to differentiate themselves from pureplay counterparts. Myer and Coles were named as the favourite local retailers, followed by Kmart and Target.
Oracle commissioned the Retail Without Limits – A Modern Commercial Society study with Redshift Research in January 2015. Results of the global survey involving 5,000 respondents from ten countries using an online consumer panel, were announced in March 2015.